Will Rivergate hit 1k psf and below?

[qus]

i bought recently on one happy morning figuring what is the point of sitting on my cash.. might as well join the lemmings and have some fun.. no regrets...

[stalingrad]

i bought recently on one happy morning figuring what is the point of sitting on my cash.. might as well join the lemmings and have some fun.. no regrets...

When all you cash is gone, you will miss it. So do people who ploughed millions into minibonds.

ADP job cuts report was a disappointment last night, meaning that US unemployment rate is going to hit 10% come Friday. where are the green shoots that everyone is talking about?

China is not telling the truth about its economic downturn. We flew back from Taiwan last Saturday and saw a flotilla of tankers and bulk carriers moored off the coast of Changi, all unemployed and looking for cargo. in fact, there were so many ships on standby off Changi, you could jump from ship to ship without getting our feet wet.

Let's hope you are right, economy is on the mends. but it seems that you are dead wrong.

[jitkiat]

When all you cash is gone, you will miss it. So do people who ploughed millions into minibonds.

ADP job cuts report was a disappointment last night, meaning that US unemployment rate is going to hit 10% come Friday. where are the green shoots that everyone is talking about?

China is not telling the truth about its economic downturn. We flew back from Taiwan last Saturday and saw a flotilla of tankers and bulk carriers moored off the coast of Changi, all unemployed and looking for cargo. in fact, there were so many ships on standby off Changi, you could jump from ship to ship without getting our feet wet.

Let's hope you are right, economy is on the mends. but it seems that you are dead wrong.

Let's see whether S&P500 can hold 200d MA come Friday. I only believe in Mr Market, not Mr Stalin. Australia unemployment rate actually reduced in April due to Chinese's demand, are you saying they are bluffing as well? Dry Baltic Index still up 4% last night BTW.

[jitkiat]

London: The Baltic Dry Index, or BDI, a measure of shipping costs for commodities, advanced to its longest winning streak in almost three years on demand for vessels to haul iron ore to make steel.


The index tracking transport costs on international trade routes rose on Wednesday by 185 points, or 4.5%, to 4,291, according to the Baltic Exchange.


That’s a 23rd straight gain and the longest climb since July 2006.
Rates for capesize ships, typical iron ore carriers and the biggest in the gauge, rose 6.8% to $93,197 (around Rs44 lakh) a day.


Smaller panamaxes that compete for cargoes increased 5.3% to $28,110.
“Speaking to industry contacts, we sense the BDI is likely to continue to rebound in the near term, driven by continued demand for iron ore as well as congestion in China’s ports,” Jim Wong, a Hong Kong-based analyst with Nomura Holdings Inc., wrote in a report on Wednesday.


Chinese purchases of iron ore have increased as the government spends 4 trillion yuan ($586 billion) on housing, transportation and other projects to support the country’s economy.


Imports of the material rose to a record for a third consecutive month in April, national customs data show.

[stalingrad]

china does odd things, so you rely on these indicators at your own perils. It was china's purchase of crude that drove up the price to 150 in 2007. It was china's not buying crude that drove the price to 67 as of today. It is a planned economy, and the policy makers are not nimble enough to make rational decisions.

If you don't have faith in me, fine. Just look at what Temasek holdings is going lately. They sold their stakes in BOA, and barclay banks. If goodyear and ho ching think there are green shoots, would they have sold their bankings stakes? while I am sure that no one puts much stock in what ho ching is doing recently, what temasek is doing now is a sign that there are a lot of non-believers out there. the lee family certainly are non-believers.

[jitkiat]

I trust Jim Rogers more than Temasek actually ... he did warn about our government losing $$$ when Citibank still at 30USD. Personally, I don't believe US economy can go back to its glorious day anytime soon but that does not mean that we will have asset deflation in the next 6 months and property market in SG is going to crash like you believe:

What kind of a market are you witnessing now?

