Brownstone EC

[joelleong08]

Hello,

Anyone going to see the Brownstone EC showflat @ Canberra next Sat?
I think I will be going to see see look look.

Cheers.

 

[Sabeios]

Any thoughts on this EC? Don't see much mention of it here.

Sent from Sony D6503 using GAGT

 

[Jeig]

pricing is very expensive, might as well consider SkyPark residence.

 

[navarro_t]

Seems like good response

http://www.channelnewsasia.com/mobile/business/brownstone-ec-receives/1979014.html

 

[notti_me]

2000 visitors but only 300 eapp? Remb Bellewoods have over 400 eapp but sold 79 in the 1st day... Think QJ had bidded a parcel nearby, so not sure if this project going to be a hit.

 

[acetylcholine]

2000 visitors but only 300 eapp? Remb Bellewoods have over 400 eapp but sold 79 in the 1st day... Think QJ had bidded a parcel nearby, so not sure if this project going to be a hit.

Yes, the other parcel is right next to Brownstone. Attributes of both plots are about the same although QJ's plot is slightly further from the new MRT. Both projects have to be priced attractively to take into account the fact that second timers have to pay resale levy.

 

[Sabeios]

Just read on CNA, about 640 eapp received

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[wongyf14]

Anyone here submitted the E-app for this project? Any thoughts to share?

 

[Shion]

2000 visitors but only 300 eapp? Remb Bellewoods have over 400 eapp but sold 79 in the 1st day... Think QJ had bidded a parcel nearby, so not sure if this project going to be a hit.

QJ got some negative news, btw

Brownstone under CDL, right ?

 

[Mr.Canberra]

640 e-applications for The Brownstone

Long wise Sembawang's (Canberra MRT Station vicinity) ROI is very good as price quantum is lower.

Congratulations to those who are vested!

http://www.propertyguru.com.sg/prop.../102095/640-e-applications-for-the-brownstone

The Brownstone, a 638-unit executive condominium (EC) project at Canberra Drive in Sembawang, has received around 640 e-applications since its launch on 10 July, reported Channel NewsAsia.

E-applications for the project, which is being jointly developed by City Developments Limited (CDL) and TID Pte Ltd, closed on Monday, while bookings start this coming Saturday, 25 July.

Although e-applications are usually viewed as an indication of interest in a project, applicants are not obliged to purchase once sales commence. Units at The Brownstone have an indicative price of $599,000 for a two-bedroom and $1.3 million for a five-bedroom penthouse.

Meanwhile, several other EC projects are expected to enter the market this month. E-applications for Sol Acres at Choa Chu Kang is currently in progress, while the 517-unit The Vales, located at Anchorvale Crescent, already opened for sales last Saturday.

 

[Jameslim1980]

Anyone here submitted the E-app for this project? Any thoughts to share?

I have submitted an eapp too. Unit layout is quite good for 2 bedder. We like the small details such as the window in the kitchen and toilets and choice of 2 design themes.

The Cons is this EC is very near the MRT tracks. We went up to a nearby HDB block beside the tracks and found the noise to be very significant. So if we are buying this, will choose the blocks furthest away from the tracks. If choosing a unit nearer to the tracks, would go for a low floor unit so that some noise could be blocked by the carpark.

 

[wongyf14]

Yes, we are also aware about the mrt noise. As the noise will travel upwards, so you are right to choose low floor, and actually low floor will have a better pool view.

We are looking at bigger unit - 4Br, but still struggling between big or small balcony. We prefer big balcony but it seems impossible to install invisible grill, scare later my kid will climb over the railings

 

[acetylcholine]

Anyone seen the price list? Heard from my agent that the prices are not competitive at all. Given that the application rate was only 1 is to 1, I believe sales will be quite slow.

 

[Shion]

Yes, we are also aware about the mrt noise. As the noise will travel upwards, so you are right to choose low floor, and actually low floor will have a better pool view.

We are looking at bigger unit - 4Br, but still struggling between big or small balcony. We prefer big balcony but it seems impossible to install invisible grill, scare later my kid will climb over the railings

If the living room is bigger due to a smaller balcony, then maybe a smaller one better

 

[kelvinangsw]

Pricing is on the high side, averaging around $830 per sq ft. But it is still worth a look as a few owner of Private condo eight Courtyard on the other side of the Canberra MRT is trying to sell at around $1000 per sq ft. Furthermore, eight courtyard is further away from the MRT around 400-500m and its location is out of no where. So I think Brownstone will be priced around that price after 5 years when it can be sold to PR.

