The Shore Residences (D15, 103 years leasehold, Far East Organization)

[Property_Owner]

is the location is really good ... 30-40 yrs down the road ..developer can still apply URA and have the plot ratio increase from 2.8 to 3.8 ??

it is highly possible ...

anyway all these condos are so new .. i wont buy IF purely speculating on en bloc, rather put money on old old projects

How to increase to 3.8. One main concern is East coast area have height restriction.

[xebay11]

How to increase to 3.8. One main concern is East coast area have height restriction.

Yes due to proximity to airport.

[teddybear]

Unlikely because near seaside in South nowsdays gonna earth quake tremors from indonesia. The higher you live, the worse it will be. Heard Marine Parade quite badly inflicted by the tremors. Did anybody experience that?

is the location is really good ... 30-40 yrs down the road ..developer can still apply URA and have the plot ratio increase from 2.8 to 3.8 ??

it is highly possible ...

anyway all these condos are so new .. i wont buy IF purely speculating on en bloc, rather put money on old old projects

[Reporter]

The Shore Residences comes to Amber Road
H88
Wednesday, 9 December 2009, 15:50



Lovers of Katong rejoice, The Shore Residences at Amber Road is ready to launch. The 99-year leasehold condo developed by Far East Organisation is right opposite Katong Shopping Centre and just a short walk away from Parkway Parade.


Location

Note: Map overlay is approximate

Lease: ...... 99-year
Site Area: . ~191,037 sqft
Developer: Far East Organisation
Estimated TOP: 2015
Blocks: 6
Floors: 20 storeys
Units: . 408 total, Studio (84), 2BR (208), 3BR (88), 4BR (24), Penthouse (4)
Typical Sizes:
............ Studio (592 - 732 sqft)
............ 2BR (872 – 1,055 sqft)
............ 3BR (1,141 - 1,507 sqft)
............ 4BR (1,378 – 1,432 sqft)
............ Penthouse (2,766 sqft)


Sitemap



Facilities

• Lagoon Pools
• 50m Lap Pool
• Cliff Villa
• Spa Pools
• Sunbathing Decks
• BBQ Cabanas
• Tennis Courts
• Gymnasium
• Sauna

.
Floorplan (Tower A1, 9th Storey)

Note: These floorplans are not yet finalized

Word is that 1 and 2 BR units are being offered in a special VVIP preview, prices rumoured to be around $1,100 to $1,150 psf.


Words from the FEO website:
A tropical retreat at your doorstep.

Located in the vibrant Katong vicinity and close to well-known eateries like Katong Laksa, The Shore Residences offers a beachfront lifestyle in tranquility, an oasis away from the city. Comprising 1-4 bedroom units spread over 6 towers, residents will enjoy close proximity to East Coast Park as well as a host of amenities situated in the neighbourhood. The Shore Residences is also a short 10 minutes drive to Marina Bay and CBD.

Occupying a spacious site area of over 191,000 sq ft, The Shore Residences features several lifestyle amenities dotted all over the premises. Offering full condominium facilities, residents get to enjoy BBQ cabanas, spa pool, spa pavilion, children’s playground, 50m lap pool, gym, sauna, the Clift Villa and 2 tennis courts. Of special mention is the lagoon that is made with sand to let residents enjoy the senses of beautiful shores at their door steps. The Shore Residences offers excellent value as prices for 1-bedroom units start from S$658K while 2-bedroom units start from S$1.1 million.*

Thoughtful design has been integrated with the layout of the development as there are no planter boxes nor bay windows, offering residents efficient maximization of space.

Due to good response, level 12 is now open for booking.

[Wild Falcon]

FEO owns the freehold land. The owners are merely "tenants" renting from FEO for 99 years. How can tenants sell the owner's house? In short, even if the buyers of the property want to enbloc, the potential new developers would have to negotiate with FEO for the lease topup and FEO will not agree easily. In short, whoever who buy this have no choice but to go to FEO after 20-30 years to enbloc with no bargaining chip. FEO will NOT lose the right to the land unless FEO agree to sell. Remember, FEO, a private developer is merely leasing the land to the "tenants".

