Will Rivergate hit 1k psf and below?

[dtrax]

judging from dtrax's accurate caveat, it seems like its not a lippo unit because lippo owns all the even numbered floors of stacks 6 to 10. Perhaps 27-09 was sold before Lippo released their units for sale and 23-09 was riding with Lippo which asked for more than 1500psf.

So seller at 23-09 laughing all the way to bank and despo buyer for this unit bot not knowing he tio carrothead?

[bargain hunter]

maybe buyer compared with lippo 22-09 also asking 1520 and he said, hey 23-09 better buy, i may as well get this one. #23 got one big sky garden above stack 07 which ends at #22 mah.

don't say carrothead lah, look out for more 1500 to 1560psf deals done by lippo for stack 6 to 10 in the weeks to come. then it becomes "normal". valuation can match. whatever you call it.

So seller at 23-09 laughing all the way to bank and despo buyer for this unit bot not knowing he tio carrothead?

[dtrax]

maybe buyer compared with lippo 22-09 also asking 1520 and he said, hey 23-09 better buy, i may as well get this one. #23 got one big sky garden above stack 07 which ends at #22 mah.

don't say carrothead lah, look out for more 1500 to 1560psf deals done by lippo for stack 6 to 10 in the weeks to come. then it becomes "normal". valuation can match. whatever you call it.

ya carrothead is very subjective since the prices in RG are holding quite well.. but as compared to the similar transactions for the month, it is considered overpaid.. though i can attest view form stack 9 > $20 is consider very gd

[bargain hunter]

yeah, my picks are stack 9, 5 (impossibly ex) and 10 (4 bedroom). but all out of reach already.

ya carrothead is very subjective since the prices in RG are holding quite well.. but as compared to the similar transactions for the month, it is considered overpaid.. though i can attest view form stack 9 > $20 is consider very gd

[dtrax]

yeah, my picks are stack 9, 5 (impossibly ex) and 10 (4 bedroom). but all out of reach already.

for homestay or investment?

[bargain hunter]

both i guess. i wouldn't buy a unit i would not feel like staying in for investment anyway.

for homestay or investment?

[qus]

So seller at 23-09 laughing all the way to bank and despo buyer for this unit bot not knowing he tio carrothead?

how are u able to tell the unit number from the caveat? from the ura site, there are no details.

[proud owner]

how are u able to tell the unit number from the caveat? from the ura site, there are no details.

pay up ..and your see alot more detail

[bargain hunter]

dtrax, or anyone else able to see, can help out? i am curious what are the unit numbers for the most expensive Lippo units whose caveats just shown up today.

$2,878,880 1894sq ft 1520psf Jun-09
$3,059,500 2110sq ft 1450psf May-09
$2,944,080 2088sq ft 1410psf Jun-09
$2,923,200 2088sq ft 1400psf Jun-09

and the oddly low:

$2,214,880 1744sq ft 1270psf Jun-09

Interesting because Lippo units said to be sold between 1380psf to 1560psf but if the low prices hit are Lippo units means that prices were negotiable afterall.

Lippo or not, i personally feel that person really over pay as compared to the other RG units transacted prices since most are doing 1.3-1.4k+ psf

As to whether it is the Lippo units, you just need to know which unit number and cross-check with the lit of units for sale by them.

From what I see the Rivergate $2,568,800 1690sq ft 1520psf May-09 is #23-09 which imo is really overpay compared to the same stack, but 4 flrs higher, #27-09 sold @ onie $1.4k psf which is also log in caveat on May as well

[bargain hunter]

btw, the seller of 27-09 bought at 1150 in march! made a cool 400k within 2 months. explains why he would sell at 1400psf when 23-09 paid 1520psf.

Lippo or not, i personally feel that person really over pay as compared to the other RG units transacted prices since most are doing 1.3-1.4k+ psf

As to whether it is the Lippo units, you just need to know which unit number and cross-check with the lit of units for sale by them.

From what I see the Rivergate $2,568,800 1690sq ft 1520psf May-09 is #23-09 which imo is really overpay compared to the same stack, but 4 flrs higher, #27-09 sold @ onie $1.4k psf which is also log in caveat on May as well

[qus]

fortune favours the brave..

[dtrax]

dtrax, or anyone else able to see, can help out? i am curious what are the unit numbers for the most expensive Lippo units whose caveats just shown up today.

$2,878,880 1894sq ft 1520psf Jun-09
$3,059,500 2110sq ft 1450psf May-09
$2,944,080 2088sq ft 1410psf Jun-09
$2,923,200 2088sq ft 1400psf Jun-09

and the oddly low:

$2,214,880 1744sq ft 1270psf Jun-09

Interesting because Lippo units said to be sold between 1380psf to 1560psf but if the low prices hit are Lippo units means that prices were negotiable afterall.

