Heard very few bought Garden Residences and Affinity

[1993newbie]

Fully agree with you on the upcoming Treasure @ Tampines. A new slip road for residents to enter Expressway. Making it easier for future residents around there.

Treasure will be good for own stay but not for investment wise. The so call one bedder is actually a studio unit priced from 598k. Which considered quite pricey for studio. Even the so call 1+S is a studio unit with a small space at the window to put a study table and they market it as 1+ Study.

A resale proper one bedder could be bought elsewhere at a much lower price. Saw the site plan,quite a number of units even the big units are facing the expressway

Interesting discussion. Especially about Affinity. After the Cross-Island line was announced, with the new station going to be about 4 minutes walk away, suddenly the sales just shot up like crazy. Apparently sold like over 100 units within less than a month. Even though the station won't be ready for another 10 years!

But Florence Residences didn't do that well. Something like 60 units at the launch. Perhaps they priced too high, thinking that since Affinity sold so many because of the new MRT line, maybe they could latch on that for Hougang station too. Mistake. Hougang station is further to walk to than Affinity to the Serangoon North station. It will benefit the new Parkwood Collection cluster house launch more, because the new station footprint will be nearer than the existing station. Going to launch this month, so we'll see how it works out. But Parkwood Collection won't be cheap either. Going to be over 3+ million each for the semi-detached ones. And it's 99 year leasehold too.

But the cheapest one of the lot has to be Treasure at Tampines. Sim Lian is really targeting to sell, they are indicating from $1,2xx PSF. My take is that it's good for own stay, but at 2200 units, maybe not so much for investment.

 

[Brown24]

I visited the Florence showflat on monday, wanted to see how agents are being trained to sell in current market, but to my disappointment no improvement at all, kept telling me price will go up, developer wont drop price, etc...i don't bother to talk just keep smiling....
Lets look at some example how The G condo & A condo dropped their price....

G condo:
#10-04 $750.5k (Feb'19) Dropped $69k
#09-14 $819.1k (Jun'18)

#07-24 $1.082M (Oct'18) Dropped $43k
#06-24 $1.039M (Feb'19)

A condo
#05-27 $909k (Feb'19) Dropped $41k
#04-27 $950k (Jun'18)

#10-09 $712k (Dec'18) Dropped $34k
#09-09 $746k (Jul'18)

 

[PostCountWarrior[+1]]

i heard they up the incentive for agents now. lol rather pay agents more than give discount...

 

[Brown24]

i heard they up the incentive for agents now. lol rather pay agents more than give discount...

Because give discount will spoilt their reputation and first day customer will be unhappy....
But eventually they will give in 1 when they desperate

 

[Clazav]

I would think big project with 2200 units is better for investment. Exactly due to its large number, the price can be lower and the maintenance fee is low. For own stay, price can be a bit higher as long as you like the place.

As for the good sale of affinity, you can see that ppl just chiong to get near the mrt Station. In fact, the location of serangoon North mrt Station is more or less expected. But CRL line station isn't going to be a line with high potential comparatively. The hougang mrt interchange has more potential. So Florence residences, though slightly further to hougang mrt Station, is also a good buy.

Interesting discussion. Especially about Affinity. After the Cross-Island line was announced, with the new station going to be about 4 minutes walk away, suddenly the sales just shot up like crazy. Apparently sold like over 100 units within less than a month. Even though the station won't be ready for another 10 years!

But Florence Residences didn't do that well. Something like 60 units at the launch. Perhaps they priced too high, thinking that since Affinity sold so many because of the new MRT line, maybe they could latch on that for Hougang station too. Mistake. Hougang station is further to walk to than Affinity to the Serangoon North station. It will benefit the new Parkwood Collection cluster house launch more, because the new station footprint will be nearer than the existing station. Going to launch this month, so we'll see how it works out. But Parkwood Collection won't be cheap either. Going to be over 3+ million each for the semi-detached ones. And it's 99 year leasehold too.

But the cheapest one of the lot has to be Treasure at Tampines. Sim Lian is really targeting to sell, they are indicating from $1,2xx PSF. My take is that it's good for own stay, but at 2200 units, maybe not so much for investment.

 

[annetyu]

I visited the Florence showflat on monday, wanted to see how agents are being trained to sell in current market, but to my disappointment no improvement at all, kept telling me price will go up, developer wont drop price, etc...i don't bother to talk just keep smiling....
Lets look at some example how The G condo & A condo dropped their price....

G condo:
#10-04 $750.5k (Feb'19) Dropped $69k
#09-14 $819.1k (Jun'18)

#07-24 $1.082M (Oct'18) Dropped $43k
#06-24 $1.039M (Feb'19)

A condo
#05-27 $909k (Feb'19) Dropped $41k
#04-27 $950k (Jun'18)

#10-09 $712k (Dec'18) Dropped $34k
#09-09 $746k (Jul'18)

Haha yes. Agents told me the same BS when I visited Garden residence showflat last year. Now prices have fallen. I wonder how the agents are going to face the buyers who bought at the high price.

 

[Clazav]

Haha mrt Station location announced, then lower price. Weird logic.

Haha yes. Agents told me the same BS when I visited Garden residence showflat last year. Now prices have fallen. I wonder how the agents are going to face the buyers who bought at the high price.

 

[annetyu]

Haha mrt Station location announced, then lower price. Weird logic.

I think they reduced the prices before mrt was announced. But even the mrt is not helping garden much, 19 units sold in the past 2 months. Average price is $1500psf compared to $1660psf last year. If they raise prices, you can imagine what sales will be like.

