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Thread: Icon (D2, 99 years, Far East Org)

  1. #31
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    Perhaps its the >6% rental yield at 1200psf?

    Icon hold the highest psf rental in SG.

    Quote Originally Posted by oxboy99
    Don't you think $1200 psf is too much for a leasehold?

    I can get Alexis, Viz@Holland at Queensway or even RVSuites at River Valley for less... I haven't even looked at Park Infinia, Montebleu and Centrio at Newton...

    Another shining example of overpriced units not being sold by greedy developers. It was not sold that much when it was launched, right? Why is the developer so stubborn to demand such a crazy price and leave the unit to rot and depreciate?

    IS FEO hoping to get money to finance Silversea??? Good luck selling that one in this market...

    Just don't understand...

  2. #32
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    Default Are you serious???

    Are you serious?!

    If i'm renting, I would prefer to rent The Sail and enjoy a nice view of the IR and the Marina Bay. Can you even see the Marina Bay from Icon???

    Just walked by an ad on the street by a desperate owner wanting to sell or rent out The Sail for abt $4.5K per month. The two developments are so close and with One Shenton coming up, I can only think the rental will drop further with the competition.

    Not to mention the leasehold is a ticking timebomb devaluating the property as time marches...

    Might as well invest in Orchard, Novena or even Alexandra and get a bigger place.

    Quote Originally Posted by AK47
    Perhaps its the >6% rental yield at 1200psf?

    Icon hold the highest psf rental in SG.
    Last edited by oxboy99; 26-02-09 at 15:55. Reason: Forget title

  3. #33
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    oxboy.. what was the psf that the desperate owner was selling at?
    I also tempted to buy Sail even though it's 99yrs..
    but must check whether govt is the holder of the land or some other developer bought it at 999..
    also dunno where to check... haiz

  4. #34
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    rent the sails ? Look at the facilities first la... Icon is thousand times better !

  5. #35
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    Lol. Pls lah, even if icon has a nice lagonda or two more than the sail, at least the sail has an entire hinterland of entertainment, gardens, shopping, and others within a 500m radius. You cannot compare two. Icon is a glorified duxton - same leasehold, just different strata, and facilities

  6. #36
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    Dont have to argue, go check out URA rental stats for the past 3 quarters.

    Icon rent has came down, but still has the highest psf rental in the country. Thats a fact.

    The Sail? You be lucky to get 4% yield.

  7. #37
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    Yes, that true. Unfortunately its 2-3 years down the road.

    At the mean time its a 500m radius of wasteland, rental will remain depress until MBFC, Bayfront MRT, Garden by the Bay are ready.

    So watch out before paying any deposit....oops!

    Quote Originally Posted by gfoo
    Lol. Pls lah, even if icon has a nice lagonda or two more than the sail, at least the sail has an entire hinterland of entertainment, gardens, shopping, and others within a 500m radius. You cannot compare two. Icon is a glorified duxton - same leasehold, just different strata, and facilities

  8. #38
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    Saw a transaction done in Biz Times today for a unit at $634psf!


    Is this possible? I also want to buy a unit at this price.

  9. #39
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    I wonder if the URAa or anyone else investigates that transactions well below the last sales price are above board.

    I am not questioning this transaction in particular, but have noticed a few developments where there has been very large drops (over $100-200psf) over the last transacted price, though the units never seem to have been advertised.

    Like the poster above, I'd happily pay $634 psf (and more) for the Icon, but have not seen any advertised for sale at that price, nor at auction (I am on most mailing lists from auction houses).

    In the past, a few agents I met as a potential buyer have have hinted that a side deal may be possible without any encouragement on my part. This can be overdeclaring the value (to get a higher loan) or undeclaring (to rip-off the CPF).

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    Hi newbie here, but can you advise how to rip off the CPF by under-declaring the price?

  11. #41
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    Quote Originally Posted by 8kenshin
    I am not questioning this transaction in particular, but have noticed a few developments where there has been very large drops (over $100-200psf) over the last transacted price, though the units never seem to have been advertised.
    $100-200psf below the recent transaction is normal especially of previously the buyer are paying for such a premium. But this is not just over $100-200psf. It is at least $350psf or more.

