D11 | Soleil @ Sinaran (36 x2 floors)

[Sharkie]

Originally Posted by SpinY

anyone know how the sales went today during soft launch and launch of the showflat??

according to the chart, 76 units left. ard half of them are loft units and stk 14(2 bedder). 3 bedders sold out. 4 bedder left 1 on stk 5 and 1 on stk 10.

cheers

sharkie

[landlubber]

Originally Posted by RafflesCity

If I'm not wrong, I read that the whole area where Novena Square and environs is used to be a cemetery.

Just like bishan..

[Baby]

Originally Posted by landlubber

Just like bishan..

Cemetary means good Feng Shui land - meant to ensure their later generations prosperous. So in a way rather similar to house, one built above ground to stay, one build below ground to stay.

[Baby]

Those who bought Soleil at this time are very brave or very excellent foresight.

Stock market fell like shit, Property market break record price.

The current soft launch selling price at Soileil@Novena almost match those prices at MBR@Marina Bay soft launch in Dec 06 !

[wees8]

The 10pm Channel News Asia news program reported on the sales, with average price of $1500psf.

[wees8]

The news programme reported that it is about 80% sold.

The news programme went on to give prices of nearby developments:

Appleton View $1,200 psf
Newtown One $1,300 psf

[Baby]

Originally Posted by wees8

The news programme reported that it is about 80% sold.

The news programme went on to give prices of nearby developments:

Appleton View $1,200 psf
Newtown One $1,300 psf

Sure of not ? $1300psf for Newton One ? That's the price in 2Q06 when it's sold in the soft launch. I remember Evelyn was selling at $1200-$1400psf in 1Q06.

[Baby]

Originally Posted by wees8

The news programme reported that it is about 80% sold.

The news programme went on to give prices of nearby developments:

Appleton View $1,200 psf
Newtown One $1,300 psf

Sure or not ? $1300psf for Newton One ? That's the price in 1Q-2Q06 when it's sold in the soft launch. I remember Evelyn was selling at $1200-$1400psf in 1Q-2Q06.

[wees8]

Originally Posted by Baby

Sure or not ? $1300psf for Newton One ? That's the price in 1Q-2Q06 when it's sold in the soft launch. I remember Evelyn was selling at $1200-$1400psf in 1Q-2Q06.

I don't know. Just reporting when I heard. The news article has been just published:

This story was printed from channelnewsasia.com

Title : Soleil@Sinaran sets new benchmark for District 11
By :
Date : 16 August 2007 2219 hrs (SST)
URL : http://www.channelnewsasia.com/stori...294408/1/.html

SINGAPORE : The soft launch of property development "Soleil@Sinaran" on Thursday has set a new benchmark for the District 11 area.

About 80% of the more than 400-unit condominium, developed by Frasers Centerpoint Homes, has been sold.

Many prospective home buyers seem to be comfortable with the going rate of $1,500 per square foot.

That means a two-bedroom unit costs about S$1.5 million, while a three-bedroom or four-bedroom unit sells for between $2 million and $2.5 million - making it the most expensive condominium sold to date for the District 11 area.

"For the time being, it really is. But there are a lot of other developments around this area. Newton is becoming a very choice location now, a good alternative to Orchard Road," says Cheang Kok Kheong, Chief Operating Officer of Frasers Centerpoint Homes.

Some home buyers appear to agree.

"I think the location is good... For investors, the rental is also good in future," said one prospective home buyer.

Prices of other condominiums in the Newton-Novena area average about $1,200 psf.

Soleil@Sinaran's neighbouring freehold condominium Appleton View is going for $1,200 psf in the resale market.

Down the road, Newton One averaged about $1,300 psf just last month.

Soleil@Sinaran's new price tag suggests the property market is not about to cool off anytime soon.

"It's definitely a benchmark, we've not seen prices like that for a 99-year leasehold properties in that area. We saw the highest prices in 1996, and in 1998 during the financial crisis, we saw the lowest in prices. The cycle is about 13 years... Therefore the next highs would probably be around 2009, maybe 2010. But to be fair, cycles can change," said Chris Koh, director of Dennis Wee Properties.

But some analysts said what goes up must come down.

They worry that it is speculative and it's the foreign buyers that are pushing up the property prices.

So what should you do?

Koh advised home buyers to buy within their means.

Another advice - look outside of Districts 9, 10 and 11 where prices are still relatively affordable for now. - CNA /ls

[wees8]

Originally Posted by Baby

Sure or not ? $1300psf for Newton One ? That's the price in 1Q-2Q06 when it's sold in the soft launch. I remember Evelyn was selling at $1200-$1400psf in 1Q-2Q06.

