Reef at King's Dock

NiShiZhu

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By the time GSW finally materialised, I wonder how old most of the forumer will be. Zzzz....
Given most of the bros here should be betw 30s-40s
 
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zaclee

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Yeah GSW will be long.. some bros probably can flip a few of rounds in the meantime. ;):LOL:
 

bluejag

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Agree that GSW will take a minimum of 10years for anything tangible.

But for reef itself, the attraction is not so much GSW but living directly at the waterfront - which has limited supply in Singapore (and everywhere really).
 

1993newbie

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Saw one bored pile machine on site. Piling works starting soon I reckon!
 
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ThinkCarefully

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Totally agreed. In order for GSW to sustain, a critical mass of population is needed on the west coast area, which is probably why the govt is trying inject significant amount of HDBs in that area with a new type of HDB model. To shift the port, build key infrastructure, build up a critical population mass, how many phases will that take? Even the Kampong Bugis white site is going to be launched in phases spanning 11-13 years (URA 1H2021 gls states it), how many years would a much larger GSW take? Buying a LH on a GSW hype might not be a good move as lease decay might kick in by the time GSW is in full swing. And even so, would there have been much better opportunities to ride on?

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Quite true. By then must sell gsw enbloc story...

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TouringSG

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I feel GSW a little overhyped. By the time, the port moves and new developments start coming up, wouldn’t it be 20-30 years later? This pandemic may have delayed the timeline further… And even if you are first in the GSW area, you have to tolerate large scale construction and road works all around you for 10-20 years at least?
Reef only has one tiny plot of empty commercial land on the waterfront across the service road. Judging by the distance, only selected few stacks along the service road will be affected by construction for a short couple years.

To the remaining GSW properties yet to be built on Keppel Club and ports (and golf course facing Reflections units), yes they will be constantly affected by the constructions.
 

TouringSG

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Agree that GSW will take a minimum of 10years for anything tangible.

But for reef itself, the attraction is not so much GSW but living directly at the waterfront - which has limited supply in Singapore (and everywhere really).
Agree, reef is a lifestyle product. I personally think the main catalyst for growth in psf would be due to the desirability to stay at reef, rather than being dependent on GSW for upside.

With that said, here's another perspective of GSW. Instead of seeing it as 1x transformation project with 1x upside, I personally see it as 10x transformations projects packaged into one grand plan with 10 stages of upsides to look forward to. We don't need the entire plan to materialize completely to start seeing upside.

On the other hand, other regional transformation projects only have 1x transformation planned. When it's completed, there's no further upside left to look forward to.
 
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TouringSG

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20210509-193956.jpg


Did someone just started the ball rolling? :)
 

TouringSG

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how to see the pic, nothing show up. subsale?
You can't see pic? Try browsing 99.co Tower View for reef, stack 51 3rd floor. It's 6% above launch price, doubt is subsale (12% ssd)?

Wah.. one of the better units near waterfront. If so, stack 50 also all Huat liao.
Resale? Or bounce unit found new buyer?
Ya, it's a good start. Should be bounced, that stack was fully snapped up during VVIP (Jan/Feb) but that transaction is in March.
 

arctician

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You can't see pic? Try browsing 99.co Tower View for reef, stack 51 3rd floor. It's 6% above launch price, doubt is subsale (12% ssd)?


Ya, it's a good start. Should be bounced, that stack was fully snapped up during VVIP (Jan/Feb) but that transaction is in March.
I can see on mobile. Its a new sale, checked ura caveat and there are no subsale yet. Buyers huat man, less than 3 mths valuation gained $100k liao for waterfront units.

If the original buyer activated on otp in jan now $100k richer, wonder why didnt execute. Some of the waterfront units you cant even get during vvip, i heard the agents just rushed to buy onsite during vvip, alot didnt get their choice units then settled for clubhouse view
 

daheigou999

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I can see on mobile. Its a new sale, checked ura caveat and there are no subsale yet. Buyers huat man, less than 3 mths valuation gained $100k liao for waterfront units.