  12. #42
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    Quote Originally Posted by cloudy78
    Hi newbie here, but can you advise how to rip off the CPF by under-declaring the price?
    Hi Cloudy78, its probably a jailable offence, so I am not "advising" anyone to do it, but by way of clarifying my post, the following process is what I was referring to.

    Someone who bought a property and is negative equity has little incentive to sell. If he sells, he needs to come up with fresh cash to repay the loan, so often such owners will hang on hoping the market will recover. Understating the price lets him rip off the CPF as shown below.

    Using round numbers: A guy buys a place for $800K, using a loan of $650K and CPF of $150K. he later wishes to sell and the property has a market value of 750K, and the loan is paid down to $600K. Ordinarily if he sells at market value, the bank gets repaid in fulll $600K, and CPF $150K. If he works with the buyer to declare a price of $700K, the bank loan is repaid in full for $600K, and there is a CPF shortfall of $50K. The scam is completed by the buyer passing $50K in cash to the seller. The buyer and seller have both completed an illegal act in this example.

  13. #43
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    http://www.straitstimes.com/Life%252...ry_374138.html

    May 9, 2009

    home & garden

    Gardens in the sky

    High-rise greenery is sprouting in condos and HDB blocks

    By tay suan chiang


    High-rise havens at Newton Suites (left) and HDB carpark in Toa Payoh. -- ST PHOTOS: JOYCE FANG, SHAHRIYA YAHAYA

    Garden terraces on high-rise buildings are a growing idea.

    More condominiums, Housing Board carparks and office towers are sprouting plants and trees amid the concrete, helping Singapore bloom as a 'garden city'.

    Everyone is happy: Developers like adding high-rise greens because they say they help keep buildings cool and beautify the urban jungle. Residents like them because they help them keep close to nature, despite being above the ground.

    The idea gets the (green) thumbs-up from housewife Mei Wong, who lives in one of Singapore's oldest housing estates, Toa Payoh, which boasts the first sky garden to connect five HDB blocks. It has landscaped footpaths, sheltered seating areas and a trellis where creepers grow.

    Ms Wong, 40, who goes there often with her two children, says: 'There's no need for me to grow plants at home. I just come here.

    'The plants keep the sky garden cool, and it is pleasant to look out onto it from my 20th-storey window.'

    The HDB and the National Parks Board first started a pilot project to green the roof of a multi-storey carpark in Punggol in 2003. At some multi-storey carparks in new HDB projects, there are also roof gardens which the public can access.

    The idea is also taking root in the private sector (see separate stories). Last month, the Urban Redevelopment Authority (URA) launched a new programme called Landscaping for Urban Spaces and High Rises - or appropriately, Lush in short - to promote more skyrise greenery.

    Its initiatives include making landscaping, such as to shape rooftop gardens or sky terraces, a must for new developments in Raffles Place, Shenton Way, Marina Centre, along Kallang River and Jurong Gateway, the upcoming commercial hub in the west.

    Already, since 1997, the URA has encouraged developers to incorporate sky terraces in residential projects by allowing a higher building height if they are provided. Covered sky terraces are also exempt from gross floor area computation, which means a developer has more room to build more apartment units.

    Under Lush, these guidelines were revised to require that sky terraces are lushly landscaped and that the greenery is visible externally, to ensure a more attractive communal space.

    New condos are showing they are taking the sky garden concept to new heights. At year-old Icon in Tanjong Pagar, residents are living a luxe lush life.

    The sky terrace on the 31st storey of the mixed-use development makes for one superb venue for residents' private parties. It is filled with shade-loving plants such as frangipani trees, and small pockets of areas have been created to give some privacy.

    Mr Chng Kiong Huat, director of development and planning for the condo's developer, Far East Organization, says the sky terrace was created so residents can 'live, work and play within the compound'.

    Property developer Capitaland has also introduced high-rise greenery at two recent residential projects, Citylights near Lavender and RiverGate near River Valley Road. At Citylights, there is a sky terrace on the 24th storey with fitness facilities, plus reading and yoga corners, amid the lush greenery.

    Over at RiverGate, its sky gardens are made up of a series of public and private gardens and balconies which give the development a green and ecologically harmonious appearance on Singapore's skyline, says Capitaland.

    At Fusionopolis, the science and research centre in Buona Vista, there are 13 sky gardens which the public can visit.

    Developer JTC Corporation says the sky gardens provide visual relief and serve as green lungs and social pockets.

