Page 8 of 33 FirstFirst ... 345678910111213182328 ... LastLast
Results 211 to 240 of 980

Thread: Ascentia Sky (D3, 99 years, Wing Tai / United Engineers)

  1. #211
    teddybear's Avatar
    teddybear is offline Global recession is coming....
    Join Date
    Mar 2009
    Posts
    10,800

    Default

    What price has this AS been sold? Is it really $1350 psf? Is it 1 or 2 units only for marketing purposes? What other goodies/discounts/Interest absorption/renovation ang pao they give (which artificially prop up the selling price on paper?). Would really be interested to know the profile of buyer. Developers sure like these 'people'!

    Quote Originally Posted by bargain hunter
    Over at Kim Eng Research, Wilson Liew sounds more upbeat. He singles out Wing Tai Holdings as an interesting play.
    “After speaking to property agents, we believe that the launch of Ascentia Sky (on Alexandra Road) is imminent. We have raised our average selling price assumption to $1,100 psf, and based on an estimated breakeven of $984 psf, we no longer believe that a provision is necessary for this site – Wing Tai may in fact make a small profit,” he observes.

    Interestingly, hordes of owners who had bought units under the deferred payment scheme were reported to be at the adjacent The Metropolitan (which recently received its temporary occupation permit) over the weekend trying to ‘flip’ their units. They were reported to be asking for $1,100 psf to $1,200 psf from interested buyers.

    Liew has a buy recommendation on Wing Tai. “Buying the stock is cheaper than physical property,” he reckons. “As the sales outlook improves, we have upgraded our FY09-10 forecasts by 4.9% and 13.2% respectively.” He has a target price of $1.79, and the counter closed at $1.42 on Wednesday. Missed the queue? Consider property stocks.

  2. #212
    Join Date
    Nov 2008
    Posts
    164

    Default

    Quote Originally Posted by esurprise
    Actually it is nothing to be surprise.

    If developers launches projects, the response not so good, they will either drop price or very mostly likely stop the launch and relaunch it in a few months time with a more attractive prices, at the prevailing market pricing.

    Alot of developers have done that, i'm sure alot of forummer are aware and have personally benefited from it in this process.

    Nothing to be surprise.
    I agree but not all projects. If you are talking about small scale developer - yes. I have ever encounter a project sold at $1300psf-$1400. But subsequently selling at $950-$1000psf. It was snapped up like "hot cakes" despite small unit size with big planter and balcony!

    For AS, like I mentioned, it is impossible to get at below $1000 psf from developer due to land cost. I guess the lowest that they will yield is $1100psf. Unless there is another launch nearby selling at a lower psf, there is no way Wingtai will want to lower the price as they are commanding the market at that area currently. There are no competition. It is almost like, you want to stay around this area, pay this price. This is something that a value investors that most of you here will not understand. Therefore, I also have a feeling that this maybe a sellout project as well although I disagree with the current pricing.

    Some of you may talk about logic but in real situation, there are no logic to talk about such as "The Sail" can ask at $2000psf!

  3. #213
    Join Date
    May 2009
    Posts
    38

    Default

    Quote Originally Posted by vin002
    I agree but not all projects. If you are talking about small scale developer - yes. I have ever encounter a project sold at $1300psf-$1400. But subsequently selling at $950-$1000psf. It was snapped up like "hot cakes" despite small unit size with big planter and balcony!

    For AS, like I mentioned, it is impossible to get at below $1000 psf from developer due to land cost. I guess the lowest that they will yield is $1100psf. Unless there is another launch nearby selling at a lower psf, there is no way Wingtai will want to lower the price as they are commanding the market at that area currently. There are no competition. It is almost like, you want to stay around this area, pay this price. This is something that a value investors that most of you here will not understand. Therefore, I also have a feeling that this maybe a sellout project as well although I disagree with the current pricing.

    Some of you may talk about logic but in real situation, there are no logic to talk about such as "The Sail" can ask at $2000psf!
    Correct, Singapore buyer sooner or later will buy in. It is not about logic at all, its about afraid to miss the boat too.

