Heard preview beginning this Friday.................. let's see the response.
Newbie
Heard preview beginning this Friday.................. let's see the response.
F01 N54 Sheer Driving Pleasure
Hong Kong luxury segment has already hit S$6,000 psf (HK$30,025 psf)Originally Posted by trump7
Still now high level properties like Orchard residences have not started to be recovered yet. But condos like Kovan melody which is in sub-urban area, they have been up much recently.
When high level properties had been up almost 50
% increased in whole of yeatr 2007, mid-tier(sub-urban) properties couldn`t have been up so much comparing to high level ones.
In 2008, due to finance turnmoil, hdb and mass market condos started to be raised due to relocation of liquidity of money from high level, but still mid-tier condos weren`t affected.
I have predicted that once the sign of recovery started, condos in mid-tier would be mostly increased, since the price gap between high level and mid-tier is so wide, but mass market & mid-tier was so narrow, and so fastly it turned out exactly same with my thought.
Not every condo price is increasing at the same time.
So cannot compare Orchard residence price and kovan melody price at this stage, with just only reason that they are both leasehold.
Let's see if Singapore CCR can catch up.
Hong Kong luxury home deals triple on mainland buyers
Bloomberg
Hong Kong
Tuesday, 6 October 2009
Hong Kong’s luxury home sales almost tripled in September from a month earlier, as mainland Chinese residents flocked to buy flats in the city.
The registered sales of residential units worth more than HK$10 million ($1.3 million) rose to 1,351 from 500 in August, according to Land Registry figures released yesterday. A one- bedroom flat in Kowloon sold for a record HK$24.5 million, Centaline Property Agency Ltd. said last month.
Luxury home prices in Hong Kong climbed as much as 28% in the first nine months of the year, as low mortgage costs fueled buying, according to Colliers International Ltd. Prices may rise by between 5 and 10% in the next 6 to 12 months, the global real-estate broker said last month.
“The luxury home market is very active,” Buggle Lau, chief analyst at Midland Holdings Ltd., said by phone today. “Capital from the mainland and overseas is contributing.”
There is “enormous liquidity and buying” from Chinese residents, Martin Cubbon, executive director of Swire Pacific Ltd., said Sept. 29.
The aggregate number of homes registered increased to 12,285 from 11,250 in August, the government said on its Web site.
“We probably will see consolidation after home prices, especially luxury apartments, jumped quite a bit, because the market thinks interest rates may have bottomed out,” Credit Suisse analyst Cusson Leung said in a telephone interview.
Mortgage Rates
Mortgage rates in Hong Kong are the lowest in at least 19 years as banks seek to offset slower demand for other types of credit.
Lenders have cut mortgage rates “to such an extent that they might not have given due regard to the reputation risk, interest rate risk and liquidity risk potentially associated with their pricing,” Hong Kong Monetary Authority Deputy Chief Executive Y.K. Choi said Sept. 17.
“Average mortgage rates are going to pick up gradually,” Peter Wong, head of the Hong Kong unit of HSBC Holdings Plc, said in the city last week.
New mortgage loans approved fell 8.2% in August from a month earlier to HK$34.2 billion, the HKMA said last month.
Hong Kong home prices may fall in coming months as Chinese investors face a slowdown in lending growth at home, reducing their buying power, said Leung at Credit Suisse. “Mainland investors’ appetite goes along with growth of liquidity in China, which has already showed signs of slowing down,” he said.
Loans in China
China’s banks extended 410.4 billion yuan ($60.1 billion) of local-currency loans in August, up from 355.9 billion yuan in July, according to official figures. New lending in September may fall to a range between 300 billion and 400 billion yuan, China Banking Regulatory Commission Chairman Liu Mingkang said yesterday.
A one-bedroom apartment at the Masterpiece development in Hong Kong’s Kowloon district was bought for HK$30,025 psf last month, a record for a property of that type in the city, Centaline said. The home, with space of 816 square feet (75 square meters) was sold for HK$24.5 million.
Hong Kong is the world’s 5th-most expensive residential real estate market, after Monte Carlo, Moscow, London and Tokyo, according to Global Property Guide.
Newbie
[quote=moneyspinner][quote=andy]Theoretically, not only leasehold, also freehold ones as well.Due to LH, Soleil will definitely depreciate as time goes by..
/
Theoretically, yes. Especially, when the lease is reduced substantially over time. However, sometimes location overides. So it all depends on demand and supply and the attraction of the development.!
