NEW CONDO @ BEDOK CENTRAL BY CAPITALAND

[dtrax]

you should have da bao some laksi lemak n prata sell @ $5 per pack, sure full sell out.. afterall the price is only 50% of their first hour pay. CHEAP!

[dmonddd]

couldnt quite believed it! drove down @ 2am to the showroom,indeed a large crowd queing up there.
singapore is indeed a small nation obsessed with properties n cars.
where in the world will u find anyone willing to pay for a piece of paper that cost twice as much than yr new merc c180 besides here in singapore.

the article posted by daytona on $ per individual says all

btw I read that there are 500 ppl queuing 100 of which are students for this 583 units project

would like to see takeup rate as that will ascertain real demand
hope it is not merely one of those selling tactics ....

[hyenergix]

Assume the students queue for 3 days: 3 days x 24 hours x $10 per hour x 100 students = $72k. We haven't added the cost of people who took leave to queue. Capitaland is very efficient at wasting money. What a shame it is a GLC strongly backed by Temasek.

http://en.wikipedia.org/wiki/Temasek_Holdings'_investments

[ecimbew]

So what? Let's wait for the real transactions. That's the real deal.

[dmonddd]

Assume the students queue for 3 days: 3 days x 24 hours x $10 per hour x 100 students = $72k. We haven't added the cost of people who took leave to queue. Capitaland is very efficient at wasting money. What a shame it is a GLC strongly backed by Temasek.

http://en.wikipedia.org/wiki/Temasek_Holdings'_investments

Agree the opportunity costs involved ie manhours.
That's marketing strategy adopted by apple.
Well we have some who took the bait

I wouldn't unless it's limited edition item.
Sad to see our fellow citizens coming to such senses
China has girls giving up their pride for a iPhone
Don't ppl nowadays have short definition of precious or I should say much more simple minded. We probably think too much

[dmonddd]

So what? Let's wait for the real transactions. That's the real deal.

My take is only the favorite units will be taken up
Ppl queue for good views

Just read 8 blocks 15 storey
Mostly 1-2 bedders
Cut out the ground, 4th floor and 14th floor- 12 storey salable
1 floor 6-8 units

Pool facing 4 units per floor - generous calc
Half of them may have good directions NS, no afternoon sun

2x12x8 = 192 units taken up

[kane]

To make this marketing campaign a success, they should underpriced it slightly to ensure almost 100% take up. Watchers are looking at them for the take up rate to gauge the real response.

[bargain hunter]

Bedok project draws long queue, but...

HUNDREDS of people braved the rain and scorching heat yesterday to queue for the upcoming Bedok Residences project, but many claimed they were either acting for agents or being paid to stand in line by genuine buyers.
The line started forming on Sunday night and numbered a few hundred by 7pm yesterday. The CapitaLand project will be launched tomorrow.
Plastic bags and rubbish were strewn across the entrance of the showroom as the crowd settled in for the long wait at the show-flat near Bedok MRT station.
A CapitaLand spokesman said each person in the line is assigned a number that entitles him to pick a unit.
It was not clear why the potential buyers, having obtained a queue number, had to remain behind instead of being allowed to return on the day of the launch.
Some market watchers reckoned this to be a marketing ploy, as the sight of a big turnout might help drum up interest among buyers at a time of flagging interest in the residential market due to the global uncertainty.
While the project is centrally sited near the Bedok bus interchange, the pricing is unlikely to be a top draw.
Although no firm details have been released, prices are expected to hover around $1,300 per sq ft (psf), valuing a 517 sq ft one-bedroom unit at $723,000.
In contrast, several new projects - including A Treasure Trove in Punggol - have sold well in recent months, with analysts pointing to their average price of about $870 psf as a key attraction.
Bedok Residences comprises 583 units of one-, study plus one-, two-, three- and four-bedroom units, and penthouses.
The 15-storey project will be built above a retail development and is due for completion in 2015. It is unclear how many in the queue are really buyers looking to secure a flat in the 99-year leasehold project.
Since the last cooling measures were implemented in January, no major project has been an instant sell-out.
And Bedok Residences is unlikely to buck the trend, analysts noted.
Many people in the queue The Straits Times spoke to were property agents, or students and retirees who said they were being paid by agents to stay in line.
Asked if they were there to buy, a group of women shook their heads and pointed to a property agent's name card.
A potential buyer, Mr Lim K.T., said he was interested in the place as his in-laws lived nearby, but added that some of his friends who had come with him had decided against buying when they saw how disorganised the situation was.
There was no clear instruction on where to queue and many people pushed in.
Some analysts were taken aback at the turnout, given the unstable economic outlook. Guessing at a reason for the crowd, Mr Colin Tan, head of research at Chesterton Suntec International, said the resale market has been slow, so agents may be focusing on developer sales.