    That is why being a marketeer i also know the consumer behaviour and i'll build every room with planters & Bay window + big big Balcony. Anyway some sucker sooner or later will bite.

    And end of the year i'll get big big bonus and btw, they are giving 1% big big commission to agent too.

  4. #214
    Join Date
    Apr 2009
    Posts
    60

    Default

    Quote Originally Posted by esurprise
    Actually it is nothing to be surprise.

    If developers launches projects, the response not so good, they will either drop price or very mostly likely stop the launch and relaunch it in a few months time with a more attractive prices, at the prevailing market pricing.

    Alot of developers have done that, i'm sure alot of forummer are aware and have personally benefited from it in this process.

    Nothing to be surprise.
    Haha..They will say they launch 10 units and 8 sold and advertise 80% sold! This is why they launch the project at different stages beside adjusting the prices (usually higher and higher)....marketing strategy...Like it or not, there will be some cash rich & desperate people who fall into the category of the 8 who buy the condo.

  5. #215
    Join Date
    Jun 2009
    Posts
    187

    Default

    Quote Originally Posted by Cactus72
    Haha..They will say they launch 10 units and 8 sold and advertise 80% sold! This is why they launch the project at different stages beside adjusting the prices (usually higher and higher)....marketing strategy...Like it or not, there will be some cash rich & desperate people who fall into the category of the 8 who buy the condo.
    The poor desperate people.... poor thing...

  6. #216
    Join Date
    Apr 2009
    Posts
    5,841

    Default

    At least there is some logic to the sail asking for that price. projects like Soleil, Zenith or Lucida selling for $1700psf is ridiculous.

    Quote Originally Posted by vin002
    Some of you may talk about logic but in real situation, there are no logic to talk about such as "The Sail" can ask at $2000psf!

  7. #217
    Join Date
    May 2008
    Posts
    9,279

    Default

    I am not sure what is the success rate for the few floors they released for sale without allowing buyers to go to showflat.


    Quote Originally Posted by teddybear
    What price has this AS been sold? Is it really $1350 psf? Is it 1 or 2 units only for marketing purposes? What other goodies/discounts/Interest absorption/renovation ang pao they give (which artificially prop up the selling price on paper?). Would really be interested to know the profile of buyer. Developers sure like these 'people'!

  8. #218
    teddybear's Avatar
    teddybear is offline Global recession is coming....
    Join Date
    Mar 2009
    Posts
    10,800

    Default

    No news means not so optimistic sales lah. Buyers who buy at >$1000 psf probably needs to wait till 2015 or later before they can even resell for a profit!

    Quote Originally Posted by bargain hunter
    I am not sure what is the success rate for the few floors they released for sale without allowing buyers to go to showflat.

  9. #219
    Join Date
    Nov 2008
    Posts
    164

    Default

    Quote Originally Posted by Regulators
    At least there is some logic to the sail asking for that price. projects like Soleil, Zenith or Lucida selling for $1700psf is ridiculous.
    Actually, if we are taking about local buyers, we are more rationale due to familar with the market. But if foreign investors/buyers, I am not so sure. Eg. Compare with HK, our property are still damn cheap and value for money. I was told that some lousy property could cost $1.5m, has open carpark with no shelter and long walk to their lift lobby.

  10. #220
    Join Date
    Nov 2008
    Posts
    164

    Default

    Quote Originally Posted by teddybear
    No news means not so optimistic sales lah. Buyers who buy at >$1000 psf probably needs to wait till 2015 or later before they can even resell for a profit!
    Not all buyers buy for a purpose to sell. So what if cannot sell. They can stay for 10 to 20 years.

    But one thing I am sure, for new property, the price for this location will not drop further till Wing Tai sold out AS.

  11. #221
    Join Date
    Nov 2008
    Posts
    164

    Default

    Quote Originally Posted by bargain hunter
    I am not sure what is the success rate for the few floors they released for sale without allowing buyers to go to showflat.
    Don't be surprise, I already heard agents have cheque in their hands ready to grab.

  12. #222
    Join Date
    Jun 2009
    Posts
    187

    Default

    Quote Originally Posted by vin002
    Not all buyers buy for a purpose to sell. So what if cannot sell. They can stay for 10 to 20 years.

