Pasir Ris 8 unofficial "guide price"

[icreatearainbow]

The 2 units who bought at 2k are psf obviously emotional buyers lah. They see the gallery so packed and everything sold out yet still want to buy the horrible stacks at sky high prices. Really really unwise choice.. you’re gonna have a hard time selling in future

 

[CaptainSGP]

The 2 units who bought at 2k are psf obviously emotional buyers lah. They see the gallery so packed and everything sold out yet still want to buy the horrible stacks at sky high prices. Really really unwise choice.. you’re gonna have a hard time selling in future

I think they will forfeit . Woodleigh Residence much better buy & more efficient layout for 20xxpsf

 

[NiShiZhu]

I like what was quoted in this video 15:10 onwards. Something I had kept emphasising.
unbiased analysis with data to back up his analysis on Tampines and Pasir Ris and many other integrated dev as case studies.

except the coco palm part, he forget to mention the decaying lease is far more than PR8

 

[ThinkCarefully]

I like what was quoted in this video 15:10 onwards. Something I had kept emphasising.
unbiased analysis with data to back up his analysis on Tampines and Pasir Ris.

except the coco palm part, he forget to mention the decaying lease is far more than PR8

###

Many simple minded around.

They think if someone willing to buy PR8 at 2xxx psf from developer, many would pay 2xxx psf to buy from current owners of PR8.

They forgot the 2 rules of resale / sub sale buyers.

1. I rather profit the developer than private sellers, the gap is easily (-200 to -300 psf) when comparing what they are willing to pay.

2. Surrounding availability and. Options, if nearby I can get cheaper ( albeit older), why not?... this provides competition to set a ‘ceiling’. Even if not nearby, other development with similar attributes...

Reselling is much harder than just walking into showflat and signing a cheque.

My personal view is that because of hype during launch, buyers feel that they are competing against one another.

Whereas for a resale buyer, he feels that the whole Singapore resale condo is at his choice and the resale sellers are actually competing to win his favour... just my 2 cents.

###

 

[Passerboy]

I think we should realise that it is the outlier and not the norm, and focus on the average transacted price ($1600psf).

My guess is those who paid $2000psf may forfeit the deal too. $2000psf can buy Park Place Residences, more centrally located with better attributes and perhaps finishing too!

 

[CaptainSGP]

I like what was quoted in this video 15:10 onwards. Something I had kept emphasising.
unbiased analysis with data to back up his analysis on Tampines and Pasir Ris and many other integrated dev as case studies.

except the coco palm part, he forget to mention the decaying lease is far more than PR8

Very good points brought up ! Resale buyers will have many options to choose from, in short SUpply > Demand.

Is it always the case that a big cluster of condos which TOP within a small period of time tend to underperform ?

I didnt spend time looking into these clusters. But i can think of the following,:

Pasir Ris Cluster near MRT (PR8, Coco Palms, D'Nest Livia etc)
Hillview/Dairy Farm cluster (Midwood, Hillview Peak etc)
Tanah Merah MRT (Grandeur, Eco, Urban Vista etc)
Canberra MRT (One Canberra, WG, Visionaire, Brownstone etc)
Flora Drive Condos
Stretch of Condos along ECP (Silversea etc)
River Valley Road
Farrer Road/ Holland V (e.g. D'Leedon)
Upper Serangoon Road/Near Punggol Park (Riverfront, Waterbay etc)
Beauty World

Is there any of these condo clusters that have many condos achieving big capital gains outperformance ?

 

[isenggirlz]

I like what was quoted in this video 15:10 onwards. Something I had kept emphasising.
unbiased analysis with data to back up his analysis on Tampines and Pasir Ris and many other integrated dev as case studies.

except the coco palm part, he forget to mention the decaying lease is far more than PR8

Why would ppl sell their properties before ABSD 3yrs had passed... erhm..

 

[NiShiZhu]

###

Many simple minded around.

They think if someone willing to buy PR8 at 2xxx psf from developer, many would pay 2xxx psf to buy from current owners of PR8.

They forgot the 2 rules of resale / sub sale buyers.

1. I rather profit the developer than private sellers, the gap is easily (-200 to -300 psf) when comparing what they are willing to pay.

2. Surrounding availability and. Options, if nearby I can get cheaper ( albeit older), why not?... this provides competition to set a ‘ceiling’. Even if not nearby, other development with similar attributes...

Reselling is much harder than just walking into showflat and signing a cheque.

