Forett

[Passerboy]

Think Daintree picks up its sales in the last few months only.
Week to week sales Daintree still win Forett right?

I think Forett won Daintree.
7 v 5 for last week I think

 

[xirodspace]

Forett sales seems to be doing well.

212 units sold till date (two weeks aft launch week 190 units sold then) vs Daintree 245 units sold aft two years.

So forett is 33% sold while Daintree is 75% sold (2yrs) Seems like a solid performance for both. Forett needed to sell at least [20%?] before the developer can justify the valuation / LTV to the Banks and can avail the Bank loans to start construction. So seems like market is receptive to 19xx - 20xx valuation for FH at D21

 

[Passerboy]

So forett is 33% sold while Daintree is 75% sold (2yrs) Seems like a solid performance for both. Forett needed to sell at least [20%?] before the developer can justify the valuation / LTV to the Banks and can avail the Bank loans to start construction. So seems like market is receptive to 19xx - 20xx valuation for FH at D21

Forett is only two weeks into its sales, but Verdale is also coming into the market though its 99y LH. It appears from sales volume that market seems receptive to the 19-20xxpsf valuation at D21 though. All banking on the supposed Beauty World Transformation seem similar to 5y ago that PLB transformation talk but Beauty World plans seems more firmed up for now.

 

[1993newbie]

But Beauty world transformation only one plot. And probably another one in future. Is it really a transformation? Hmmmm

All banking on the supposed Beauty World Transformation seem similar to 5y ago that PLB transformation talk but Beauty World plans seems more firmed up for now.

 

[xirodspace]

But Beauty world transformation only one plot. And probably another one in future. Is it really a transformation? Hmmmm

Aiyo why never do full homework ah...come I list some for u:

- Integrated Transport Hub
- Mixed Residential/commercial development
- Bukit Timah integrated community facility building
- Elevated SkyPark Green Corridor to Kallang Riverside
- Rail corridor with preservation site at Bukit Timah Fire Station
- Cross-Island II MRT line
- Upcoming rifle range nature reserve
- Revitalised jalan Jurong kechil and Holland plains residential areas
- [upgraded hawker centre?]

 

[momoksan]

Aiyo why never do full homework ah...come I list some for u:

- Integrated Transport Hub
- Mixed Residential/commercial development
- Bukit Timah integrated community facility building
- Elevated SkyPark Green Corridor to Kallang Riverside
- Rail corridor with preservation site at Bukit Timah Fire Station
- Cross-Island II MRT line
- Upcoming rifle range nature reserve
- Revitalised jalan Jurong kechil and Holland plains residential areas
- [upgraded hawker centre?]

Your point is?

 

[xirodspace]

Your point is?

Good liveability?

 

[aiyahwhatever]

Good liveability?

By when? I don’t think it’s near in the future right? Correct me if I’m wrong, I admit I haven’t gone through the full & upcoming plan but it depends on the buyer’s purpose - investment (LT/ST horizon) or own stay (stage of life)...

 

[xirodspace]

By when? I don’t think it’s near in the future right? Correct me if I’m wrong, I admit I haven’t gone through the full & upcoming plan but it depends on the buyer’s purpose - investment (LT/ST horizon) or own stay (stage of life)...

Maybe try going through it?
The new launches will be completed by 2022-24.
The enhancements are in stages starting from next year till further down for the cross-island II line.

 

[aiyahwhatever]

Maybe try going through it?
The new launches will be completed by 2022-24.
The enhancements are in stages starting from next year till further down for the cross-island II line.

It’s interesting, but brings us back to the question of the buyer’s purpose and timelines...

1) tender for Jalan Anak Bukit (https://www.ura.gov.sg/Corporate/Land-Sales/Sites-For-Tender/Jln-Anak-Bukit) - Sales Launch Date: 30 June 2020

2) Future integrated transport hub (https://landtransportguru.net/beauty-world-bus-interchange/) - details still TBC but yes the connectivity in that area via MRT has improved, ever since the Downtown line was built

3) cross island line, pardon my Wikipedia link but I’m on mobile and it’s quick and easy to read (https://en.m.wikipedia.org/wiki/Cross_Island_MRT_line)

- good to see. Even my home is getting *even* more connected! Woohoo. However, it looks like the Bukit Timah link will only be ready, at least, after 2029-31, since Bt Timah would be part of stage 2

4) rail corridor (https://www.ura.gov.sg/Corporate/Planning/Master-Plan/Urban-Transformations/Rail-Corridor), ready by 2021

- I think the green spaces are good. But actually that area already is quite lush with greenery

—

I do like that area, I think it’s liveable especially for families. I just feel that the development plan / growth story would take some time!

