The Estuary

[Condorich]

Stack 10 and 11... and 18.. similar facing with stack 4... think might have sun issues. Stack 10 is pretty odd like a key. Stack 11, 18 looking down, looking at or looking up at the spikes.

As always... options granted are not confirmed sales until they are exercised. Agents will be heart broken if the buyers changed their mind after consulting others, such as their fengshui master, financial advisors and property guru friends..

Left overs for grabs.

Correct myself.. stack 18 may not have the spikes view as it should be blocked by stack 13. Stack 11 has limited spike views or none..

[nav14]

Kurby, not sure if Seletaris' rental yield is high though...

For rental yield, suburbs or Yishun will be the last place I will invest in. For the price of 2 bedder in suburbs , I rather buy a one bedder in city or city fringe area. Easier to rent, better class tenants, slightly better yield and more room for price appreciation in long term.

[azeoprop]

Latest info from agent is that the developer is offering a few alternative layouts to the 2+1 in an effort to move the units.

[kane]

customising 2+1 units? they're really bending backwards for these smaller units.

[Condorich]

The demand for 2 or 2+1 has been shifted to 1 bedders...

Not much they could do with the layout right? Kitchen, Balcony and Tiolet fixed....Only the study room could go as it is really odd... if they could enclose the tiolets for each room.. it should be better, but well....

[azeoprop]

The demand for 2 or 2+1 has been shifted to 1 bedders...

Not much they could do with the layout right? Kitchen, Balcony and Tiolet fixed....Only the study room could go as it is really odd... if they could enclose the tiolets for each room.. it should be better, but well....

Yah, the first option is to make the study and the other bedroom into a big bedroom, which is a more livable size. So u get a big 2 bedroom unit. The other option is to expand the master bedroom into the study area with walk-in wardrobe. The last option is to turn the study area into a family area with extra TV/cable socket.

[Wild Falcon]

Not sure what you're talking about. Rental yields in mass market is currently around 3.5% while prime areas around 2.5%. Read the Nomura analysis. Rental yield means Rental/Capital, not just gross rental alone. There are mickey mouse units in the city that has difficulty renting out - and can only rent to short term tenants. Remember don't be a lemming. At today's price, may not be too wise investing in the city anymore. And new city centers are being formed all the time. There is a recent news that most govt agencies will move to Jurong Lake District by 2015 to kickstart the process. Don't be a lemming if you're late in the game.

For rental yield, suburbs or Yishun will be the last place I will invest in. For the price of 2 bedder in suburbs , I rather buy a one bedder in city or city fringe area. Easier to rent, better class tenants, slightly better yield and more room for price appreciation in long term.

[Reporter]

10 bids for Yishun EC site
Joyce Teo
Property Correspondent
The Straits Times
Thursday, 11 March 2010, 6.19 pm


The winning developer of the 15,074 sq m site on Yishun Avenue 11 will have to set aside 95% of units in the initial month of sale for first-time home buyers. The plot can yield about 385 units. -- Photo: Chew SengKim, ST

The tender for an executive condominium (EC) site in Yishun attracted 10 bids at the close on Thursday.

China-based MCC Land (Singapore) put in the top bid of $127.8 million or $281.3 psf ppr.

Other bidders include Far East Organization, Sim Lian Land and Boon Keng Development.

The winning developer of the 15,074 sqm site on Yishun Avenue 11 will have to set aside 95% of units in the initial month of sale for first-time home buyers. The plot can yield about 385 units.

Last week, an EC site in Sengkang drew 11 bids, with the winning offer trumping analysts' expectations by a fair margin.

The 19,000 sq m site, which can be developed into 520 apartments and is near Buangkok MRT station, was topped by Frasers Centrepoint's Opal Star and Lum Chang Building Contractors, with a bid of $193.28 million or about $315 psf ppr.

The Government last put up an EC site for sale in Punggol in September 2008 but failed to attract any bids. The last EC launched was La Casa in Woodlands in May 2005 - for around $550 psf - which was completed in early 2008.

[nav14]

Not sure what you're talking about. Rental yields in mass market is currently around 3.5% while prime areas around 2.5%. Read the Nomura analysis. Rental yield means Rental/Capital, not just gross rental alone. There are mickey mouse units in the city that has difficulty renting out - and can only rent to short term tenants. Remember don't be a lemming. At today's price, may not be too wise investing in the city anymore. And new city centers are being formed all the time. There is a recent news that most govt agencies will move to Jurong Lake District by 2015 to kickstart the process. Don't be a lemming if you're late in the game.

My studio in the city fringe got rented out last month within one week of the pevious tenant moving out and at a 5% yield based on today's prices or 7% based on purchase price. There are still good buys out there if you look properly. Go for sub-sale units as they tend to be lower priced and will give better yields. The 2.5% yields are based on brand new purchases in super prime locations.

