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Thread: Changi Garden sold for 888psf ppr

  1. #11
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    Quote Originally Posted by Arcachon View Post
    Date Address Unit Size (sqft) Price Price (psf)
    9th Mar 2016 CHANGI GARDEN, #0-1-XX 1,475 $900,000 $610
    4th Mar 2016 CHANGI GARDEN, #0-1-XX 1,399 $990,000 $707
    6th Sep 2013 CHANGI GARDEN, #0-1-XX 1,399 $1,115,000 $797
    2nd Sep 2013 CHANGI GARDEN, #0-1-XX 1,399 $1,080,000 $772
    7th Aug 2013 CHANGI GARDEN, #0-1-XX 1,475 $1,050,000 $712
    r Nicholas Mak, head of the research and consultancy department at integrated asset manager ZACD, said that the estimated break-even price for CEL, based on the current market condition, would be about S$1,350 psf to S$1,400 psf.

  2. #12
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    Quote Originally Posted by gsmsimmax3 View Post
    Ask $196 mio.
    Sold 248.8 mio . Big discrepancy (27%) ... though a happy one.

    Seller ask too low or buyer buy too high ?

    anyone have details of the result breakdown ??
    given the current sentiment, seems like its ok to price low as there are more than enough developers to trip over themselves and send it to the "correct" market price.

    however, over the next 12 months, more people will become greedy and ask for higher prices (which I view as not wise), this means that more en blocs may not go through.

  3. #13
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    Quote Originally Posted by bargain hunter View Post
    given the current sentiment, seems like its ok to price low as there are more than enough developers to trip over themselves and send it to the "correct" market price.

    however, over the next 12 months, more people will become greedy and ask for higher prices (which I view as not wise), this means that more en blocs may not go through.
    The interesting psychology here is unlike usual private treaty sale both buyer and seller dont know each other expectation.

    Here the seller already show hand...and still buyer paid 27% higher....Must be really scared of other competiting bid ?
    Or is it a case of asking too low ?

  4. #14
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    Quote Originally Posted by gsmsimmax3 View Post
    The interesting psychology here is unlike usual private treaty sale both buyer and seller dont know each other expectation.

    Here the seller already show hand...and still buyer paid 27% higher....Must be really scared of other competiting bid ?
    Or is it a case of asking too low ?
    Some people see some people don't.

  5. #15
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    Quote Originally Posted by gsmsimmax3 View Post
    The interesting psychology here is unlike usual private treaty sale both buyer and seller dont know each other expectation.

    Here the seller already show hand...and still buyer paid 27% higher....Must be really scared of other competiting bid ?
    Or is it a case of asking too low ?
    but there is no issue with seller asking low since like u said, unlike private treaty, the seller cannot afford for the price to come in below 700psf as it will become another tedious process. that's why i felt that its ok for seller to set the reserve price low (at a price which they are still willing to sell at of course) and let the buyers decide what is the final price.

    the buyer on the other hand obviously wants to wipe out the chance of any other competing bid winning the plot.

  6. #16
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    Chip Eng Seng acquires Changi Garden at $248.8 mil

    By Angela Teo / EdgeProp | October 17, 2017


    Chip Eng Seng announced on Oct 17 that it has successfully tendered for the en bloc purchase of Changi Garden, at $248.8 million, or $888 psf per plot ratio (ppr). This works out to about 27% above the asking price of $196 million.

    According to marketing agent Edmund Tie & Company (ET&Co), no development charges are payable for the site because of its high development baseline.

    At the selling price, an apartment owner is set to receive between $2.14 million and $2.27 million, while a penthouse owner will receive between $4.03 million and $4.74 million, says ET&Co. Shop owners are expected to receive between $4.7 million and $7.08 million, ET&Co adds.

    Chip Eng Seng intends to redevelop Changi Garden into a low-rise condominium of about 320 residential units with a possible retail component.

    According to Tay Siong Siew, chairman of Changi Gardenís en bloc sales committee, the collective sales process began in March last year.

    The existing property comprises 84 residential and retail units that sit on a site area of approximately 200,095 sq ft. Under the 2014 Master Plan, the site has a plot ratio of 1.4, which translates into a maximum allowable gross floor area of 280,133 sq ft.

  7. #17
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    Default Re: Changi Garden sold for 888psf ppr

    🍀PARC KOMO - LAST CHANCE to enter FREEHOLD + MIXED DEVELOPMENT at $1450psf🍀

    1BR from $663K
    2BR from $871K
    3BR from $1.294M
    4 & 5 BR - Price on application

    https://www.youtube.com/watch?time_c...&v=H9JLs1V0WzE

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