Kembangan Suites (D14, Freehold)

[propertychap]

KS has elevated the prices of Kembangan area to a new level with 1200 psf. Vacanza nearby is commanding 1kpsf even though it is situated so much further away from the MRT. Just announced yesterday that Bedok is going to get a revamp for Bedok New Town which may have a spillover effect?
I am thinking would it be worthwhile looking at the older apartments near KS which may have potential for enbloc? Near by old apartments such as Kembangan plaza or Kembangan court? Seems like either the prices of the units there are asking for unrealistically high prices or there are not many units on sale. Any one has any views?

[propertychap]

My personal view is that KS is a good project given its freehold status and so near MRT. Where else in Singapore can you find a freehold project so near MRT ? And it is a good residential place near Telok Kurau District 15 and near to Bedok New Town and future Paya Lebar business hub?

[terence]

About KS, u may want to talk to bankers to see if they can meet the asking price of the owners. Couple of months back i had enquired and they were very reluctuant to meet even 1kpsf. A few can match 1kpsf but they were saying valuation on the high side....

[devilplate]

About KS, u may want to talk to bankers to see if they can meet the asking price of the owners. Couple of months back i had enquired and they were very reluctuant to meet even 1kpsf. A few can match 1kpsf but they were saying valuation on the high side....

they always based on last transacted price....so now shd be able to match 1200psf....

small project is like dat....even if let say next door launched at 2000psf and fully sold....KS valuation will still be 1.2kpsf.....it will slowly take a few buyers to buy above 'bank valuation' and slowly push up the value

[bullman]

My personal view is that KS is a good project given its freehold status and so near MRT. Where else in Singapore can you find a freehold project so near MRT ? And it is a good residential place near Telok Kurau District 15 and near to Bedok New Town and future Paya Lebar business hub?

Additional plus point is also the fact that it has been shielded from the MRT track noise by Kembangan Plaza. Just remember that in future, KP may be up for enbloc as well, so buy the side facing away.

[propertychap]

Does it mean that if an old apartment has few units and there are no sellers because owners hold on in the hope of enbloc, the valuation will not go up because there are no transactions? Do valuations based on valuations of units in other projects in the vicinity if there are no recent transactions?

[kellogs]

My personal view is that KS is a good project given its freehold status and so near MRT. Where else in Singapore can you find a freehold project so near MRT ? And it is a good residential place near Telok Kurau District 15 and near to Bedok New Town and future Paya Lebar business hub?

The treeline
The verte

[devilplate]

Additional plus point is also the fact that it has been shielded from the MRT track noise by Kembangan Plaza. Just remember that in future, KP may be up for enbloc as well, so buy the side facing away.

tat time i missed this project...coz choosy... ....actually non of the units got gd unblock facing leh...gd layout ones facing Kem plaza....inefficient 1+study den facing the other side....hard to pick sia....and also duno wat will b the shops below in future...hopefully decent ones

parc imperial and KS...which one better buy when they first launched....hmmm....parc imperial build damn fast or KS damn slow??

[devilplate]

Does it mean that if an old apartment has few units and there are no sellers because owners hold on in the hope of enbloc, the valuation will not go up because there are no transactions? Do valuations based on valuations of units in other projects in the vicinity if there are no recent transactions?

sadly, bank valuations/indication ONLY based on last few transacted price....i nvr bother to check bank valuation....coz i also noe how to value myself....hahaha


i tink tats the main reason y resale market r SLOW....ppl go check past transacted price ...bank cant match...den they go buy new launches whrby banks SURE match but in fact 20-40% higher!
unless u r toking about enbloc sales...den different story

[fiat500]

tat time i missed this project...coz choosy... ....actually non of the units got gd unblock facing leh...gd layout ones facing Kem plaza....inefficient 1+study den facing the other side....hard to pick sia....and also duno wat will b the shops below in future...hopefully decent ones

parc imperial and KS...which one better buy when they first launched....hmmm....parc imperial build damn fast or KS damn slow??

i just saw the layout,actually the 1+study @KS is a proper study room as compared to some other projects who market their units as 1+study but in actual fact its only a study area. big con job!
i'v checked there are not many units @ KS for sale @ the moment. most should be waiting for TOP i guess.