 

[NiShiZhu]

But Beauty world transformation only one plot. And probably another one in future. Is it really a transformation? Hmmmm

Experience buyers know this looks more like upgrading than transformation
Theres nothing wrong for those who perceive it as a “big” thing but this “big thing” is definitely not big enough for a 2kpsf++ price tag imo.
Mentioned this before, real transformation to me includes job creation, business hub, work and recreation. Not just about new mall replacing an old mall.

Whats the motivation to pay such price tag that’s priced so close to CCR projects like kopar (D9) and the M (D7)?

Short to mid term gain (if enter at this psf) is definitely tough, too many supply there, buyers spoilt with choice. Rentability and yield is also mediocre based on some Toh tuck condos ura record I had recently browsed through.

 

[1993newbie]

Most projects in D21 in 2.x% yield...

https://www.squarefoot.com.sg/market-watch/rental-yield

Short to mid term gain (if enter at this psf) is definitely tough, too many supply there, buyers spoilt with choice. Rentability and yield is also mediocre based on some Toh tuck condos ura record I had recently browsed through.

 

[NiShiZhu]

Most projects in D21 in 2.x% yield...

https://www.squarefoot.com.sg/market-watch/rental-yield

Hehe, Bro, believe it or not, I think we kinda telepathy, yesterday night I was looking at the same set of data from per sq foot and thus leading to my similar observation and comment.

Besides hillford (60yo lease with Low entry price), the rest r mainly mediocre performer.
Problem is, u dare to buy hillford?

 

[Forever84]

Experience buyers know this looks more like upgrading than transformation
Theres nothing wrong for those who perceive it as a “big” thing but this “big thing” is definitely not big enough for a 2kpsf++ price tag imo.
Mentioned this before, real transformation to me includes job creation, business hub, work and recreation. Not just about new mall replacing an old mall.

Whats the motivation to pay such price tag that’s priced so close to CCR projects like kopar (D9) and the M (D7)?

Short to mid term gain (if enter at this psf) is definitely tough, too many supply there, buyers spoilt with choice. Rentability and yield is also mediocre based on some Toh tuck condos ura record I had recently browsed through.

Aiya u ask property agent which area no transformation?

Knn Jurong transformation, Changi transformation, woodlands transformation, GSW transformation, Mandai transformation, tengah transformation, PLAB transformation, yishun transformation

Every bloody place also transformation

 

[NiShiZhu]

Aiya u ask property agent which area no transformation?

Knn Jurong transformation, Changi transformation, woodlands transformation, GSW transformation, Mandai transformation, tengah transformation, PLAB transformation, yishun transformation

Every bloody place also transformation

Hehe no doubt transformation is good. But must see price tag also.
Cannot suka suka buy just because transformation is used so conveniently and loosely by agents

 

[bujingyun82]

Even Sengkang grand selling 16-17xx in Buangkok in OCR region.. I don’t see how D21 properties located in RCR region are overpriced..

 

[NiShiZhu]

Even Sengkang grand selling 16-17xx in Buangkok in OCR region.. I don’t see how D21 properties located in RCR region are overpriced..

But did u see SKG units moving fast?
Why compare the worse against the worst?

 

[Ohw123]

Even Sengkang grand selling 16-17xx in Buangkok in OCR region.. I don’t see how D21 properties located in RCR region are overpriced..

The thing is... Beauty world is located at the brink of RCR. It is more than 2x further away from CBD compared to Queenstown and 3x further away from Orchard compared to Serangoon.

 

[1993newbie]

Caveat for SKG up till 30 Aug 2020:
266 out of 680 sold. 39%.

But did u see SKG units moving fast?
Why compare the worse against the worst?

 

[Okuhida]

Aiyo why never do full homework ah...come I list some for u:

- Integrated Transport Hub
- Mixed Residential/commercial development
- Bukit Timah integrated community facility building
- Elevated SkyPark Green Corridor to Kallang Riverside
- Rail corridor with preservation site at Bukit Timah Fire Station
- Cross-Island II MRT line
- Upcoming rifle range nature reserve
- Revitalised jalan Jurong kechil and Holland plains residential areas
- [upgraded hawker centre?]

Actually I agree with 1993newbie. Even the long list you typed out doesn’t seems like any sort of transformation if you read into it. More housing developments, hawker centre, community facility etc they are happening in almost all other districts. The rail corridor and nature reserve too span a large area across the country and is barely considered any sort of draw.

The integrated transport hub is nothing more than an additional bus interchange but do people even take buses now with so many train stations coming up? The key draw for the area is the downturn line, which brings people to downtown CBD. But it is quite a distance away so not much difference to say Bukit Panjang station (it should commands a premium over Bukit Panjang as it is 3 stations nearer to town but probably not that much imo).

I concur that the Cross Island line would be the major difference for the area. I just didn’t know that there is a station at Beauty World?