PARC ESTA - THREAD

[urbanmale2004]

I agree w u on this, 1900psf tough bah. Majority of ppl entered 15-17xxpsf which I believe it’s still decent. If one were to consider Geylang area, I would surely go for Penrose 99y LH and not those boutique FH that has low capital appreciation potential and limited facilities in the development. Penrose would be different as it’s a decent project if launch at 15xxpsf.

Penrose is in an Industrial area, just across the street, and also after the expressway. Direct competitors from SUO next door.

If real estate players sees the potential on this site, why was this site bidded at record low price with no developers even interested to bid for when during the GLS, and times was not really bad then, and yet no interested parties.

Really need to think really hard. there is a reason why they have to packed with 3br in their business model, because they know they cant fight with the prime geylang core with their FH title, which are mostly MM units.

What other upside or rejuvenation plans can they have in an area surrounded by industrial.

 

[NiShiZhu]

Depends on geylang development size, we seen healthy appreciation from the atrium Residences and guillemard edge seeing alot of profitable transactions over the years.

If its not prime, why are the geylang condo always fully sold?

No one says it’s not prime, it’s the address.
Ask yourself, what’s the likelihood a proper family would choose to stay there?
Why certain banks don’t want to loan buyers at certain lorongs?
These are the stigmas we r talking about. It’s something everyone knows.
For sure, there’s pros and cons buying a geylang condo.

Hehe, why a Geylang condo at Geylang call itself Guillemard edge when it’s address is not Guillemard?

 

[Passerboy]

Penrose is in an Industrial area, just across the street, and also after the expressway. Direct competitors from SUO next door.

If real estate players sees the potential on this site, why was this site bidded at record low price with no developers even interested to bid for when during the GLS, and times was not really bad then, and yet no interested parties.

Really need to think really hard. there is a reason why they have to packed with 3br in their business model, because they know they cant fight with the prime geylang core with their FH title, which are mostly MM units.

What other upside or rejuvenation plans can they have in an area surrounded by industrial.

I beg to differ the reason for the cautious land bid for Penrose site was cos it was right after the introduction of the CM, but let’s see it’s launch price and take up rate for comparison later. I recall that site has 3-5 bids? For info Silat Ave recorded a lone bid by UOL, doesn’t mean the site is lousy too.

 

[NiShiZhu]

I beg to differ the reason for the cautious land bid for Penrose site was cos it was right after the introduction of the CM, but let’s see it’s launch price and take up rate for comparison later. I recall that site has 3-5 bids? For info Silat Ave recorded a lone bid by UOL, doesn’t mean the site is lousy too.

Not forgetting that site was subjected to 85sqm ruling and right after CM.
Kopar also Low bid price but in the end, average still hit 2350psf.
In forum, I see almost everyone talking about penrose (though I don’t fancy that location as much due to proximity to industrial area). Did we even talk about any boutique condos at geylang? Hmm...I hardly remember.

 

[Passerboy]

Not forgetting that site was subjected to 85sqm ruling and right after CM.
Kopar also Low bid price but in the end, average still hit 2350psf.
In forum, I see almost everyone talking about penrose (though I don’t fancy that location as much due to proximity to industrial area). Did we even talk about any boutique condos at geylang? Hmm...I hardly remember.

View point from the expert here

 

[NiShiZhu]

View point from the expert here

Hehe expert your head la.
Really don’t fancy penrose location coz it’s a fact it’s near industrial area mah.
Drove there see see look look so many times already. Still no feeling leh. Lol
Haha why hide my feeling.
But it’s still a fact everyone is talking about penrose.
Including me who don’t fancy that area that much.

 

[NiShiZhu]

Penrose is in an Industrial area, just across the street, and also after the expressway. Direct competitors from SUO next door.

If real estate players sees the potential on this site, why was this site bidded at record low price with no developers even interested to bid for when during the GLS, and times was not really bad then, and yet no interested parties.

Really need to think really hard. there is a reason why they have to packed with 3br in their business model, because they know they cant fight with the prime geylang core with their FH title, which are mostly MM units.

What other upside or rejuvenation plans can they have in an area surrounded by industrial.

Hehe many real estate players/Developers can make mistakes too.
Look at how they acquire the land and pay for the price for SKG, G&L, midwood, beauty world, WR, gardens.... and many more.
now they are thinking hard how to offload all their unsold inventory Everyday.

 

[Clazav]

Penrose probably sells at 16xx to 17xxpsf. Don't see why they have to sell lower than 1600psf just because the bidded price is low. They will tag with SUO resales and SKG new launch price. As it is subjected to average min 85sqm, agents will tell the potential buyers that developer doesn't earn much because of lesser units to sell. And then they will say PE is also selling at 16xx-17xxpsf and further from the town.