There are so many eg. in the market, that old freehold condo in not attractive location and still never draw buyer`s attention than old leasehold one in good location.
When people want to buy house, only two reason.
Want to stay or for renting-out. All require good location with convenience.
People talk leasehold is depreciating but forget that actually they bought their leasehold condo 20-25% cheaper than freehold one...
Office Boy
The leasehold and FH premium is abt 16-18%.
If you find anything out of line, then can buy the cheaper one.
Senior
problem is now the LH are so expensive and in a bull market ... when LH is only 5 pct cheaper than FH in same area .. people will buy LH ..sad
F01 N54 Sheer Driving Pleasure
Ho Bee prices Trilight at $1,650 psf
Far East sells 12 units at Alba in Cairnhill at average $2,300 psf
Kalpana Rashiwala
The Business Times
Wednesday, 7 October 2009
Ho Bee Investment will preview its Trilight condo at Newton Road this week at an average price of about $1,650 per sq ft, the group's chairman and CEO Chua Thian Poh told BT yesterday.
Ho Bee will not offer an interest absorption scheme (IAS) for the 30-storey freehold condominium project, located on the highest point in the Newton area.
The $1,650 psf average price will be for an initial batch of 60 units. The condo will have a total 205 units, up from 152 planned initially. The increase results from Ho Bee's decision to introduce two-bedroom units and reduce the number of four-bedders. Previously Trilight had only three- and four-bedroom apartments.
The latest scheme comprises 104 two-bedroom units ranging from 1,109 to 1,227 sq ft; 74 three-bedders in two sizes (2,099 and 2,110 sq ft) and 24 four-bedroom apartments of 2,336 sq ft. Trilight will have three penthouses - two units of 5,200 sq ft and one of 5,800 sq ft.
The typical two-bedder will cost under $2 million.
CB Richard Ellis and DTZ will market the project.
Market watchers say the $1,650 psf average price is within the range of recent transactions in the area. In nearby Bukit Timah Road, units at Ferrell Residences sold for between $1,556 psf and $1,931 psf in July-August.
And Madison Residences nearby sold at $1,567-1,745 psf in August, according to Urban Redevelopment Authority information on developer sales.
The high-end housing market is stirring again after Hungry Ghost Month. Far East Organization has sold a dozen units over the past couple of weeks at its Alba project in Cairnhill Rise. The unit sizes are 1,862, 2,066 and 2,250 sq ft.
They are among a clutch of 18 units Far East released on the second to seventh levels of the 18-storey freehold condo, which has a total of 50 units. The average price achieved for the 12 units sold is $2,300 psf, with the highest price being $2,500 psf.
Under the freehold project's 'white plan', Far East can customise apartment layouts to suit buyers' preferences.
Newbie
Wow. look like some units could be cheaper than Viva and R@E
Ho Bee prices Trilight at $1,650 psf
Far East sells 12 units at Alba in Cairnhill at average $2,300 psf
Kalpana Rashiwala
The Business Times
Wednesday, 7 October 2009
Ho Bee Investment will preview its Trilight condo at Newton Road this week at an average price of about $1,650 per sq ft, the group's chairman and CEO Chua Thian Poh told BT yesterday.
Ho Bee will not offer an interest absorption scheme (IAS) for the 30-storey freehold condominium project, located on the highest point in the Newton area.
The $1,650 psf average price will be for an initial batch of 60 units. The condo will have a total 205 units, up from 152 planned initially. The increase results from Ho Bee's decision to introduce two-bedroom units and reduce the number of four-bedders. Previously Trilight had only three- and four-bedroom apartments.
The latest scheme comprises 104 two-bedroom units ranging from 1,109 to 1,227 sq ft; 74 three-bedders in two sizes (2,099 and 2,110 sq ft) and 24 four-bedroom apartments of 2,336 sq ft. Trilight will have three penthouses - two units of 5,200 sq ft and one of 5,800 sq ft.
The typical two-bedder will cost under $2 million.
CB Richard Ellis and DTZ will market the project.
Market watchers say the $1,650 psf average price is within the range of recent transactions in the area. In nearby Bukit Timah Road, units at Ferrell Residences sold for between $1,556 psf and $1,931 psf in July-August.
And Madison Residences nearby sold at $1,567-1,745 psf in August, according to Urban Redevelopment Authority information on developer sales.
