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Thread: The Interlace (D3, 99 years Leasehold, CapitaLand)

  1. #331
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    Quote Originally Posted by teddybear
    Not sure why anybody would want to buy that Interlace vs condos in other places? Location wise is really not that convenient (no MRT within walkable distance). That place the road in front always jammed very badly during peak hours.
    You may be right.

    Perhaps buyers are skipping D3 The Interlace for other projects such as:
    1. D12 Trevista with high of $1,222 psf,
    2. D20 Centro Residences with high of $1,289 psf, and
    3. D19 yet-to-launch condo with high of $1,100 psf or more (depending on developer's greed?)
    ?

    Quote Originally Posted by CNA

    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.

  2. #332
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    Quote Originally Posted by pathetichindsight
    please note that newspaper reports are very seldom the work of just one reporter. Very often the reports are edited many times by several editors before being published, and the end product can be totally different from what the reporter wrote initially....very often, the eventual report reflects more of what the editor wants especially for a big story...
    I understand your pt. But somehow it is always Fiona Chan's articles that are subjective/ appear subjective n not other reporters. Look at today's ST article on pg A5 "Suburban home prices near highs of 2007-08". The article and the chart shown contradict each other. How can Esta, Southbank, City Sq, Citylights qualify as surburban properties. They are in the RCR region. She is just afraid to put in Charts to show prices in Casa Merah, Infiniti, Botannia, etc. to illustrate OCR properties pxs that have shot up tremendously way past previous peak. In fact the gap bet OCR & RCR ptys have narrowed as reflected in URA pty index. This is just another example of Fiona's selective reporting.

  3. #333
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    judging from today's ads
    agents themselves have bought Interlace and are looking to flip

    after the earthquake one has to be more careful and go for conventional 100pct safety
    BCA says our buildings are safe
    but the world is ever changing
    put 2mln into an asset, want to sleep soundly at nite

    Capland shud have done Interlace with a garden theme instead of this outerspace style

  4. #334
    xebay11 is offline New Launch Project Specialist
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    Put 2 million in asset for 99yr lh property how to sleep soundly knowing that at the end of the lease the property no longer yours or your offsprings.

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    Don talk nonsense! Most expensive condo/apts in spore are 99yrs ok - MBR, Orchard residences... the latest SCGlobal sentosa...etc

  6. #336
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    Quote Originally Posted by mcmlxxvi
    We should all see it coming when AMK goes at 1200psf, and Balestier 1400psf.

    Soon, nothing new will be below 2000psf...
    Now that Toa Payoh, Ang Mo Kio and Serangoon (based on predicted launch price) have crossed $1,200 psf, perhaps we should now focus our attention on EC?

    "Will EC cross $750 psf?"
    I know $637 psf is still far from $750 psf but you never know.

    Quote Originally Posted by The Edge

    Prices of Nuovo EC cross $600psf on 'Centro-effect'
    The Edge
    Monday, 5 October 2009

    There’s been a spurt in sales at Nuovo in Ang Mo Kio recently, after the executive condominium (EC) crossed the five-year minimum-occupation period. Seven units changed hands from Sept 4 to 11, according to caveats lodged with URA Realis. In 2006 and 2008, there was only one transaction each, and two deals in 2007. Owners who sold recently are taking advantage of the “Centro-effect”, caused by the launch of giant property developer Far East Organization’s 329-unit Centro Residences in Ang Mo Kio Avenue 8. Units there have been sold at an average of $1,179 psf from its launch in August to Sept 11, according to figures from URA Realis. Between Sept 4 and 11, an 893 sq ft unit sold for $1.07 million, or $1,199 psf.

    Given that it’s a private condominium, Centro Residences doesn’t have the same restrictions that Nuovo, an EC, has. Under HDB rules, owners of ECs are only allowed to sell their units to Singapore citizens or permanent residents five years after the project receives Temporary Occupation Permit (TOP), which, for the 297-unit Nuovo, was in 2004. It’s only 10 years after TOP that units in ECs can be traded like any other private condominium in the resale market, with sales to foreigners allowed as well.

    However, the owners of Nuovo should be delighted at transaction prices in the range of $477 to $637 psf, as they are the highest achieved since the property was launched at end-2001. Prices at that time were hovering at $400 psf.

    For instance, a 1,119 sq ft unit on the ninth floor went for $710,000, or $634 psf. This is a gain of 52% for the original owner, who had purchased it from developer City Developments Ltd (CDL) for $467,276 in 2002. A larger unit on the 17th floor went for $1.2 million, or $477 psf. The 2,594 sq ft condominium was purchased for $812,746 in 2001.

    Other condominiums along Ang Mo Kio Avenue 9 have also benefited from the Centro effect, with a unit at Far Horizon Gardens, a condominium completed in the 1980s, changing hands in the resale market at $508 psf last month, the highest price psf achieved in the project this year.

