Coralis will make money simply from the Katong Mall upgrade, why do you think it was sold out quickly?
Coralis will make money simply from the Katong Mall upgrade, why do you think it was sold out quickly?
I believe it is already priced into the psf.Originally Posted by xebay11
(Disclaimer: i have a unit in PSB)
A toast to Coralis!
Very soon, we will be seeing it hitting the next threshold of $1800 psf when subsale / resale comes into play.
Yes... That will be very good news indeed. Of course, some here will say that 1800 psf is impossible just like "it will never achieve 1500 psf for its joo chiat address" .Originally Posted by Blue
When the new revamped katong mall is up, who cares what address it is as long as you can walk over to catch a movie in less than 5 mins.
Impossible is only for those with hindsight but without foresight.Originally Posted by bullman
Joo Chiat cleans up sleazy image
By Joanne Chan | Posted: 19 April 2010 1817 hrs
SINGAPORE : Joo Chiat, once infamous for a stretch of road where prostitutes openly solicited, has now flushed out most of its sleaze. MP Chan Soo Sen said this ahead of a ministerial visit by Law Minister K Shanmugam next month.
Joo Chiat wants to be known for its rich Peranakan heritage, best seen in the old shophouses that line its streets. But its history had been overshadowed by a stretch of road, which gained a reputation as a hotspot for prostitutes.
Back in 2005, Joo Chiat Road was populated by many budget hotels, massage parlours and pubs and this caused great distress to residents who were often separated by just a small alley.
Complaints about loud noises and unfavourable activities in the back lane led to the installation of lights in 2008, and the situation has since improved. Other efforts to clean up the area included an appeal to the police to stop the number of licences handed out to such establishments.
A neighbourhood watch group was also formed to keep a lookout for places that broke the law. And these have paid off, as the stretch of road where prostitutes would solicit has also been reduced from 800 metres to 50 metres.
The pubs and massage parlours have also given way to family restaurants and art galleries.
In 2005, there were more than 40 pubs and 30 massage parlours in that area. These dropped to 30 pubs and fewer than 5 massage places in 2008.
Chan Soo Sen, MP for Joo Chiat, said: "It will make more economic sense for the landlord to rent our their premises to businesses that can give them better returns, rather than to businesses that have to get a police licence, and who are observed regularly by the community. So I'm confident that over time, things will improve further."
Asked if he plans to stand in the next General Election, due by February 2012, Mr Chan said he would like to continue, but this has to be decided by his party, the People's Action Party.
He added: "The Joo Chiat community has given me their support in the last general election. It is my duty to serve them loyally and with dedication, till the last day of my term, whatever that term may be."
Mr Chan has served two terms as an MP for Joo Chiat, and prior to that, one term in East Coast.
Meanwhile, the work to improve the image of Joo Chiat continues, with the constituency working closely with the Peranakan and Eurasian Associations to highlight its food and culture.
There are also plans to improve the old infrastructure of the area, such as the drainage system, and also to promote active aging among senior citizens.
When will work at katong mall start? Actually if the Marine Parade MRT exit is near PSB or Coralis (just like Waterbank where the MRT exit is near the condo) then I think the 2 projects are good buys, esp since it's near Katong Mall(which will be revamped). The whole area will be very lifestyle like. What I like about the 2 projects is that there is underground car-parks, unlike the new projects(Waterbank, The Shore, Moda, etc) which do not have underground car parks. That, to me, for this point, is no different from where I am staying(HDB) where I have to park and walk a longer distance then if the car is park just under the block. anyway, thinking of buying, but still saving up
agree with you bro. heard from an agent at coralis (who in turn heard from hdb folks who went to the showroom) that there's soil testing at the former marine parade library area. not sure about the genuity of these rumors but couple of forumers had also mentioned that testing has been done in the same vicinity.Originally Posted by CK
underground carparks are a factor of consideration personally, though not a huge pull factor. not sure if psb got any leftover units, but all the best with your savings
Hi Eng81157,Originally Posted by eng81157
Are you vested in any of the projects there? My gut feel is that The MRT exit has to be near the Marine Parade HDBs(have to please the voters) and near to govt shops,library, etc(to benefit the State) and yet not too far away from the central where activities are, so very likely the exit will be near the old cinema (cos it's not far away from NTUC-govt's, library, HDBs, Parkway, Katong Mall). I don't think it'll be near Amber side....no compelling reason for it to be so......that's why, sigh, it makes coralis and PSB attractive...just have to save a while more....hopefully price stays till then.