[dmonddd]

To make this marketing campaign a success, they should underpriced it slightly to ensure almost 100% take up. Watchers are looking at them for the take up rate to gauge the real response.

Price slashing is one strategy but if I'm developer I would not
It would create a market perception and all developers bigger boys would end slashing one another like lunar new year when you buy cookies or flowers last minute.

For price slashing you dont need a Marketing agent company
Developers team can do. Even the aunties and uncles can do it

[kane]

Its kiasu syndrome. What if for crowd disorderly reasons they decide to launch it earlier? Did capitaland undertake to call each person in the queue when their turn was up? And say you got number 3 but you were at home sleeping when they open the doors to start selling before Wednesday? All that queueing effort would come to nothing.

[dmonddd]

This scene is like HK pre bubble burst but on a milder note
HK has multiple agents the scene to grab customers is worst

Bedok project draws long queue, but...

HUNDREDS of people braved the rain and scorching heat yesterday to queue for the upcoming Bedok Residences project, but many claimed they were either acting for agents or being paid to stand in line by genuine buyers.
The line started forming on Sunday night and numbered a few hundred by 7pm yesterday. The CapitaLand project will be launched tomorrow.
Plastic bags and rubbish were strewn across the entrance of the showroom as the crowd settled in for the long wait at the show-flat near Bedok MRT station.
A CapitaLand spokesman said each person in the line is assigned a number that entitles him to pick a unit.
It was not clear why the potential buyers, having obtained a queue number, had to remain behind instead of being allowed to return on the day of the launch.
Some market watchers reckoned this to be a marketing ploy, as the sight of a big turnout might help drum up interest among buyers at a time of flagging interest in the residential market due to the global uncertainty.
While the project is centrally sited near the Bedok bus interchange, the pricing is unlikely to be a top draw.
Although no firm details have been released, prices are expected to hover around $1,300 per sq ft (psf), valuing a 517 sq ft one-bedroom unit at $723,000.
In contrast, several new projects - including A Treasure Trove in Punggol - have sold well in recent months, with analysts pointing to their average price of about $870 psf as a key attraction.
Bedok Residences comprises 583 units of one-, study plus one-, two-, three- and four-bedroom units, and penthouses.
The 15-storey project will be built above a retail development and is due for completion in 2015. It is unclear how many in the queue are really buyers looking to secure a flat in the 99-year leasehold project.
Since the last cooling measures were implemented in January, no major project has been an instant sell-out.
And Bedok Residences is unlikely to buck the trend, analysts noted.
Many people in the queue The Straits Times spoke to were property agents, or students and retirees who said they were being paid by agents to stay in line.
Asked if they were there to buy, a group of women shook their heads and pointed to a property agent's name card.
A potential buyer, Mr Lim K.T., said he was interested in the place as his in-laws lived nearby, but added that some of his friends who had come with him had decided against buying when they saw how disorganised the situation was.
There was no clear instruction on where to queue and many people pushed in.
Some analysts were taken aback at the turnout, given the unstable economic outlook. Guessing at a reason for the crowd, Mr Colin Tan, head of research at Chesterton Suntec International, said the resale market has been slow, so agents may be focusing on developer sales.

[kane]

Price slashing is one strategy but if I'm developer I would not
It would create a market perception and all developers bigger boys would end slashing one another like lunar new year when you buy cookies or flowers last minute.

For price slashing you dont need a Marketing agent company
Developers team can do. Even the aunties and uncles can do it

No need to slash, I think somewhere below 1200psf will suffice.

[dmonddd]

To make this marketing campaign a success, they should underpriced it slightly to ensure almost 100% take up. Watchers are looking at them for the take up rate to gauge the real response.

If you are the marketing agent and developer what would you do?
In others countries I heard of developers asking staff of related companies or agents to sign up units so to increase take up rates
I doubt it happens here

Anyway in paper there is only mention of students being paid by friends
I'm sure someone will get hold of the students for interview

[latour]

Price slashing is one strategy but if I'm developer I would not
It would create a market perception and all developers bigger boys would end slashing one another like lunar new year when you buy cookies or flowers last minute.

