Sheeze.. that 19-09 was the unit i wanted .. but i refused to pay that 1,418 price.. Oh wel.. time to move on to another unitOriginally Posted by East Coast Boy
Unit #19-09 sold at $1,418 psf. Highest still unit #17-07 sold at $1,494psf....
Junior
Sheeze.. that 19-09 was the unit i wanted .. but i refused to pay that 1,418 price.. Oh wel.. time to move on to another unitUnit #19-09 sold at $1,418 psf. Highest still unit #17-07 sold at $1,494psf....
F01 N54 Sheer Driving Pleasure
Suburban home prices soar
Some mid-tier projects have topped previous peaks, figures based on URA data show
Fiona Chan
The Straits Times
Friday, 9 October 2009
Citylights, a new condominium which incorporates conservation shophouses in its layout, is almost complete. In the left background are HDB flats along Jellicoe Road. -- Photo: ST
House hunters: If it feels like that suburban condominium you are eyeing is just as expensive now as it was during the 2007-2008 property boom, that is because it probably is.
Although overall private home prices are still some 15% below recent peaks, prices of mass market homes have already climbed back to the levels of early last year, right before the recession hit.
According to the Urban Redevelopment Authority’s (URA’s) latest estimate, released last week, prices of suburban private homes are just 3% shy of their peak levels in the second quarter of last year.
Some individual projects – such as Seletaris in Yio Chu Kang and Casa Merah in Tanah Merah – have already surpassed these levels, going by calculations done by The Straits Times using data from URA’s Realis database.
For mid-tier properties, URA’s data indicated prices remain about 15% off peaks last year.
But some condos in this category are also bucking the trend, with higher prices in the third quarter this year than in the property boom just past.
In the Jalan Besar area, for instance, three condominiums – Citylights, Southbank, and City Square Residences – are now commanding higher average psf than they did at the height of the boom, according to The Straits Times’ calculations.
The calculations compared these condos’ average price psf in the third quarter this year with the second quarter of last year. All the projects had several sales in the most recent quarter, but some had as few as two in the second quarter of last year as sentiment tapered off ahead of the recession.
Similarly, in the East Coast area, projects such as The Esta and The Sea View have already breached their peak average psf prices. This pattern has also cropped up in selected condos from Clementiwoods in Clementi to The Regency @ Tiong Bahru.
While launches of suburban condos have seen a massive surge in demand in recent months, resales of existing homes have so far stayed out of the limelight. But they have also been appreciating in value as sentiment in the real estate market goes from strength to strength, said property consultants.
'For mass-market leasehold projects outside the prime areas, just based on resale prices, we have almost gone back to the 2007-2008 levels,' said Ms Chua Chor Hoon, head of South-east Asia research at DTZ Debenham Tie Leung.
According to her research, the average price of a leasehold non-landed resale home rose to $610 psf in the third quarter of this year, a mere $5 psf less than the most recent peak of $615 psf.
With private home prices still on an uptrend, having jumped a 20-year record of 16% in the third quarter this year, it seems just a matter of time before suburban condo prices hit new highs.
But consultants say this may not necessarily happen, at least not by the end of this year.
For one thing, the Government’s measures to cool the property market, announced last month, could have a dampening effect on home sales and moderate price increases.
This is unlikely to hit actual demand for homes, but the announcement’s psychological impact could cause a knee-jerk reaction and help prevent private home prices from escalating at an unsustainable pace, said Ms Tay Huey Ying, director of research and advisory at property firm Colliers International.
'As it is, the stand-offs between buyers and sellers in the secondary market are showing signs of a return,' she said. Buyers are also starting to complain about the higher prices of mass market homes.
'We have seen a slight slowdown in sales generally in the market, partly because of the prices, and partly because of the Government’s announcements,' she said, adding that prices have yet to suffer.
'I think some people are refusing to pay high prices, but sellers are not lowering their asking prices, so we are seeing the number of inquiries and also transactions come down a bit.'
Junior
what a waste that u did not pick it up. Anyway, Silver Seas is now piling.....
Newbie
anyone can advice on the maintenance cost for a 3 room and 4 room unit at the Seaview? Heard that the maintenance cost is very high for this project...
Newbie
I heard it is 500-600 region.
Junior
For the 1645 is around $500pm
but the estate is building up saving fast, as compare to the time under the charge of Wheelock
it is very good
Junior
With 564 units/sub-proprietors no reason why mthly maintenance cannot come down ~
F01 N54 Sheer Driving Pleasure
Marine Parade condo prďcës head nörth
The Edge
Monday, 18 January 2010
The Sea View
Private previews of The Shore Residences (the former Rose Garden enbloc site) by Far East Organization in December followed by an official launch on Jan 1 drew crowds to the showflat on weekends. The new 408-unit development opposite Katong Shopping Centre has seen close to 200 units sold at an average price of $1,175 psf as at last week.