Not forgetting that site was subjected to 85sqm ruling and right after CM.
Kopar also Low bid price but in the end, average still hit 2350psf.
In forum, I see almost everyone talking about penrose (though I don’t fancy that location as much due to proximity to industrial area). Did we even talk about any boutique condos at geylang? Hmm...I hardly remember.

 

[NiShiZhu]

Penrose probably sells at 16xx to 17xxpsf. Don't see why they have to sell lower than 1600psf just because the bidded price is low. They will tag with SUO resales and SKG new launch price. As it is subjected to average min 85sqm, agents will tell the potential buyers that developer doesn't earn much because of lesser units to sell. And then they will say PE is also selling at 16xx-17xxpsf and further from the town.

Hehe, it’s everyone’s speculation game because SUO will clearly be used as benchmark reference. Seller also wants to maximise profit mah.
I also think there will be quite a lot who will be interested in penrose but I won’t pay more than 1600psf for that location.

 

[Passerboy]

https://www.99.co/blog/singapore/new-launch-condos-covid-19/

For sharing, Parc Esta is amongst the Top 5 sold during **.

 

[holasingapura]

I beg to differ the reason for the cautious land bid for Penrose site was cos it was right after the introduction of the CM, but let’s see it’s launch price and take up rate for comparison later. I recall that site has 3-5 bids? For info Silat Ave recorded a lone bid by UOL, doesn’t mean the site is lousy too.

Similarly, the fierce rounds bidding over 2016-2018 does not mean the sites are great too. If only developers had a cool head back then, everyone will be in a better shape now.

Anyhow, I think the main reason why many overpriced units can move is because of the thousands of enbloc millionaires that benefited from those insane developers' bids. We should not forget this group of people. They are a huge reason why the market can move at such prices. I am sure at least 100 units of your favourite Parc esta is purchased by this group of people.

 

[urbanmale2004]

Hehe expert your head la.
Really don’t fancy penrose location coz it’s a fact it’s near industrial area mah.
Drove there see see look look so many times already. Still no feeling leh. Lol
Haha why hide my feeling.
But it’s still a fact everyone is talking about penrose.
Including me who don’t fancy that area that much.

agree with you, i dont fancy that location being proximity to expressway and industrial area. i passed by this afternoon and i was shock to see the industrial estate opp Penrose/SUO is almost same height at SUO, ard 6-8 floors and their floor to floor is like higher than normal residential floor to floor height.

 

[Passerboy]

Similarly, the fierce rounds bidding over 2016-2018 does not mean the sites are great too. If only developers had a cool head back then, everyone will be in a better shape now.

Anyhow, I think the main reason why many overpriced units can move is because of the thousands of enbloc millionaires that benefited from those insane developers' bids. We should not forget this group of people. They are a huge reason why the market can move at such prices. I am sure at least 100 units of your favourite Parc esta is purchased by this group of people.

My current favourite became The M liao.. PE is next cos of its luxurious finishing. But yeah not all sites are equal , so well that’s why buyers needs to be discerning, it’s the same why FH/LH argument is not equal.

Funny how some compare PE w boutique FH projects in the vicinity, experts here would know to avoid boutique development. Cheers to ur monies if u listened to my advice on the reits I shared!

 

[holasingapura]

Funny how some compare PE w boutique FH projects in the vicinity, experts here would know to avoid boutique development. Cheers to ur monies if u listened to my advice on the reits I shared!

Yeah I appreciate your advice. But the reit I recommended huat more.

Anyway so much uncertainties like the property market, don't know whether to take profit or not.

 

[Ohw123]

Yeah I appreciate your advice. But the reit I recommended huat more.

Anyway so much uncertainties like the property market, don't know whether to take profit or not.

What is REITs

 

[1993newbie]

First Sub-Sale listing for PE. 1+Study unit.
https://www.propertyguru.com.sg/listing/22770959

Asking price: $998k
1st owner Purchase price: $962k
3 years SSD not over yet.

 

[sinequa88]

First Sub-Sale listing for PE. 1+Study unit.
https://www.propertyguru.com.sg/listing/22770959

Asking price: $998k
1st owner Purchase price: $962k
3 years SSD not over yet.

wonder why haha.

 

[1993newbie]

Change of mind Probably?

wonder why haha.

 

[NiShiZhu]

wonder why haha.

Every project sure have such cases.
Very common, even in good times.

 

[zinedine]

First Sub-Sale listing for PE. 1+Study unit.
https://www.propertyguru.com.sg/listing/22770959

Asking price: $998k
1st owner Purchase price: $962k
3 years SSD not over yet.

It is overpriced. Isn't it?