    Sellers are also benefiting from the recovery in the residential sector, which saw a marked 15.9% jump in the 3Q residential price index — the largest q-o-q increase seen in the index since 1981, according to URA’s 3Q flash estimate last week. As a result of this big increase, the 3Q price index is now 5.1% below that in 4Q2008 even though it registered a total decline of 18.1% in the first two quarters of 2009. The residential price index is more or less at the levels seen in 2Q2007.

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    Ops! Please check carefully before you made such so sure statements (because what you said is not true - 100% sure!).

    Quote Originally Posted by kal
    Don talk nonsense! Most expensive condo/apts in spore are 99yrs ok - MBR, Orchard residences... the latest SCGlobal sentosa...etc

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    xebay11 is offline New Launch Project Specialist
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    Quote Originally Posted by kal
    Don talk nonsense! Most expensive condo/apts in spore are 99yrs ok - MBR, Orchard residences... the latest SCGlobal sentosa...etc
    Nope. Look around and widen your circle.

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    Quote Originally Posted by Reporter, 5 days ago
    You observed that the tune of this forum has changed.

    I have also noticed that the analysts and the economists are singing a different song now.

    Oh! Fiona Chan is listening to a different track now.

    The big question is "will our government's tune change"? We will find out next Monday.
    OK. This is good.
    Our government have just changed their tune.

    Shall I jam raggae instead of blues now?

    Quote Originally Posted by AFP

    Singapore economy grows 0.8%
    Agence France-Presse
    Singapore
    Monday, 12 October 2009

    Singapore's economy grew by an estimated 0.8% in the three months to September from a year ago, the first such growth in five quarters, the government said Monday.

    While gross domestic product (GDP) will fall in 2009, the government amended its full-year 2009 forecast to a contraction of 2.0 to 2.5%, well below the previous estimate of negative 4.0 to 6.0%.

    "A clear but modest recovery is underway globally, at least for the next three or four quarters," the ministry of trade and industry said in a statement.

    The year-on-year expansion confirmed Singapore's recovery from the worst recession in its history, which began in the second quarter of 2008.

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    how is the interlace sale? anyone with update?? i find that project is really unique. is the investment potential really that bad? any expert can advise? or is it a better choice to put the money in caspian?

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    Interest in this project has dropped or even died. No one cares anymore. heard that the developer has sold only a handful. is that true?

  12. #342
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    Quote Originally Posted by stalingrad
    Interest in this project has dropped or even died. No one cares anymore. heard that the developer has sold only a handful. is that true?
    Too many condos along AYE starting from Botannia to Interlace. Of course demand not there.

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    Just picked up from ura website..Interlace sold 243 units out of the 360 launched in Sep! But of course its total units are 1040...

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    Quote Originally Posted by Number_9z
    Just picked up from ura website..Interlace sold 243 units out of the 360 launched in Sep! But of course its total units are 1040...
    hundred trees total 396, launched 350, sold 327. i personally feel location of Interlace is better than hundred trees where half of the units are facing AYE. but why hundred trees seem to sell better. is Interlace priced higher? or units launched are the worst choices?

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    Too much bad publicity from Gillman Heights enbloc residents saga... lose faith in CapitaLand as a developer one can count upon?

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    Quote Originally Posted by housewife
    hundred trees total 396, launched 350, sold 327. i personally feel location of Interlace is better than hundred trees where half of the units are facing AYE. but why hundred trees seem to sell better. is Interlace priced higher? or units launched are the worst choices?
    beats me. perhaps because hungry trees is freehold while shoelace is leasehold?

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    while psf is slightly more for interlace vs hundred trees, the absolute $ quantum is a lot more. buyers have reached breaking point in terms of quantum.

    807sq ft units are priced at 8xxk to 9xxk and all launched ones are sold out. remaining 2 bedders are more than 1000sq ft and will cost more than 1m. buyers find it hard to stomach buying 2 bedders which are more than 1m in this location.



    Quote Originally Posted by housewife
    hundred trees total 396, launched 350, sold 327. i personally feel location of Interlace is better than hundred trees where half of the units are facing AYE. but why hundred trees seem to sell better. is Interlace priced higher? or units launched are the worst choices?

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    Quote Originally Posted by mcmlxxvi
    Too much bad publicity from Gillman Heights enbloc residents saga... lose faith in CapitaLand as a developer one can count upon?
    That tells you greed can destroy a good company. Liew mun leong is a greedy person; his paycheck is in the millions of dollars in 2008 and 2007 while shareholders suffer. Now, he is selling interlace at inflated prices and treated former residents with comtempt. Capitaland is in a world of trouble with him at the helm.

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    Quote Originally Posted by bargain hunter
    while psf is slightly more for interlace vs hundred trees, the absolute $ quantum is a lot more. buyers have reached breaking point in terms of quantum.