What’s more, the project has also spurred renewed interest in the Marine Parade-Amber Road neighbourhood in East Coast, according to the URA Realis database of caveats lodged from Dec 18 to Dec 23.
The development that has seen close to half a dozen units change hands at prices ranging from $920 to $1,000 psf in December was the 612-unit Cote D’Azur, a 99-year leasehold condominium completed in 2004 by Fraser Centrepoint Homes. The highest transacted price at Cote D’Azur last month was for an 840 sqft, 4th-floor apartment, which was sold for $840,000 ($1,000 psf), according to a Dec 1 caveat. The seller had bought the apartment only eight months earlier for $690,000, or $822 psf, hence seeing a 22% capital appreciation in that short period. It shows just how dramatic the turnaround in the market was last year.
2 1,141 sqft apartments — one on the 18th floor of Block 68 and the other on the 7th floor of Block 66 — were sold for $1.088 million ($954 psf) and $1.05 million ($920 psf), respectively in December. The owner of the 18th-floor unit had purchased it for $687,300 ($602 psf) in July 2002 when the project was first launched. Thus, the seller saw a 58.5% capital gain after 7 years. Likewise, the owner of a 7th-floor unit had also purhased it from the developer for $662,070, or $580 psf, thus seeing a 58.6% gain over the same period.
2 4th-floor apartments in Block 66 were sold in late December, according to caveats lodged on Dec 21 and 22. One was a 904 sqft unit that was sold for $836,000 ($925 psf), while the other was a 1,539 unit that went for $1.52 million ($987 psf). The owner of the 904 sq ft unit had purchased it from the developer in August 2004 for $472,000, or $522 psf. At that time, the property market was at the bottom of the cycle, thus the owner saw a 77% gain from the sale after 5 years.
The owner of the 1,539 sq ft apartment had purchased the unit in July 2002, when the project was launched, for $854,340, or $555 psf. He enjoyed a 78% price appreciation after seven years.
Across the road from Cote D’Azur is the 546-unit freehold condo The Sea View by Wheelock Properties, which was completed in 2008. In December, 2 apartments at the high-end project were sold at prices in the $1,400 psf range.
A 6th-floor apartment of 1,410 sqft at Block 37 of The Sea View was sold for $2 million ($1,418 psf). The last time the property changed hands was in a sub-sale in July 2006, when it was sold for $1.18 million ($838 psf). The first owner had purchased the unit for $1.08 million ($769 psf) when the project was first launched in July 2005.
A 19th-floor, 1,216 sqft apartment at Block 31 of The Sea View was sold for $1.726 million ($1,420 psf) in December. The owner had purchased the property in a sub-sale in April 2008 for $1.568 million ($1,290 psf).
Also in the neighbourhood is One Amber, a 562-unit development by joint developers UIC, Singapore Land and UOL Group. The project is expected to receive its temporary occupation permit in 1Q2010. The most recent transaction was that of a 15th-floor apartment in one of the 4 23-storey blocks. The unit was sold for $1.47 million ($1,120 psf). The owner had purchased the 1,313 sqft apartment for $1.01 million ($769 psf) in December 2006, hence enjoying a 46% gain.
From the transaction prices in the secondary market, it is clear that prices in the Marine Parade-Amber Road neighbourhood are heading back to the pëäk levels seen in mid-2007.
F01 N54 Sheer Driving Pleasure
The Sea View has a nëw hďgh of $1,555 psf!
The Sea View
Address ...................... psf ............... Area ........ Price .......... Contract Date
37 Amber Road #09-20 .... $1,555 psf .... 527 sqft .... $820,000 .... 14 May 10
Newbie
Hi reporter. Can kindly post the mar and apr transactions please. Good to know which units. Thank you very much.
Junior
Record price achieved at The Seaview
$1700 psf for a pent house unit
Newbie
I'm interested to know how you got this information before it is published by URA. You can replace our beloved Mr Reporter.Record price achieved at The Seaview
$1700 psf for a pent house unit
Newbie
Just wanna revive this thread. Anyone know what the latest prices of this project are?
Exalted
one guy over here sold his unit for 1590psf
Junior
There one cheap unit avail at the seaview.
1518 sqft 2nd floor . asking $1350 psf. Near main entrance.
Take note, may have a lot of insect at lower floor.
rdgs,
Vic
Junior
I came to know from one of the agent that the buyer is from PRC.Record price achieved at The Seaview
$1700 psf for a pent house unit
The seller maybe at the losing end if the transaction is transacted in RMB.
