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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 ...

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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?

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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 ?

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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

  11. #101
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    Quote Originally Posted by Property_Owner
    cha cha cha bo
    cha cha cha bo
    cha cha cha bo
    cha cha bo......

    Can set up dance school
    Hmm.. It should be...

    Cha Cha Cha Pimp!
    Cha Cha Cha Boom!
    Cha Cha Cha Pian!
    Cha Cha Tong!!!!!!!

  12. #102
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    Quote Originally Posted by isaaclim
    Hmm.. It should be...

    Cha Cha Cha Pimp!
    Cha Cha Cha Boom!
    Cha Cha Cha Pian!
    Cha Cha Tong!!!!!!!
    $1000psf can get you a condo in prime area these days.. but people still pay $1000psf for Alexis.. why?! guess cause prime areas dont really have that many "UNIQUE" condos with such small units?

  13. #103
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    Quote Originally Posted by proud owner
    whats OLD LH ? where ?
    Older development condo of 99yrs leasehold, at south buona vista road. Mins to sentosa,vivo, and city too.

  14. #104
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    Quote Originally Posted by toaler
    $1000psf can get you a condo in prime area these days.. but people still pay $1000psf for Alexis.. why?! guess cause prime areas dont really have that many "UNIQUE" condos with such small units?
    hahaha true true ... like i said if 3xx sqft can fetch a rent of $ 2k a mth

    then i sublet my master bedroom (bigger than 3xx sqft) for $1.5k at river valley ... my 1300 sqft ( 3 x 400 sqft ish) will be able to rent out at $6k ??

    indeed alexis is UNIQUE

  15. #105
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    Quote Originally Posted by toaler
    $1000psf can get you a condo in prime area these days.. but people still pay $1000psf for Alexis.. why?! guess cause prime areas dont really have that many "UNIQUE" condos with such small units?
    Actually it is not $1,000psf that people are looking at. It is the total investment cost.

    Say for $600K you pay at Alexis vs prime area, where will you choose? The answer is quite obvious. However, where can you find a $600K condo in prime that is FH?

    In bad time, people look at the overall cost to own a condo.

  16. #106
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    Quote Originally Posted by vin002
    Actually it is not $1,000psf that people are looking at. It is the total investment cost.

    Say for $600K you pay at Alexis vs prime area, where will you choose? The answer is quite obvious. However, where can you find a $600K condo in prime that is FH?

    In bad time, people look at the overall cost to own a condo.
    sad to say thats where they make mistake ...

    when it comes to property , remember, its

    Location Location Location & PSF PSF PSF

  17. #107
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    Quote Originally Posted by proud owner
    sad to say thats where they make mistake ...

    when it comes to property , remember, its

    Location Location Location & PSF PSF PSF

    I agree but not always people buy for $$$. Some just for own stay. Can make $$$ of course it is a bonus to them.

    HDB at $500K mark? In peak some area even sold for $700K or more!!!

    How much do you think they need to sell in order to breakeven? Unless they paid in full otherwise after factoring the interest, at least $600K or more. Do these people think that they can sell at this price?

    What I pray for them is that hope the block does not "En-bloc".

  18. #108
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    Quote Originally Posted by vin002
    Actually it is not $1,000psf that people are looking at. It is the total investment cost.

    Say for $600K you pay at Alexis vs prime area, where will you choose? The answer is quite obvious. However, where can you find a $600K condo in prime that is FH?

    In bad time, people look at the overall cost to own a condo.
    Yes,they look at the overall price to own a condo, but if they holding to a such small unit.. chances to sell away is slimmer,and enbloc in the many many years time is aso hard. small plot land ratio,already MAXED out liao on the blocks space and storey limits. no where to develop for more units. Land ratio so small, til the pool got to be on top of the condo building. it may be stylo, but infact they have not much space for the pool on the ground level isnt it..??

  19. #109
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    Quote Originally Posted by vin002
    I agree but not always people buy for $$$. Some just for own stay. Can make $$$ of course it is a bonus to them.

    HDB at $500K mark? In peak some area even sold for $700K or more!!!

    How much do you think they need to sell in order to breakeven? Unless they paid in full otherwise after factoring the interest, at least $600K or more. Do these people think that they can sell at this price?

    What I pray for them is that hope the block does not "En-bloc".
    i know not everyone buy for $$ gain

    my point is ...how to live in a 3xx sqft unit ??
    3xx sqft - living rm, bed rm , kitchen, toilet... ???
    scarey

    i really rather take the same $$ buy a HDB nearby, bigger some more
    ... and look into Alexis' pool ...and claim got pool view ...

    seriously guy 3xx sqft is really really tiny

  20. #110
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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

    ROFL... you guys are really funny!!!


