went to the showroom, the unit layout is good, rooms are spacious except living/dining room.
Quite expensive at close to 1300psf and above. but still selling fast. heard from agent, sold about 50%.
looks like property market is gaining pace again...
Just my 2 cent worth..
went to the showroom, the unit layout is good, rooms are spacious except living/dining room.
Quite expensive at close to 1300psf and above. but still selling fast. heard from agent, sold about 50%.
looks like property market is gaining pace again...
Newbie
50% of the 1st phase or the entire development?Originally Posted by Douk
heard from agent, sold about 50%.
looks like property market is gaining pace again...
Just my 2 cent worth..
hmm, maybe 50% of 1st phase. from the chart, 3 of 4 towers released. and it seems quite a number of units are crossed out. dint pay much attention on those, only looking at 3 bedders which are on tower B only.50% of the 1st phase or the entire development?
and frankly, many agents working in showroom are not so knowledgeable.
Junior
any idea how much does a 3 bedroom cost?
Newbie
and frankly, many agents working in showroom are not so knowledgeable.[/quote]
Agreed. The greatest joke I heard from the agent at the showroom was "FE intends to buy The Seaview in 10 years' time so as to link Sliver Sea and The Shore."
New Launch Project Specialist
It always starts off as a joke.Agreed. The greatest joke I heard from the agent at the showroom was "FE intends to buy The Seaview in 10 years' time so as to link Sliver Sea and The Shore."
Just my 2 cent worth..
about 1.7mil.
Junior
Thanks.....with budget of 1.2mil. do u think can get a decent size n decent facing?
Junior
up your budget to 1.3m, then go buy a nice freehold terrace at opera estate or upper east coast / eastwood area. another $150k or so will make the place look great.
why even consider paying FH prices for a 99yr from FEO? so that one and one's next generation can jaga the place for ng teng fong's descendants?
sheesh
Just my 2 cent worth..
for the shore, there are also 2 bedroom and 2+1, size are quite good, but i think is above 1.2 mil. (3 bedroom is around 1292 sq ft), so the 2 bedder and 2+1 should be around 1000-1100 sqft (i understand it is about the same layout as 3bedder but remove 1 common room).
The price is quite high for 99LH without much view.. nice project though.
Senior
I was thinking about the same area, but the problem with opera estate is it is a low-lying area which has flooding issues. Must also avoid those lanes too near the MRT track coz the noise is quite bad. I just spoke to an agent the other day for a terrace along Reinzi St in opera estate for 1 mil but as you mention, money has to be spent doing up the place. But the problem with the houses there is that they are more than 40 years old and maintenance may not be cheap. The prices of landed there has gone up crazily (it goes for private properties islandwide). You can still find an old terrace in opera going for between 700k to 800k just months back, but you can hardly smell anything at below 1 mil now. The agent agrees with me that the area is a bit too steep to buy now.
Newbie
Understand the wealthy Indians are very keen buyers of this project. Can anyone confirm?50% of the 1st phase or the entire development?
Newbie
When I was there during the preview, saw some mainland Chinese at a few tables talking to the agents. Wont be surprised if they ended up buying.
Just my 2 cent worth..
Saw a few Indian, but not majority.
Senior
These days the mainland Chinese are the ones with the deep pockets. The world's largest group of high net worth gamblers in casinos are from China and they are the uber rich.
Office Boy
I heard 50% sold also .. but 50% of entire development ...
Meaning, abt 200 units sold ...
Anyone can confirm ?
F01 N54 Sheer Driving Pleasure
Off to a good start for The Shore
Today
Tuesday, 5 January 2010
The new year saw new sales washing up on the shores of Far East Organization as more than 50% of units released in its latest project have been sold. Located at the junction of Amber and East Coast roads, The Shore Residences is a four-tower development with 408 units. Launched on 1 January 2010, a total of 183 of the 338 units released have been sold.
The launch of The Shore Residences comes on the back of a busy 2009 for Far East Organization, which launched 12 property projects last year. The group sold a total of 1,999 units which translates to $2.44 billion in sales for the whole year.
Newbie
Which means 45% of the project is being sold, total number of units of 408. 3 bedrooms (1292 sq ft) low floor was going for 1.42m but was quickly snapped up. They had the 3 bedrooms compact (1141 sq ft) facing Seaview but starts on high floor only.