 

[Clazav]

Garden residences poor sale is easily understood. That is its poor floor plan. I went there I faint. They think we really moving toward Hong Kong route. That is impossible. If SG really going the HK route, then HDB must be the one to become smaller first. The factor with utmost importance of all property is size.

I think they reduced the prices before mrt was announced. But even the mrt is not helping garden much, 19 units sold in the past 2 months. Average price is $1500psf compared to $1660psf last year. If they raise prices, you can imagine what sales will be like.

 

[simonghl]

Haha yes. Agents told me the same BS when I visited Garden residence showflat last year. Now prices have fallen. I wonder how the agents are going to face the buyers who bought at the high price.

Given all the factors it's clearly a buyer's market now. Buyers especially investors are cautious and will take their time to look around with so many current and upcoming projects as they will expect developers to give further discounts.

After the very bad launch sales of Florence Residences, Sim Lian probably will be not too optimistic about Treasures at Tampines even at an indicative price of $12XX psf. A similar result will be really bad for a 2000+ units mega project. Even if they managed to sell 30% which will be considered good under current circumstances they will still have more than 1,500 units on their inventory~

If the cheque collection numbers are not good then probably they will do an immediate reduction at launch to get a better conversion rate so as not to be in the same situation as Gardens. Anyway, it's expected that they will only "release a number of units" for a Phase 1 launch to look better on the numbers and paper~

 

[weng]

i see the treasure's site plan i scareded man... those 1000, 1400 unit ones can stand one side lol...

 

[annetyu]

i see the treasure's site plan i scareded man... those 1000, 1400 unit ones can stand one side lol...

Looks really scary indeed. And only 1 tennis court for over 2000 units. I thought Florence residence looks bad enough. No matter how cheap, I'm not buying it. The worst of the worst mass market condo.

 

[Forever84]

The treasures floor plan looks crazy. Study at the corridor???

I think there are still buyers out there but people are more rational now and know a bad product when they see one

 

[Clazav]

I feel treasure at tampines should sell much better than Florence. While there are new projects in tampines all these while, it has always being on 5he extreme West Side. Treasure at tampines is considered near the heart of tampines, and I think tampines upgraders will jump in, if the price is really 12xxpsf.

Given all the factors it's clearly a buyer's market now. Buyers especially investors are cautious and will take their time to look around with so many current and upcoming projects as they will expect developers to give further discounts.

After the very bad launch sales of Florence Residences, Sim Lian probably will be not too optimistic about Treasures at Tampines even at an indicative price of $12XX psf. A similar result will be really bad for a 2000+ units mega project. Even if they managed to sell 30% which will be considered good under current circumstances they will still have more than 1,500 units on their inventory~

If the cheque collection numbers are not good then probably they will do an immediate reduction at launch to get a better conversion rate so as not to be in the same situation as Gardens. Anyway, it's expected that they will only "release a number of units" for a Phase 1 launch to look better on the numbers and paper~

 

[Forestraintree]

Will be doing viewing for Austville, Riversails and Riversound next few weeks. Psf still reasonable. Esparina is exp! Any advice what to look out for?
Got one from a friend told me to take note which one easier to exit to TPEKPE. Heard it's road chaos in the morning.

 

[bojangle]

Will be doing viewing for Austville, Riversails and Riversound next few weeks. Psf still reasonable. Esparina is exp! Any advice what to look out for?
Got one from a friend told me to take note which one easier to exit to TPEKPE. Heard it's road chaos in the morning.

previously was quite bad, but now with a new slip road from punggol central think may ease up a little.

for Austville, Esparina are in the middle of SK, to get into KPE during morning rush..i would say good luck!

 

[kiatme]

Will be doing viewing for Austville, Riversails and Riversound next few weeks. Psf still reasonable. Esparina is exp! Any advice what to look out for?
Got one from a friend told me to take note which one easier to exit to TPEKPE. Heard it's road chaos in the morning.

look out for the layouts / facing (west sun).
just download the floor plans and study them, some of them are not very efficient.
Traffic wise, roughly the same since all 3 are in the same area.

Depending on your budget / preference, you can also try some further away, like Minton, older but location wise its better IMO, not sure if it will affect your kids school selection or not.

 

[simonghl]

Looks really scary indeed. And only 1 tennis court for over 2000 units. I thought Florence residence looks bad enough. No matter how cheap, I'm not buying it. The worst of the worst mass market condo.

Yes, I think maybe hard to even book during office hours. The project is super packed as there are 11 pools of various sizes which all seems small to me. Very messy all over~

 

[kiatme]

I feel treasure at tampines should sell much better than Florence. While there are new projects in tampines all these while, it has always being on 5he extreme West Side. Treasure at tampines is considered near the heart of tampines, and I think tampines upgraders will jump in, if the price is really 12xxpsf.

Location wise, treasure is good.
No condos around the vicinity, near to wet market, plenty of neighbourhood primary schools around, 10-15mins walk to tamps mrt.
I used to stay @ tamps st22 when i was young, always walk to tamp/simei MRT. Interest wise i feel is there, some of my old neighbours and friends told me that they will view the project just to see how is it like, but i believe actual interest for the project is low.

The layout for the unit is so weird !! and a lot of older folks can't get over the fact that the HUDC when sold last time was 100k, now its selling for more than 10 times the price, not to mention the residents tried to stop the sales after they heard eunos mansion was sold at a higher price (doubt the residents will return to buy any units lol)

 

[henrylbh]

Will be doing viewing for Austville, Riversails and Riversound next few weeks. Psf still reasonable. Esparina is exp! Any advice what to look out for?
Got one from a friend told me to take note which one easier to exit to TPEKPE. Heard it's road chaos in the morning.

All three are nearest entry to KPE but isolated location. KPE, like all other expressway is always jam.

I chose Esp over Austville at the launch