Forett

[NiShiZhu]

Dude from your reply it seems like u still don’t understand demand not being a static concept. We are looking forward based on current demand statistics.

And you are really still living in history, go check URA for Daintree sales at 60%

I understand u may be emotionally attached perhaps u or ur parents r vested in D21 but I cannot go against my principle and telling a lie in front of everyone here to paint a rosy picture of D21 future gain when the resale price here was depressed based on past transaction records.

Like it or not, we can agree to disagree. There’s no need to get personal or resort to name calling/labelling when 99.co has all the past transaction data for all D21 condos. I think it won’t take u too much time to have a look there.

Cheers

 

[xirodspace]

I understand u may be emotionally attached perhaps u or ur parents r vested in D21 but I cannot go against my principle and telling a lie in front of everyone here to paint a rosy picture of D21 future gain when the resale price here was depressed based on past transaction records.

Like it or not, we can agree to disagree. There’s no need to get personal or resort to name calling/labelling when 99.co has all the past transaction data for all D21 condos. I think it won’t take u too much time to have a look there.

Cheers

Dude as I said, there are cases where price depreciated but there also cases where ppl Huat on sale. Resale prices are ultimately a function of timing on when u sell against the backdrop of economic performance. What is important is looking forward based on current demand statistics and riding on demand waves to drive price appreciation

 

[NiShiZhu]

Dude as I said, there are cases where price depreciated but there also cases where ppl Huat on sale. Resale prices are ultimately a function of timing on when u sell against the backdrop of economic performance. What is important is looking forward based on current demand statistics and riding on demand waves to drive price appreciation

Just more of looking at logical side.
If today I bought forett at 19xxpsf, I will have to exit at 21xxpsf to see reasonable gain after deducting agent fee, BSD.

With a Budget of 21xxpsf, would future buyers likely to look for D21 resale condos or D9/D10 resale condos at this price? And I can find a couple of D9/D10 resale FH condos at this price. Hehe, U decide

Ok, My stand still stays, as said, can agree to disagree.

 

[dumbothecute]

But if I can lower my ccr rent to match the rcr or ocr rent. I see ccr as still having the advantage over ocr

Just met up an agent and had a Long chat with him just now.
Undeniably, he told me rental was really softening.
Most of his CCR tenants are now looking at RCR for rental and RCR tenants looking at OCR units for rental. This is congruent with what I mentioned a few days back - the downstream shift effect. A word of caution based on their observation: whether u are buying RCR or OCR, location and transport connectivity (like mrt) still matters. He had shared some projects barely has any tenants viewing the place for the whole month.

 

[Ohw123]

Just more of looking at logical side.
If today I bought forett at 19xxpsf, I will have to exit at 21xxpsf to see reasonable gain after deducting agent fee, BSD.

With a Budget of 21xxpsf, would future buyers likely to look for D21 resale condos or D9/D10 resale condos at this price? And I can find a couple of D9/D10 resale FH condos at this price. Hehe, U decide

Ok, My stand still stays, as said, can agree to disagree.

Maybe 21xx just breakeven only, need 22-23xx

 

[xirodspace]

With a Budget of 21xxpsf, would future buyers likely to look for D21 resale condos or D9/D10 resale condos at this price? And I can find a couple of D9/D10 resale FH condos at this price. Hehe, U decide

Yeah I can find D9/D10 resale condos at this price NOW. But in 5 years time? Look forward dude, look forward

 

[Ohw123]

But if I can lower my ccr rent to match the rcr or ocr rent. I see ccr as still having the advantage over ocr

But that would mean much lower rental yield leh

 

[Ohw123]

Just more of looking at logical side.
If today I bought forett at 19xxpsf, I will have to exit at 21xxpsf to see reasonable gain after deducting agent fee, BSD.

With a Budget of 21xxpsf, would future buyers likely to look for D21 resale condos or D9/D10 resale condos at this price? And I can find a couple of D9/D10 resale FH condos at this price. Hehe, U decide

Ok, My stand still stays, as said, can agree to disagree.