It's a bear market rally. I was going to say I don't think S&P 500 will see new highs. But I have to quickly temper that by saying against the dollar because the S&P 500 could triple from here if they print enough money and the value of the US dollar collapses, then S&P could go to 50,000, Dow Jones can go to 1,00,000.

Which is one reason why I am not shorting stocks right now. Because there is a possibility of this sort of a thing. There is a possibility that stocks could go through unheard of levels, but would be in worthless currency.

There is already an underlying fear that this mountain of cash will chase assets and eventually force central banks to mop up liquidity. How do you think this would play out?

I know they all say, 'Don't worry, we will reverse gears and take the excess liquidity out in time.' I don't believe them for a minute. No one has ever done it that way. When central bankers started trying to, it caused so much pain that they quickly reversed or have got rid of that central banker and put somebody else in.

I just don't think they could do it. That's why I am worried about the bond market and the inflation. If all central banks do it together, that's going to lead to higher unemployment, riots in the streets, civil unrests.

[august]

Let's see whether S&P500 can hold 200d MA come Friday. I only believe in Mr Market, not Mr Stalin. Australia unemployment rate actually reduced in April due to Chinese's demand, are you saying they are bluffing as well? Dry Baltic Index still up 4% last night BTW.

recent jump in production or shipping numbers is partially due to inventory replenishment which producers have allowed to run-down since 08Q4... things r stabilising, but that is not the same as a recovery..

[vin002]

recent jump in production or shipping numbers is partially due to inventory replenishment which producers have allowed to run-down since 08Q4... things r stabilising, but that is not the same as a recovery..

I agree with this statement. But true investors buy on foreseeing stablity and sell when everyone think that the market recovered. This is the time where most people are caught when the market suddenly turn around.

[bargain hunter]

then why is temasek putting more money into olam and nol?

china does odd things, so you rely on these indicators at your own perils. It was china's purchase of crude that drove up the price to 150 in 2007. It was china's not buying crude that drove the price to 67 as of today. It is a planned economy, and the policy makers are not nimble enough to make rational decisions.

If you don't have faith in me, fine. Just look at what Temasek holdings is going lately. They sold their stakes in BOA, and barclay banks. If goodyear and ho ching think there are green shoots, would they have sold their bankings stakes? while I am sure that no one puts much stock in what ho ching is doing recently, what temasek is doing now is a sign that there are a lot of non-believers out there. the lee family certainly are non-believers.

[vin002]

then why is temasek putting more money into olam and nol?

Haha... Good question.

By selling BOA and barclay, I don't think Temasek is non believers. I feel that they have workout their sum that which has a better potential for higher returns in long term.

[bargain hunter]

yeah, its just a portfolio rebalancing decision, sell BofA, Barclays, buy CCB, Olam, NOL. Just normal course of business. I don't think we can imply anything from that other than they believing in the future of the east more than the west.

Haha... Good question.

By selling BOA and barclay, I don't think Temasek is non believers. I feel that they have workout their sum that which has a better potential for higher returns in long term.

[august]

yeah, its just a portfolio rebalancing decision, sell BofA, Barclays, buy CCB, Olam, NOL. Just normal course of business. I don't think we can imply anything from that other than they believing in the future of the east more than the west.

aiyoh why u scold smelly bad word?

[bargain hunter]

China Construction Bank, listed name is really CCB

aiyoh why u scold smelly bad word?

[bargain hunter]

http://www.theedgesingapore.com/comp...et-reviva.html

not sure if this link can be read by non subscribers. Anway, its a feature on Capitaland and its projects in The Edge.

[cheerful]

http://www.theedgesingapore.com/comp...et-reviva.html

not sure if this link can be read by non subscribers. Anway, its a feature on Capitaland and its projects in The Edge.

Thanks ... can view.