If the original buyer activated on otp in jan now $100k richer, wonder why didnt execute. Some of the waterfront units you cant even get during vvip, i heard the agents just rushed to buy onsite during vvip, alot didnt get their choice units then settled for clubhouse view

Maybe he saw Eric's videos and chickened out. Paper hands :s13: :s13:
 

TouringSG

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I can see on mobile. Its a new sale, checked ura caveat and there are no subsale yet. Buyers huat man, less than 3 mths valuation gained $100k liao for waterfront units.

If the original buyer activated on otp in jan now $100k richer, wonder why didnt execute. Some of the waterfront units you cant even get during vvip, i heard the agents just rushed to buy onsite during vvip, alot didnt get their choice units then settled for clubhouse view
Ya, almost all waterfront units (Blk 20) were unavailable already before VVIP.

If original buyer bounced, is it logged as subsale in ura? Does it mean the original buyer didn't execute in this case?
 

arctician

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Ya, almost all waterfront units (Blk 20) were unavailable already before VVIP.

If original buyer bounced, is it logged as subsale in ura? Does it mean the original buyer didn't execute in this case?
No if bounced its still new sale. Usually need to ballot and developer will sell at higher price if takeup rate for project is good. Original buyer forgo the option and lost deposit ard 1.25% of purchase price which was around $20k+

I heard they open up to employees first before they launch the vvip, they already chopped the best units before vvip preview

Looks like eric is wrong lol. Waterfront units to me worth at least $3k psf in current market..somemore reef water view is right at doorstep

Hopefully it can correct before TOP
 

TouringSG

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No if bounced its still new sale. Usually need to ballot and developer will sell at higher price if takeup rate for project is good. Original buyer forgo the option and lost deposit ard 1.25% of purchase price which was around $20k+

I heard they open up to employees first before they launch the vvip, they already chopped the best units before vvip preview

Looks like eric is wrong lol. Waterfront units to me worth at least $3k psf in current market..somemore reef water view is right at doorstep

Hopefully it can correct before TOP
Oh.. cool! Ytreprop shows it's bounced, so the new price is set by developer? :geek:

Screenshot-20210510-100511-Chrome.jpg


I am not a fan of Eric's video. Is he in HWZ?
 
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arctician

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Oh.. cool! Ytreprop shows it's bounced, so the new price is set by developer? :geek:

Screenshot-20210510-100511-Chrome.jpg


I am not a fan of Eric's video. Is he in HWZ?
yea usually for bounced out unit they will increase price plus do balloting, all the more in such climate where market going up and up.

No idea never been interested in his video, i only like videos thats are analytical with facts and data, like ku swee yong analysis is good. the latest 30min+ one by this guy is good too, when one invest in property one must be able to apply critical thinking and not have herd mentality

 

zaclee

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... when one invest in property one must be able to apply critical thinking and not have herd mentality

Agree. Unfortunately many people rush into hyped/heavily marketed projects and get blinded by headline “low starting from xxx” for fear of missing out, end up paying far higher just to secure a unit.
 

scanner007

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Looks like eric is wrong lol. Waterfront units to me worth at least $3k psf in current market..somemore reef water view is right at doorstep

Hopefully it can correct before TOP
3k psf? That will be another Reflection project in the making unless the whole property market price will be elevated to the next level. hee hee
3k for CCR new project like midtown is already hard to swallow for me, this one is RCR leh.
For 3k, I rather buy Reflection or Caribbean resale. Much cheaper. :p
 

daheigou999

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3k psf? That will be another Reflection project in the making unless the whole property market price will be elevated to the next level. hee hee
3k for CCR new project like midtown is already hard to swallow for me, this one is RCR leh.
For 3k, I rather buy Reflection or Caribbean resale. Much cheaper. :p

I think you need to look at it from the quantum perspective as well. Don't think it will be a Reflections where you see prices crashing 50% to 1.5k psf, but yeah agree 3k psf ($2.1m) is on a high side.
 
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