    But one thing I am sure, for new property, the price for this location will not drop further till Wing Tai sold out AS.
    It is not up to wing tai to decide the market price. They can still sell at the price they want, but is there any buyer??? On the other hand, If the rest of the sellers around the same area need to sell at lower price I think wing tai may follow, as they need to clear they 99 leasehold stocks.

    The more they delay, the lesser the balance of years left.

    How to stay with sure a high loan. Every month they need to pay around $4,000 to $5,000 for 80% loan for the 1 m house. ($800,000 loan)

    Even can pay also no money to eat lah...

  13. #223
    Join Date
    Apr 2009
    Posts
    5,841

    Default

    these nuts that handed in cheques still have time to back out so long as they dont sign anythng.
    Quote Originally Posted by vin002
    Don't be surprise, I already heard agents have cheque in their hands ready to grab.

  14. #224
    Join Date
    May 2008
    Posts
    9,279

    Default

    Now that you mentioned eat, I think buy martin place better, if no money to eat just walk next door to the temple to eat the free food everyday. Tell them have just enough money to pay loan, no money to eat.


    Quote Originally Posted by Honesty
    It is not up to wing tai to decide the market price. They can still sell at the price they want, but is there any buyer??? On the other hand, If the rest of the sellers around the same area need to sell at lower price I think wing tai may follow, as they need to clear they 99 leasehold stocks.

    The more they delay, the lesser the balance of years left.

    How to stay with sure a high loan. Every month they need to pay around $4,000 to $5,000 for 80% loan for the 1 m house. ($800,000 loan)

    Even can pay also no money to eat lah...

  15. #225
    Join Date
    Jun 2009
    Posts
    187

    Default

    Quote Originally Posted by bargain hunter
    Now that you mentioned eat, I think buy martin place better, if no money to eat just walk next door to the temple to eat the free food everyday. Tell them have just enough money to pay loan, no money to eat.
    Ha ha ha...I like that.

  16. #226
    Join Date
    Jun 2009
    Posts
    187

    Default

    BTW, can anyone tell me is AS consider mass condo?

    I saw today ST, they are asking for $1300 to $1500 psf.

    If it is a mass condo, how the mass afford?

    If it is a up market condo, than this place does not look like. They might as well buy river valley or newton or bukit timah for that price.

  17. #227
    Join Date
    Feb 2009
    Posts
    148

    Default

    Quote Originally Posted by Honesty
    BTW, can anyone tell me is AS consider mass condo?

    I saw today ST, they are asking for $1300 to $1500 psf.

    If it is a mass condo, how the mass afford?

    If it is a up market condo, than this place does not look like. They might as well buy river valley or newton or bukit timah for that price.
    The article already mentioned the developer is just trying to take advantage of the rising tide in the recent rally madness; even though it defies logical reasoning... Thereafter the article also reported that the current rally and prices are highly unlikely to be sustainable. Hence the conclusion is: YOU BEEN FOREWARNED!

  18. #228
    Join Date
    May 2008
    Posts
    9,279

    Default

    well, agents had SMS me 10xx to 13xx after discounts for low to high floor so i guess 1300 to 1500 is the fixed price that they have and they will vary the discounts from there depending on market sentiments. i guess you can either call it the upper most tier of the mass market or the lowest tier of the mid market.


    Quote Originally Posted by Honesty
    BTW, can anyone tell me is AS consider mass condo?

    I saw today ST, they are asking for $1300 to $1500 psf.

    If it is a mass condo, how the mass afford?

    If it is a up market condo, than this place does not look like. They might as well buy river valley or newton or bukit timah for that price.

  19. #229
    Join Date
    Mar 2009
    Posts
    333

    Default

    so far...mass market seems to be those <$1k psf.

  20. #230
    Join Date
    May 2008
    Posts
    9,279

    Default

    that's why Ascentia Sky (Ask for the Sky) want to market themselves as mid market by tagging on tanglin hahaha

    Quote Originally Posted by jonleelk
    so far...mass market seems to be those <$1k psf.