Which freehold new launch in D9/10 is 21xxpsf? Uncle Ni can tell me?

 

[NiShiZhu]

Yeah I can find D9/D10 resale condos at this price NOW. But in 5 years time? Look forward dude, look forward

Yes look forward...so r u also that confident forett buyers can find buyers to absorb their unit at 21xxpsf-22xxpsf?

 

[NiShiZhu]

But that would mean much lower rental yield leh

One example he use is he has a tenant who rented 1+S at duo residence for 4K. Recently the tenant decided not to continue and he choose PPR 2 bedder 1 bath at 3k. To him, equally accessible connectivity (2 mrt lines) and shopping Malls at doorstep but save 1k. Why not?

 

[NiShiZhu]

Which freehold new launch in D9/10 is 21xxpsf? Uncle Ni can tell me?

We are talking about D9/D10 FH resale bro.
Even new launch, kopar (LH) and the M has number of units at 21xxpsf-2.2kpsf and these are at much much better location than D21.
Does the FH status warrant such premium at D21? Ur call

 

[xirodspace]

Yes look forward...so r u also that confident forett buyers can find buyers to absorb their unit at 21xxpsf-22xxpsf?

Depends on the economy at that time, the enhancements to D21 etc. I can’t predict future but there will be a point in the next decade where there will be buyers at that price (comes down to holding power). And given that we both agree it is a great place for ownstay, think holding power should be quite strong.

Daintree will be a much better example assuming entry at 15xx-16xx and sale at 18xx

 

[Polar Bear King]

Yes look forward...so r u also that confident forett buyers can find buyers to absorb their unit at 21xxpsf-22xxpsf?

very confident leh
SG economy will sky rocket one
cos HK just got killed off by their mother China liao mah
all the China money will come migrate to SG de
very soon CBD hit $7k psf,CCR $5kpsf,RCR $4k,OCR$3k

but freehold or 99YL still the same no different,location reigns supreme,Forrett price i think $2200psf still acceptable...maybe 2028?

 

[NiShiZhu]

very confident leh
SG economy will sky rocket one
cos HK just got killed off by their mother China liao mah
all the China money will come migrate to SG de
very soon CBD hit $7k psf,CCR $5kpsf,RCR $4k,OCR$3k

but freehold or 99YL still the same no different,location reigns supreme,Forrett price i think $2200psf still acceptable...maybe 2028?

In investment point of view, if one is willing to get stuck for 8-9 years to see profit gain, might as well buy bto? Lol

It’s true, location still matters, not so much of FH or no FH status.

 

[Polar Bear King]

In investment point of view, if one is willing to get stuck for 8-9 years to see profit gain, might as well buy bto? Lol

that's exactly right too,who doesn't buy BTO?

 

[NPC016]

that's exactly right too,who doesn't buy BTO?

Singles, unfortunately lol. If they allow us to register for 3 room I would've done long ago. Do own business from home, so need a bit more space than the 2-rooms.

I'm actually a bit shocked at the results for Forrett because I was considering some nearby projects but decided not to after looking at rental in the area + past transactions. I know the transport hub is coming up, but is it really going to cause prices to appreciate to $2k+, esp if projects like Kismis are planning for shuttles to get to MRT?

We're in the middle of the worst recession since Independence and job losses are being announced every day, so who are these buyers? Not being sarcastic, I'm new to market so taking my time to study and trying to understand how condo buyers think.

 

[Falafell]

Interestingly 2 days ago, there was a debate whether property prices will drop by 40-50% due to COVID, and now it is a debate on whether the high property prices now will continue to appreciate. But that is also good news as Forett's strong demand will provide confidence to upcoming launches, reducing the possibility of a price drop.

I think Forett aims to be like Tre Ver vs WLR, being launched before the Jalan Anak Bukit's Mixed Development is announced, coupled with the Rail Corridor etc, hopefully capital appreciation will be present then. To people in that vicinity, I think they will see Forett as an excellent opportunity to be at the District where they are comfortable and hoping to have paper gain when the Mixed Development is hopefully launched at 2xxx psf.