    807sq ft units are priced at 8xxk to 9xxk and all launched ones are sold out. remaining 2 bedders are more than 1000sq ft and will cost more than 1m. buyers find it hard to stomach buying 2 bedders which are more than 1m in this location.
    agreed, unless greedy Liew chopped up interlace into tiny mouse holes and sell mouse holes only, interlace will never be sold out.

    even CDL has trouble selling larger units at hungry trees.

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    Quote Originally Posted by URA
    Private Residential Units Sold in the Month of September 2009

    Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
    The Interlace ..... RCR ........ 243 ......................... 243 ............................ 1,181 ............ 1,047 ............. 723
    Can "two fall trees" (243) fight with Hundred "327" Trees?

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    Any updates to the progress of the sale? Seems very quiet. I have noticed the sales gallery at river valley seems empty these days.

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    Quote Originally Posted by stevenc
    Any updates to the progress of the sale? Seems very quiet. I have noticed the sales gallery at river valley seems empty these days.
    So does CDL's sales office at West Coast Drive for hungry trees. Sales have ground to a half for all condos, or so it seems.

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    Quote Originally Posted by stevenc
    Any updates to the progress of the sale? Seems very quiet. I have noticed the sales gallery at river valley seems empty these days.
    went to the showroom last week....is so quite. still find it a unique project but don have the "feel" by just looking at the model house. according to the agent, the actual showroom will be out probably early next year. the sales for this project is almost die off. will wait for the showroom then decide.....maybe will such lousy sale they might reduce price to get more sale.....

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    Quote Originally Posted by stevenc
    Any updates to the progress of the sale? Seems very quiet. I have noticed the sales gallery at river valley seems empty these days.

    my friend went to the make-shift show room and kena traffic summon for illegal parking... needless to say very dulan lol

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    yeah.. i heard there will be an official launch in feb 10, when the showroom is ready. More units will be released then. Now what is on offer are the leftovers of the pre-launch phase.
    Wonder whether will the price be lower next year?

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    Quote Originally Posted by stevenc
    yeah.. i heard there will be an official launch in feb 10, when the showroom is ready. More units will be released then. Now what is on offer are the leftovers of the pre-launch phase.
    Wonder whether will the price be lower next year?
    hopefully they will reduce the price if the sales is not picking up. are u interested in this project too? wats yr view on this project? i find it unique but the price is too high.....

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    now they removed the stupid tent liao so can park inside the compound already. (there aren't any other cars other than agents' cars anyway LOL). think now your friend very dui.

    Quote Originally Posted by august
    my friend went to the make-shift show room and kena traffic summon for illegal parking... needless to say very dulan lol

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    normally capitaland does not reduce prices, even more so now that prices in general are not going down (yet). but heard that a few people who bought at pre launch returned their units.

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    Quote Originally Posted by ay123
    hopefully they will reduce the price if the sales is not picking up. are u interested in this project too? wats yr view on this project? i find it unique but the price is too high.....
    I am quite interested in the project because of the location i.e city fringe. These days, most condos near the city fringe are situated amongst hdb estates e.g. regency, metropolitan, ascentia sky etc and it may lose its exclusiveness. Interlace is about 1.5km away from the nearest cluster of HDB. Besides, I like it for its vicinity to the southern ridges. Layout-wise, its pretty neat and decently sized without much wastage of planter boxes and large balconies (depend on the floor plan you choose)

    However, I feel the units facing the expressway will be noisy. Price is also expensive at about 1000-1100 psf, but compared to other projects nearby, I think its comparatively lower. Its not FH, but if you are living in it it may not really matter. Also, the nearest MRT will be labrador which is quite a distant, 1.5km?

    I will plan to go down to the showroom when its ready and see the layout and finishing before deciding further.

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    Quote Originally Posted by stevenc
    I am quite interested in the project because of the location i.e city fringe. These days, most condos near the city fringe are situated amongst hdb estates e.g. regency, metropolitan, ascentia sky etc and it may lose its exclusiveness. Interlace is about 1.5km away from the nearest cluster of HDB. Besides, I like it for its vicinity to the southern ridges. Layout-wise, its pretty neat and decently sized without much wastage of planter boxes and large balconies (depend on the floor plan you choose)

    However, I feel the units facing the expressway will be noisy. Price is also expensive at about 1000-1100 psf, but compared to other projects nearby, I think its comparatively lower. Its not FH, but if you are living in it it may not really matter. Also, the nearest MRT will be labrador which is quite a distant, 1.5km?

    I will plan to go down to the showroom when its ready and see the layout and finishing before deciding further.
    Just to chip in, the better facing ones will go at higher price and will be gone fast. It can be a tough job to find a unit that you feel is the "best" as it can be like a maze especially if you just look at the model. Definitely one that needs alot of homework by serious buyers to get what they want.

    Since the TOP is sometime later, capland may opt to sell it slow like keppel on carribean. So price wise, we would not be able to determine if there will be a discount from the current level.

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