Am I right to said that FEO will lose its rights to the land upon an en bloc sale. For example, if after 30 yrs, owners of the shore wants to en bloc, FEO can't do anything? If thats the case, it does not make sense for FEO to sell as leasehold....

[Wild Falcon]

Agree. unlikely plot ratio will go any higher at East Coast because of the weak sand bed that is reported to sink few cm per year. With technonic plates moving and earthquake happening every few weeks, I don't think the govt will take the risk in building super high buildings here. Marine Parade is usually one of the worst-hit areas that appears in the news every time there is a quake in a neighbouring country.

Unlikely because near seaside in South nowsdays gonna earth quake tremors from indonesia. The higher you live, the worse it will be. Heard Marine Parade quite badly inflicted by the tremors. Did anybody experience that?

[nochoice]

latest news from property guru FEO ad : all studio units fully booked!

[condoinvestor]

Hi Reporter, in the sitemap, what is the grey area in the driveway

[condoinvestor]

latest news from property guru FEO ad : all studio units fully booked!

Why am I not surprised, mickey mouse mania......

[nochoice]

Hi Reporter, in the sitemap, what is the grey area in the driveway

Its a 5 storey muti-storey carpark! The carpark and the road took away 30-40% of the whole condo site.

[zeq]

My friend told me to avoid FEO condos. They are overpriced and their quality is.....hahaa............
Now they selling 99 yr on a freehold condo.
OMG.

[gfoo]

dun mean to be vulgar but truly like never before, these buyers are

fuhkwits

[condoinvestor]

Its a 5 storey muti-storey carpark! The carpark and the road took away 30-40% of the whole condo site.

L SHAPE MULTI STOREY CAR PARK!! Seems weird......

[condoinvestor]

dun mean to be vulgar but truly like never before, these buyers are

fuhkwits

I think you are being too polite.....

[nochoice]

dun mean to be vulgar but truly like never before, these buyers are

fuhkwits

These are 1st buyers still ok, imagine if they want to flip... those subsale buyer that buy from them...

[proud owner]

FEO owns the freehold land. The owners are merely "tenants" renting from FEO for 99 years. How can tenants sell the owner's house? In short, even if the buyers of the property want to enbloc, the potential new developers would have to negotiate with FEO for the lease topup and FEO will not agree easily. In short, whoever who buy this have no choice but to go to FEO after 20-30 years to enbloc with no bargaining chip. FEO will NOT lose the right to the land unless FEO agree to sell. Remember, FEO, a private developer is merely leasing the land to the "tenants".

well FEO is smart ..

30-40 yrs down the road ... say CDL wants to enbloc the place.. FEO's grandchildren just say ok TOP UP FEE 100 mio .. and the enbloc goes thru ..

their whole family/ generation will continue to 'earn' for doing nothing ...

[Property_Owner]

MSCP again?

At least this time agent will say your cars will be safe from flood

[DKSG]

I feel compelled to share my views on the LH/FH issue.

There are a lot of people who seems interested in events 40 years down the road when maybe a big part of us are gone.

The price difference between a FH and LH is about 15-16% theoritically and realistically.

When property prices move UP, this gap is narrowed. When property prices move DOWN, this gap is widened.

Imagine if I promise to pay you $100 in 50 years time and ask u for $20 now ? Would u entertain me ? The value attached to cash flows that is past 50 years from now is literally worth very little. And if you extend the same calculation, cashflows 100 years later is worth near nothing at the present value.

So buyers, dont be misled by some of the posts. If you see a FH selling for $1.2 million and a LH selling for $1,000,000 ... both same size same location. Go for the LH, its underpriced.

Dont overpay for FH.

PS : I do own LH and FH properties and I dont treat them too differently when it comes to buying or selling. If you use the concepts put forth by some people here, then u cannot sell FH properties lo ... because when u buy them now at $1 million, they are worth about $1 billion because they give you cashflows FOREVER and EVER.

Just my 2 cents worth of comments.

DKSG

[xebay11]

DKSG do you have kids? For me leaving a FH property to my kids or future generations is priceless, I would gladly pay the 15-16% premium, as that premium is nothing in the next 40 to 50 years time.