    PEt

  21. #111
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    Quote Originally Posted by jwong71
    Yes,they look at the overall price to own a condo, but if they holding to a such small unit.. chances to sell away is slimmer,and enbloc in the many many years time is aso hard. small plot land ratio,already MAXED out liao on the blocks space and storey limits. no where to develop for more units. Land ratio so small, til the pool got to be on top of the condo building. it may be stylo, but infact they have not much space for the pool on the ground level isnt it..??

    if they build the pool at the ground then everybody else would be able to use the facilities.. who will still wanna stay in such condo? the facilities are exclusive to only the residents... as dun forget there are retail outlets on the ground floor. btw the maintenance is only $50/mth


    Pet

  22. #112
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    Quote Originally Posted by vin002
    I agree but not always people buy for $$$. Some just for own stay. Can make $$$ of course it is a bonus to them.

    HDB at $500K mark? In peak some area even sold for $700K or more!!!

    How much do you think they need to sell in order to breakeven? Unless they paid in full otherwise after factoring the interest, at least $600K or more. Do these people think that they can sell at this price?

    What I pray for them is that hope the block does not "En-bloc".
    HDB at 500k mark, least is spacious enuff to house in your 3generations. With plenty of space kids running ard.
    Sitting along the wall of 388sqft living room,looking at tv in a line.. to ensure each doesnt block the views of others.

    There aso retail shops below right, so does that mean there be no enclosed area like a normal condo.?? Then is there a guardpost as well??

  23. #113
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    Quote Originally Posted by Petmail
    if they build the pool at the ground then everybody else would be able to use the facilities.. who will still wanna stay in such condo? the facilities are exclusive to only the residents... as dun forget there are retail outlets on the ground floor. btw the maintenance is only $50/mth


    Pet
    Be it the pool on the ground or on the top, everyone get to shared it. Unless u got ur own pool, different storyline.
    Retail shops, does that means it not a enclosed area with security post ard. meaning u need to be near to a police post if anything happens.?
    FYI, maintenanance low doesnt mean good. COZY enbloc payout is aso based on ur maintenance and ur buildup area.

    $50 is cheap if u can park more than 1 car. or simply jus 1

  24. #114
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    Thumbs up

    Quote Originally Posted by Petmail
    Originally Posted by SL
    Pet, I really like the way you rev up the market sentiment.. I wish you work for my company to help rev up the sales so stop more heads from rolling. Refering to those mark in red in your quote.. I'm glad I did not believe in those countless sms/letter/emails that were sent to me saying I'm the VVIP. I asked a Hutton fellow who told me VVIP viewing on Feb-12, why some people I know of seemed to have viewed the unit and he denied my observations. He insisted that I'm VVIP and I will get the best of the best

    Sure this condo is "must buy best buy"..

    Please come and get hired in my company.


    Hi SL,

    You seriously wanna offer me a job ah? I not cheap one leh.... hehe... but but but.. can i still do real estate for part time in that case? will i get sack for moonlighting? lolz


    Pet

    think i kinda put you off on the interest to invite me into your company already...


    Pet

  25. #115
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    Quote Originally Posted by jwong71
    HDB at 500k mark, least is spacious enuff to house in your 3generations. With plenty of space kids running ard.
    Sitting along the wall of 388sqft living room,looking at tv in a line.. to ensure each doesnt block the views of others.

    There aso retail shops below right, so does that mean there be no enclosed area like a normal condo.?? Then is there a guardpost as well??
    ground floor is open... residential is not accessible except for residents. so if the pools and facilities are at ground floor then no exclusiveness to the residents anymore


    Pet

  26. #116
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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
    You are so funny!

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    well well well, no matter wat, congrats the developer/owners as its fully sold = one of the rare successful project in this downturn economy and looking forward to a nice icon in Alexandra area in 2yrs time !

  28. #118
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    Thumbs up

    looking forward to the support from all the fellow forumers for my coming projects!!!


    Pet

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    Hmm... I wonder how they will be able to invite friends over...
    maybe have to queue at entrance and go in ...
    crowd capacity is only 3 per apt...

  30. #120
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    Quote Originally Posted by focus
    Hmm... I wonder how they will be able to invite friends over...
    maybe have to queue at entrance and go in ...
    crowd capacity is only 3 per apt...
    3 only if they are midget sized

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