Another firesale in Lorong 14!!! 400K for 2 bedder!!!

[xtreme_46]

WING FONG MANSIONS LORONG 14 GEYLANG Apartment 14 RCR Freehold Resale 1 400,000 - 700 Strata 01 to 05 572 Jan-17

However, buy this unit really is huat until big big 2 bedder 400k...

last year same area is central imperial now again Lorong 14....why this area cursed?

[Arcachon]

Let me write to URA and ask them to check.

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[Arcachon]

Dear Mr xxx,

Thank you for your email. We will get back to you within the next 3 working days. If we need more time, we will inform you.


Regards

Record Management Unit
Corporate Services Department
Urban Redevelopment Authority

[xtreme_46]

few year ago i offered 500k for a 2 bedder this size and got rejected....

[Tomutomi]

Only a few banks provided loan mah, and even for those few banks got limited quota.

Probably owner need cash urgently so prefer those who can pay cash, as usual very limited people wanna fork big sum of cash, especially for such property.

Also possible was a sale within family member.

WING FONG MANSIONS LORONG 14 GEYLANG Apartment 14 RCR Freehold Resale 1 400,000 - 700 Strata 01 to 05 572 Jan-17

However, buy this unit really is huat until big big 2 bedder 400k...

last year same area is central imperial now again Lorong 14....why this area cursed?

[xtreme_46]

but if sale within family member need to lodge caveat?

[Arcachon]

Let wait for URA reply.

[Tomutomi]

Yahor..
Probably URA sale transaction should be based on stamp duty to include all property transactions.

but if sale within family member need to lodge caveat?

[Arcachon]

Customer Name : Mr xxx
ID Number :
Email Address : xxx
Contact Numbers : xxx
Feedback Received Date : 23/01/2017

Dear Mr xxx

Thank you for your feedback.

We have checked and confirmed that the transacted price of $400,000 in January 2017 for ‘Wing Fong Mansions’ is accurate as what was stated in the caveat lodged with the Singapore Land Authority (SLA).

However, do let us know if you are aware that this was not a transaction at arm’s length so that we can investigate further and remove it from the publication, if needed.

Please call me at 6321-6595 if you need further clarification. Thank you.


Yours Sincerely

Irene Ng
Customer Support
Property Research Department

Urban Redevelopment Authority § Property Research Department § Privileged/Confidential information may be contained in this message. If you are not the intended recipient, you must not copy, distribute or use it for any purpose, nor disclose its contents to any other person. Please notify the sender immediately if you receive this in error § Check out our website at http://www.ura.gov.sg

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Your earlier feedback received on 23/01/2017 :

There was a caveat of 700 sqft at SGD
400,000 on Jan 17. The market is selling more
than SGD 700,000 please check the transaction."

[Arcachon]

Customer Name : Mr xxx
ID Number :
Email Address : xxx
Contact Numbers :
Feedback Received Date : 24/10/2007

Dear Mr xxx

Thank you for your feedback. We have investigated and confirmed that the caveat of this unit at Southbank was lodged after the sub-purchaser signed fresh agreement with the developer. However, in lodging the caveat, the sub-purchaser quoted the price paid by the original purchaser instead of the sub-sale price. We have therefore removed the record since it does not reflect the actual transaction price. We apologise for any inconvenience caused.


Regards
Customer Support, Property Research Section
tel: +65 6329-3357 / +65 6321-8015
fax: +65 6321-6596

Urban Redevelopment Authority § Property Research Section § Privileged/Confidential information may be contained in this message. If you are not the intended recipient, you must not copy, distribute or use it for any purpose, nor disclose its contents to any other person. Please notify the sender immediately if you receive this in error § Check out our website at http://www.ura.gov.sg

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Your earlier feedback received on 24/10/2007 :

Is there a mistake on the unit price on Sep-07 for SouthBank Apartment for 583 $psf.

Floor Area (Sqft) Unit Price ($psf) Date
904 527,000 583 Sep-07
SOUTHBANK NORTH BRIDGE ROAD Apartment

[xtreme_46]

Customer Name : Mr xxx
ID Number :
Email Address : xxx
Contact Numbers : xxx
Feedback Received Date : 23/01/2017

Dear Mr xxx

Thank you for your feedback.

We have checked and confirmed that the transacted price of $400,000 in January 2017 for ‘Wing Fong Mansions’ is accurate as what was stated in the caveat lodged with the Singapore Land Authority (SLA).

However, do let us know if you are aware that this was not a transaction at arm’s length so that we can investigate further and remove it from the publication, if needed.

Please call me at 6321-6595 if you need further clarification. Thank you.


Yours Sincerely

Irene Ng
Customer Support
Property Research Department

Urban Redevelopment Authority § Property Research Department § Privileged/Confidential information may be contained in this message. If you are not the intended recipient, you must not copy, distribute or use it for any purpose, nor disclose its contents to any other person. Please notify the sender immediately if you receive this in error § Check out our website at http://www.ura.gov.sg

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Your earlier feedback received on 23/01/2017 :

There was a caveat of 700 sqft at SGD
400,000 on Jan 17. The market is selling more
than SGD 700,000 please check the transaction."

really got this transcation...is true afterall

[Amber Woods]

The average transacted price for Wing Fong Mansion in 2015 was about $700 psf. There was no transaction in year 2016. The seller could have been trying for more than a year to sell his unit but without success. At $572 psf it is not really a fire sale but a serious seller preferring to sell now than to hold. After all in today's climate, the strategy for investment is to sell or to hold depending on your financial strength. For some serious seller, they may prefer to sell below valuation rather than wait and wait for someone to offer at valuation which may not come and miss the opportunity to sell. It is similar to during the good time when buyers are willing to buy at above valuation in order not to miss the deal.

[Kelonguni]

It looks like internal family "selling".

I would load this anytime but it's Geylang. Maybe 399k I buy.

[teddybear]

Don't understand why would some people always interpret transacted price much below market valuation as "looks like internal family "selling""?

With such interpretation, we can also says that it looks LOTS of "internal family "selling"" had already happened in CCR!
Strangely, why there doesn't seem to be quite a handful of "internal family "selling"" in OCR?

Actually, there were EVEN MUCH MORE "internal family "selling"" every where (regardless of CCR, OCR, RCR) during 2008-2009 !!!

It looks like internal family "selling".

I would load this anytime but it's Geylang. Maybe 399k I buy.

[Amber Woods]

In 2006, Wing Fong Mansions was transacted at a low of about $300 plus psf. In 2009, it was transacted at about $400 plus. At current price of $572 psf, it is still higher than in 2009. If the seller had bought it in 2009, he is still making a profit selling at $572 psf.

According to Mr Khaw, ideally, Singapore property prices should be at year 2009 level for it to be sustainable.