[Reporter]

I feel compelled to share my views on the LH/FH issue.

There are a lot of people who seems interested in events 40 years down the road when maybe a big part of us are gone.

The price difference between a FH and LH is about 15-16% theoritically and realistically.

When property prices move UP, this gap is narrowed. When property prices move DOWN, this gap is widened.

Imagine if I promise to pay you $100 in 50 years time and ask u for $20 now ? Would u entertain me ? The value attached to cash flows that is past 50 years from now is literally worth very little. And if you extend the same calculation, cashflows 100 years later is worth near nothing at the present value.

So buyers, dont be misled by some of the posts. If you see a FH selling for $1.2 million and a LH selling for $1,000,000 ... both same size same location. Go for the LH, its underpriced.

Dont overpay for FH.

PS : I do own LH and FH properties and I dont treat them too differently when it comes to buying or selling. If you use the concepts put forth by some people here, then u cannot sell FH properties lo ... because when u buy them now at $1 million, they are worth about $1 billion because they give you cashflows FOREVER and EVER.

Just my 2 cents worth of comments.

DKSG

You are being rational and analytical.

However, when freehold is concerned, many tie their emotion to it. It is the feeling. Owning FH property forever is more important than return on investment/capital.

I love FH properties too. However, one should not rule out that some LH properties can have a higher ROI. It really depends on the individual property pricing.

[xebay11]

You are being rational and analytical.

However, when freehold is concerned, many tie their emotion to it. It is the feeling. Owning FH property forever is more important than return on investment/capital.

I love FH properties too. However, one should not rule out that some LH properties can have a higher ROI. It really depends on the individual property pricing.

Analysing LH properties for ROI is simply an investment POV. I am sometimes willing to forgo the short term ROI and look at the long road. I would only consider LH if it has potential for very short term gain ie. flipping.

[Reporter]

DKSG do you have kids? For me leaving a FH property to my kids or future generations is priceless, I would gladly pay the 15-16% premium, as that premium is nothing in the next 40 to 50 years time.

I am preparing to leave 2 FH properties for my 2 kids too.

However, I know very well that by doing so, I may or may not have the best ROI. (It really depends on the FH's premium over LH.) Perhaps there is a better way of passing wealth to them? (I am not sure.)

Maybe that 2 FH properties will never reach them due to enbloc?
Maybe they could have more wealth with a LH resale/enbloc?

That's why I don't argue on FH vs LH.
For investment, it's all about ROI.
For personal preference/emotion, what's there to argue?

[proud owner]

I am preparing to leave 2 FH properties for my 2 kids too.

However, I know very well that by doing so, I may or may not have the best ROI. (It really depends on the FH's premium over LH.) Perhaps there is a better way of passing wealth to them? (I am not sure.)

Maybe that 2 FH properties will never reach them due to enbloc?
Maybe they could have more wealth with a LH resale/enbloc?

That's why I don't argue on FH vs LH.
For investment, it's all about ROI.
For personal preference/emotion, what's there to argue?

for best return .. maybe a LH in a prime location

for best value and future value .. FH LANDED

thats my take

[gfoo]

i'm not as smart as dksg and the rest here - LH fr govt makes sense esp when they have a vested interest in urban renewal - areas that define the city skyline, close to national megabuck initiatives, right on top of tpt hubs etc - such areas perpertuate if not encourage urban renewal.

LH for suburban areas havr less impetous for govt encouraged estate renewal, they will just leave it to the free market as long as buildings stay structurally safe.

LH from private FH like the Shore lagi worse,

[bargain hunter]

sums up what i wanted to say to DKSG. we are not against leasehold here from investment/ROI point of view.

Its only this particular project, leasehold sitting on freehold developer owned land and priced like a freehold project. 1.15m (1300psf) for 2 bedder. There's no discount to FH next door at all!

i'm not as smart as dksg and the rest here - LH fr govt makes sense esp when they have a vested interest in urban renewal - areas that define the city skyline, close to national megabuck initiatives, right on top of tpt hubs etc - such areas perpertuate if not encourage urban renewal.