[bullman]

tat time i missed this project...coz choosy... ....actually non of the units got gd unblock facing leh...gd layout ones facing Kem plaza....inefficient 1+study den facing the other side....hard to pick sia....and also duno wat will b the shops below in future...hopefully decent ones

parc imperial and KS...which one better buy when they first launched....hmmm....parc imperial build damn fast or KS damn slow??

Most of the study rooms in the 1+1 layout can fit a single bed if you want to rent out as a 2br with 1 toilet. But must fix up own wardrobe.

PI was pretty quiet till TOP with run up to 1600 psf. Will we see a repeat in KS?

[propertychap]

If KS can transact at 1200 psf now, will it go higher after TOP? It is nearer to MRT than Parc Imperial or Lenox which should be a plus point? So can go higher psf? Then nearby older apartments price will go up too?

[bullman]

If KS can transact at 1200 psf now, will it go higher after TOP? It is nearer to MRT than Parc Imperial or Lenox which should be a plus point? So can go higher psf? Then nearby older apartments price will go up too?

For such a project, you expect an increase of 200-300 psf upon TOP or slightly after that.

[propertychap]

I am contemplating to purchase a freehold 2 bedroom unit in a 15 year old apartment very near to Kembangan MRT with a rental yield of 4%.
Anyone has any views whether this is a good buy?

[devilplate]

I am contemplating to purchase a freehold 2 bedroom unit in a 15 year old apartment very near to Kembangan MRT with a rental yield of 4%.
Anyone has any views whether this is a good buy?

no details how to comment

[propertychap]

Its a 15 year old freehold apartment with swimming pool common facilities. 2bedroom asking 800K with floor area 1200 sqft very spacious. Internal conditions look good. 2 mins walk to Kembangan MRT. Ready tenant. Rental yield at 4%. Should I consider this or new project like Vacanza? Any suggestions/ideas?

[devilplate]

Its a 15 year old freehold apartment with swimming pool common facilities. 2bedroom asking 800K with floor area 1200 sqft very spacious. Internal conditions look good. 2 mins walk to Kembangan MRT. Ready tenant. Rental yield at 4%. Should I consider this or new project like Vacanza? Any suggestions/ideas?

only 666psf...sounds good? with patio or standard unit? 1200sqft is really big for 2bedder....

Vacanza NO NO!

[Regulators]

is this condo in D14 or D15. I believe you are referring to the Lor Mazuki side

Its a 15 year old freehold apartment with swimming pool common facilities. 2bedroom asking 800K with floor area 1200 sqft very spacious. Internal conditions look good. 2 mins walk to Kembangan MRT. Ready tenant. Rental yield at 4%. Should I consider this or new project like Vacanza? Any suggestions/ideas?

[DC33_2008]

It may be cyclical with people go back to older condo as it is more affordable and has better layout.

only 666psf...sounds good? with patio or standard unit? 1200sqft is really big for 2bedder....

Vacanza NO NO!

[bullman]

Its a 15 year old freehold apartment with swimming pool common facilities. 2bedroom asking 800K with floor area 1200 sqft very spacious. Internal conditions look good. 2 mins walk to Kembangan MRT. Ready tenant. Rental yield at 4%. Should I consider this or new project like Vacanza? Any suggestions/ideas?

From rental yield perspective:
It sounds reasonable at 4%, at 1200 sqft, you should be able to partition 2 more rooms and rent out all 4 individually to achieve 6+ % yield.

From Capital gain perspective:
Your best bet will be enbloc. Unless someone don't mind a 20 year old unit 5 years down the road. Did you find out the plot size of the development? You should compare it with the asking price of surrounding landed to make a comparison and gauge it from a developer's point of view, if an enbloc is feasible or will one just buy off a stretch of landed to develop.

