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Thread: East Coast Price Watch

  1. #1
    Junior

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    Default East Coast Price Watch

    Starting this thread for tracking purposes. This is based on newspaper prices, propguru and other online sources for the areas i'm interested in. Comments & contributions are of course welcome. Please add on any updates you might have:


    15/1

    Apt Status:
    2006 Telok Kurau : $480psf
    Beacon Edge Tembeling: $780psf
    Vitra Tembeling: $620psf

    Semi Condo:
    Poshgrove: $615psf
    Grand Duchess: $795psf
    Terra Vue: $735psf
    Ola Residences: $960psf (just because Lian Beng paid Bravo $42m for land)

    Condos:
    One Amber/Esta: $800psf
    The Sea View: $1080psf
    Last edited by gfoo; 15th January 2009 at 11:08 AM.

  2. #2
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    Hi gfoo,

    We share a common goal which is buying property in the Amber area. I have been viewing some 4 bdrm apts at Esta and Seaview. All owners still asking for 900+psf for Esta and 1100+psf for Seaview.

    According to the agents the buyers all have holding power, which i guess could be partly true since the properties have TOP and their DPS loans would have kicked in. So I will continue to sound out the sellers with my super low offers (700-750 psf) and hopefully hit the jackpot.

  3. #3
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    You joker gfoo........anyway yahoo was also born like this !!!!!!!!!!!!!


    yahooooooooooooooooooooooooooooooooooo!!!!!
    gfooooooooooooooooooooooooooooooooooooo!!!!

  4. #4
    Junior

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    Quote Originally Posted by Sean.G
    Hi gfoo,

    We share a common goal which is buying property in the Amber area. I have been viewing some 4 bdrm apts at Esta and Seaview. All owners still asking for 900+psf for Esta and 1100+psf for Seaview.

    According to the agents the buyers all have holding power, which i guess could be partly true since the properties have TOP and their DPS loans would have kicked in. So I will continue to sound out the sellers with my super low offers (700-750 psf) and hopefully hit the jackpot.
    your offer of $700-750psf may not be low enuf.... a drop of only 36%. not realistic. i see a correction to $550psf as there's pressure on prices from units within the CBD area. prices for D9, 10 and D11 new launches are coming down...those have seen correction to more than 40%. Check with valuer.

  5. #5
    Junior

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    yah lor - woohoooooooooooo!

    wait 3 months, and let's see who has the last laugh.

    the only thing that can stop this decline is mass inflation or superinflation.

    heaven forbid hyperinflation, then no one wins

    but all that fiat being pumped into the system will take its time to work itself into main street, until then, i think deflation still rules the day for the next couple of years

  6. #6
    Junior

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    Quote Originally Posted by gfoo
    yah lor - woohoooooooooooo!

    wait 3 months, and let's see who has the last laugh.

    the only thing that can stop this decline is mass inflation or superinflation.

    heaven forbid hyperinflation, then no one wins

    but all that fiat being pumped into the system will take its time to work itself into main street, until then, i think deflation still rules the day for the next couple of years
    From URA one unit 1,561 sqft done at $737psf in Dec 2008. Hence my view that this will go further down due to D9-11 price pressure will probably happen after CNY.

  7. #7
    Junior

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    Citibank's Price Estimates
    16 Jan 2009

    Last transacted in 4Q2008 (preliminary)
    Tierra Vue $771
    Grand Duchess $661
    One Amber $852
    Makena $1000
    Costa Rhu $899
    Mandarin Gardens $655
    Bayshore Park $797

    "Similarly for the mid-tier segment, where prices have already fallen some 20% from their peaks a year ago, we think prices are likely to reach 1998 levels rather than the 2003 levels in the absence of an overall housing oversupply. This would imply a further price decline of around 35% from current levels or approximately 45% from their peaks"

    Which means according to Citibank, fair value will be:

    (actuals)
    Ardmore $1248
    Makena $700
    Costa Rhu: $507
    Mandarin Gardens $384
    Bayshore Park $428

    (35%)
    Tierra Vue $501
    Grand Duchess $429
    One Amber $554

    Comments anyone?

    For Tierra Vue and Grand Duchess i have to agree they might reach that point sooner than later, as prices just 1 or 2 lorongs away are already at that level.

    How about One Amber?

    My biggest worry is that if banks start valuing loans based on these citibank/ubs reports, even if you take 15% above projected, that will price One Amber at $630. That means down the road loans might have probs

  8. #8
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    Not totally related, but why does Citi classify Esta as mass market, but One Amber as mid-segment?

  9. #9
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    that is because Citi bankers and anal-lysts are bunch of idiots, would you listen to someone who cannot even keep their own act together....

    Fair price for condos in the east with decent views and layouts should hold their price, as for the rest god bless those who bought them anyway, because no one wants them....

  10. #10
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    well, if citibank is right, they wont be in such a deepshit now. Still got ppl believe in such bank?? hahahahaha

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