Modykoh 1st Gear October 21, 2008 Share October 21, 2008 castle green, season park @ YCK around slightly above 500psf. Bullion around 600psf. these area now got protnetial for down side next year. u may want to monitor. those nearer to bishan is more ex.. ↡ Advertisement Link to post Share on other sites More sharing options...
King_of_abalone Clutched October 21, 2008 Share October 21, 2008 orrhh you all tokking about parc emily arr.... in 2005 was $700 psf only.. Link to post Share on other sites More sharing options...
Alfpoon Clutched October 21, 2008 Share October 21, 2008 Fire sale: Owners dump condos FOR sale: Luxurious multi-million-dollar apartments, not quite for a steal, but with a hefty discount. Stock market losses have forced some property owners to resort to 'fire sales' for a quick return to liquidity. And because the property market is almost flat, they have had to let go of their property at huge discounts. Property agent Henry Neo receives one SMS a day from different clients asking him to sell their homes. Mr Neo, who has been a property agent for close to 20 years, said: 'The Asian financial crisis of 1997 and this crisis are real challenges. 'It's a tsunami of the stock market.' Two or three of the 50 clients he is servicing now are what he calls 'desperados' - people who had their fingers burnt so badly in the stock market they need to sell their houses. The situation is worse for those who opted for deferred payment schemes, said Mr Neo, because some are no longer eligible for loans, and cannot meet payments once the developers issue the Temporary Occupation Permit (TOP). 'They have to get rid of their properties before TOP, so they would be giving even more discounts.' Noting that the high-end property market seems to be hit the hardest, Mr Neo said: 'My colleagues who specialise in high-end properties are not doing well. They do not have any transactions at all.' Mr David Cheang, senior vice-president of the Resale Division at HSR Property Group, noted that two out of every 10 clients are affected by the stock market crash, and are selling their property investments to 'get more liquidity'. A property agent who declined to give his full name said one of his clients had made such losses on the stock market that he was selling his 27th floor freehold apartment at the Twin Regency for a mere $1.05 million, though its market price is $1.3 million. Last year, he had sold another unit, on the 29th floor of the same condominium, for $1.4 million. It is the same story for Mr Felix Young, 35, a property agent specialising in high-end condominiums. Some of his clients are prepared to go as low as 20 per cent below their offer price. He had taken out an advertisement for five properties, all high-end condominium units in the city. Apartments at The Sail at Marina Bay, which were going for $2,000 psf are now being offered for sale at $1,450 psf, said Mr Young. But even such a huge discount is failing to entice buyers, who are asking for $1,100 psf. That is because even with such discounts, the two-room apartment costs about $1.3 million. In the current climate, not many people would be able to shell out that kind of money because they could be sitting on huge paper losses in the stock market. Mr Young said: 'Buyers have the sentiment that the property market will cool even more, and prices will drop further.' And because of this, said Mr Young, there has been a significant drop in transactions - up to 70 per cent for high-end properties that people buy for investments. Most buyers also know developers' launch price for the condominiums and are holding out until they can get a unit at that price. He said: 'These days, when buyers call me, they ask me if I have any owners who are 'bleeding'.' Bleeding is a term that is used to describe owners who over-committed themselves financially and need to sell their properties in a hurry. Mr Young said: 'Many of my clients' bank loans are kicking in soon, so they need to release the properties quickly, before TOP. 'They are stuck because they can neither sell their property, nor rent it out to cover their mortgages, as the rental market has slowed down a lot.' http://www.asiaone.com/Business/News/My%2B...1020-94983.html time to buy? Link to post Share on other sites More sharing options...
King_of_abalone Clutched October 21, 2008 Share October 21, 2008 but bought somewhere else in D9 let me try guessing in that $900-$1000 psf range: 2RVG the pier leonie hill residence the metz cosmopolitan which one? i got tio or not? Link to post Share on other sites More sharing options...
Hishercar Clutched October 21, 2008 Share October 21, 2008 some got screwed bought before the project was built some units face tje carpark driveway Link to post Share on other sites More sharing options...
Throttle2 Supersonic October 21, 2008 Share October 21, 2008 so that's why i believe the market will go back to somewhere around those levels. $800psf for River Valley is where i foresee. Have to work hard and save money for the next 3 years so that can buy when the time comes. Link to post Share on other sites More sharing options...
Ooniik Neutral Newbie October 21, 2008 Share October 21, 2008 I'm no expert.bot my first property only in 1999. generally speaking:- freehold is better for staying leasehold is better for yield Elias green? dont even bother, dude, I'd rather stay HDB and hold cash. Thanks and care to share why Elias Green is a bad choice? Link to post Share on other sites More sharing options...