My personal view is that because of hype during launch, buyers feel that they are competing against one another.

Whereas for a resale buyer, he feels that the whole Singapore resale condo is at his choice and the resale sellers are actually competing to win his favour... just my 2 cents.

###

Some learning points picked up from the video
1) buying new launches is so much easier, exiting is another story.
2) dangerous to buy in an area with oversupply. There’s already case studies why north park can make money while hillion can’t. Not all integrated dev cfm bao jiak. Got to also look at the surrounding supply there. If psf too much higher than surrounding resale that’s not too far from amenities, why would I want to pay 600psf more for an int development.
3) prices for 2022 new launches is going to be higher soon. This will drive FOMO especially this year. But that does not mean one should rush in to buy during a seller’s market. He did mentioned during this current seller’s market, the risk that carries is definitely higher if one enters at this juncture.

 

[NiShiZhu]

Why would ppl sell their properties before ABSD 3yrs had passed... erhm..

Probably due to job lost during covid. Plus probably not much holding power.

 

[ThinkCarefully]

###

Also, buying new launch for investment will give very Low returns.

Take PR8 1 br, rental 1800 or let’s say 2000.

If purchase at 850k, ROI=2.8%
If purchase at 1 mil, ROI =2.4%

The larger units will be much lower than this.
Also must deduct maintenance, MCST, agent fee, time etc...

For ROI at 1 plus %, is it worth it?
Unless one thinks capital will appreciate quickly... hmm

###

 

[NiShiZhu]

I think we should realise that it is the outlier and not the norm, and focus on the average transacted price ($1600psf).

My guess is those who paid $2000psf may forfeit the deal too. $2000psf can buy Park Place Residences, more centrally located with better attributes and perhaps finishing too!

1600psf seems to be reasonable in today’s context and definitely it carries lower risk than those buying NP near 1.9kpsf. But not forgetting Pasir Ris has a huge supply of resale units surrounding it. So those bought at 16xxpsf may still see profit but qns is what is the profit margin. In here, I’m not even talking abt the siao Kia who bought at 2.1kpsf.

 

[NiShiZhu]

###

Also, buying new launch for investment will give very Low returns.

Take PR8 1 br, rental 1800 or let’s say 2000.

If purchase at 850k, ROI=2.8%
If purchase at 1 mil, ROI =2.4%

The larger units will be much lower than this.
Also must deduct maintenance, MCST, agent fee, time etc...

For ROI at 1 plus %, is it worth it?
Unless one thinks capital will appreciate quickly... hmm

###

$1800-2000 rental is a fair gauge because Watertown one bedder rental is currently about this range.
but bear in mind WT one bedder was mostly bought at 5xxk era (after deducting BSD rebate and all funny funny discounts)
For sure, rental yield will gets tougher coz PR 8 one bedder entry price is 8xxk (this is 250-300k) more than Watertown.
im comparing both because they r pretty similar integrated dev with a lot of condos in their surrounding.

 

[ThinkCarefully]

Very good points brought up ! Resale buyers will have many options to choose from, in short SUpply > Demand.

Is it always the case that a big cluster of condos which TOP within a small period of time tend to underperform ?

I didnt spend time looking into these clusters. But i can think of the following,:

Pasir Ris Cluster near MRT (PR8, Coco Palms, D'Nest Livia etc)
Hillview/Dairy Farm cluster (Midwood, Hillview Peak etc)
Tanah Merah MRT (Grandeur, Eco, Urban Vista etc)
Canberra MRT (One Canberra, WG, Visionaire, Brownstone etc)
Flora Drive Condos
Stretch of Condos along ECP (Silversea etc)
River Valley Road
Farrer Road/ Holland V (e.g. D'Leedon)
Upper Serangoon Road/Near Punggol Park (Riverfront, Waterbay etc)
Beauty World

Is there any of these condo clusters that have many condos achieving big capital gains outperformance ?

###

In this forum, there are many D21 and D23 lovers. These are areas I avoid. Hope they enter with eyes open...

One strategist has already hinted at oversupply there... some even think Upper BT is same as Bukit Timah...

Some hoping CRL will switch from KAP ( predicted) to BW...

Hope is all around


###

 

[NiShiZhu]

###

In this forum, there are many D21 and D23 lovers. These are areas I avoid. Hope they enter with eyes open...

One strategist has already hinted at oversupply there... some even think Upper BT is same as Bukit Timah...

