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

  1. #61
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    Quote Originally Posted by nav14
    I would never pay $1100psf for any project in that location with shops at ground level. If it is a proper condo I will consider but maybe around 950 - 1000psf based on current sentiment. For this kind of price I would have been better off buying Newton Edge for eg.

    Sold well because of aggressive marketing and the small sized units which means low outlay. Marketing started a long time ago.

    Okie bro.. you support me buy newton edge too... steady?


    Pet

  2. #62
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    I would only say Alexsis is a good buy for rental investment. For home stay, how many of you have stayed in a <650 sqft house?

    But for rental investment, it is based on at least rental $3,300 per month. This may not be a substainable figure in current climate.

    Near MRT? How many of you have walked to the station? Look like a 2 bus-stop away distant if you really walk. So how do you define near?

    One side is facing West sun and the the other side is facing the road (noisy). The worst is the stack nearest to the MRT track. Is this something that most will consider for home stay? Actually, I forsee the worst to be those units below th pool. Not only affected by road noise, if below the motor-room, it will be even more noisy. For long run, I wonder how good will their water proofing of the pool be...

    The only attractive part is the price (Total purchase price - not psf) and freehold.

    Many buyers rush to buy based on the low total price, therefore, very few really go into details of the west sun, road noise, walking distant to MRT, actual size, etc.

    So for stay or investment? Your view?

  3. #63
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    i just went to view a 1000sq ft 1 bedrm penthouse at another project and found that unlivable.

    A 300sqft alexis is ridiculous, abt as big as a hotel81 room. Those who bought this at 1000psf - even if for pure rental - good luck to you.

  4. #64
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    Quote Originally Posted by gfoo
    i just went to view a 1000sq ft 1 bedrm penthouse at another project and found that unlivable.

    A 300sqft alexis is ridiculous, abt as big as a hotel81 room. Those who bought this at 1000psf - even if for pure rental - good luck to you.
    Well said gfoo, I simply cannot believe it. I guess most bought it to try to get good rental returns from it. Otherwise, for long term family stay, this project is a big NO NO.

  5. #65
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    You're being optimistic abt rentals. A 635sqft umfurnished loft at Central clarke quay is going for 2800. Alexis is in hdbland and much further out fr city center. At so cramped, rentals maybe say $1200 at best. That's 2% yield. This fr start is a negative yielding project.

    Put another way say i get long term stay at panpac under corporate lease. Still more worth it than alexis after inputing taxes and utilities.

  6. #66
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    since i quite chor boh today, i'm going to start another 'think aloud' session.

    let's look at rental yields. we know that the benchmark yield for Singapore is about 4-6%. let's take 5% yield which is more or less in-line with inflation.
    Thus a $2000 rental equates to a $480,000 property. Let's do a list, with the corresponding property rentals at today's prices (Feb 09)

    $2000 - $480k (ICON, studio, 550sqft)
    $2500 - $600k (The Sail, studio, 657sqft)
    $3000 - $720k ([email protected], loft, 645sqft)
    $3500 - $840k (Sanct Green, 3bdrm, 1711sqft)
    $4000 - $960k (Caribbean, 3bdrm, 1647sqft, low floor)
    $4500 - $1.08m (Carribbean, 3bdrm, 1340sqft, high flr, really great view)

    All these properties were launched more or less during the last bottom, about 2003. Other than Sanctuary Green, all are near MRT.

    If you look at the 5% yield formula, you will find that those are freakingly almost exactly the launch price of those properties in 2003/4. And they are fetching about 5% rental yield now.

    Thus for the Alexis at $480k, you will need a monthly rental income of $2000 to get 5% yield. Do you think one can rent a 3xx sq ft apartment at $2000 in 3 years time when TOP?

    $2000 p.m. to rent a unit facing either west sun or traffic, not really close to town, large enough only to fit 2 pax shoulder to shoulder, no dining area, no study, no kitchen, no real living room.

    in 2007, $2000 pm maybe can pray. Today's prices, I give it maybe $1200. Max maybe $1500pm for that rich sucker out there.

    But even if i take $1500pm, then the value of that Alexis unit is $360,000.

    All of the above assumes that we have already hit the bottom, and that the economy will at least stay the same till Alexis TOP in 2012. Do you really think so?

    I think singaporeans are still not yet in recession mindset. things are only going to get worse

  7. #67
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    Quote Originally Posted by gfoo
    i just went to view a 1000sq ft 1 bedrm penthouse at another project and found that unlivable.

