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Old July 25th, 2009, 06:36 PM   #41
bigbird72
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180 units out of 250 units sold? Small units at $1,000psf some more. Can't believe this ulu ulu place is selling so well - no MRT, no malls nearby, probably have to wait donkey ages for the buses... Treselveo or the Arte at Thomson would have been a better deal value for money wise.

This is what I call following the herd, when pple seemed more swinged by sentiments than reason.
just a stone's throw away from Tagore....where foreign workers sit on the road...
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Old July 25th, 2009, 07:01 PM   #42
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just a stone's throw away from Tagore....where foreign workers sit on the road...

good wat. need to move any thing just wave at them to come.
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Old July 26th, 2009, 08:43 AM   #43
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Probably these are the retirees or would-be retirees? They would like to have a lot of exercise when they retire and hence would like to have a chance to walk a few km to go shopping or even just to buy a packet of bread. They have ample of time to wait for the next bus, so time is not an issue. They don't intend to sell the house anyway (want to live until they die) and hence resale value is not of any concern.

Quote:
Originally Posted by riverfish View Post
180 units out of 250 units sold? Small units at $1,000psf some more. Can't believe this ulu ulu place is selling so well - no MRT, no malls nearby, probably have to wait donkey ages for the buses... Treselveo or the Arte at Thomson would have been a better deal value for money wise.

This is what I call following the herd, when pple seemed more swinged by sentiments than reason.
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Old July 26th, 2009, 04:54 PM   #44
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went over to take a look after eating prata. Wow was really crowded. I think all the agent not free. parking also was a challenge.

the units lay out is actually quite nice. very generous space was told 80% sold for all released units and price will go up in a day or 2. anyway I think really ulu the place. dont drive cannot unless everyday eat prata... and not cheap a 3 bedder ( left very few) is 940psf facing the upper Thomson road.

I dont see any pt getting high floors there anyway coz nothing to c anyway.
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Old July 26th, 2009, 06:09 PM   #45
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I bet majority purchase are Singaporean ..... local still think Thomson, Serangoon are where the mid-high class stay when Singapore landscape has changed so much ....
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Old July 27th, 2009, 06:42 AM   #46
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I prefer Serangoon anytime... compared to city (CBD) living...
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Old July 29th, 2009, 09:29 AM   #47
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went over to take a look after eating prata. Wow was really crowded. I think all the agent not free. parking also was a challenge...
one of S'poreans fav passtime...visiting showflat....i'm guilty too at times...

like the saying goes..."jiak pah buay pao" (finish meal full full still go look for pao, window shopping)... guess in your case it's "jiak pah buay prata"

for stay, i think this project is quite appealing to me... looks cosy enough and close to reservoir, lots of green...plus freehold, ard $850 psf wld be fair value
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Old July 30th, 2009, 05:57 AM   #48
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You cannot say that you are buying a 20+ year old apaprtment, A&A can go very far. Think of NOMU and High Street Centre, both rotting pieces of trash converted to luxury apartments with HSC even maintaining its 99 year lease from the 1970s.

In fact, re-using old structures may sometimes be better, not only is it sustainable, the layouts are more spacious as well. Though, I must admit that this particular project is not done very well, fancy adding 4 lift shafts on the exterior just for the "private lift lobby" concept, which I find uneccessary.

FYI, Meadows tower was converted from 4 extremey large split level 3 bedders spralled over the top floor, to four 3-bedroom penthouses, and the four elusive 1 bedders on the top floor. I think the division between the 3bedroom and the 1 bedroom is where the split level is, so the 1 bedroom takes up what was previously a large living and dining room.
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Old August 6th, 2009, 06:31 PM   #49
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You have to understand that some developpers can be very dodgy esp. non-listed private companies... which means the level of disclosure is minimal. I heard of anecdotes that pre-launch sales are among insiders and business associates. The high prices are often not genuine because they offer substantial cash-back "discounts". Let's say you have a 1000 sq ft condo with list price of $1.5 million. The developper would offer cash-back discounts of, say, $300k. The transaction would be recorded at $1.5 million or $1500psf but the actual price would be $1.2million or $1200psf. The cash-back discount is paid upon completion of the sale.

This makes it easier for the buyer to get a loan. Let's say he has his 20% cash/cpf on hand, which is $240k based on $1.2million price. On top of that, he has $300k cash-back discount from the developper. So if the banks are stupid enough to accept the $1500psf valuation, he can effectively have the property without putting down any cash deposit. Let's say the bank's valuation is only $1200psf, he can still be able to complete the purchase because he has $240k cash and $300k cash-back discount.

So, it's no wonder that people are snapping $1-2 million properties like hot cakes at Breadtalk.

Foreigners and cash-rich greedy and naive Singaporeans will buy after that because they see other people buying at such lofty prices. After all, valuation is often a function of perception. If you can sell them millions of dollars of Lehman minibombs, you can definitely sell them 99-year leaseholds condo starting at $1150psf which comes with the great view of heartlanders hanging their underwear on poles outside their modest but value for money $300k hdb units. (Imagine, if you buy a 2 bedroom costing $1.2 million... your housing loan installment is approximately $3500-4500 depending on your loan duration and interest rates.)

These dodgy practices will fuel property prices and everything will turn into a big bubble before crashing like they did in the US and UK. Mahboktan and his gahmen... please take note.
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Old August 20th, 2009, 09:49 AM   #50
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Cash-back will not work. Bank loan application forms nowadays have blanks for 'Developer cash-back or discounts offered' and you need to declare.
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Old August 21st, 2009, 06:47 AM   #51
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Cash-back will not work. Bank loan application forms nowadays have blanks for 'Developer cash-back or discounts offered' and you need to declare.
who declares?
i just came from a showflat where the agent told me just keep quiet.
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Old August 21st, 2009, 07:11 AM   #52
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who declares?
i just came from a showflat where the agent told me just keep quiet.
Of course agent will tell you to declare as nothing. It is you who is declaring and he who is selling.
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Old August 21st, 2009, 11:12 AM   #53
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Of course agent will tell you to declare as nothing. It is you who is declaring and he who is selling.
i turn around and the banker who was with me turn away pretend never hear anything...
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Old August 21st, 2009, 07:55 PM   #54
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i turn around and the banker who was with me turn away pretend never hear anything...
Of course they pretend to "not hear or see anything", cos if something goes wrong, you'll be the one at risk of being charged with providing false info since you'd declared it, not the agent nor the banker who didn't see/hear...
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Old March 2nd, 2010, 07:05 AM   #55
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Anyone know or has an update to the development status of [email protected] ?
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Old May 27th, 2012, 08:02 AM   #56
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Hi, just wanna start a forum to share the defects for project: [email protected] Pierce.
Any owners here who experience poor workmanship on the parquet flooring?
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