Do U know what I mean ? But I think this maybe just a rumour.
rdgs,
Victor
Newbie
Saw a unit facing Marine Parade road... which had some noise...
1410sqft asking $1375psft....
like the place, but feel that prices should come down a bit....
agent said all seaview will be gone so premium ones are now pool view?
Newbie
Probably true since Silversea will block most of the seaview The Seaview gets. The thing I dont understand is why The Seaview prices are still lower than Aalto. If you ask me I think Seaview's location is better than Aalto - its nearer to Parkway, bus stops etcSaw a unit facing Marine Parade road... which had some noise...
1410sqft asking $1375psft....
like the place, but feel that prices should come down a bit....
agent said all seaview will be gone so premium ones are now pool view?
Junior
Pool view is in GREAT DEMAND. All investors want to buy. But supply is almost zero unless buyer willing to pay >$1700 psf. Best view at 3rd floor.Saw a unit facing Marine Parade road... which had some noise...
1410sqft asking $1375psft....
like the place, but feel that prices should come down a bit....
agent said all seaview will be gone so premium ones are now pool view?
My neighbour sold "The seaview" unit to a PRC buyer facing Silversea @$1550psf. The PRC just want to have SOUTH FACING. This is very important to them. They dont mind "NO SEA VIEW".
My agent told me that most seller prefer to let ONLY foreigner esp PRC to view their premium block @ premium price. S'porean will not pay such a high price.
Junior
And you are still waiting for the rich PRC to view your 3rd floor unit
Junior
I extracted this last month for a PRC friend
PH is cheap...done at $1220
29 Amber Road #06-02 1,518 $2,289千$1,508 2011年04月28
35 Amber Road #06-14 1,647 $2,800千$1,700 2011年04月26日
31 Amber Road #12-08 1,216 $1,822千$1,498 2011年04月08日
29 Amber Road #21-03 1,518 $2,350千$1,548 2011年03月30日
35 Amber Road #22-15 2,723 $3,322千$1,220 2011年03月28日
31 Amber Road #22-08 2,196 $2,824千$1,286 2011年03月21日
29 Amber Road #09-03 1,518 $2,550千$1,680 2011年03月17日
39 Amber Road #20-23 1,647 $2,525千$1,533 2011年03月11日
39 Amber Road #16-23 1,647 $2,290千$1,390 2011年02月18日
39 Amber Road #19-26 1,647 $2,652千$1,610 2011年02月18日
39 Amber Road #05-23 1,647 $2,141千$1,300 2011年02月07日
29 Amber Road #13-03 1,518 $2,323千$1,530 2011年01月26日
35 Amber Road #08-17 1,647 $2,718千$1,650 2011年01月26日
Junior
how come have chinese characters? what data provider is that?
Newbie
Silversea is not that near, its across the road. More worry about the noise that blocked view. On the Northside, The Shore is much nearer and they have a multi storey car park, which can be noisy for units facing them...
on the east side, the landed houses all en bloc by Far East, so expect new construction coming up..... 3 angle construction in the next few years!! no wonder pool view comes at premium now....
They should rename the condo to The Pool View...
Junior
Those units facing The shore hv a hard time renting out for the past 1 yr.Silversea is not that near, its across the road. More worry about the noise that blocked view. On the Northside, The Shore is much nearer and they have a multi storey car park, which can be noisy for units facing them...
on the east side, the landed houses all en bloc by Far East, so expect new construction coming up..... 3 angle construction in the next few years!! no wonder pool view comes at premium now....
They should rename the condo to The Pool View...
In the next few yrs, when the Paramount hotel start to tear down for reconstruction. Again they will hv a hard time renting out for the next 2yrs. Only those facing pool view is a better choice for investment right now.
But when all the constuction activities surround THE SEAVIEW has completed plus the MRT announcement. The price may rise to $1800 to $2000 psf for premium units.It will be 5-10 yrs time frame.
Junior
Streetsine
the report is meant for my PRC friend, so I gen in Chinese
Newbie
Not only is the front (sea) view being blocked by Silversea, the back is also blocked by another FEO project - The Shore.
That could be the reason why the pool view is in higher demand then high floor units now...
Junior
ya, truly a great place to stay...
Newbie
Whats the most expensive condo in the Amber/Marine parade region at the moment? Can someone rank them
Exalted
aalto lor....LOL
for 99lh, silversea lor...HAHA
Junior
Aalto is considered as Meyer area
Should be Silversea, I think as high as $2400 psf
Cape also >$2,000 psf
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