Ooniik Neutral Newbie October 21, 2008 Share October 21, 2008 Hi Ooniik, It may be better to go for freehold or 999yrs. If I remember correctly, those developments at Flora Rd are FH, same as Ballota Park. Personally I would rather buy a used HDB just beside the MRT. To me, it has much better market value. In terms of accessibility, I would say Ballota Park is much better if you are driving. There is one Esso station just beside Ballota Park and another Esso station about 50m away along the same stretch. Also, there is a small coffeeshop and some stall nearby plus Barks Cafe. Going to the expressway is also very fast, 2 traffic lights + pedestrian crossing away. Also, there is an exit door near the bus stop. **Quite a few stewardess stay there if I am not wrong coz I always see a bunch of them heading to the bustop when I fill my gas** The thing I dun like about those units at Flora Rd is that loyang road is quite congested during knock off time. It is also quite far from the main road. Not too sure about bus service. Good thing is it is quite cheap and relatively new for a FH at 600k++. I know these info because I work in Changi North area. Hi Perrier. I seem to be leaning towards Ballota and what you stated above is dead accurate. I have been doing a little research around that area as well... now just waiting for the 'right' time to jump in... But after saying all that, I will still keep my options open if a good deal comes along which area are you looking at? Link to post Share on other sites More sharing options...
Perrier 1st Gear October 21, 2008 Share October 21, 2008 I was also looking at Seletaris beside Gambas Ave. It is FH and has chartered bus service to MRT. Now its Jewel as I mentioned earlier. After some research on its layout, I think its quite a bad. More decent units are all East/West facing. Best bet will be unit 50D but carpark design is woeful. Link to post Share on other sites More sharing options...
Fabiaman 1st Gear October 22, 2008 Share October 22, 2008 (edited) My take on props. I hav been calling every weekend to check prices and sentiment. I am not buying but I am just trying to find out the mkt value. 1. Buy to stay - Delay upgrade as long as you can. Physical props prices seems very unrealistic esp the pte homes. - Downgrade? Do it asap! While you can stil find buyer for higher priced homes, sell if if the price is right. Its a buyer's mkt now. Sellers, dun dream, its over. 2. Buy to invest - Delay as long as you can... prices are unrealistic. Humpty dumpy may fall by 3Q next year - buy REITS instead. Super solid yields + A grade assets. Find out more at http://www.lastdone.com. Quite a lot of REITS and a few prop stocks discussions in there. Edited October 22, 2008 by Fabiaman Link to post Share on other sites More sharing options...
Gadgeter 2nd Gear October 22, 2008 Share October 22, 2008 thanks for the info.. Was thinking to upgrade.. Link to post Share on other sites More sharing options...
Focusdude Neutral Newbie October 22, 2008 Share October 22, 2008 Bro, I was looking at J@CH too. Care to share your opinion on it especially on why you feel that the layout's bad. Thanks! Link to post Share on other sites More sharing options...
Wind30 Turbocharged October 22, 2008 Share October 22, 2008 bottomline, after all these discussion, who here will buy within the next three months??? :) 1 Link to post Share on other sites More sharing options...
Ooniik Neutral Newbie October 22, 2008 Share October 22, 2008 I'll be looking to buy next year before June.... 1 Link to post Share on other sites More sharing options...
Ahyoo2002 2nd Gear October 22, 2008 Share October 22, 2008 bottomline: Many rich people in MCF 1 Link to post Share on other sites More sharing options...
Chongster 6th Gear October 22, 2008 Share October 22, 2008 My take on props. I hav been calling every weekend to check prices and sentiment. I am not buying but I am just trying to find out the mkt value. 1. Buy to stay - Delay upgrade as long as you can. Physical props prices seems very unrealistic esp the pte homes. - Downgrade? Do it asap! While you can stil find buyer for higher priced homes, sell if if the price is right. Its a buyer's mkt now. Sellers, dun dream, its over. 2. Buy to invest - Delay as long as you can... prices are unrealistic. Humpty dumpy may fall by 3Q next year - buy REITS instead. Super solid yields + A grade assets. Find out more at http://www.lastdone.com. Quite a lot of REITS and a few prop stocks discussions in there. good call, CMT almost 24 cents of yield and a price of less than $2. that's wicked. but of course all is premised on whether they can maintain the payout in a recession.. THIS IS NOT A RECOMMENDATION. ALL DISCLAIMERS APPLY! 1 Link to post Share on other sites More sharing options...
Sportster Neutral Newbie October 22, 2008 Share October 22, 2008 (edited) For Elias Green, 1500+ sq feet can get around 650K and Ballota for 1472sq ft around 690 to 700k. Very new to private property as well and appreciate any sound advice from the experts and experienced.... I bought my investment property, Elias Green #10 floor 1550sq ft unit in 2005 at $415K. Collected 2 yrs rental income. Sold it last year at the peak just before the sub-prime crap. All these while, I am still staying in my $370K Exec Condo in the north. Good luck to your purchase Edited October 22, 2008 by Sportster 1 Link to post Share on other sites More sharing options...
Gadgeter 2nd Gear October 22, 2008 Share October 22, 2008 definitely not me.. ↡ Advertisement 1 Link to post Share on other sites More sharing options...
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