On the cons, for rentability, I think the region suffers insufficient rental potential for its current oversupply of residences as what NiShiZhu previously said. Plus its location is not ideal in terms of accessibility.

However if FH is that important to you as a buyer to give you an ease of mind in the many years to come, you can always see it as a long term investment

 

[Hyruga]

Can buy the Creek @ $14xx psf and onwards.
It's freehold and it's quite new too!

 

[NiShiZhu]

Interestingly 2 days ago, there was a debate whether property prices will drop by 40-50% due to COVID, and now it is a debate on whether the high property prices now will continue to appreciate. But that is also good news as Forett's strong demand will provide confidence to upcoming launches, reducing the possibility of a price drop.

I think Forett aims to be like Tre Ver vs WLR, being launched before the Jalan Anak Bukit's Mixed Development is announced, coupled with the Rail Corridor etc, hopefully capital appreciation will be present then. To people in that vicinity, I think they will see Forett as an excellent opportunity to be at the District where they are comfortable and hoping to have paper gain when the Mixed Development is hopefully launched at 2xxx psf.

On the cons, for rentability, I think the region suffers insufficient rental potential for its current oversupply of residences as what NiShiZhu previously said. Plus its location is not ideal in terms of accessibility.

However if FH is that important to you as a buyer to give you an ease of mind in the many years to come, you can always see it as a long term investment

Two separate issues discussed here:
1) would property price drop to 40-50% in general? My take is no. This would have a lot of downstream implications for all home owners and no one is spared. It will also be a mockery to our CMs, TDSR and ABSD imposed. Remember, we are no longer in the era where property can flip 3 times within a month. Price was so volatile back then. With CMs, Marginal investors are generally wipe out, left mostly genuine home buyers or those with deep pockets. Else how come we see a few bro come to HomeSeekers forum and rant their frustration why resale sellers does not relent on lowering their asking price. Future property price are expected to pace gradually in the near future. Not expecting to see big jump or big fall.

2) is D21 a good investment proposition? My take is no coz forett entry price is too high for a D21 imo. Glad many bros here really look into past rental and sales transaction to understand the depressed price there. If demand was high, then how come in whole of 2020, not even a single unit in the creek has been sold at all? Whereas yesterday, 180-200 buyers suddenly flock to forett to pay a premium of 300-350psf for a slightly newer condo with same FH status? Don’t u think it’s a strange phenomenon? Hehe

 

[xirodspace]

Two separate issues discussed here:
1) would property price drop to 40-50% in general? My answer is no. This would have a lot of downstream implications for all home owners and no one is spared. It will also be a mockery to our CMs, TDSR and ABSD imposes. Remember, we are no longer in the era where property can flip 3 times within a month. Price was so volatile back then. With CMs, Marginal investors are generally wipe out, left mostly genuine home buyers or those with deep pockets. Else how come we see a few bro come to HomeSeekers forum and rant their frustration why resale sellers does not relent on lowering their price.

2) is D21 a good investment proposition? My take is no. Glad many bros here really look into past rental and sales transaction to understand the depressed price there. If demand was high, then how come in whole of 2020, not even a single unit in the creek has seen any sales transaction at all? Whereas suddenly all flock to forett to pay a premium of 300-350psf for a slightly newer condo with same FH status? Don’t u think it’s a strange phenomenon? Hehe

Agree on 1. Disagree on 2.
As I said, resale is a function of timing. Given good liveability in D21, buyers have holding power to wait for a more opportune time to sell. Tell me, if you are a Creek owner, will u want to sell now when there is construction going on all around u and prospective buyers smell dust when they visit? Or hold on till all the construction is done, transformations are up, enhancements are built? Those who sold in past 1-2 years probably didn’t have holding power and were thus forced to sell at depressed prices. Plus, Creek are mostly soho-styled units which may not appeal to mass market and, in a much smaller development / facilities scale etc.