Treasure at Tampines

chopra

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I Remember a recent example I quoted based on my colleague’s experience. He sold off his 2 bedder Kovan melody at 1.08mil (market rate) a few years back. After a good 3-4 years has passed, Kovan melody 2 bedder is still stagnated at 1.04mil. (In fact Transact at lower price based on last transaction). Ain’t this a good example?
How would his buyer feel after knowing his property price remain stagnated or becomes even lower after 3-4 years has passed?
to b fair, ura and nus ri charts indeed showed stagnation for these few yrs. so they are inline with market rate
 

ThinkCarefully

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Time for price slashing?
Would people rush in?

https://sbr.com.sg/residential-property/in-focus/secondary-property-sellers-pressured-slash-asking-prices-report
 
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chopra

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I am not disputing the fact that older condos will sell for less. Definitely, if someone buys a 20 year old condo, he has to factor in the costs for renovation.
However, if the property market as a whole is doing good, resale prices should rise as well. If only prices of new launches are rising, then it is likely that the developers are the ones who are pushing the prices up.
.
dig out some old condo trends to support ur comments; it's like when coe was 70k, 2nd car sale price also shot higher too .

samples taken below, in the same order are laguna park, lutheran tower (oldest condo??) and pandan valley
LUmn6pcl.jpg

hjuG7TVl.jpg

Yk8hMkIl.jpg
 
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Zze121

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CCR tends to lose a lot, as their pricing range in quantum is huge comparing to the lower tier or the next segment.

In OCR segment, right below them are resale EC, DBSS and HDB, these form OCR baseline, if price goes down further means those lower tier pricing most go lower, like a sandwich effects.

Thus its the HDBs that support OCR pricing, while CCR is a different league by itself.
 

NiShiZhu

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CCR tends to lose a lot, as their pricing range in quantum is huge comparing to the lower tier or the next segment.

In OCR segment, right below them are resale EC, DBSS and HDB, these form OCR baseline, if price goes down further means those lower tier pricing most go lower, like a sandwich effects.

Thus its the HDBs that support OCR pricing, while CCR is a different league by itself.

Yap agree. CCR is either make or break
 

Clazav

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I don't think there is any buyer got tricked and think that affinity is just beside serangoon mrt station just because the showflat is at serangoon Ave 1. They are not that low level. If you tell me some ppl think that 99 years starts at TOP, that I'll believe. As for the size, it is obvious too, don't think buyers can be smoke easily. The floor plan and showflat arrangement and artist impression and gimmicks like free buses, free courses are minor things developers can use to smoke buyer.

I am not disputing the fact that older condos will sell for less. Definitely, if someone buys a 20 year old condo, he has to factor in the costs for renovation.
However, if the property market as a whole is doing good, resale prices should rise as well. If only prices of new launches are rising, then it is likely that the developers are the ones who are pushing the prices up.

Another factor as I have mentioned - unit sizes. You can't expect Kovan Melody to go for $1,500psf. That would mean a 1,292sqft unit will go for close to 2m! Reason why affinity at serangoon north can move at that crazy psf pricing is because their 3 bedders are less than 1,000sqft! Just to side track.. the location of Affinity's showflat is very, very misleading. Serangoon central and serangoon north is big, big difference.

Regarding why I sold my unit, given my age, I don't need that many investment properties anymore. What's the point of leaving so much behind, better to free up the cash and spend on what I like. Recently, a similar 1,292 sqft unit went for over 1.5m, 100k more than what I sold for. Who would have expected those crazy land bids by developers?

Also, I don't have the time to wait for another decade of property boom. And I think a boom like what we have seen the past 2 decades is not going to happen anymore.
 