    Mr Eric Van Steen, 38, senior manager of Accenture, a consulting firm, goes to the gardens about twice a week.

    'The greens, with the breeze and the great views, make it a pleasant space to step out of the office to clear the mind,' he says.

    Newton Suites, developed by UOL Group, also has a 100m wall of vertical greenery on the 36-storey tower.

    Architect Chan Ee Mun from award-winning firm Woha, which designed the Newton Road condo, says 'elevated gardens bring nature closer to the residents and afford the luxury of greenery that was previously reserved only for landed living'.

    The greenery absorbs sunlight and carbon dioxide emissions and helps create oxygen. Mr Chan adds that by planting vertically, 'we are also populating our dense urban centres with gardens and greenery that encourage a thriving biodiversity'.

    Newton Suites resident, financial consultant Mona Honegger, 43, lives on the ninth storey but regularly goes up to the lush sky terrace on the 31st storey to revel in the unblocked views of the city.

    The Swiss expat, who enjoys a drink and relaxes there before bedtime, says: 'Being here among the green gives me a feeling of being close to nature.'

    [email protected]


    The high life

    Icon

    A sky terrace on the 31st storey provides private seating areas, with hot tubs from which users can enjoy unblocked views of the city and the sea and floating birdcage swings.



    Lush greenery to block out prying eyes creates pockets of private space.

    On the seventh storey is a pool deck featuring green 'islands'. The use of trees and plants gives the deck a tropical resort feel.


    -- PHOTOS: ASHLEIGH SIM, JOYCE FANG, SHAHRIYA YAHAYA, CAPITALAND, JTC CORPORATION


    RiverGate



    This 545-unit condomnium near River Valley Road offers residents 45 sky gardens with views of the city, Singapore River and the South China Sea. The sky gardens are made up of a series of public and private gardens and balconies. There are trellises on which creepers grow so residents can feel close to nature.


    Newton Suites



    This award-winning condominium boasts sky terraces surrounded by lush greenery, giving residents a garden-in-the-sky feel. There is also a 100m-tall green wall along the 36-storey block.


    HDB roof gardens



    Some lucky HDB flat dwellers are also enjoying skyrise greenery. In 2003, the Housing Board and National Parks Board started a pilot project to green the roof of a multi-storey carpark in Punggol.

    These rooftop gardens not only keep the surround- ings cool but are also pleasing to look at for neighbouring residents.

    The one on the left is at Toa Payoh Lorong 2. Other rooftop gardens on carparks can be found in new housing estates such as Punggol, Sengkang and Sembawang.


    Fusionopolis



    This science and technology centre, developed by JTC Corporation, boasts 13 sky gardens which are open to the public. The sky gardens have water features amid the lush greenery, with clear views of the surroundings.


    Citylights



    Taking a leisurely stroll is an elevating experience at this 600-unit condo near Lavender MRT station. Residents have a lush high-rise pool deck and a sky terrace on the 24th floor that has fitness facilities and a jacuzzi plus reading and yoga corners.

  14. #44
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    Default Viewing of Icon located in the heart of Tanjong Pagar

    Anyone interested in the viewing of the ICON, i will be pleased to assist you in the viewing of the showflat.

    If you have any queries to the units details. Do let me know.

    Best regards.
    Aaron | 90287921.

  15. #45
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    I con, you con, she cons, he cons. lee con you, now ng con you too

  16. #46
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    Default congestion

    With such a high density, isnt it very congested?

  17. #47
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    It seems like there is a new FEO development beside Icon, the entire sea view will potentially be wiped out... At the city side, a site in front is zoned for hotel development. Buyer just take note. Just viewed yesterday, buyer asking for sky high price.. I am still keen though due to the location.

  18. #48
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    Arrow Icon condo for rent - Few Unit

    Hi Tenat

    I am Andy PropNex Agent, appointed/specialist agent to distribute The Icon Loft for rent/sent.Currently helping our client to rent out their unit Below are the information of Icon Loft

    AVAILABLE UNIT for rental
    01 UNIT -Studio,
    Fully Funish,
    Aircon,new brand,
    floor area 581sqft
    good view facing sea/city,
    nice mid low floor..

    available Mid Sept

    Asking 3.8k


    Hurry Place Your Booking Now!!