The high-end housing market is stirring again after Hungry Ghost Month. Far East Organization has sold a dozen units over the past couple of weeks at its Alba project in Cairnhill Rise. The unit sizes are 1,862, 2,066 and 2,250 sq ft.
They are among a clutch of 18 units Far East released on the second to seventh levels of the 18-storey freehold condo, which has a total of 50 units. The average price achieved for the 12 units sold is $2,300 psf, with the highest price being $2,500 psf.
Under the freehold project's 'white plan', Far East can customise apartment layouts to suit buyers' preferences.
Trilight or R@E? What's your take given the huge planters?
Newbie
[quote=andy]Wow. look like some units could be cheaper than Viva and R@E
Trilight or R@E? What's your take given the huge planters?[/quote
In terms of 3-bedders,
VIVA at 1.9x mio - 2.3 mio -- now subsale at how much? anybody knows?
Trilight must be above 3.3 mio! --main gain is only bigger balcony and planter
Of course VIVA make more sense esp it is more convenience for daily shopping/tuition/eating.
I've no idea about R@E
Senior
Precisely, andy, don't be focusing so much on only the psf. the sizes are vastly different and that makes the total quantum important. a 3 bedder at trilight is 2099 or 2110 sq ft. a 4 bedder is 2336 sq ft. I won't be surprised if the 4 bedder is priced at a higher psf than the 3 bedders since the 3 bedders are abnormally big and the 4 bedders are not that much bigger in sq ft and are rare at just 24 units vs 74 units of 3 bedders.
the 4 bedders would probably average at 1650psf but maybe the 3 bedders will average 1550psf. even then, i still think 3.25m for a 3 bedder is really expensive especially considering the big balcony, planter, bay windows and air-con ledge.
[quote=chenjdd]
Office Boy
Trilight is of course more prime than Viva.
Senior
at least that's what ho bee is trying to market it as.targeting an even higher end segment with this kind of quantum.
F01 N54 Sheer Driving Pleasure
Let's see the picture?
F01 N54 Sheer Driving Pleasure
Is this FH pricing high or low compared to LH pricings in:Heard that this project is going to be launched for sale soon, indicative pricing is $1650 - 1800+ psf.
- D12 Toa Payoh: $1,222 psf
- D20 Ang Mo Kio: $1,289 psf
- D19 Serangoon: $1,100 psf (or maybe higher?)
?
15 bids received for residential site at Serangoon Aveune 3
Channel NewsAsia
Wednesday, 7 October 2009, 1900 hrs
The Urban Redevelopment Authority (URA) received 15 bids at the close of the tender for the residential site at Serangoon Avenue 3 on Wednesday.
The site, which was originally on the Reserve List of the Government Land Sales Programme, was launched for public tender on September 9. The 99-year leasehold site has an area of about 13,877 square metres and a maximum permissible gross floor area of 38,857 square metres.
Intrepid Investments submitted the highest bid of S$221.2 million, followed by Tuas Hi-Tech Park at S$195.9 million and Keppel Land at S$190 million. The lowest bid of S$120 million came from Lippo Estates.
Li Hiaw Ho, Executive Director, CBRE Research, said: "The popularity of the Serangoon Avenue 3 site is evidenced by the 15 bids that were submitted as well as their price quantum.
"Developers are very confident of this site because it is situated next to the Lorong Chuan MRT station and is close to the Australian International School. It is also close to amenities in Serangoon Gardens and the upcoming shopping mall, nex, at Serangoon Interchange station."
CBRE said the top bid of S$221.2 million works out to S$529 per square foot per plot ratio and is 164% above the reserve price of S$83.7 million.
"This price will likely translate into a breakeven price of about S$900 psf to S$950 psf for the future condominium project to be built on this site. Based on this breakeven estimate, the possible selling price could range from S$1,000 psf to S$1,100 psf," said Li.
Recent caveats of nearby properties - The Chuan, a 999-year leasehold condo development, and the freehold Goldenhill Park - showed selling prices ranging from S$830 to S$1,000 psf, while those in the 99-year leasehold The Springbloom were selling at S$600 to S$700 psf.
URA said a decision on the award of the tender for the Serangoon Avenue 3 site will be made after the bids have been evaluated.
Newbie
Viewed the showflat today. In term of finishes and layout, Newton One is better. In term of price, quite close to each other.at least that's what ho bee is trying to market it as.