    A 300sqft alexis is ridiculous, abt as big as a hotel81 room. Those who bought this at 1000psf - even if for pure rental - good luck to you.
    like i said earlier its like a hotel development ~

  8. #68
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    Quote Originally Posted by gfoo
    You're being optimistic abt rentals. A 635sqft umfurnished loft at Central clarke quay is going for 2800. Alexis is in hdbland and much further out fr city center. At so cramped, rentals maybe say $1200 at best. That's 2% yield. This fr start is a negative yielding project.

    Put another way say i get long term stay at panpac under corporate lease. Still more worth it than alexis after inputing taxes and utilities.

    Bro, honestly.. hotel 81 room got such a big space meh? suites type you mean... in that case you calculate how much it cost you a month then. say normal rooms: $49/nite x 30 nites = $1470/mth. then if same size of Alexis will be the Hotel81 Suites then $80/nite x 30 nites = $2400/mth!!! Alexis if $450k, 100% loan then monthly instalment: $1957/mth!!! you get to cook and eat in Alexis while hotel81 does not allows cooking at all. end of the day, do we get to own hotel81?

    Rental wise, if Alexis with facilities only $1200/mth then how much a hdb in Meiling, Stirling, Queenstown, Commonwealth without facilities should cost? may be $500/mth?

    Then maybe maintenance for Alexis also be charging more rather than $50/mth since with facilities and a hdb avg already charging $45/mth.


    Pet

  9. #69
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    pwah you know hotel81 size and rates quite well ah .

  10. #70
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    Quote Originally Posted by gfoo
    since i quite chor boh today, i'm going to start another 'think aloud' session.

    let's look at rental yields. we know that the benchmark yield for Singapore is about 4-6%. let's take 5% yield which is more or less in-line with inflation.
    Thus a $2000 rental equates to a $480,000 property. Let's do a list, with the corresponding property rentals at today's prices (Feb 09)

    $2000 - $480k (ICON, studio, 550sqft)
    $2500 - $600k (The Sail, studio, 657sqft)
    $3000 - $720k ([email protected], loft, 645sqft)
    $3500 - $840k (Sanct Green, 3bdrm, 1711sqft)
    $4000 - $960k (Caribbean, 3bdrm, 1647sqft, low floor)
    $4500 - $1.08m (Carribbean, 3bdrm, 1340sqft, high flr, really great view)

    All these properties were launched more or less during the last bottom, about 2003. Other than Sanctuary Green, all are near MRT.

    If you look at the 5% yield formula, you will find that those are freakingly almost exactly the launch price of those properties in 2003/4. And they are fetching about 5% rental yield now.

    Thus for the Alexis at $480k, you will need a monthly rental income of $2000 to get 5% yield. Do you think one can rent a 3xx sq ft apartment at $2000 in 3 years time when TOP?

    $2000 p.m. to rent a unit facing either west sun or traffic, not really close to town, large enough only to fit 2 pax shoulder to shoulder, no dining area, no study, no kitchen, no real living room.

    in 2007, $2000 pm maybe can pray. Today's prices, I give it maybe $1200. Max maybe $1500pm for that rich sucker out there.

    But even if i take $1500pm, then the value of that Alexis unit is $360,000.

    All of the above assumes that we have already hit the bottom, and that the economy will at least stay the same till Alexis TOP in 2012. Do you really think so?

    I think singaporeans are still not yet in recession mindset. things are only going to get worse
    eh.. i personally dun think anybody will ever knows when and where's the bottom unless we are god.. you are making comparison of the rental yield between TOP projects against projects under construction which is totally not fair to be honest, the projects that you have listed with rental indication are those that got hit by the credit crunch during the last 6mths. to be fair also, have you also considered those average rental that was secured during economic slow down period in may-septembe before lehmann bros case? Please refer to the following remarks in RED which is in line with the URA Records of at least 10 transactions in Qtr4/2008.

    $4000/mth(10%) $2000 - $480k (ICON, studio, 550sqft)
    $4500/mth(9%) $2500 - $600k (The Sail, studio, 657sqft)
    $6500/mth(9%) $3500 - $840k (Sanct Green, 3bdrm, 1711sqft)
    $8500/mth(10%) $4000 - $960k (Caribbean, 3bdrm, 1647sqft, low floor)
    $8500/mth(9%) $4500 - $1.08m (Carribbean, 3bdrm, 1340sqft, high flr, really great view)

    Cheers!

    Pet

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