It was said that ...
"..... The other site that CapitaLand purchased en bloc in recent years was Silver Tower, along Cairnhill Road. The developer paid $161 million, or $1,107 psf per plot ratio, for the 57,242 sq ft site. The new 100-unit, 20-storey luxury condo block that will be built there, Urban Resort, has yet to be launched. According to caveats lodged, there was a sole unit on the 17th floor that was sold for close to $8.2 million, or $3,866 psf, last September."

Don't think can see caveat at URA site leh ... only thing can view is 64 units in the project ..

[cheerful]

looks pretty aggressive .... rt issues

[cheerful]

Oops ... there is one lodged for Urban Resort .. ultra-rich who cld have gotten in before anybody else?

2,121 sq ft3,866 psfSep-08

[bargain hunter]

yeah, but at 3866psf?! sounds like an ultra-rich sucker.

Oops ... there is one lodged for Urban Resort .. ultra-rich who cld have gotten in before anybody else?

2,121 sq ft3,866 psfSep-08

[bargain hunter]

then again, buyer is assued that capitaland won't anyhow fire sell in a bad market. Seems like Capitaland won't anyhow sell their SUPER luxury projects but they just did so for The Wharf hee which they probably classify as "ONLY" luxury, or prime.

[dragonred]

I think it's the same issue that has a blatant PR sell about a person who has moved into Rivergate & loves it so much that they are not taking any vacations. Being at home feels like a break apparently. Did you guys read that?

[bargain hunter]

yup, i wanted to paste it here as well but the online version is still not available. Entitled "Smitten by the river view", its about this mother and daughter who absolutely loves the place. They also throw in this quote from Phyllicia Ang, senior associate director at Savills, "Many of the units transacted in the recent weekends have been at 1500psf, with some touching 1600psf." I believe there will be very good units which were transacted at 1500 to 1600psf but surely not that "MANY".

I think it's the same issue that has a blatant PR sell about a person who has moved into Rivergate & loves it so much that they are not taking any vacations. Being at home feels like a break apparently. Did you guys read that?

[Acer]

few mths back , i got an agent who offer 1k psf for a certain unit
is a fire sale

[bargain hunter]

Perhaps that 1kpsf offer was fake? there was this scam which tried to draw in buyers with the hope of buying at 1k (also trying to get panic sellers to throw out at 1k) but in the end a few lucky ones got in at 1100+ but many others got in at 1200.

What is truly amazing is that the Lippo units that Savills/Knight Frank have been marketing are the biggest units available in Rivergate and yet they are also commanding the highest psf at 1300psf to 1500+psf. However, some of the high floor units are the truly almost totally unblocked ones like stacks 6, 9 and 10. Stack 7 which the mother and daughter mentioned in the article are living in indeed also has a unique river view but gets west sun.

few mths back , i got an agent who offer 1k psf for a certain unit
is a fire sale

[qus]

I think it's the same issue that has a blatant PR sell about a person who has moved into Rivergate & loves it so much that they are not taking any vacations. Being at home feels like a break apparently. Did you guys read that?

hello there cute neighbour...

anyway, with afternoon sun, at least you can have your morning bfast on the balcony n your papers

[bargain hunter]

your cute neighbour takes morning walks with her mum daily leh. said balcony is an extended living room for entertaining hee.

hello there cute neighbour...

anyway, with afternoon sun, at least you can have your morning bfast on the balcony n your papers

[bargain hunter]

The first caveat for the Lippo units are out. Really transacted at above 1500psf.

Rivergate $2,568,800 1690sq ft 1520psf May-09

[qwertyuiop]

Hi BH, pardon me but how do you know if it was a Lippo unit?

The first caveat for the Lippo units are out. Really transacted at above 1500psf.

Rivergate $2,568,800 1690sq ft 1520psf May-09

[dtrax]

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]

it was just my guess becoz before lippo started selling, i would think no one would overpay above 1500psf for Rivergate's big units.

Hi BH, pardon me but how do you know if it was a Lippo unit?

[bargain hunter]

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.

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