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New Bargains to be had?


tenyawph
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Someone done a very detailed 'The Trilinq' review.

 

http://www.propersquare.com/reviews/details/the-trilinq#.Vun8zWdf3IU

 

The conclusion from the review is not flattering. 

 

Quote from the review:

 

We found Trilinq to be very pricey, relative to its neighbours. We were hoping to discover something truly outstanding to justify the cost, but couldnt quite find it.

All in all, we were disappointed in the execution: It felt rather mass market.

 

i looked at the brochure in 2014 (brought back by my sis) and thought that whoever bought this place needs to have their head checked.

It's noisy, the traffic around the area is bad, blocks are cramped, there was ludricious amounts of space wasted on mega balconies and multiple AC ledges, the location is somewhat close to the MRT but still a good walk away and to top it all off, its very expensive for the area.

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i looked at the brochure in 2014 (brought back by my sis) and thought that whoever bought this place needs to have their head checked.

It's noisy, the traffic around the area is bad, blocks are cramped, there was ludricious amounts of space wasted on mega balconies and multiple AC ledges, the location is somewhat close to the MRT but still a good walk away and to top it all off, its very expensive for the area.

 

In other words, this development is somewhat doomed.......The ABSD penalty that it has to pay, in Jan 2017, is $40,800,080 (10% of land costs), if it cannot find buyers for all the unsold units.  

 

I sense that the developer will have to cut prices massively to entice buyers for the remaining unsold units. 

 

Let the countdown begins: 9 months+ from today.....

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i looked at the brochure in 2014 (brought back by my sis) and thought that whoever bought this place needs to have their head checked.

It's noisy, the traffic around the area is bad, blocks are cramped, there was ludricious amounts of space wasted on mega balconies and multiple AC ledges, the location is somewhat close to the MRT but still a good walk away and to top it all off, its very expensive for the area.

Brother when the tide is high, you cant see who is naked.....

 

Its always a shock when the tide is low

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Turbocharged

Today, Nouvel 18 is in my spotlight.  A freehold development, 156 units.  Next to Raffles Girls' Secondary School.  A prime area.  Already TOP.  The curious thing about this development:  It is 100% unsold! Because it is not launched yet!

 

If the developer does nothing until Nov 2016, guess what happens?  It has to pay the government $38M in extension charges (QC charges)!

 

 

 

 

'Bargains' properties that I have posted so far:

 

16 Mar Posting

The Trilinq - potentially paying a hefty ABSD of $40M in 2017 (524 unsold out of 755).

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(edited)

wah bro ... you have expensive taste leh [thumbsup] ... smelly smelly $3.4k psf ...

too bad i cannot afford ... can't even dream ...

post-7984-0-05433800-1459526075_thumb.png

Edited by Wt_know
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Turbocharged

Today's spotlight is on Sky Vue, in Bishan.

 

Developer is CapitaLand. There are 95 unsold units out of a total of 694 units.  Developer is dangling a 6% discount (compared to launch prices) across the board for all unit types.   Prices start from $821,000, $1.1 million and $1.6 million for the 1-bedder, 2-bedder and 3-bedder, respectively.

 

This development's ABSD deadline is in Dec 2017. 

 

 

'Bargains' properties that I have posted so far:

 

16 Mar Posting

The Trilinq - potentially paying a hefty ABSD of $40M in 2017 (524 unsold out of 755).

1 Apr Posting

Nouvel 18 - potentially paying $38M in Nov 2016 (156 unsold out of 156)

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Bro, you are providing good "charitable" services to the community here. [:p]

 

But these are hardly "bargain" properties even though they are at different end of the spectrum.

 

Much depends on whether these developers have "gao gao" bottomline and be able to get around this through various means.

 

Nouvel 18 is a different kettle of fish bec they cater to a different market. They can negotiate for private block sales and "sell" to their subsidaries etc

 

Sky Vue only 10% left, so the stress is not that high for them. They will move some units with discounts but prices are not at "Lelong" level.

 

Drove past Newton26 the other day and it looks TOP from outside. Think only 30 out of 180 units sold. This one may have some potential stress level bec dont think one of the big boys own this. Does it have a ABSD dateline?

 

 

 

 

Today's spotlight is on Sky Vue, in Bishan.

 

Developer is CapitaLand. There are 95 unsold units out of a total of 694 units.  Developer is dangling a 6% discount (compared to launch prices) across the board for all unit types.   Prices start from $821,000, $1.1 million and $1.6 million for the 1-bedder, 2-bedder and 3-bedder, respectively.

 

This development's ABSD deadline is in Dec 2017. 

 

 

'Bargains' properties that I have posted so far:

 

16 Mar Posting

The Trilinq - potentially paying a hefty ABSD of $40M in 2017 (524 unsold out of 755).

1 Apr Posting

Nouvel 18 - potentially paying $38M in Nov 2016 (156 unsold out of 156)

 

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Every day I read in MCF property market has crashed since 2013

 

Then I come here and look for bargains and read

 

all the properties on sale are over priced.

 

How can it be crashed and still over priced?

 

:D

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Did anyone mentioned it there is a crash landing somewhere?!

 

The big Bosses said the market has "landed softly" under "controlled conditions"

 

So softly in fact no one has noticed it has ever landed [laugh]

 

But the Experts say it will be flying sideways with downward drift.

 

Unlikely to crash any time soon.

 

 

 

 

Every day I read in MCF property market has crashed since 2013

 

Then I come here and look for bargains and read

 

all the properties on sale are over priced.