    The lure of a downtown Manhattan lifestyle beckons the worldly individual in the form of Icon, an exploration of Modernistic expression located in the heart of the Central Business District with the Tanjong Pagar MRT at your doorstep.

    Icon consists of two towers of compact residential units that beckon the soul that seeks a life less ordinary.

    Located in the heart of the Central Business District at Gopeng Street, Icon transcends traditional notions of living space. It neighbors include concrete skyscrapers like Capital Towers and SIA building, an eclectic mix of pubs converted from conservation shop houses and renowned food centers.

    It is a home like no other. It is unconventional in theme yet holistic in its approach of providing unparalleled comfort.

    Icon is located near Marina Bay where exciting developments are currently underway.


    FACILITIES
    7th Storey
    • 50m lap pool • 2 Jacuzzis • 4 BBQ Pits • 1.2m Leisure Pool • 2 Tennis courts • 1.2m Water Labyrinth • Refloxology Water Jets • Massaging Aqua Aerobics Pool • Splash Zone • Aqua Loungers • Landscaped Island • Fun Corner • Cascading Water Feature • Verandah with Timber Deck & Lawn
    • Sun Deck • Pavilion


    31st Storey
    • Clubhouse • Indoor & Outdoor Gymnasium • 3 Jacuzzis • Hot tubs • Terrace garden • Water gardens • Reflective pool • Aroma areas • Timber deck sitting area • Sky terrace telescope

    AMENITIES
    • Near Tanjong Pagar Food Centre • Near Lau Pa Sat • Near Amoy Food Centre • Near Amara Hotel • Near Chinatown • Near Suntec City • Near VivoCity • Near HabourFront • Near City Hall • Near Boat Quay

    UNIT LAYOUT


    Sample PHOTO




    Web View
    Icon Loft-click here

    Kindly contact Andy for viewing arrangement
    Hp : 8448 3535 /8298 1266
    E : [email protected]

  19. #49
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    Quote Originally Posted by rocksteel
    Any lobang for re-sale units? low to mid floor ok.
    Watch the facing..

    Understand one side will have a new FEO development so the view may be blocked, when construction is underway may be difficult to get tenant..

    the other side has a land zone for hotel development and your view may be blocked too; OR if you face the temple where view should be ok..

  20. #50
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    Quote Originally Posted by URA
    Private Residential Units Sold in the Month of August 2009

    Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
    Icon .............. CCR ....... 633 ...................... 2 ........................... 1,765 ........... 1,765 ........... 1,764
    Can FEO clear the remaining 13 units in September?

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    If you guys think 1750psf is high now...




    ICON GOPENG STREET Apartment 1 2,160,000 1,119 Strata 1,930 Sep-09

  22. #52
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    Quote Originally Posted by Squall8888
    If you guys think 1750psf is high now...




    ICON GOPENG STREET Apartment 1 2,160,000 1,119 Strata 1,930 Sep-09
    Err ... still 43% lower than Seven Palms.

    Quote Originally Posted by The Business Times

    Seven Palms smashes price records at Sentosa Cove
    SC Global sells units at $3,100-$3,400 psf at the exclusive 4-storey project
    The Business Times
    Wednesday, 7 October 2009

    Upmarket developer SC Global Developments is said to have sold 6 units at its Seven Palms at Sentosa Cove condo at between $3,100 psf and $3,400 psf – record prices for the upscale waterfront housing district.

    On a lump-sum basis, the three and four-bedroom units were sold at about $9 million to $15 million each.

    All units in the four-storey development will face either Tanjong Beach next door, or the sea or the Tanjong Golf Course at the Sentosa Golf Club.

    Singaporeans are understood to have picked up 2 of the 6 units sold recently, with Singapore permanent residents buying the other 4.

    Market watchers reckon SC Global is probably looking at a project-average price of about $3,500 psf for Seven Palms at Sentosa Cove. The condo will comprise just 41 units.

    Standard apartment sizes range from about 2,750 sqft to 6,500 sqft.

    BT understands that the biggest unit in the 99-year-leasehold project, an 8,000-sq-ft penthouse, has a price tag of about $25 million to $30 million.

    Prior to this, the highest median price achieved by a developer of a Sentosa Cove condo was $2,734 psf seen at Lippo Group’s Marina Collection, which was released in late 2007.

