Versilia on Haig - Ipoh Lane

[BIC]

Dear Owners,

Was at the vicinity of Versilia earlier.

The showflat is no longer there and I guess the area will be replaced by the main-entrance to the project.

Ritz Regency nearby is almost completed and the construction of the 10-storey condo next to Versilia is taking shape.

Cheers.

[alxyan]

Any one knows when the HDB upgrading will be completed?

[Bignose88]

Bic, if you dont mind, you can take some pics to share too.

[BIC]

Bic, if you dont mind, you can take some pics to share too.

Will remember to bring my camera the next time I'm there......

Nothing much to capture though at this moment.

Cheers.

[centrico]

where is everybody?
why so quiet.
Drove pass imperial heights and it looks like the project is completing soon
Versilia is still all covered

[BIC]

where is everybody?
why so quiet.
Drove pass imperial heights and it looks like the project is completing soon
Versilia is still all covered

Guess everyone has been busy of late.....

One good news is that the roads along Paya Lebar MRT has been straightened which makes the drive after exiting PIE much better.

Does anyone knows what would be the exterior colour of the buidling?

Cheers.

[BIC]

Dear Owners,

For those who wants to know more about the future development of Paya Lebar Central area, you may want to pay URA Building at Maxwell Road a visit.

There is a mock-up and a detail plan of the developement. There are also master plans of the other areas in Singapore. For those into property investment, it is a must-see.

Cheers.

[centrico]

Thanks BIC for the info.
The exterior color of imperial heights is awful.
Hope versilia exterior colour have some class

[alxyan]

Now that F1 is over, all eyes back to the property market?

I have seen the detailed maps at URA Centre before, drawing a st line point to point, Paya Lebar MRT is abt 600m away from Versilia.

I wonder most buyers at Versilia buy for their own stay or for renting out. Will be interesting to know if this place will attract the expats.

[condobuyer101]

while the distance to paya lebar mrt is only 600m, the walk is not really a nice one.

if it's hot or rainy,walking is not a good idea. but the good thing is the bus stop at tg katong road have buses going there. And the bus stop is just 100m walk out from butterworth lane to tg katong road. still bearable. or can take taxi since it's not that far.

the area may 'boomz' if a lot of foreigners working at marina IR make the east their choice of residence. it's cheaper than esta/seaview area and nearer than the upper east coast/marine parade area.

Now that F1 is over, all eyes back to the property market?

I have seen the detailed maps at URA Centre before, drawing a st line point to point, Paya Lebar MRT is abt 600m away from Versilia.

I wonder most buyers at Versilia buy for their own stay or for renting out. Will be interesting to know if this place will attract the expats.

[Chan F M]

An agent contacted me to ask if I wanted to buy Suites@Guillemard. Soft launch is very soon. 72 units. Near Paya Lebar MRT. She estimates that the studios is about $1,300 to $1,400 psf. Final pricing not confirmed. Units are extremely small. If true, it could set a new benchmark for this area. Anybody heard anything about this?

[Reporter]

An agent contacted me to ask if I wanted to buy Suites@Guillemard. Soft launch is very soon. 72 units. Near Paya Lebar MRT. She estimates that the studios is about $1,300 to $1,400 psf. Final pricing not confirmed. Units are extremely small. If true, it could set a new benchmark for this area. Anybody heard anything about this?

http://forums.condosingapore.com/showthread.php?t=8312

[mezo]

while the distance to paya lebar mrt is only 600m, the walk is not really a nice one.

if it's hot or rainy,walking is not a good idea. but the good thing is the bus stop at tg katong road have buses going there. And the bus stop is just 100m walk out from butterworth lane to tg katong road. still bearable. or can take taxi since it's not that far.

the area may 'boomz' if a lot of foreigners working at marina IR make the east their choice of residence. it's cheaper than esta/seaview area and nearer than the upper east coast/marine parade area.

Agree that the walk is not ideal....No shelter and need to cross main road to get to Paya Lebar MRT. Bus is preferred.

Buying for homestay but if property market does pickup, will sell....

[alxyan]

Agree that the walk is not ideal....No shelter and need to cross main road to get to Paya Lebar MRT. Bus is preferred.

Buying for homestay but if property market does pickup, will sell....

If market picks up, sell high, buy high also. You will end up with a smaller place for the same price same location, ceteris paribus. Unless you are prepared to downgrade and pocket the change for retirement (?)

[BIC]

What do you think would be the estimated psf for Versilia now?

My friend who is staying on a high floor in Jade Towers along Dunman along was able to see the paint-work of Versilia and the type of window fittings. From the ground, its still all meshed-up so are are still not able to see.

If this is true, looks like 1Q10 TOP is a real possibility.

[Chan F M]

What do you think would be the estimated psf for Versilia now?

We can only compare with Imperial Heights data.

We know that a 452 sq ft Imp Hts studio was done at $1150 psf recently.

A few days ago, a friend had an offer for his 2 bedroom 581 sq ft Imp Hts unit at $1,070 psf. He turned that down.

We can only guess the market value of Versilia from that.

[BIC]

We can only compare with Imperial Heights data.

We know that a 452 sq ft Imp Hts studio was done at $1150 psf recently.

A few days ago, a friend had an offer for his 2 bedroom 581 sq ft Imp Hts unit at $1,070 psf. He turned that down.

We can only guess the market value of Versilia from that.