[Reporter]

Yishun EC site gets 10 bids, what will be the launch price?
H88
Friday, 12 March 2010, 12:37



The Executive Condominium (EC) site at far off Yishun Avenue 11 is pretty hot, and has attracted 10 bids. The site is likely to be won by MCC Land Singapore with a $127.8M bid.



According to CBRE, the break even price for the condo built would be roughly $520 psf. Which means that the developer has plenty of space to maneuver between The Estuary's recent pricing of ~$735 psf - $870 psf and still make a healthy profit.

Of course the EC developer could get greedy and keep in trend with the recent launch of The Estuary ... but that would mean ~$750psf ECs. Would you bite then?

Just to clear your heads, the Lilydale EC that sits just beside the EC site, recently transacted between $516 psf - 536psf.

[jwong71]

So where do the laundry money or unclean money under..?? and where do the money goes to,after surfaced as clean money..

-Decent business
-Supercars
-properties.

[ksh]

Market is crazy, unsustainable...

[Reporter]

Oh my god!
The Estuary starts with a hïgh of $921 psf!
What was it thinking?
It wants to join the OCR $1,000+ psf Club?


Private Residential Units Sold in the Month of February 2010
Project Name .. Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
The Estuary ...... OCR ....... 386 ....................... 386 ........................ 921 ............. 757 .............. 633

[azeoprop]

I think some of the high floor 1 bedroom units are close to 1000psf.

[mantrix]

1000psf??

Has this phenomenon affected the freehold condos further away like Northwood / Seletaris / Springhill?

[ksh]

1000psf??

Has this phenomenon affected the freehold condos further away like Northwood / Seletaris / Springhill?

Its only a matter of time boss...

[Lao Hu]

Its only a matter of time boss...

No need to see far. Just check the price of nearby condos after Centro and Optima was launched.

[Reporter]

Market is crazy, unsustainable...

The Estuary is not crazy should it hit $1,000 psf. In fact, I am expecting it to do so because it is a sensible thing to do.

If Bishan Loft, the going-7-year-old EC in District 20 Bishan can do $806 psf, why should The Estuary, a new and "normal" condo, not hit $1,0xx psf? It doesn't make sense!



Bishan Loft
Address ............................. psf ............ Area .......... Price .......... Contract Date
31 Bishan Street 11 #32-05 .... $806 psf .... 1,141 sqft .... $920,000 .... 4 Feb 10

[proud owner]

Oh my god!
The Estuary starts with a hïgh of $921 psf!
What was it thinking?
It wants to join the OCR $1,000+ psf Club?


Private Residential Units Sold in the Month of February 2010
Project Name .. Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
The Estuary ...... OCR ....... 386 ....................... 386 ........................ 921 ............. 757 .............. 633

this thread was one of the HOTTEST last month ..

all of a sudden .. not much update ..

fully sold ?

resale units out for sale soon ?

[azeoprop]

I guess more or less the good units were all gone. Last time went there left 2+1 and the low floor 3 bedders and a few west facing 2 bedders.

It seems that this project has become the new baseline pricing for new launch of 2010, like caspian was in 2009.

[Condorich]

this thread was one of the HOTTEST last month ..

all of a sudden .. not much update ..

fully sold ?

resale units out for sale soon ?

This is the usual norm... it is like a FISH feeding frenzy.. when they are biting.... even if you throw rubbish they will bite... When the frenzy is over... they won't know why did they bite.

Have to wait for next feeding frenzy if it is to come.

[proud owner]

This is the usual norm... it is like a FISH feeding frenzy.. when they are biting.... even if you throw rubbish they will bite... When the frenzy is over... they won't know why did they bite.

Have to wait for next feeding frenzy if it is to come.

hahah pal

i really like your analogy ... how apt

[Condorich]

hahah pal

i really like your analogy ... how apt

Thanks pal... it is near the waters, hope that it will not be under water when it TOPS

[jitkiat]

93 Yishun Avenue 1 #11-23
99 Yrs From 25/06/2008
$770
926
$713k
11 Mar 10
93 Yishun Avenue 1 #06-21
99 Yrs From 25/06/2008
$709
1302
$923k
10 Mar 10
93 Yishun Avenue 1 #09-19
99 Yrs From 25/06/2008
$714
1195
$853k
10 Mar 10
91 Yishun Avenue 1 #13-15
99 Yrs From 25/06/2008
$779
1216
$947k
09 Mar 10
87 Yishun Avenue 1 #05-05
99 Yrs From 25/06/2008
$816
592
$482k
09 Mar 10
93 Yishun Avenue 1 #03-22
99 Yrs From 25/06/2008
$660
1528
$1008k
09 Mar 10
89 Yishun Avenue 1 #02-12
99 Yrs From 25/06/2008
$800
603
$482k
09 Mar 10
93 Yishun Avenue 1 #10-23
99 Yrs From 25/06/2008
$767
926
$710k
08 Mar 10
93 Yishun Avenue 1 #05-19
99 Yrs From 25/06/2008
$697
1195
$832k
08 Mar 10
97 Yishun Avenue 1 #15-35
99 Yrs From 25/06/2008
$812
926
$751k
05 Mar 10
99 Yishun Avenue 1 #11-38
99 Yrs From 25/06/2008
$723
1302
$942k
23 F