LH for suburban areas havr less impetous for govt encouraged estate renewal, they will just leave it to the free market as long as buildings stay structurally safe.

LH from private FH like the Shore lagi worse,

[gfoo]

sums up what i wanted to say to DKSG. we are not against leasehold here from investment/ROI point of view.

Its only this particular project, leasehold sitting on freehold developer owned land and priced like a freehold project. 1.15m (1300psf) for 2 bedder. There's no discount to FH next door at all!

yup. at least LH from govt 99 years later they wanna take land back they have a social contract to ensure those staying in that land have a backdoor out - affected citizens can do a lot of nonsense things like referendums, votes, sit-ins, call in UN lah and press etc - make it political.

if after 103yrs FEO wants to take back land and ask you to fly kite? Nothing you can do. Maybe out of the kindness of their hearts they will give you additional 5% discount in the new development.

pple please dun be stupid - buying LH from govt means you are putting your family/descendants under temporary shelter subject to the auspices of the govt, which at the end of the day represent the people/society.

buying LH from FEO means you are putting your family/descendants under temporary shelter subject to the auspices of the descendants of Ng Teng Fong and Company, which represent no one other than themselves, have a reputation of you know what, and are totally motivated only by profit.

but if you've already put in a cheque and bought a unit after all this talk in this thread to advise otherwise, then yes - you are truly a fuhkwit

[nochoice]

MSCP again?

At least this time agent will say your cars will be safe from flood

For a LH development that is selling $1.1k-$1.4Kpsf unit, you still have to walk a distance to your block after parking your car.... . Is MSCP easier and cheaper to build than underground CP? Maybe they have a budget to meet.

[Reporter]

yup. at least LH from govt 99 years later they wanna take land back they have a social contract to ensure those staying in that land have a backdoor out - affected citizens can do a lot of nonsense things like referendums, votes, sit-ins, call in UN lah and press etc - make it political.

if after 103yrs FEO wants to take back land and ask you to fly kite? Nothing you can do. Maybe out of the kindness of their hearts they will give you additional 5% discount in the new development.

pple please dun be stupid - buying LH from govt means you are putting your family/descendants under temporary shelter subject to the auspices of the govt, which at the end of the day represent the people/society.

buying LH from FEO means you are putting your family/descendants under temporary shelter subject to the auspices of the descendants of Ng Teng Fong and Company, which represent no one other than themselves, have a reputation of you know what, and are totally motivated only by profit.

but if you've already put in a cheque and bought a unit after all this talk in this thread to advise otherwise, then yes - you are truly a fuhkwit

I agree with your argument. Nevertheless, people buys for different objectives. They may have done their sums. Perhaps we should not judge their decisions too "narrowly"?

Personally, I think it is not nice for FEO to sell such a product if their "top-up premium" is not tie to the government's "top-up" formula.

[gfoo]

I agree with your argument. Nevertheless, people buys for different objectives. They may have done their sums. Perhaps we should not judge their decisions too "narrowly"?

Personally, I think it is not nice for FEO to sell such a product if their "top-up premium" is not tie to the government's "top-up" formula.

if you've been to a feo showflat lately, the sleight of hand they pull make it hard for rational buyers to see the obvious.

the govt's top-up formula is tied to public sentiment, preceding transactions, and impetus to renew a particular area - e.g spottiswoode and cbd in 2003 onwards were 'encouraged' with low topups.

a pte developer is not tied to any formula, and can make any number of justifications for topup. they cannot be swayed by public vote, and the govt will let them run their course otherwise it will set a precedent - besides this is in the residential suburbs so wby would the govt interfere?

[Regulators]

For leasehold commercial properties, the govt can and usually top up the lease for owners but the premium that one pays to top up the lease may not be as worthwhile as buying a freehold commercial property, but again depending on the business location. As for residential property, I hardly hear the government topping up leases unless the developer is taking over the land to develop a new project. Imagine you are 30 now and get a leasehold property for 2 generations to live, what would be the value of your property when you are 60 (30 years on) and want to pass on the property to your children? Some people talk about en bloc, but what if no developer is keen to enbloc the project as the land size etc is not favourable?