Hi bro,Originally Posted by CK
I hope all goes well with your savings. No worries. There are still left over units at both PSB and Coralis. The higher quantum units will not move so fast.
I agree that the mrt has to be near.
I hope that it is actually at the old cinema. It will be just opposite PSB and Coralis then. Can you imagine what the price of these 2 developments will be then?
Bullman, is yours a high floor unit?
If I am not mistaken, PSB is left with only Stack 4 low floors and 1 Stack 1 #02 unit.
All are 4-bedders (1593 - 1615 sq ft).
MRT ERL announcement will be by 2013, so I hope to get a unit before the announcement. Can't buy PSB cos big units mean big cash can't afford.
Originally Posted by CK
Yes. I bought a high floor 2 bedder. Then decided to commit the same "mistake" by taking up another 3 bedder. Developer was gracious enough to extend the same early bird discount to me for the 2nd unit as I was dumb enough to actually buy a second unit despite the high psf.
Bullman, for your 3 bedder, which stack is it?
heh, i don't think popping into the development's showrooms would equate to having a vested interest in coralis. bullman's got a point in that leftover units of higher quantum are unlikely to transact that quickly.Originally Posted by CK
jia you in your savings!! better buy more empty milo tins to tuck away under your bed
Why do you think you are dumb to buy Coralis when everyone else in the neighbourhood (PSB, The Shore Residence, Moda, Silverseas) bought at same or higher price?Originally Posted by bullman
The sales of these development have somewhat stablise / form a new base price for this area. The only way for price to move going forward is up when resale market kicks in. The key reason is most people are buying here to stay, and it will not be vulnerable to market fluctuations unless it is a big subprime crisis like in the States.
Announcement in 2013? Which means will take another 5 years to build after announcement? can you wait that long until 2018 for this dream to come true?Originally Posted by CK
If MRT is key factor to your buying decision, you are better off buying somewhere else with exising MRT now, say Dakota area....
The beauty of this area is the beach and proximity to town, airport, famous eateries, library, banks, schools, shopping and cinema coming your way!!!
Starting to see more and more ang mohs / koreans / prcs living in this area. The other day, my ID just showed me one of his project - a conservation house in Katong bought by his ang moh client. Nice!
I actually don't take the MRT often but it'll add value to the project. Dakota is leasehold, not my cup of tea, for that kind of price. Also, for me underground car park is important as multi-storey car park is too inconvenient if you've gotta lug groceries and toddlers at the same time.Originally Posted by Blue
The "dumb" is what other "gurus" label buyers of Coralis as back then. Paying record prices in that area for "Joo Jiat Road" address. I was really dumb not to buy PSB when it was launched. Congrats to Urban who secured a unit there at launch price.Originally Posted by Blue
Personally, I like developments with underground carpark as it is more convenient especially on a rainy day or one has a baby/toddler. It also takes longer and is more expensive to build an underground carpark especially for 2 levels of basement. In particular, I like the 3 tier level of security at Coralis. Security guard post-access card to lobby - access card to lift.
Last edited by bullman; 21-04-10 at 20:48.
No. I only bought recently. So did not get the full 4% discount when launched.Originally Posted by bullman
There are still units available i think.
did u get the 2br or 3br? can share what's the psf of your unit?Originally Posted by urban
I bot the PSB, 4 bedder. 1395psfOriginally Posted by eng81157
wow, doesn't that set u back by 2m??
The way I see it: He made a 2M investment which will fetch him a 10-20% return once Katong Mall is revamped. No need even to wait till TOP.Originally Posted by eng81157
i need more rich friends like you guys in here
Steady, for the same amount of money, you could get a landed, yet you chose a condo. Kudos to u.Originally Posted by urban
"Gurus" or "Goon doos" - we will only know in due courseOriginally Posted by bullman
To each his own I guess. Some people like to buy landed, but I prefer to stay condo.Originally Posted by Blue
There are advantages and disadvantages to both.
It is like saying "why buy a 2-seater roadster when you can get a 4-seater cabrio for the same price to be topless?"Originally Posted by urban, 22 April 2010 11.19 am