Clazav

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If you want to buy a resale as 2nd owner of this resale, but your neighbours are all 2nd and 3rd owners, is it worth buying? The theory of 2nd and 3rd owners have always being around. But we should not be too fixated on the absolutely position of whether 2nd, 3rd, 4th etc. In the end, just think critically if it is worth buying.

dig out some old condo trends to support ur comments; it's like when coe was 70k, 2nd car sale price also shot higher too .

samples taken below, in the same order are laguna park, lutheran tower (oldest condo??) and pandan valley
LUmn6pcl.jpg

hjuG7TVl.jpg

Yk8hMkIl.jpg
 

ThinkCarefully

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If you want to buy a resale as 2nd owner of this resale, but your neighbours are all 2nd and 3rd owners, is it worth buying? The theory of 2nd and 3rd owners have always being around. But we should not be too fixated on the absolutely position of whether 2nd, 3rd, 4th etc. In the end, just think critically if it is worth buying.

I am also unsure how this second, third and fifth owner discussion come about.
I am more inclined to use pricing comparison (do your own) to find good buys as those provided by people with vested interest tend to be skewed to tell a story they want, in other words, lead you somewhere.

Just like the side by side projects of Twin, Parc Rivera and whistler. Do your own comparison of pricing, developer reputation and facing, then draw your own conclusion.

For example, if you bought your unit at 1350 psf, another buyer bought your neighbouring unit (size, facing mostly similar) at 1500 psf, you know you likely have an edge of 150 psf over the new buyer. When market tanks and there is a need to sell, your neighbour is likely to make 150 psf more loss than you.

In an upmarket and need to sell, you are likely to make 150 psf more profit than the neighbouring buyer. This is called ‘stepping over buyers who bought at high price, thanking them for raising the price level of the market and using them as scapegoats or sxxxkers when required’ pretty nasty but the truth and gist of it.

This is a known practice in the commodity market whereby there is practically not much product differentiation from one manufacturer to another. For Property, the facing of units can be slightly different even between neighbours.
 
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chopra

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"This is a known practice in the commodity market whereby there is practically not much product differentiation from one manufacturer to another. For Property, the facing of units can be slightly different even between neighbours"

yes that is the difficulty.
the only ways are
1. look at edgeprop historical price
2. screenshot the launch prices of ALL units. then benchmark to that.
 
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Midlifecrisis

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Was looking around the condo in D16 when I was deciding where to purchase my investment unit. Considered Sunhaven due to its freehold status, the other is Changi Green, Parbury Hills, country park and the smaller condo along bedok road. At the end, settled on new development 99 Year beside Tanah Merah MRT just for 1) brand new 2) location-mrt station and shops, food. Much easier to rent out although have to pay 20 percent more.

Agree on Sunhaven and Savvanah part . I just helped my friend to view Sunhaven a few months back and he just gotten the keys to the unit. I helped him see see and kaypo the unit condition. I’m in civil hence my expertise to check defects etc.
The unit are in bad shape but he insisted on getting the unit and do a full reno on it. Unit tenanted out to single CECA for past 5 years at $1.8k.
We bargained hard but owner use the previous transaction as a benchmark. 2 bedder 990sqft last transacted at 970k. So we just up a bit by 3k, to 973k. Initial asking price was 999k.

I Guess that’s the norm for freehold prop, use previous transaction to up the price a bit. Sunhaven are quieter due to Lower number of units. As usual, my Friend Die Die wants Freehold. So Sunhaven lo. Friend is a bachelor as well.
 

NiShiZhu

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Was looking around the condo in D16 when I was deciding where to purchase my investment unit. Considered Sunhaven due to its freehold status, the other is Changi Green, Parbury Hills, country park and the smaller condo along bedok road. At the end, settled on new development 99 Year beside Tanah Merah MRT just for 1) brand new 2) location-mrt station and shops, food. Much easier to rent out although have to pay 20 percent more.

Grandeur park or the glades?
Yap, I like that area
 

Broadwalk

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With people like Kelvin Fong around, the government is going to implement more cooling measures. LOL :s13:

There are many people like Kelvin Fong now and they are spamming my fakebook advertisment pages. :o All promise secret formulae to success. :o
 

ThinkCarefully

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