In that case, what would be a good price that will make owners of Versilia wanting to sell their unit? 1,200psf, 1,300psf or above etc

[mezo]

If market picks up, sell high, buy high also. You will end up with a smaller place for the same price same location, ceteris paribus. Unless you are prepared to downgrade and pocket the change for retirement (?)

Well, personally for me, I dont mind continue to stay in HDB. My current HDB is fully paid up.
I bought Versilia as my primary consideration is to be near my child's school.

If i do sell Versilia at a good profit, i can use it to buy a nearby HDB for "free"

[Chan F M]

In that case, what would be a good price that will make owners of Versilia wanting to sell their unit? 1,200psf, 1,300psf or above etc

Most of us bought Versilia at about $900 psf? I can't recall and don't have my record with me. If so, $1,200 to $1,300 psf would be very decent. But I don't think the market will pay that sort of price yet. Whether the IRs next year will push it up to thiese sort of prices is anyone's guess.

[alxyan]

Most of us bought Versilia at about $900 psf? I can't recall and don't have my record with me. If so, $1,200 to $1,300 psf would be very decent. But I don't think the market will pay that sort of price yet. Whether the IRs next year will push it up to thiese sort of prices is anyone's guess.

1/3 paid 1100 to 1200 or higher, the other 2/3 paid less.

I belong to the former 1/3 and definitely wont sell for just 1200 to 1300.

Sea View was launched at 700plus (I recall) and what's the price now. Similarly Belvedere was launched at 800plus (if my memory doesnt fail me) and what's the price now. During those times, people considered Sea View and Belvedere expensive and the projects took a while to sell out.

In a grand scheme of things, prices will move up over time sans market crashes. People are talking abt Marina IR - which benefit all condos in the area. But it's Paya Lebar Central development which will push the prices even higher for this area. It's difficult to visualise what Paya Lebar Central will be like in future. If only every one is that visionary, then we would have bought scores of Sea View and Belvedere during their launches and now sitting on a pile of cash.

[Chan F M]

1/3 paid 1100 to 1200 or higher, the other 2/3 paid less.

I belong to the former 1/3 and definitely wont sell for just 1200 to 1300.

Really? I don't remember paying that much. Must check. I could be confused it with the unit of Imp Hts that I bought.

[alxyan]

Really? I don't remember paying that much. Must check. I could be confused it with the unit of Imp Hts that I bought.

Too many investments on your side, tat's why it's confusing.

You can just tell me when you bot Versilia, I can tell you the price range you bot.

[Chan F M]

Too many investments on your side, tat's why it's confusing.

You can just tell me when you bot Versilia, I can tell you the price range you bot.

Maybe I just want to remember the good stuff...

[BIC]

Hi Chan F M,

Here is the list of owners in the thread (hope I have not left out any).

1. BIC (stack 05)
2. Mezo (stack 03)
3. alxyan (stack 03)
4. centrico
5. Winstan (stack 06)

Which stack did you buy?

Cheers.

[BIC]

Hi,

Just checked with the developer again on the TOP.

It will still be 2Q 2010.

I would have hoped that it would be earlier, especially now that Ritz Regency and Imperial Heights have TOPed or going to TOP.

The buidling is still meshed up as of last weekend.

Cheers.

[mezo]

Fellow owners,
how many of you are on the IAS with OCBC? I am.

I understand that we have another opportunity (FOC) to change the loan package within 3 months of TOP. What will you guys take up at that time? SIBOR-pegged or fixed rate? I read from some article that it is a very good time to take up a fixed loan package as the interest rates are low to lock in this low rates for the next couple of years.

What do you think?

[centrico]

Were we given a choice either IAS or progressive payment when we purchased the property?
I dont remember given the options.

[BIC]

Fellow owners,
how many of you are on the IAS with OCBC? I am.

I understand that we have another opportunity (FOC) to change the loan package within 3 months of TOP. What will you guys take up at that time? SIBOR-pegged or fixed rate? I read from some article that it is a very good time to take up a fixed loan package as the interest rates are low to lock in this low rates for the next couple of years.

What do you think?

Hi,

I decided to make progressive payment as there is a lock-in period of 12-mth before you can have the FOC change of the loan package.

You may be right to lock-in at a low interest rates now.

Cheers.

[BIC]

Hi,

Was at the site over the weekend. The buidling is still meshed-up.

It seems the progress of this development is rather slow. The 10-storey condo next to Versilia, ie Worthington, is almost completed as well.

I hoped that its a case of slow and steady for the better.

Guess what is the colour of Worthington, also yellow. The whole stretch of condos along Ipoh Lane and Butterworth Lane are all yellow. Think most likely Versilia will be that colour too!!!

If you do a search of Versilia on www.streetdirectory.com, the TOP date is Sept 2010.

Regards.

[Jazzer]

Fellow owners,
how many of you are on the IAS with OCBC? I am.

I understand that we have another opportunity (FOC) to change the loan package within 3 months of TOP. What will you guys take up at that time? SIBOR-pegged or fixed rate? I read from some article that it is a very good time to take up a fixed loan package as the interest rates are low to lock in this low rates for the next couple of years.

What do you think?

Hi mezo, I bought another project and was also on IAS with OCBC. Mine just TOP recently and i was indeed given an option to convert from fixed rate to either the Variable Rate Package or the SOR pegged Package. Contrary to what you read, I fine the fixed rate currently too high as compared to the Variable or SOR pegged.