F01 N54 Sheer Driving Pleasure
The Shore Residences and Urban Suites selling well
H88
Wednesday, 6 January 2010, 12:06
If you are still sitting on the fëncë about getting a 1-bedroom apartments at The Shore Residences, don't bother. All of them have been snapped up already ... and dön't say we didn't wärn you!
In total at least 183 units were sold by 1st January 2010. Other configurations such as the 2- and 3-bedroom apartments are still flying off the shelves according to the developer, Far East Organization.
Over in District 9, Urban Suites a luxury condominium has sold all its 60 units in phase one. Prices ranges between $2,400 and $2,700 psf and according to The Edge, the second phase will be launched in Jakarta, Indonesia next week.
It sure looks like 2010 is starting with a bïg bäng for property!
F01 N54 Sheer Driving Pleasure
Ageing malls going for en bloc sale
Katong Shopping Centre is selling with a reserve price of $2,000 psf
Tan DawnWei
The Sunday Times
Sunday, 10 January 2010
Katong Shopping Centre
It may be early days yet but en bloc fever could be making a comeback, and not just for home-owners.
At least two ageing malls are trying for collective sales now that the economic crisis looks to have blown over.
Katong Shopping Centre in East Coast Road has appointed a marketing agent, the Dennis Wee Group. Its collective sale committee has held at least four meetings with the agent in the past 3 months.
At Golden Mile Complex in Beach Road, unit owners said property agents from PropNex went around a few months ago to collect signatures from anyone interested in selling their shops, offices or residence.
Owners said the agency promised them a high reserve price of $1,300 psf, double what was being transacted then.
Mr Winston Low, chairman of Katong Shopping Centre’s collective sale committee, said the mall’s owners talked about selling as far back as 1996. But it was not until 2007 that they decided to take action.
‘The surrounding area was already developed, and we felt it was a good time to try,’ he said, referring to the many residential projects that have come up in the vicinity. You see a lot of successful stories but also lots of disputes. We were very careful,’ he said.
The committee received approval from more than 80% of the 410 owners. About 30% of the 36-year-old mall is owned by Singapura Developments, a subsidiary of City Developments.
Mr Jimmy Teng, investment sales director at Dennis Wee Group, believes the 90,000 sqft site might be prime for another mall – one that is less ‘overwhelming’ than the nearby Parkway Parade.
Mr Low said the committee is working out the apportionment details and has set a reserve price of $2,000 psf.
Apportionment is always the biggest challenge facing a collective sale for mixed developments with multiple owners.
For instance, shop units on the ground floor or those with frontage would likely demand a larger share of the pie compared to less visible units.
Relying on share values and strata areas is not enough, and professional valuations are often needed when doing the sums, said property experts.
‘The challenges may be overcome if the profit element is immense. Part of the solution to overcoming that is to incur more money to get valuers in,’ said Mr Karamjit Singh, managing director of Credo Real Estate.
Property consultant Steven Ming thinks there may be a few launches of mixed-development collective sales this year. ‘We will still need to hold our breath and see if a transaction will materialise as there generally is still a disconnect in price expectations between en bloc sellers and buyers,’ said Mr Ming, Savills’ director of investment sales and prestige homes.
Only a few commercial buildings, including Kim Seng Plaza, Kim Tian Plaza and Ming Arcade, have been sold en bloc in the past few years.
Others, like Paramount Hotel and Shopping Centre, Roxy Square and Parklane Shopping Mall, tried to jump on the bandwagon during the last property boom, but with no success – and, for now, are not trying to do so again.
Mr Ho Eng Joo, Colliers International’s executive director for investment sales, believes land values are not high enough yet for most owners of mixed developments to bite.
The old malls sit on prime land, and the owners are in no great hurry. Still, the price must be right to draw interest from developers.
‘If owners can get their act together, fulfil all the amended laws, get consensus, then developers will of course be keen to look at these developments,’ said Mr Ho.
F01 N54 Sheer Driving Pleasure
3-bedroom showroom tour video link: http://www.youtube.com/watch?v=pgDAA...eature=related
Junior
I heard Michelle Chia bought a unit there. My agent saw her.