$2,878,880 1894sq ft 1520psf Jun-09 - #28-10 - Lippo (SW facing)
$3,059,500 2110sq ft 1450psf May-09 - #20-08 - Lippo (SW facing)
$2,944,080 2088sq ft 1410psf Jun-09 - #08-06 - Lippo (NW facing)
$2,923,200 2088sq ft 1400psf Jun-09 - #16-06 - Lippo (NW facing)

and the oddly low:

$2,214,880 1744sq ft 1270psf Jun-09 - #10-09 - Lippo (NE facing)
- this one also lippo's unit but on firesale???

[bargain hunter]

that means can bargain and those who did not have been conned by lippo!

$2,878,880 1894sq ft 1520psf Jun-09 - #28-10 - Lippo (SW facing)
$3,059,500 2110sq ft 1450psf May-09 - #20-08 - Lippo (SW facing)
$2,944,080 2088sq ft 1410psf Jun-09 - #08-06 - Lippo (NW facing)
$2,923,200 2088sq ft 1400psf Jun-09 - #16-06 - Lippo (NW facing)

and the oddly low:

$2,214,880 1744sq ft 1270psf Jun-09 - #10-09 - Lippo (NE facing)
- this one also lippo's unit but on firesale???

[qus]

unit with bad view?

[bargain hunter]

#10-09 is fine. Not fantastic but at least a open view. Since Lippo units were reported to be on sale FROM 1380 to 1560psf, 1270psf looks like it was achieved after the buyer made the lower bid instead of taking Lippo's asking price. That means actually Lippo's units asking price are quite negotiable and those who bought at their asking prices have been conned.

unit with bad view?

[pweesng]

#10-09 is fine. Not fantastic but at least a open view. Since Lippo units were reported to be on sale FROM 1380 to 1560psf, 1270psf looks like it was achieved after the buyer made the lower bid instead of taking Lippo's asking price. That means actually Lippo's units asking price are quite negotiable and those who bought at their asking prices have been conned.

no one has been conned lah... it's a case of willing buyer and willing seller. Do remember that sellers are not obliged to give the buyers the best price, neither is the buyer obliged to pay the highest price possible in the market...

[bargain hunter]

well, this is an institutional seller (as opposed to individuals) and agents (some of whom i spoke to personally) said prices were not negotiable but it is turning out to be negotiable afterall. So I was just feeling for the buyers who paid the asking price thinking that its not negotiable. If I'm them, I would feel conned.

no one has been conned lah... it's a case of willing buyer and willing seller. Do remember that sellers are not obliged to give the buyers the best price, neither is the buyer obliged to pay the highest price possible in the market...

[pweesng]

well, this is an institutional seller (as opposed to individuals) and agents (some of whom i spoke to personally) said prices were not negotiable but it is turning out to be negotiable afterall. So I was just feeling for the buyers who paid the asking price thinking that its not negotiable. If I'm them, I would feel conned.

Well then it is the agents that were conning people. Coz AFAIK, the seller had never insisted on the fact that selling price are non-negotiatiable. In any case, no offense intended. If i want to sell you something, and then i told you the price is non-negotiable and you agreed on it, and we do the deal. After a few days, i decided to sell another unit slightly cheaper.... you also cannot call me a con man mah... hahaha...

[bargain hunter]

yeah, that's true. But an experienced and trusted agent i spoke too said he was also initially led to believe that the prices by Lippo were non-negotiable. It was only later that he found out that they in fact were. No choice, property is like that, there are always people with more privileged info.

Well then it is the agents that were conning people. Coz AFAIK, the seller had never insisted on the fact that selling price are non-negotiatiable. In any case, no offense intended. If i want to sell you something, and then i told you the price is non-negotiable and you agreed on it, and we do the deal. After a few days, i decided to sell another unit slightly cheaper.... you also cannot call me a con man mah... hahaha...

[qus]

can see the next series of caveats out tomorrow.. is it confirmed that was a lippo unit?

[bargain hunter]

yeah, all the even floors of block 97 (ie stacks 6,7,8,9,10) formerly owned by Lippo.

can see the next series of caveats out tomorrow.. is it confirmed that was a lippo unit?

[bargain hunter]

heard that things have gone all quiet at rivergate. no more agents camping there. few transactions done since the 2nd half of last month. those serious sellers have joined lippo in selling at 13xx to 15xx. those ask for the sky sellers have raised their asking prices to 1600psf and above but no one is biting. stalemate is back.