 

How can it be crashed and still over priced?

 

:D

 

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Did anyone mentioned it there is a crash landing somewhere?!

 

The big Bosses said the market has "landed softly" under "controlled conditions"

 

So softly in fact no one has noticed it has ever landed [laugh]

 

But the Experts say it will be flying sideways with downward drift.

 

Unlikely to crash any time soon.

 

Aiyah so sad.

 

One poster jumping up and down screaming crash crash

 

and I got so happy thinking bargains are here.

 

Cannot trust what people say on forums anymore.

 

:D

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Now I thought I was a joker

 

but there is a much bigger one here.

 

I take my hat off to the master.

 

Compare to him I am just 

 

a very raw amateur.  [thumbsup]

 

:D

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I think can still refer but differentiate between factual versus emotional responses.

 

For example, if I made a mistake or error in what was shared, I would accept responsibility and apologise for misleading and not blame any other person / groups.

 

Aiyah so sad.

 

One poster jumping up and down screaming crash crash

 

and I got so happy thinking bargains are here.

 

Cannot trust what people say on forums anymore.

 

:D

 

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The edge property portal seems like got better so called bargain units..

Saw one unit @ The Equatorial n the asking price still stiff [laugh]

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Turbocharged

 

Drove past Newton26 the other day and it looks TOP from outside. Think only 30 out of 180 units sold. This one may have some potential stress level bec dont think one of the big boys own this. Does it have a ABSD dateline?

 

 

 

26 Newton is a freehold development as a result of a collective sale in Mar 2011.  It does not have a ABSD deadline (imposed only on land sales from Dec 2011 onwards).  The developer, Novelty Corp, seems to be a 100% locally-owned company, which implies that no QC (applicable for developer with foreign holdings) is needed.

 

In other words, this development is untouchable.  It can take its own sweet time to sell all its units without any monetary penalty. 

 

Current status:

Recently obtained TOP.  Total units 160.  60 units launched.  33 units sold. 

 

PSF price range of transactions done so far: Low of $2,119 psf (807 sq ft unit) to High of $2,653 psf (614 sq ft unit).   

 

Most of the 33 units sold are 1-bedder.

 

 

 
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Turbocharged

anyone got info on

 

paterson collection

 

Paterson Collection is a freehold development, consisting of 85 units.  The expected buyers are the very rich people, as this development is in a very prime area, and consists only large-sized units of 3-bedder, 4-bedder and penthouses.

 

The developer is Bukit Sembawang View.  It obtained TOP in  2015.  The parent company, Bukit Sembawang Estates, made a provision loss of $17.5M in its 2014 annual report.

 

This is a property that you cannot walk in and buy, simply because it is not launched yet, in view of poor market sentiments. 

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Thanks for the great work in educating.

 

Now I am indeed curious. How many units of the intended (touted) supply from 2016-2018 are subject to QC and ABSD? How many are not and can be deferred for years?

 

The figure will inform about the actual supply versus the touted supply. It has huge implications on final price determination.

 

 

 

26 Newton is a freehold development as a result of a collective sale in Mar 2011.  It does not have a ABSD deadline (imposed only on land sales from Dec 2011 onwards).  The developer, Novelty Corp, seems to be a 100% locally-owned company, which implies that no QC (applicable for developer with foreign holdings) is needed.

 

In other words, this development is untouchable.  It can take its own sweet time to sell all its units without any monetary penalty. 

 

Current status:

Recently obtained TOP.  Total units 160.  60 units launched.  33 units sold. 

 

PSF price range of transactions done so far: Low of $2,119 psf (807 sq ft unit) to High of $2,653 psf (614 sq ft unit).   

 

Most of the 33 units sold are 1-bedder.

 

 

 

 

 

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Turbocharged

Every day I read in MCF property market has crashed since 2013

 

Then I come here and look for bargains and read

 

all the properties on sale are over priced.

 

How can it be crashed and still over priced?

 

:D

 

Please don't believe what people say in the forum, when the official facts are otherwise so far:

 

 

Private property prices (published by URA) since the peak in 2013.

2014 - 4% drop

2015 - 3.7% drop

 

In late 2013, after the latest cooling measure was imposed in mid-2013, property analysts were predicting and expecting a 10% drop in property prices for 2014.  It did not happen.

 

When I created this thread, "New Bargains to be had?" in Jan 2016, the intent is to let people be aware of 2 punitive penalties facing most property developers, the 5-year ABSD deadline, and the QC extension premiums.  To avoid these 2 penalties, the developers might have to drop prices to move sales.  

 

Notice that the thread ends with a question mark.  In other words, I have no certainty that the developers will drop prices (they absorb the penalties), but if they do, the bros here can get a good deal (i.e. bargains).  I don't expect a lelong sale (many bros have too high an expectation here), though (developers are still answerable to their shareholders as well as not to be seen to 'spoil the market'). 

 

I know that T2 in this property forum is shouting down for the property market to go down.  I think there is a good chance that some bargains can be had, especially for those developers who have small % of unsold units on their hands; it is better to get rid of them at discounted prices, instead of paying the ABSD, and 2 years later, pay the QC extensions premiums (if applicable).

 

In the near future, things might change.  You never know.  If the world's economies start picking up, Singapore, currently a laggard in property market vis-a-vis the other hot property markets like in Hong Kong, London, Sydney, Melbourne, etc, will start playing to catch up. 

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