I think the reporter got the facts wrong about $1300psf for Newton One. The URA website shows at least $1,500 psf for Newton One in recent transactions:

NEWTON ONE NEWTON ROAD Condominium 1,824,000 1,216 1,500 Jul-07
NEWTON ONE NEWTON ROAD Condominium 4,460,000 2,411 1,850 Jul-07
NEWTON ONE NEWTON ROAD Condominium 2,931,480 1,916 1,530 Jun-07



APLETON VIEW SINARAN DRIVE Apartment 1,300,000 1,227 1,059 Jul-07
APLETON VIEW SINARAN DRIVE Apartment 1,180,000 1,227 962 Jun-07
APLETON VIEW SINARAN DRIVE Apartment 1,115,000 1,206 925 May-07
APLETON VIEW SINARAN DRIVE Apartment 1,130,000 1,227 921 May-07
APLETON VIEW SINARAN DRIVE Apartment 975,000 1,227 795 Mar-07

[landlubber]

Originally Posted by Sharkie

according to the chart, 76 units left. ard half of them are loft units and stk 14(2 bedder). 3 bedders sold out. 4 bedder left 1 on stk 5 and 1 on stk 10.

cheers

sharkie

chart this evening - 61 units left, plus 3 penthouses. agent says the chart is not updated, and he saw option contracts with serial numbers 380+. There are 417 units altogether, which means 30 to 40 units left i.e. 90% sold...

[MacauVillager28]

Originally Posted by test

at 1500psf for soleil for leasehold property, wouldnt freehold Park Infinia across the road at similar pricing be more attractive (esp when TOPing soon which En-blocers will be targeting)

Yes, PI would be more attractive. But it hasn't yet topped so there is a discount now (ie new buyer needs to pay a lot). There was a similar discrepancy when Trillium launched (vs Rivergate, Cosmo). Likewise why I didn't buy the Sail at 1300psf .....
The closer to TOP, the higher the price as new buyers can get mortgage and move in straight away. Anyway, PI has hit over 1700psf, though official average is in the $1400+s, with much higher asking 1600-1800psf typical.

[MacauVillager28]

Originally Posted by Baby

Sure or not ? $1300psf for Newton One ? That's the price in 1Q-2Q06 when it's sold in the soft launch. I remember Evelyn was selling at $1200-$1400psf in 1Q-2Q06.

Obviously N1 and Evelyn MUCH better address/location, plus freehold. They are now close/over $2k for some units...

IMO better comparison, for 'setting new high' for soliel in its 'class' is 99-year leasehold Amaryllis Ville (tho now 1-2 years old ?). Recent deals there now also at $1300+ psf. Note word Leasehold.

[SpinY]

The writer is right in that Soleil fetched a record price for 99years leashold in the Novena area but completely wrong with his facts on the Newton area. Newton 1, PI, Newton Suites and residences at evelyn are all close to if not above $2000psf....

[shctaw]

Government try so hard to make the market transparent, but the reporter make the market blur.

[DreamX]

Hi all,

I have a choice unit at Soleil@Sinaran for sale. It’s 2-bedroom.

Kindly PM for more details.

Cheers

[landlubber]

Originally Posted by MacauVillager28

Obviously N1 and Evelyn MUCH better address/location, plus freehold. They are now close/over $2k for some units...

IMO better comparison, for 'setting new high' for soliel in its 'class' is 99-year leasehold Amaryllis Ville (tho now 1-2 years old ?). Recent deals there now also at $1300+ psf. Note word Leasehold.

i have been wondering about the premium people are willing to pay for freehold, especially freehold condos. it doesn't make sense to cough up extra today when we now know that in 20-30 years some developer will come along and buy enbloc , top up lease to 99 years and redevelop.

why pay a 'freehold premium' now when i can use that extra 20-30% to invest in something else.

[shctaw]

When to the showflat, due to stock market melt down, developer did not increase the price.

High floor at $1711 (#35-08) psf from developer while some loft is selling at $1270 (#10-11)

Go there see see look look and left without buying. I think now Cash is King.

[easy]

heard the developer raised the rates thrice yester...though not sure cos different blocks or what...

agreed with landlubber strictly no point paying for freehold..meaningless after this spate of enbloc fever which dispels any uncertainties of leasehold projects' futures...and esp with the greater spread between leasehold and freehold these days.. costly to tie oneself to higher mortgage quantum.. opportunity costs as well

[MacauVillager28]

Originally Posted by landlubber

i have been wondering about the premium people are willing to pay for freehold, especially freehold condos. it doesn't make sense to cough up extra today when we now know that in 20-30 years some developer will come along and buy enbloc , top up lease to 99 years and redevelop.

why pay a 'freehold premium' now when i can use that extra 20-30% to invest in something else.

Didn't gahmen say they are/will be increasing development charges ?? Doesn't this also include topping up lease ?? Doesn't this re-affirm the extra %% for freehold ? And will development charges increase further down the line as the gahment get's its share of the profits en-route to a population of 6m+ ???

OK, you do also need to put a value and argue if it is worth extra 20-30% for freehold. However, perception of many is still freehold holds a premium, and will be difficult to ignore except in a few exceptional develoments/cases.