In the long run after 10 years, my opinion is that Brownstone pricing will increase another 10-20% after it becomes private when all its surrounding land start to develop into township. Anyway, SSC is right behind Brownstone so can buy thing from Giant. Nautical and One Canberra also right behind. These PCs help to push Brownstone price up further.

Quality wise, I guess EC may not be as good as PC. So better go for more established developer like CDL who has a reputation to protect.

Overall, I think Brownstone is still worth to consider.

 

[SKWSMC]

Pricing is on the high side, averaging around $830 per sq ft. But it is still worth a look as a few owner of Private condo eight Courtyard on the other side of the Canberra MRT is trying to sell at around $1000 per sq ft. Furthermore, eight courtyard is further away from the MRT around 400-500m and its location is out of no where. So I think Brownstone will be priced around that price after 5 years when it can be sold to PR.

In the long run after 10 years, my opinion is that Brownstone pricing will increase another 10-20% after it becomes private when all its surrounding land start to develop into township. Anyway, SSC is right behind Brownstone so can buy thing from Giant. Nautical and One Canberra also right behind. These PCs help to push Brownstone price up further.

Quality wise, I guess EC may not be as good as PC. So better go for more established developer like CDL who has a reputation to protect.

Overall, I think Brownstone is still worth to consider.

In such a market condition, CDL pricing is a bit too high. Let see how the units will move given the fact that there is another EC coming up.
You cannot complete Eight Courtyard cause it is ready to move in.

 

[kelvinangsw]

I have been to the showroom. The sale for the first day is around 30% sold. I want to get a unit too but must see if I can get the loan.

Accordingly to the agent, the sale is expected to be slow as the pricing is on the high side. 640 e apps only ~200 turns up. Many e applicant did not turn up after the price is released as they could not take loan due to the higher pricing. Many also rejected as their e apps is later rejected by CDL due to their high salary cap > $13000. There are high level of interest from the higher earners but they could not buy due to the salary cap. They are waiting for gov to lift the salary cap to $14k or 15k to come in in August/Sept.

So my agent advises me if want to get good unit, must do it before the salary cap is lifted...

 

[SKWSMC]

I have been to the showroom. The sale for the first day is around 30% sold. I want to get a unit too but must see if I can get the loan.

Accordingly to the agent, the sale is expected to be slow as the pricing is on the high side. 640 e apps only ~200 turns up. Many e applicant did not turn up after the price is released as they could not take loan due to the higher pricing. Many also rejected as their e apps is later rejected by CDL due to their high salary cap > $13000. There are high level of interest from the higher earners but they could not buy due to the salary cap. They are waiting for gov to lift the salary cap to $14k or 15k to come in in August/Sept.

So my agent advises me if want to get good unit, must do it before the salary cap is lifted...

As explained before by others rising of the income ceiling will work both ways. Anyway there are always applicant trying to appeal for many reason so it is not unique to Brownstone. Don't listen too much to the agent. I can also say interest rate going to go up soon, many people might not be about to take the increase and start letting go the PC or EC at a low price.

Property market is going down that is a fact so no hurry. Many banks expect the property price to go down further.

 

[kelvinangsw]

Yes, I agree with you. Property price will continue to go down steadily but EC with such a location (200m from MRT) is likely to differentiate from the other EC. Based on the price the developer bids ($350 per sq ft) which is rather high, it is unlikely the price will go down further as the profit margin for an EC is low.

In fact, the price is likely going to go up when the salary cap is raised. Government is unlikely going to sell any more land near to MRT to become EC based on the subsequent lands being released. Some developer actually get the land at $270 per sq ft. Therefore, I agree that EC price will go down.

But Brownstone still holds its attractiveness as it may be the last 2 ECs at such a close distance to MRT....So I am still very interested

 

[at0754]

Balcony (No Privacy)

If you are there, take a closer look at the model. You will find that the balcony is built in the manner of smaller balcony is covering over the big one. Just imagine, both can either look up or look down when you are relaxing on the balcony, no privacy at all. Worst still, can climb up and down with a ladder.

Even the separation wall with a cut edge between neighbours on the same level, there is no privacy as well.