[Condorich]

93 Yishun Avenue 1 #11-23 $770 926 $713k 11 Mar 10

93 Yishun Avenue 1 #06-21 $709 1302 $923k 10 Mar 10

93 Yishun Avenue 1 #09-19 $714 1195 $853k 10 Mar 10

91 Yishun Avenue 1 #13-15 $779 1216 $947k 09 Mar 10

87 Yishun Avenue 1 #05-05 $816 592 $482k 09 Mar 10 (Studio)

93 Yishun Avenue 1 #03-22 $660 1528 $1008k 09 Mar 10

89 Yishun Avenue 1 #02-12 $800 603 $482k 09 Mar 10 (Studio)

93 Yishun Avenue 1 #10-23 $767 926 $710k 08 Mar 10

93 Yishun Avenue 1 #05-19 $697 1195 $832k 08 Mar 10

97 Yishun Avenue 1 #15-35 $812 926 $751k 05 Mar 10

99 Yishun Avenue 1 #11-38 $723 1302 $942k 23 Mar 10

Can it be exercised by first buyer and put up in sub-sale so quickly? It was launch in Feb right? You mean they exercised and then the sub sale buyers exercised it again. This is FISHY.

Done my own checks.. it is the exercised options by 1st buyer. No subsale yet. Do correct me if I am wrong. Thanks.

[jitkiat]

Definitely not subsale. Looks like studio starting at 800psf, 2br non-lake-view unit starting about 750psf.

[gosperence]

Hi JitKiat where to check out this info?
Surprised to see some transactions at pre-launch price but transaction date in Mar.

[Condorich]

Hi JitKiat where to check out this info?
Surprised to see some transactions at pre-launch price but transaction date in Mar.

They are available in streetsine.com

What you see is actually the same set of transactions. Offered preview prices in Feb..., granted options. The caveats will be lodged after the option owners exercised their options (for loan cases) within the exercisable period.. so you see it in March or Apr.

Nothing surprising, nothing to shout about... as these are normal transactions. You should be more interested in sub-sale transactions.

[Condorich]

The mystery parcel has been unveiled.

http://www.hdb.gov.sg/fi10/fi10297p....plan+(RPD).jpg

http://www.hdb.gov.sg/fi10/fi10330p....1?OpenDocument

This should moderate some of the exuberance there.

Hi.. since you are not aware of future developments in Yishun, let me try to share these info with you so that you will consider carefully if you want to exercise the option and seal the deal (seal the fate - good or bad ).

Land available for sales in Yishun.. been there for some time and not sold off... so you are probably right to say that developers will not bid for them. Even if they bid, they will be as stated "priced damn low". If so, what will happen to your investments?

1. Yishun Condo (Available for application now)

http://www.hdb.gov.sg/fi10/fi10330p....c?OpenDocument
http://www.ura.gov.sg/pr/graphics/2009/pr09-76a17.pdf

2. Yishun Executive Condo (Confirmed list, available in Jan 2010 but no news yet) http://www.ura.gov.sg/pr/text/2009/pr09-76.html)

http://www.hdb.gov.sg/fi10/fi10330p....3?OpenDocument
http://www.ura.gov.sg/pr/graphics/2009/pr09-76a2.pdf

3. Yishun low rise condo, just beside your beloved shaugnessy... (available in May 2010)

http://www.hdb.gov.sg/fi10/fi10297p..../Yshun+S5a.jpg
http://www.ura.gov.sg/pr/graphics/2009/pr09-76a23.pdf

4. Sembawang Shopping Centre area (Strata Landed or condo or flats - available in Apr 2010..) This is a much much better location as compared to Shaugnessy if not for the reserviour view. If you have reserviour or golf course view, happy for you.

http://www.hdb.gov.sg/fi10/fi10330p....a?OpenDocument

5. Mystery land parcels if government throw up more land for sales... beware.

Kovan Melody near MRT, and you must have sold at a profit.. but why Shaugnessy? Not near MRT at all..

The reserviour view comes with a premium... but as with all heartlander purchase, risk of loan default is extremely high and fire sales may appear from time to time... I've been to the show room and it is not impressive to me at all.. I wish you luck.

[Carlovers]

but, does those two location had anything better than Estuary?