For price slashing you dont need a Marketing agent company
Developers team can do. Even the aunties and uncles can do it

for all the queuing hype, marketing, news, agents at the showflat grabing anyone that go close to it etc. slashing price looks not possible. Hope developer annouce it at a sensible price (but then its difficult to say) and clear their stock fast fast, since there are already 500+ in queue.

[dmonddd]

No need to slash, I think somewhere below 1200psf will suffice.

under current environment wouldn't the buyers want a price buffer off recent nearby projects although knowing recent nearby projects were priced during upturn.

That's why I said slashing.
I may consider east projects only if priced below 1000psf

Demand and supply forces
Less resale transactions with ready cash-flow whilst new launch locks in cashs
Betting on upside for 3 years recovery? Probably ok if take SSD into consideration but resale is similar on SSD. Well everyone's risk appetite differs

[kane]

If you are the marketing agent and developer what would you do?
In others countries I heard of developers asking staff of related companies or agents to sign up units so to increase take up rates
I doubt it happens here

Anyway in paper there is only mention of students being paid by friends
I'm sure someone will get hold of the students for interview

I would price it to move. It'll be very bad publicity if the queue is so long byt the take up rate is low.

[kane]

under current environment wouldn't the buyers want a price buffer off recent nearby projects although knowing recent nearby projects were priced during upturn.

That's why I said slashing.
I may consider east projects only if priced below 1000psf

Demand and supply forces
Less resale transactions with ready cash-flow whilst new launch locks in cashs
Betting on upside for 3 years recovery? Probably ok if take SSD into consideration but resale is similar on SSD. Well everyone's risk appetite differs

You and I are rational who won't pay above $1k psf. But the crowd there probably isn't as rational.

[Lovelle]

hmm, this one sound like a little but like The Centris. Shopping cum residence.

[kane]

But centris has a major shopping centre.

[dmonddd]

You and I are rational who won't pay above $1k psf. But the crowd there probably isn't as rational.

From the article, the project seems to be driven by 'wants'
Mr. Lim came with few friends but the others dropped out. Imagine preview of LV limited edition, a need, those in queue will not budge/give up - die die must have

Mr. Lim - i want to buy because near my in-laws place. If i ask further- HDB upgraders, in-laws staying in nearby HDB.

Agree with you on the irrational crowd on pricing
so my take of the situation - low take up rate overall

[mcmlxxvi]

The smart will think this way - just queue first. Someone else will offer $$$ to buy your position from you when launch day arrives. ;-)

[Lovelle]

400 people cld be queuing for MMs....

[masterkey]

Expect many in the queue are there in case the launch price is attractive so be first in line to grab the best units. At $1300psf, actual sales will disappoint on Wed.

No doubt some will still buy due to heat of the moment (or from 3 days of sun), and suffer from buyer's remorse later.

[mcmlxxvi]

400 people cld be queuing for MMs....

Eh... There is no MM in this project, no?

[dmonddd]

The smart will think this way - just queue first. Someone else will offer $$$ to buy your position from you when launch day arrives. ;-)

yes i agree if the market is trending up
nay not now. btw would you offer $$$

[dmonddd]

Expect many in the queue are there in case the launch price is attractive so be first in line to grab the best units. At $1300psf, actual sales will disappoint on Wed.

No doubt some will still buy due to heat of the moment (or from 3 days of sun), and suffer from buyer's remorse later.

i may consider east OCR condo with (2 notch facilities better than CCR condo - compensated by distance) if below $1k.

comparing CCR or brink of CCR resale condo ard same psf..and investment yield plus higher price elasticity (CCR condo price drop and up quicker)

[masterkey]

i may consider east OCR condo with (2 notch facilities better than CCR condo - compensated by distance) if below $1k.

comparing CCR or brink of CCR resale condo ard same psf..and investment yield plus higher price elasticity (CCR condo price drop and up quicker)

Not many investors in that queue, mainly upgraders and perhaps marketeers' proxy, vastly different considerations. but the wishes of the masses are realities, no matter how incredible.

[mcmlxxvi]

yes i agree if the market is trending up
nay not now. btw would you offer $$$

I would if queue number is good and I interested in this project seriously. But no interest in this one...

[mcmlxxvi]

But centris has a major shopping centre.

In these coming hard times, Bedok with its super extensive neighbourhood shopping appears far more logical for the astute... Live like a King, eat like a pauper!!! ;-)

[dmonddd]

I would if queue number is good and I interested in this project seriously. But no interest in this one...

would price slash drives up your interest in this project?