Reef at King's Dock

[scanner007]

Got take pic? I'm curious and interested too haha

Didn’t take. I did a quick check on property guru, seem like the property is no longer advertised. Could be sold.

 

[TouringSG]

Didn’t take. I did a quick check on property guru, seem like the property is no longer advertised. Could be sold.

Haha assuming it has a pocket view, I'll still choose Reef due to its proximity to vivo and mrt. Caribbean is very very far away. The 22yrs more in lease + new condo factor + proximity to amenities is sufficient to warrant the higher psf for me.

 

[scanner007]

Haha assuming it has a pocket view, I'll still choose Reef due to its proximity to vivo and mrt. Caribbean is very very far away. The 22yrs more in lease + new condo factor + proximity to amenities is sufficient to warrant the higher psf for me.

Not that far bro. Just 2/3 more mins walk counting from entrance to MRT station.
Anyway, who don’t want new condo but it just a matter of entry price vs location, age, amenities, layout, etc.
Which is more value in one perspective.

 

[arctician]

if i cant get a waterfront unit at reef then no point already, i wouldnt pay $2.3k for internal facing units,

Furnishing in reef not bad, i rem their 1+1 BR is full marble, cabinet cover also full glass top, the only thing i dont like about reef is the triangular balcony.

the best is to wait for CM and hope prices can correct then buy a sub-sale.

 

[TouringSG]

if i cant get a waterfront unit at reef then no point already, i wouldnt pay $2.3k for internal facing units,

Furnishing in reef not bad, i rem their 1+1 BR is full marble, cabinet cover also full glass top, the only thing i dont like about reef is the triangular balcony.

the best is to wait for CM and hope prices can correct then buy a sub-sale.

Then you have to get the seafront block already, those have rectangular balconies. But seeing how they were all snapped up pre-launch/launch, highly doubt there will be anyone willing to let go during down market.

 

[arctician]

Then you have to get the seafront block already, those have rectangular balconies. But seeing how they were all snapped up pre-launch/launch, highly doubt there will be anyone willing to let go during down market.

yea i will monitor for subsale 3 years down the road. My only concern is the 99Y LH on a FH land owned by keppel, not sure if it will affect enbloc since developers cant bid and topup lease.

The triangular balcony make the space very hard to utilize, to me its wastage because you can only put a chair

 

[TouringSG]

yea i will monitor for subsale 3 years down the road. My only concern is the 99Y LH on a FH land owned by keppel, not sure if it will affect enbloc since developers cant bid and topup lease.

The triangular balcony make the space very hard to utilize, to me its wastage because you can only put a chair

The 99yr LH is an exception granted by the govt, not by Keppel themselves. Even if Keppel want to enbloc and rebuild, also need to ask govt again for approval to topup back to 99yr.

The exception granted is due to govt wanting to promote live, work, play theme, but there's not enough residential plots to implement the theme. It is originally a FH commercial plot, temporarily converted to 99LH residential plot. If nothing is done, it will revert back to FH commercial plot.

 

[scanner007]

yea i will monitor for subsale 3 years down the road. My only concern is the 99Y LH on a FH land owned by keppel, not sure if it will affect enbloc since developers cant bid and topup lease.

The triangular balcony make the space very hard to utilize, to me its wastage because you can only put a chair

What's your budget like bro? If I may ask.
Have you consider east coast with good sea view, though not waterfront?
Actually during hot day, waterfront staying could be hot if there is mild or no sea breeze.

 

[zaclee]

The 99yr LH is an exception granted by the govt, not by Keppel themselves. Even if Keppel want to enbloc and rebuild, also need to ask govt again for approval to topup back to 99yr.

The exception granted is due to govt wanting to promote live, work, play theme, but there's not enough residential plots to implement the theme. It is originally a FH commercial plot, temporarily converted to 99LH residential plot. If nothing is done, it will revert back to FH commercial plot.

Oh interesting. would this hurt Reef?

 

[TouringSG]

Oh interesting. would this hurt Reef?

Seeing how mix dev is the future norm due to live,work,play theme, it could even be a plus point. In fact, commercial land is worth more money than residential. So definitely a good chance to enbloc and rebuild mix-d residential that sits on a commercial plot in the future.

Especially when Keppel and Maple are working together, and government want to connect the entire shoreline into a mega waterfront trail. I'm thinking link bridge / sheltered walkway to a new mall/office building on the empty commercial plot beside Reef, which in turn is linked to Harbourfront and Vivo (just like how vivo and Harbourfront is linked due to both being owned by maple).... No harm visualising haha.

 

[arctician]

The 99yr LH is an exception granted by the govt, not by Keppel themselves. Even if Keppel want to enbloc and rebuild, also need to ask govt again for approval to topup back to 99yr.

The exception granted is due to govt wanting to promote live, work, play theme, but there's not enough residential plots to implement the theme. It is originally a FH commercial plot, temporarily converted to 99LH residential plot. If nothing is done, it will revert back to FH commercial plot.

yes correct so my concern is these few land plots seem to restrict free market forces for coming into play. How can buyers recover or preserve their capital if keppel is the owner of the land and other developers cant bid for enbloc? Theoretically keppel land can control the enbloc or let lease run down to zero.

for other 99 LH, at least its free market and developers can bid and top up lease...like mayfair in bukit timah

if i ever buy the reef i will have to exit before the 20yo mark set in.