Some hoping CRL will switch from KAP ( predicted) to BW...

Hope is all around


###

D21 is subjective, depending on entry price again. I assume those who enter daintree at 15xxpsf, forett 18xxpsf is less riskier than those who bought at linq, ki, verdale or maybe the upcoming JAB (assuming it is launching above 2.1kpsf) etc. This is after I factor in BW rejuvenation and not include CRL line.

D23 - no thanks.

 

[Passerboy]

D21 is subjective, depending on entry price again. I assume those who enter daintree at 15xxpsf, forett 18xxpsf is less riskier than those who bought at linq, ki, verdale or maybe the upcoming JAB (assuming it is launching above 2.1kpsf) etc. This is after I factor in BW rejuvenation and not include CRL line.

D23 - no thanks.

Same thoughts on this.

No news on the JAB site yet..

 

[mementomori]

###

Also, buying new launch for investment will give very Low returns.

Take PR8 1 br, rental 1800 or let’s say 2000.

If purchase at 850k, ROI=2.8%
If purchase at 1 mil, ROI =2.4%

The larger units will be much lower than this.
Also must deduct maintenance, MCST, agent fee, time etc...

For ROI at 1 plus %, is it worth it?
Unless one thinks capital will appreciate quickly... hmm

###

You have to understand that it is levered return and interest rates are super low.

 

[Passerboy]

You have to understand that it is levered return and interest rates are super low.

Interest rates are as Low as below 1% now, really great times, hopefully it can last awhile longer.

 

[arctician]

no need BT access .. just need to get FOC e-Resource from NLB to get the electronic version

https://eresources.nlb.gov.sg/main
anyways, here's the article

thanks mate, i didnt know NLB provide free BT articles, i usually only read bloomberg, not fan of SPH lol. anyway receive news forett raising price again by 2% in august after their 3% increase in june.

D21 is subjective, depending on entry price again. I assume those who enter daintree at 15xxpsf, forett 18xxpsf is less riskier than those who bought at linq, ki, verdale or maybe the upcoming JAB (assuming it is launching above 2.1kpsf) etc. This is after I factor in BW rejuvenation and not include CRL line.

D23 - no thanks.

you made the right callout, i dont apply cookie cutter or blanket statement comment when it comes to assessment of any district or project, good or no good is all dependent on price. Midwood is bad at 1.6k psf, but i wouldnt say the same if i can enter at 1.4k psf...but generally i am not interested in D23 coz i feel upside is capped as there is no transformation being earmarked unlike GSW or holland V or BW.

D21 indeed has lots of supply and there will be 3 more land sites in future for development, adding to future supply issue, but personally i rather they have more new launches because it help to lift the prices of recent new launches in area. if one can enter BW near the resale price of terrene or creek at ~$1,700 now, then i will say the margin of safety is there.

if one decide to chase JAB at $2500 psf assuming FEO won the tender, then its really their choice since its their money

 

[ThinkCarefully]

$1800-2000 rental is a fair gauge because Watertown one bedder rental is currently about this range.
but bear in mind WT one bedder was mostly bought at 5xxk era (after deducting BSD rebate and all funny funny discounts)
For sure, rental yield will gets tougher coz PR 8 one bedder entry price is 8xxk (this is 250-300k) more than Watertown.
im comparing both because they r pretty similar integrated dev with a lot of condos in their surrounding.

####

that’s why rental play is now about half or 70% what it used to be...

Most are still used to the 5xx rental 2k and now need to adjust to 8xxk to 1 mil rental 2k

###

 

[Yunita19]

Updates: out of 418 transacted shown, below are the only few units transacted at > 1795 pfs. Average price of PR8 is around 1615 pfs roughly only.

Date	Unit	SQFT	PFS	Amount
26-Jul-21​	16 PASIR RIS DRIVE 8 #06-46​	1,055​	1,820​	1,920,000​
24-Jul-21​	18 PASIR RIS DRIVE 8 #05-50​	1,023​	1,850​	1,892,000​
24-Jul-21​	20 PASIR RIS DRIVE 8 #09-65​	721​	2,084​	1,503,000​
24-Jul-21​	20 PASIR RIS DRIVE 8 #08-65​	721​	2,084​	1,503,000​
24-Jul-21​	20 PASIR RIS DRIVE 8 #10-65​	721​	1,815​	1,309,000​
24-Jul-21​	10 PASIR RIS DRIVE 8 #04-16​	1,066​	1,797​	1,915,000​