Newbie
Yes I agree that Triglight finishes are not impressive at all. Not sure if N1 rounded corners layout is better.
However no ISD frosted glass for Trilight. N1 is pretty much blocked by ISD frosted glass.
Trilight is slightly higher $psf I think for the same floor level.
Newbie
How is PSF for 3rm and 4rm?
How does it compare with Viva? If same level I don't go for viewing -))
Newbie
Everything in Trilight starts at $1650 and above. Disappointed with the huge huge planters..... However the 2bedders are pretty ok at 1109sqft.
Viva was definitely cheaper. Not sure about now
Newbie
ops, Tks.Everything in Trilight starts at $1650 and above. Disappointed with the huge huge planters..... However the 2bedders are pretty ok at 1109sqft.
Viva was definitely cheaper. Not sure about now
i didn't make myself clear, I was asking how is the interior finish compared with Viva, and how are facilities?
Newbie
Viva better in both cases
Newbie
Tks! As such, I doubt Trilight, at such price tags, will go as fast as Viva.Viva better in both cases
Senior
anyone got updates of sales figures? i seriously doubt it can even move at any pace close to viva's at all. the quantum is just so huge! 1.8m+ for trilight 2 bedders? i don't even dare to ask about the 3 bedder prices, how far above 3m is the cheapest 3 bedder?
Newbie
if ard 1200psf 4 condos area outside newton. i dun understand why 1.8m is expensive then.
Senior
its the quantum for the 3 bedders, not the psf that i find expensive.
Newbie
The units are just too large by today's standard. if only they could make the 2 b/r of ard 900sf & 3 b/r of 1300sf , then this project should sell like hotcakes at $1650psf.
Senior
1200psf for 764sq ft 2 bedder at centro is "only" 920k while a similar category 2 bedder at trilight is at least 1109sq ft and costs at least twice as much. we should not be comparing like this at all but what i mean is the higher psf is combined with higher sq ft (made up mostly by a big balcony, bay windows and air con ledges) that makes it expensive but defenitely 3 bedders at above 3m are the ones that are harder to stomach.
Senior
"The $1,650 psf average price will be for an initial batch of 60 units. The condo will have a total 205 units, up from 152 planned initially. The increase results from Ho Bee’s decision to introduce two-bedroom units and reduce the number of four-bedders. Previously Trilight had only three- and four-bedroom apartments."
the planning was done in the boom years of prime in 2007. looks like they kept the size of the 3 bedders and sliced two 4 bedroom stacks into 2 bedders. that led to the imbalance. i thought it would be better for them to slice the 3 bedders. 4 bedders at 2336sq ft are ok, its the 3 bedders which are too big.
your specs below are those of viva's winning formula.
Junior
. just proved every one has diff taste. to me Trilight *showroom* finishes are definitely above Newton One. And it's as good as viva. Some areas better than Viva. I prefer Viva's wardrobe, but trilight's bath/kitchen. And trilight's flooring/wall finishes in general. Viva's 4bd dry kitchen layout/position is not very logical, too near the living dining. Trilight's huge balcony is part of the look and design of the unit. It's something that I'd love to stay in if I have the $4m.
I think by the size of trilight, Ho Bee is trying to market this as something else. Those buying this project are not so calculative as "wasted balcony space" etc. I think it's trying to hit the luxury segment.
Senior
its defnitely targeted at the luxury segment. hit or not is another thing.
. just proved every one has diff taste. to me Trilight *showroom* finishes are definitely above Newton One. And it's as good as viva. Some areas better than Viva. I prefer Viva's wardrobe, but trilight's bath/kitchen. And trilight's flooring/wall finishes in general. Viva's 4bd dry kitchen layout/position is not very logical, too near the living dining. Trilight's huge balcony is part of the look and design of the unit. It's something that I'd love to stay in if I have the $4m.
I think by the size of trilight, Ho Bee is trying to market this as something else. Those buying this project are not so calculative as "wasted balcony space" etc. I think it's trying to hit the luxury segment.
Newbie
u r comparing based on budget.
nt mkt practice. centro/bishan better buy 4 u.
Senior
i am telling you we can't compare like that. But I admit 3m+ for 3 bedder is out of budget for me. I'd rather get a 4 bedder elsewhere within prime.
you are obviously an amateur property buyer. going by market practice of solely focusing on psf. LOL. If you talk to the seasoned players, you will know that it is not their main consideration.
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