[august]

heard that things have gone all quiet at rivergate. no more agents camping there. few transactions done since the 2nd half of last month. those serious sellers have joined lippo in selling at 13xx to 15xx. those ask for the sky sellers have raised their asking prices to 1600psf and above but no one is biting. stalemate is back.

not realistic one lor.. how many own stayers can there be?
as long as rental yield continue at current lvl or slide, makes no sense for investors to match such asking prices ..

[Honesty]

not realistic one lor.. how many own stayers can there be?
as long as rental yield continue at current lvl or slide, makes no sense for investors to match such asking prices ..

Right, too expensive to stay lor. If no tenant, really don't know how to service the loan every month.

[DW]

heard that things have gone all quiet at rivergate. no more agents camping there. few transactions done since the 2nd half of last month. those serious sellers have joined lippo in selling at 13xx to 15xx. those ask for the sky sellers have raised their asking prices to 1600psf and above but no one is biting. stalemate is back.

The sky high prices is unfortunate, particularly for myself whom have a vested interest in procuring a unit there.

This said, I personally believe the current stalemate is a result of demand-supply. Given the existing owners are asking for such prices and considering they have not been able to sell their units (I assumed this is the case) and there is no sign of reduction on owners part... could it also mean the owners are not keen to sell and prepare to hold. My view is that, in an efficient dynamic market, demand supply forces will always drive prices down, IF owners are looking to sell.

If my presumption of owners are indeed not looking to sell is correct, any views on why that might be so ?

1. They are looking for the upturn to happen for a high priced flip later?
2. Owners whom are asking for such prices are those whom have been extremely successful at the rental market and thus asking for a match sale price to match the high rental they managed to secure?

On a side note, does anyone know whats the occupancy level is like in Rivergate ? All non-homestay units are all successfully rented out at sustainable yield levels ?

[Honesty]

The sky high prices is unfortunate, particularly for myself whom have a vested interest in procuring a unit there.

This said, I personally believe the current stalemate is a result of demand-supply. Given the existing owners are asking for such prices and considering they have not been able to sell their units (I assumed this is the case) and there is no sign of reduction on owners part... could it also mean the owners are not keen to sell and prepare to hold. My view is that, in an efficient dynamic market, demand supply forces will always drive prices down, IF owners are looking to sell.

If my presumption of owners are indeed not looking to sell is correct, any views on why that might be so ?

1. They are looking for the upturn to happen for a high priced flip later?
2. Owners whom are asking for such prices are those whom have been extremely successful at the rental market and thus asking for a match sale price to match the high rental they managed to secure?

On a side note, does anyone know whats the occupancy level is like in Rivergate ? All non-homestay units are all successfully rented out at sustainable yield levels ?

Singapore is only RECOVERING now not RECOVERED. People now is paying recovered price. WHY, WHY,WHY....Prices now is selling at end 2007 and early 2008 when the economy is at it peak before it slump in oct 2008. It's still a long way to go before the real economy pick up.

Owners and developers can only ask for recovering price not recovered price.

[teddybear]

These people scare miss the boat mah. Scarely the boat capsized and have to be turned around to start all over again.

Singapore is only RECOVERING now not RECOVERED. People now is paying recovered price. WHY, WHY,WHY....Prices now is selling at end 2007 and early 2008 when the economy is at it peak before it slump in oct 2008. It's still a long way to go before the real economy pick up.

Owners and developers can only ask for recovering price not recovered price.

[jitkiat]

The sky high prices is unfortunate, particularly for myself whom have a vested interest in procuring a unit there.

This said, I personally believe the current stalemate is a result of demand-supply. Given the existing owners are asking for such prices and considering they have not been able to sell their units (I assumed this is the case) and there is no sign of reduction on owners part... could it also mean the owners are not keen to sell and prepare to hold. My view is that, in an efficient dynamic market, demand supply forces will always drive prices down, IF owners are looking to sell.

If my presumption of owners are indeed not looking to sell is correct, any views on why that might be so ?

1. They are looking for the upturn to happen for a high priced flip later?
2. Owners whom are asking for such prices are those whom have been extremely successful at the rental market and thus asking for a match sale price to match the high rental they managed to secure?

On a side note, does anyone know whats the occupancy level is like in Rivergate ? All non-homestay units are all successfully rented out at sustainable yield levels ?

They are waiting for IR to open

[teddybear]

IR open means property prices will go up? Scarely a lot of these people gamble until bankcrupt and come out to sell their properties at fire-sale prices?

They are waiting for IR to open

[jitkiat]

IR open means property prices will go up? Scarely a lot of these people gamble until bankcrupt and come out to sell their properties at fire-sale prices?

May b may b not ... depends but since it is only less than 1 year ... I guess they can at least gamble on this one first loh