 

[arctician]

What's your budget like bro? If I may ask.
Have you consider east coast with good sea view, though not waterfront?
Actually during hot day, waterfront staying could be hot if there is mild or no sea breeze.

i think average singaporean budget, maybe 1-2m+

i went to seaside residences, dont really like it due to the orange tint which blocks the seaview and its at $2k psf. silver sea is not bad, but i notice their prices have been trending down at average of $1600+. Anyway in current market its really difficult to find new launches at fair price, hau on handy $3k, the new liang court new launch gg to be $3k also, midtown modern $2.8K...good thing is one always have option to wait at sidelines

 

[TouringSG]

yes correct so my concern is these few land plots seem to restrict free market forces for coming into play. How can buyers recover or preserve their capital if keppel is the owner of the land and other developers cant bid for enbloc? Theoretically keppel land can control the enbloc or let lease run down to zero.

for other 99 LH, at least its free market and developers can bid and top up lease...like mayfair in bukit timah

if i ever buy the reef i will have to exit before the 20yo mark set in.

I guess the incentive for Keppel to quickly get back the land to re-monetise earlier will be the main driving force. Or maybe, they will act as "govt" and let other developers tender? Like "sublet" concept haha

 

[arctician]

I guess the incentive for Keppel to quickly get back the land to re-monetise earlier will be the main driving force. Or maybe, they will act as "govt" and let other developers tender? Like "sublet" concept haha

yes so i think in future buyers have to watch out for coral, reflections, and caribean, if keppel will ever enbloc and also if its at fair market valuation, i just worry valuation will go linearly down as lease decays towards zero, then one cannot preserve the capital.

For me i dont need to earn from real estate, but at very least you dont take huge losses from it.

 

[arctician]

if i buy reef at $2800 psf now, does that mean in order to recover my capital i need keppel to enbloc at $2800 or higher. then add in construction cost $700-800 PSF, follow by profit margin of 15%, and any new launches will have to be starting from $4000 psf?

if not possible means buyers who hold long term will face fate of reflections.

 

[NiShiZhu]

if i buy reef at $2800 psf now, does that mean in order to recover my capital i need keppel to enbloc at $2800 or higher. then add in construction cost $700-800 PSF, follow by profit margin of 15%, and any new launches will have to be starting from $4000 psf?

if not possible means buyers who hold long term will face fate of reflections.

Que sera, sera
Whatever will be, will be
The future's not ours to see
Que sera, sera

hehe, nevertheless, yea, the concerns u had r same as mine as well

 

[kpkb]

if i buy reef at $2800 psf now, does that mean in order to recover my capital i need keppel to enbloc at $2800 or higher. then add in construction cost $700-800 PSF, follow by profit margin of 15%, and any new launches will have to be starting from $4000 psf?

if not possible means buyers who hold long term will face fate of reflections.

I think buying anything above $2000psf must be very careful now, especially if entry quantum is high. Exit not so clear cut these days.
I am a east side lover so for such pricing, will prefer east coast sea than waterfront view. If you don’t like Seaside residences, can also look at Meyer Mansion or Coastline or Amber Park. All FH, pay around $25xx-28xx psf can probably get the higher floor sea view units. Safer to hold long term.
Then again, like Mr NSZ says, can’t predict the future. Did anyone predict a housing boom during a recession?

 

[arctician]

I think buying anything above $2000psf must be very careful now, especially if entry quantum is high. Exit not so clear cut these days.
I am a east side lover so for such pricing, will prefer east coast sea than waterfront view. If you don’t like Seaside residences, can also look at Meyer Mansion or Coastline or Amber Park. All FH, pay around $25xx-28xx psf can probably get the higher floor sea view units. Safer to hold long term.

yea i went west coast condo too and compare..the seaview really better at ECP side. The next one i gg see is amber park, Seaside residences is further away from CBD and parkway parade yet command 2k+ psf..safer to buy condos where first owners have absorbed bulk of the depre.

 

[ThinkCarefully]

I think buying anything above $2000psf must be very careful now, especially if entry quantum is high. Exit not so clear cut these days.
I am a east side lover so for such pricing, will prefer east coast sea than waterfront view. If you don’t like Seaside residences, can also look at Meyer Mansion or Coastline or Amber Park. All FH, pay around $25xx-28xx psf can probably get the higher floor sea view units. Safer to hold long term.
Then again, like Mr NSZ says, can’t predict the future. Did anyone predict a housing boom during a recession?

###

It is not so much predicting the future, but observation of trend.
When the doom and gloom of the COVID started... people stayed away

however, once the numbers show exuberance and supply-demand balance showed it is safe to enter... then those who are ready can enter.

###

 

[scanner007]

Copied from 1993newbie sharing on Condo Resale Prices Grow 1.5% in April 2021, Volumes Estimated to Hit 11-Year High. D4, waterfront suffered the biggest losses.