Newbie
Aiyah Bro, TCS actress nia.. no big deal lah..I heard Michelle Chia bought a unit there. My agent saw her.
New Launch Project Specialist
See her in the pool in bigeenie
F01 N54 Sheer Driving Pleasure
Hers no big deal but nice.See her in the pool in bigeenie
Will she teach waterpolo at The Shore Residences?
Junior
I can be e coach.
F01 N54 Sheer Driving Pleasure
$1,318 psf is a good start for TSR.
Junior
Passed by just now, seems like at least half of the units sold. Looks like FEO's marketing of "same price as Ang Mo Kio yet 10mins to Marina Bay working well"
F01 N54 Sheer Driving Pleasure
Developers brimming with new launches
Far East said to be top seller in January; Lippo and MCL may release some units
Kalpana Rashiwala
The Business Times
Tuesday, 2 February 2010
On the rise: The average price for Centennia Suites is being touted at $2,000 psf or even higher, beating prices in secondary market for nearby projects.
Even as developers have gotten off to a good start this year, selling well over 1,000 private homes in January, their launch machinery remains well oiled for more roll-outs in the near future.
Lippo Group is expected to preview Centennia Suites on the former Kim Seng Plaza site, diagonally opposite Great World City, later this week. The average price for the District 9 freehold project is being touted at $2,000 psf or even higher.
This is higher than recently achieved prices in the secondary market for nearby projects such as The Trillium and The Cosmopolitan but Lippo is probably banking on the exclusivity factor to market its latest offering. The 36-storey freehold Centennia Tower comprises a single tower with just 97 units, comprising 2-, 3- and 4-bedroom apartments and 2 penthouses.
The 2-bedders are relatively large at slightly over 1,200 sqft. 3-bedders come in 5 variations but all around 1,800 sqft; 4-bedroom apartments also have 5 variations of roughly 2,250 sqft. Centennia’s 2 penthouses are around 3,300 sqft and 4,400 sqft. BT understands that the project is being marketed by CB Richard Ellis and Jones Lang LaSalle.
Agents are also busy gathering interest for MCL Land’s The Estuary, a 608-unit condo at Yishun Ave 1/2. Some market watchers say that they would not be surprised if MCL releases some units before the Chinese New Year break.
For the month of January, Far East Organization (FEO) is believed to have been the top seller, with sales of close to 300 units. Its bestseller was The Shore Residences, a 103-year-old condominium project on the former Rose Garden site in Katong. Far East is understood to have sold over 140 units in the project last month.
City Developments (CDL) sold 243 units in January, the bulk of which were in Cube 8 at Thomson Road (167 units) and Livia in Pasir Ris (59 units), a CDL spokeswoman said.
Fellow property giant CapitaLand also did brisk sales. Its 165-unit Urban Suites condo in the Cairnhill area is said to be left with fewer than 30 units.
Frasers Centrepoint sold a total 102 units last month, including 43 units at its Residences Botanique in the Yio Chu Kang/Sirat roads area.
Frasers Centrepoint’s and Far East’s sales numbers are inclusive of about 35 units sold at their 2 joint-venture condominium projects along Bedok Reservoir, Waterfront Waves and Waterfront Keys.
Allgreen Properties is also believed to have sold a total 62 units from its preview of Holland Residences last week. The average price is $1,625 psf.
CB Richard Ellis executive director (residential) Joseph Tan says: ‘Generally, buyers are showing more interest and there’s acceptance that prices have bottomed out with a strong likelihood of growth. Developers in their pricing policy should also leave room for capital appreciation for investors.’
A Morgan Stanley report dated Jan 27, on a survey of the Singapore private residential sector involving Singapore-based respondents, concluded that, generally, respondents are expecting prices to trend upwards gradually in the medium term rather than spiking in the next 12 months.
As for developers, DTZ executive director Ong Choon Fah says: ‘When there’s a window of opportunity like what we’re seeing now, developers want to capitalise on it and try to push out projects as soon as possible; they can always restock land at government tenders.
‘After all, most economists are still calling for a note of caution on the sustainability of the global economic economy – for instance, if interest rates rise and as governments withdraw their stimulus measures.’
F01 N54 Sheer Driving Pleasure
So The Shore Residences has hit a nëw hïgh of $1,436 psf?
This is good for Katong, isn't it?
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