  21. #231
    teddybear's Avatar
    teddybear is offline Global recession is coming....
    Join Date
    Mar 2009
    Posts
    10,800

    Default

    $1300-1500 is illusionary price for marketing purposes to stir up interest (because before discount) so that the project appears more upper market and high class?

    Quote Originally Posted by bargain hunter
    well, agents had SMS me 10xx to 13xx after discounts for low to high floor so i guess 1300 to 1500 is the fixed price that they have and they will vary the discounts from there depending on market sentiments. i guess you can either call it the upper most tier of the mass market or the lowest tier of the mid market.

  22. #232
    Join Date
    Jun 2009
    Posts
    19

    Default

    That is definately overprice for 99 yrs and in district 3
    Might as well buy Metropoli if that is the case and you really wanted to buy that area and near MRT

  23. #233
    Join Date
    May 2009
    Posts
    38

    Default

    Quote Originally Posted by bargain hunter
    well, agents had SMS me 10xx to 13xx after discounts for low to high floor so i guess 1300 to 1500 is the fixed price that they have and they will vary the discounts from there depending on market sentiments. i guess you can either call it the upper most tier of the mass market or the lowest tier of the mid market.

    It is all Marketing Marketing Marketing!! Developers say intend to "launch" at a certain high price and preview give you a 8%+2% discount. It is designed to make you feel like a good buy right?

    This kind of gimmick, everyone don't know meh? Diamond sales discount, Bridal exhibition all the same lah.

    It is always "Mr Potential Buyer, this discount price is only till tonite, tomorrow, the price will be revised" or "Mr Potential, this price is very attractive, i understand another buyer is ging to place check"


    Mind you, this project, agents are being paid more commission than others, that means agent will go all out to hardsell.

  24. #234
    Join Date
    Jun 2009
    Posts
    187

    Default

    Quote Originally Posted by esurprise
    It is all Marketing Marketing Marketing!! Developers say intend to "launch" at a certain high price and preview give you a 8%+2% discount. It is designed to make you feel like a good buy right?

    This kind of gimmick, everyone don't know meh? Diamond sales discount, Bridal exhibition all the same lah.

    It is always "Mr Potential Buyer, this discount price is only till tonite, tomorrow, the price will be revised" or "Mr Potential, this price is very attractive, i understand another buyer is ging to place check"


    Mind you, this project, agents are being paid more commission than others, that means agent will go all out to hardsell.
    Many buyers are just plain stupid, and many are just kiasu.

    I am sure they also know about the market situation now as all the analysts said that it is not sustainable, but they have nothing to do at home and so rich that want to throw some money away... so go and buy house.

    The developer will love them....always....

  25. #235
    Join Date
    Nov 2008
    Posts
    32

    Default

    When people with their own money chase up the market -u call them stupid and lemmings. When you ride on their coat-tails and manage to sell off your property at a higher price - you annouced smugly that you are being clever. Lets stop all these bullshit hypocrisy, shall we!? Its a free market afterall.


    Quote Originally Posted by Honesty
    Many buyers are just plain stupid, and many are just kiasu.

    I am sure they also know about the market situation now as all the analysts said that it is not sustainable, but they have nothing to do at home and so rich that want to throw some money away... so go and buy house.

    The developer will love them....always....

  26. #236
    Join Date
    Mar 2009
    Posts
    705

    Default

    Quote Originally Posted by esurprise
    Mind you, this project, agents are being paid more commission than others, that means agent will go all out to hardsell.
    hi pal, care to share how did u know abt this ... was it mentioned in the papers? Thot agent commission shld be fixed percent ... hmm so developers can up it to encourage hard-sell ah ...

  27. #237
    Join Date
    May 2009
    Posts
    38

    Default

    Quote Originally Posted by cheerful
    hi pal, care to share how did u know abt this ... was it mentioned in the papers? Thot agent commission shld be fixed percent ... hmm so developers can up it to encourage hard-sell ah ...
    Hi Cheerful!!

    The commission thingy wasn't mentioend in the paper but you can be sure this information is true.