    The highest price fetched for a unit in that development was $2,917 psf, for a fourth-floor unit that sold for just over $9.8 million in December 2007.

    Property consultants were generally not surprised at the record price achieved for Seven Palms, given the project’s unique positioning.

    ‘This will be the only condo on Sentosa Cove with direct access to a beach. And SC Global has established a track record of being able to command a premium to the market for its project,’ said CB Richard Ellis executive director (residential) Joseph Tan.

    ‘We’re seeing big-ticket transactions coming back to the market. For example, there are more of the $4.5 million to $12 million per apartment deals again as the bottom-up property recovery spreads to the luxury residential sector,’ he added.

    Seven Palms is designed by Kerry Hill Architects, which has designed many of the Aman resorts.

    SC Global clinched the 113,797-sq-ft plot, which was marketed as the Beachfront Collection, at a tender conducted by Sentosa Cove Pte Ltd (SCPL) and which closed in July 2007.

    Its top bid of $268.3 million worked out to nearly $1,800 psf per plot ratio. Assuming a breakeven cost of about $2,400 psf, SC Global’s pre-tax profit from the development would be more than $170 million.

    The plot has a 1.31 plot ratio (ratio of maximum potential gross floor area to land area) and a four-storey height limit. The maximum number of apartments allowed by SCPL – the district’s master planner – is 88 units.
    However, SC Global has opted to build less than half that number, but with bigger units.

    All penthouses and ground-floor apartments come with their own swimming pool and each unit in the project has a private lift. Housing in the immediate neighbourhood is bungalows.

  23. #53
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    Default Wanted: Icon units for multiple purchase

    Dear all,

    My clients from overseas are coming to Singapore on Mid October to invest in private residential properties. Icon is one of their choice condo.

    Their requirements are as follows:

    1) 2 bedrooms or smaller;
    2) Regular shaped interior;
    3) Attractive pricing;
    4) Floor Plan required;
    5) Interior photos provided will be wonderful

    Call me at +65-92993342 or email property details including floor plan & interior pictures to [email protected] before Thursday, 8 Oct 2009 3pm.

  24. #54
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    Quote Originally Posted by URA
    Private Residential Units Sold in the Month of September 2009

    Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
    Icon .................. CCR ........ 634 .......................... 1 ................................
    2,206 ............ 2,206 ............ 2,206
    Is $2,206 psf a new high for Icon and District 2?

  25. #55
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    what's current average psf for icon ?

    Quote Originally Posted by Reporter
    Is $2,206 psf a new high for Icon and District 2?

  26. #56
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    Quote Originally Posted by Reporter
    Is $2,206 psf a new high for Icon and District 2?
    Unfortunately, Icon could not break its high this time.

    Quote Originally Posted by URA
    Private Residential Units Sold in the Month of October 2009

    Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
    Icon .................. CCR ........ 637 ..........................
    3 ................................ 2,022 ............ 1,921 ............ 1,430

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    Default Icon (D2, 99 years, Far East Org)

    Hello am new here...

    What do you guys think of Icon asking price $1600 psf for #30 flr (duplex) with unblocked city view?

    Heard Icon 2 is going to be launch at $2K psf.

  28. #58
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    Quote Originally Posted by meiti
    Hello am new here...

    What do you guys think of Icon asking price $1600 psf for #30 flr (duplex) with unblocked city view?

    Heard Icon 2 is going to be launch at $2K psf.
    your view might be blocked but the upcoming hotels.

    the fittings of the common areas and such suck, retail is laughable.

    why are you even considering the icon? it's neither here nor there

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    Tower 1 and those with pool/sea view will be blocked. But not for Tower 2 faving the city. The owner is cleverly playing the fact that Tower 2 will have open view from a high floor and asking for 1600 psf for a studio loft. It's currently tenanted at 4500/mth. Not a bad rental yield even after monthly maintenance. I think its location is not bad being so near to MRT and right in the city. It suits expats with Manhattan living style. Icon is mainly for investment purpose, not for living. That's my 2 cents worth

  30. #60
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    Quote Originally Posted by URA
    Private Residential Units Sold in the Month of December 2009

    Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
    Icon ............... CCR ....... 639 ...................... 2 ........................... 1,925 ............ 1,688 ........... 1,450
    Still can't break $2,206 psf.

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