Even with an enbloc potential, how much psf can you get? Lets say 866 psf, the new development will be selling at 1466 psf. (300psf profit and 300 psf build). You make 200 psf = 240k gross = 220 k net.
The next most important question, are you happy with it?

I went through the same thought/ research process when speculating/gambling back then at Meyer Road area.

[propertychap]

Thanks for all your comments and feedback. Really appreciate the diversity of opinions and views here. This apartment is near the Kembangan plaza side and so is D14 and from what I checked out, Kembangan plaza units listings have been at a high of 1kpsf which looks crazy for an old project. The only plus point which warrants that type of price is the close proximity to the MRT station. But then again, it is not easy to find a freehold unit so near MRT nowadays. Any other such projects near MRT anyone can suggest ?

Kembangan suites is commanding 1200psf at the moment based on caveats lodged so I reckon the price will go up some more closer to TOp. This may well bring up the prices of older apartments in the vicinity.
I was attracted by 2 points to the apartment. So near MRT and spacious layout for a 2 bedroom. I am thinking like what bullman suggested to partition another room to make it into a 3 room unit if I do purchase this. As usual, the agent is playing with buyer's sentiment saying that the unit is a rare find and grab before it is gone etc.

I am also looking at Guillemard View which is about 500-600 m from Dakota MRT station and Aljunied MRT station, which of course is not as near to MRT as the kembangan unit. Kembangan is a more affluent area I guess than Guillemard? So would attract richer people? But Guillemard is closer to town .... Any one has any views on older apartments nearer to the Geylang side ??

The new launches have gone out of reach for small time investors like myself and resale market is the next best alternative to look at.

[kingkong1984]

haha... invest more and invest now. Forget all these and get MM's.

[propertychap]

What's your reason for your confidence in MM?
Kembangan suites is considered as MM? But psf is so high?

[terence]

i guess as long as unit area is from 300-600 considered mm unit.

A FH condo near MRT is Goldenhill, opp Lorong Chuan MRT. IMO, much much better than KS. Condofacilities, plus international school, plus good size units.

[devilplate]

i guess as long as unit area is from 300-600 considered mm unit.

A FH condo near MRT is Goldenhill, opp Lorong Chuan MRT. IMO, much much better than KS. Condofacilities, plus international school, plus good size units.

jus did a quick check...units there r asking 12xxpsf for standard units

sian....last time during launch nvr get a unit at The Chuan (i still rmb the ugly main door)

[kingkong1984]

For MM's

http://sbr.com.sg/markets-investing/...its-remain-hot

Against MM's

http://bensonkoh.com/2010/the-proble...y-mouse-units/

Simply by the growing sales for MM's and loss in purchasing power

[propertychap]

At 1200psf, I do not know what is the further upside for investors?

[devilplate]

At 1200psf, I do not know what is the further upside for investors?

KS 1200psf bcoz its MM.....standard units in tat area around 9xxpsf

MMs in kovan/srgn area aso 12xxpsf and with space@kovan at 13xx-14xxpsf....1200psf at KS is not the biggest suxckers

u can also chk out Cosmo vs geylang apts just across....y so much diff in PSF

[kingkong1984]

it looks as if until the next wave of suckers comes along...

with new ruling. HDB owners are keeping HDB's and would channel their demand to MM's.

Some might retire in it while their kids get new HDB's while others would just rent it out.

[bullman]

KS 1200psf bcoz its MM.....standard units in tat area around 9xxpsf

MMs in kovan/srgn area aso 12xxpsf and with space@kovan at 13xx-14xxpsf....1200psf at KS is not the biggest suxckers

u can also chk out Cosmo vs geylang apts just across....y so much diff in PSF

A good observation on this aspect. In my dream again, I can see a trend towards a base psf of $1500 for most MM units.

An easy way to calculate will be looking at rental yield ? Studio rental PSF in the kembangan area looks like hovering at $5. At $1200 psf buy in, the yield is 5%. Even at a record $1500 psf, the yield is still 4% and reasonable for many.

Beyond $1500 psf would be anyone's guess. Take PI as a good example.