    As for your question on "Thot agent commission shld be fixed percent?" The agent commission is as fixed as the you believe to be ..... :-)
    No lah, there are market stardard when it comes to new launch agent commission however, developer can give more or give less depending, who need who more? If the project is sure sell, for example if developer really price to sell, the developer will already know that the project will sell by itself. In this case, developer will not offer a low commssion. Agents on the other hand, are also happy to take up such projects because since its been priced to sell, it will be a very easy effortless sales. It will be just order taking and therefore commision are, sort of, a sure thing, no doubt lesser.

    In cases where deveopers are setting the price to test the market (greter challenge to agents), it will give higher, than market rate, commission. In this case, it place a higher dependent on agents to hardsell, bullshiting, pressuring like "Mr Buyer, the project already 80% sold, and this offer price only for tonite only after tonite, developer will be revising the price" or "another buyer check will be coming in if you are not going to act fast"

    i understand sometime these claims are true, epseically when projects are genuinely price to sell. However, i must say that most times, these claims are just sales tactic used to close project and collect a higher than market rate commission from developer.

    So you understand now? - developers give out higher than market rate commission to agents because buyer already paid higher, than market rate, 1)psf, 2)buying the extra number of plantters in each room and bay wondows and 5) an extra large balcony :-)


    BTW, if the developers fail to test the market successfully, they can stop the launch and relaunch it again in a short time. This new relaunch, they can set a realistic psf and the developer will also revise agent commission down accordingly.

    Let put it this way, if for certain reason, like due to poor judgement, developer bought a land at a high price and thus have to launch it at high price. It doesn't mean that buyer must bite. Let those that made a poor judgement responsible for it. The clock of a 99yrs pcs of land is ticking, who should worry more?

    Ever play muscial chair? If anyone is going to buy it at high price from developer, you need to know that developer rotten egg has just been past to you. it will your responsibility to look for another sucker, in time to come, to catch your rotten. Otherwise, you'll have to rot with it by paying high mortgages, especially when interest rate is revise up in time to come.

    Cheers

  28. #238
    teddybear's Avatar
    teddybear is offline Global recession is coming....
    Join Date
    Mar 2009
    Posts
    10,800

    Default

    Compared to HK, generally our pay here also damn cheap (they are like 50%-100% more than here).

    Quote Originally Posted by vin002
    Actually, if we are taking about local buyers, we are more rationale due to familar with the market. But if foreign investors/buyers, I am not so sure. Eg. Compare with HK, our property are still damn cheap and value for money. I was told that some lousy property could cost $1.5m, has open carpark with no shelter and long walk to their lift lobby.

  29. #239
    Join Date
    Nov 2008
    Posts
    164

    Default

    Quote Originally Posted by Honesty
    It is not up to wing tai to decide the market price. They can still sell at the price they want, but is there any buyer???
    Of course it is up to them to decide the price unless there is competition. Look at the key word "competition". Yes, the neighbour may be selling cheaper but they are the only new condo launch in that area as least within the 20km range.

    Most of the buyers will prefer to buy from developer or new project which is the fact. In addition, for those buyers that have previously stayed out of the market in Dec 08 to Apr 09 and waiting for the price to drop further have now fear that if they don't take the opportunity now they may have to wait even longer.

  30. #240
    Join Date
    Nov 2008
    Posts
    164

    Default

    Quote Originally Posted by KT_Lim
    When people with their own money chase up the market -u call them stupid and lemmings. When you ride on their coat-tails and manage to sell off your property at a higher price - you annouced smugly that you are being clever. Lets stop all these bullshit hypocrisy, shall we!? Its a free market afterall.
    I totally agree. In fact, I want to thank them for upping the value of the property that I owned.

Similar Threads

  1. United Engineers wins S$368.8m tender for Dairy Farm site
    By Arcachon in forum Singapore Private Condominium Property Discussion and News
    Replies: 2
    -: 11-09-18, 20:36
  2. United Engineers’ largest shareholders seeking buyout: Bloomberg sources
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 05-01-17, 16:20
  3. United Engineers buys two HP buildings for $402m
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 1
    -: 19-09-13, 12:00
  4. United Engineers to sell UE BizHub East for $518m
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 08-07-13, 12:33
  5. Replies: 262
    -: 16-05-12, 14:42

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •