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Thread: Alexis @ Alexandra Road (D3, Freehold, Yi Kai Development and Fission Group)

  1. #91
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    http://www.businesstimes.com.sg/sub/...19170,00.html?

    Published February 16, 2009

    Buoyant property launches defy poor economy

    New developments Caspian and Alexis report brisk sales, add buzz to market

    By ARTHUR SIM


    (SINGAPORE) Frasers Centrepoint Ltd (FCL) has delivered much needed positive news by reporting that its 712-unit Caspian condominium near Jurong Lake is now 65 per cent sold with 460 units snapped up to date.


    Crowd puller: Alexis, a freehold development marketed by Huttons Asia at around $1,000 psf, is a 'unique product' with small units, says PropNex CEO Mohamed Ismail -- ARTHUR LEE

    Over at Alexandra, the 293-unit Alexis @ Alexandra by joint venture partners Yi Kai Group and Fission Group is said to be fully sold.

    Both developments were launched this month and together, total sales of 753 units have already topped new developer sales for the whole quarter of Q1 2008.

    The demand for these two developments have taken many by surprise.

    Mohamed Ismail, chief executive of PropNex, which is also the marketing agent for the 99-year leasehold Caspian, said that the sales target had initially been only 250 units for its first phase.

    However, after these were sold out quickly at an average price of $580 psf, more units were released at the higher price of $600 psf.

    It is understood that FCL will continue selling units as long as there are buyers and that it is comfortable with the pace of sales.

    Giving his take on the Caspian's success, Mr Ismail said: 'The strategy in a down market is to look at the size of the units, reach out to buyers in the same area, and keep prices low.'

    Alexis, a freehold development marketed by Huttons Asia was more expensive at around $1,000 psf. However, Mr Ismail noted that Alexis is a 'unique product' with small units. He added: 'It doesn't really matter what the per square foot price is these days. If the quantum is below $1 million, there will be many takers.'

    While these sales figures are encouraging, Cushman and Wakefield managing director Donald Han said that the demand could be very 'project specific' with pent-up demand quickly satisfied.

    A case in point could be City Developments Ltd's (CDL) 724-unit Livia condominium project in Pasir Ris. Livia was launched in July last year and 338 units have been sold as at end December at an average price of $650 psf. Over the weekend, CDL launched 30 units at an average of $620 per sq ft but the atmosphere at the showflat is said to be relatively subdued.

    Still, the launch of Caspian and Alexis has added some buzz to an otherwise quiet market.

    Some developers have noted that there are buyers waiting to move.

    And Teo Hong Lim, chief executive of Roxy-Pacific, the parent company of Roxy Homes, has noticed that the sale of a few units can trigger a rash of buying because those waiting on the sidelines do not want to 'miss the boat'.

    Mr Teo says that Roxy Homes sees about 70-100 visitors at its showflats a day.

    East Coast Properties managing director Alvin Ng says he has also noticed an increase in visitors at its showflats with sales also picking up. Asked what is driving this in light of the poor economy, Mr Ng said: 'It's really anyone's guess.'

  2. #92
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    good to see some good news in the property market

    but i am still damn curious how can pple pay 1000 psf at current mkt condition ?

    just becos the quantum is below $1 mio ?
    how to live in a 'condo' of 3xx sqft ? might as well stay in the nearby HDB ...

  3. #93
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    Quote Originally Posted by proud owner
    good to see some good news in the property market

    but i am still damn curious how can pple pay 1000 psf at current mkt condition ?

    just becos the quantum is below $1 mio ?
    how to live in a 'condo' of 3xx sqft ? might as well stay in the nearby HDB ...
    At the high of property boom, Anchorage was trading at $1100psf and Queens was $900psf (next to mrt station). Alexis is a mix development, do you think that the price for this can hit $1200 or $1300psf? If it can, it is worth it to buy Alexis, why not buy nearer to Mohd Sultan?

  4. #94
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    Quote Originally Posted by Property_Owner
    At the high of property boom, Anchorage was trading at $1100psf and Queens was $900psf (next to mrt station). Alexis is a mix development, do you think that the price for this can hit $1200 or $1300psf? If it can, it is worth it to buy Alexis, why not buy nearer to Mohd Sultan?
    i dont know man ... the size of the unit can be a deterence to future resale/subsale buyer ...

    unless you think the future spore population are all singles ... who would want to buy a 3xx sqft unit ? (at 1000 psf and higher)
    rather buy a studio at 6xx sqft in river valley at 900 psf

    rental potential so much better there

  5. #95
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    Quote Originally Posted by proud owner
    i dont know man ... the size of the unit can be a deterence to future resale/subsale buyer ...

    unless you think the future spore population are all singles ... who would want to buy a 3xx sqft unit ? (at 1000 psf and higher)
    rather buy a studio at 6xx sqft in river valley at 900 psf

    rental potential so much better there
    Agreed, i've viewed a FH 474sqft resale unit but it felt so much crampled and ended up with OLD LH 800sqft located in district 5. Potential is only is surroundings and the land ratio is under utilised. Up for collective sale b4,may takes 5,10,15yrs to happen again. I dun neo.

    We are paying premium price for exclusive quiet environment,facing greenery surrounded by condos and landed properties.
    Who will wan a condo in HDBland,with main road packed with heavy traffics up and down.

  6. #96
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    Quote Originally Posted by jwong71
    Agreed, i've viewed a FH 474sqft resale unit but it felt so much crampled and ended up with OLD LH 800sqft located in district 5. Potential is only is surroundings and the land ratio is under utilised. Up for collective sale b4,may takes 5,10,15yrs to happen again. I dun neo.

    We are paying premium price for exclusive quiet environment,facing greenery surrounded by condos and landed properties.
    Who will wan a condo in HDBland,with main road packed with heavy traffics up and down.
    whats OLD LH ? where ?

  7. #97
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    trend is flowing towards the smaller units and gone were the days where 3-4bdrm are in extreme demands...


    Pet

  8. #98
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    Quote Originally Posted by Petmail
    trend is flowing towards the smaller units and gone were the days where 3-4bdrm are in extreme demands...


    Pet
    ya but not small until you do cha cha ...
    3 step fwd in living room
    3 step back in kitchen
    3 step right is bed
    3 step left you are out of house

  9. #99
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    Quote Originally Posted by proud owner
    ya but not small until you do cha cha ...
    3 step fwd in living room
    3 step back in kitchen
    3 step right is bed
    3 step left you are out of house
    cha cha cha bo
    cha cha cha bo
    cha cha cha bo
    cha cha bo......

  10. #100
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    Quote Originally Posted by proud owner
    ya but not small until you do cha cha ...
    3 step fwd in living room
    3 step back in kitchen
    3 step right is bed
    3 step left you are out of house
    cha cha cha bo
    cha cha cha bo
    cha cha cha bo
    cha cha bo......

    Can set up dance school

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