Stirling Residences

[aall88]

Adding on to “BUY NEW LAUNCH SURE HUAT, sure anot?”
STIRLING RESIDENCES, 1 bedder sold at $127k loss.
First owner purchased it for $967k in Jan 2021.
Sold at $840k in May 2021.

Will this set a valuation for Stirling resale since SSD for first batch buyers ending next month or just an outlier? Hmmmm

This is very unfortunate, I would guess probably the buyer got into some financial difficulty. Usually 1BR would be bought for investment. There are still a healthy number of new sales and sales of bounced out units, so I would think this is an outlier.

 

[aall88]

$7xxk can get one bedder in Queens peak, link Bridge connected direct from mrt Somemore!
In the locality there’s Margaret ville too..

Queens peak is nice, rented there before. In terms of distance to MRT, QP & CT win hands down, but Stirling is also a very reasonable 2-3 min walk. That's a negligible difference to me. Stirling feels more secluded and less busy because the MRT and main road is blocked by the old Queens condo. Some people may personally not like to live along the main road because of dust, noise, traffic, etc. Regarding the "upslope" walk, I think that's unfounded. I've walked it before and the bus stop side gate of Stirling is situated at the bottom of the "hill" so it's an easy walk to the MRT.

For both QP and CT, you would definitely want the premium facing stacks if you are staying there, facing away from MRT. I personally find the MRT facing stacks too noisy / eyesore (my room at my parent's place faces main road and MRT and after so many years it still annoys me).

Between QP and CT I would choose CT - I think the facilities are nicer, seems more lux cos of the colour scheme (subjective), and has a tennis court (if that matters to you). Both QP and CT are comparatively small projects, so the facilities will be fewer and potentially less luxurious compared to Stirling (of course, you may argue that Stirling will have higher usage of facilities as it's a denser development, but in my experience that's usually not an issue as usage will die down over time). I'm not sure about the maintenance at QP and CT, but Stirling should have a reasonable maintenance fee due to the large number of units sharing costs.

In terms of valuation, as a newer and bigger condo (and arguably the "flagship" condo of the area), I think Stirling does deserve at least a 10% premium over the existing condos. With QP and CT units resale units going for around $1.8k PSF, I think that makes Stirling's $2~k PSF justifiable. At the end of the day, there are many reasons to buy a property. My point is just that I feel Stirling's valuation is still within reason.

 

[Passerboy]

Queens peak is nice, rented there before. In terms of distance to MRT, QP & CT win hands down, but Stirling is also a very reasonable 2-3 min walk. That's a negligible difference to me. Stirling feels more secluded and less busy because the MRT and main road is blocked by the old Queens condo. Some people may personally not like to live along the main road because of dust, noise, traffic, etc. Regarding the "upslope" walk, I think that's unfounded. I've walked it before and the bus stop side gate of Stirling is situated at the bottom of the "hill" so it's an easy walk to the MRT.

For both QP and CT, you would definitely want the premium facing stacks if you are staying there, facing away from MRT. I personally find the MRT facing stacks too noisy / eyesore (my room at my parent's place faces main road and MRT and after so many years it still annoys me).

Between QP and CT I would choose CT - I think the facilities are nicer, seems more lux cos of the colour scheme (subjective), and has a tennis court (if that matters to you). Both QP and CT are comparatively small projects, so the facilities will be fewer and potentially less luxurious compared to Stirling (of course, you may argue that Stirling will have higher usage of facilities as it's a denser development, but in my experience that's usually not an issue as usage will die down over time). I'm not sure about the maintenance at QP and CT, but Stirling should have a reasonable maintenance fee due to the large number of units sharing costs.

In terms of valuation, as a newer and bigger condo (and arguably the "flagship" condo of the area), I think Stirling does deserve at least a 10% premium over the existing condos. With QP and CT units resale units going for around $1.8k PSF, I think that makes Stirling's $2~k PSF justifiable. At the end of the day, there are many reasons to buy a property. My point is just that I feel Stirling's valuation is still within reason.

Bro u bought Stirling?

I think some of the arguments are sound but sound are not. QP and CT are not small projects by any measure one has 736units and the other 845units, they are more midsized development imo while Stirling is considered mega development more than 1000units. In terms of finishing, I had visited CT and Stirling showflat, based on first impressions I would say CT wins hands down. While Stirling is at the foot of the hill, that only applies if u are staying at Blk 21 and not 23/25.

I wouldn’t think Stirling Res is the flagship condo in Queenstown, if any I would think it should be Commonwealth Towers. The fair value should be about 18-19xxpsf imo, not 20xxpsf.

First batch buyers should see decent profits, but don’t think the later buyers or those of the premium view would see much profits. The current bounce out units are also resold for thin profits (not 6 digit profits yet I think). In the long run though, I would think it would do well especially for these first batch buyers.

 

[kelvinkezz]

There was a balloting for two bounced out units earlier today. Anyone aimed for that?

 

[Passerboy]

There was a balloting for two bounced out units earlier today. Anyone aimed for that?

What’s the price/psf?

 

[ThinkCarefully]

###

That one hundreds of buyers just grab within the time limit of 30 seconds given to them to make a purchase leh...

Toilet not important to them?

###

 

[ThinkCarefully]

Shsss....not so loud
U say so loud wait no one buy new launch how?

###

Shhh

Met so many during my search for resale...

Bought at 1.6 mil, selling for 1.45mil ( after 4 years) ... why seller willing to sell at loss?

Agent replied: don’t worry. Seller happy to lose money, a lot in the bank... such unit is like branded bags and shoes... buy, use, not happy, sell, money no concern...restructuring portfolio..

I just stare with my mouth open..150k no concern wor


###

 

[daheigou999]

###

Shhh

Met so many during my search for resale...

Bought at 1.6 mil, selling for 1.45mil ( after 4 years) ... why seller willing to sell at loss?

Agent replied: don’t worry. Seller happy to lose money, a lot in the bank... such unit is like branded bags and shoes... buy, use, not happy, sell, money no concern...restructuring portfolio..

I just stare with my mouth open..150k no concern wor


###

Buy in 2017 still can lose money? Which project is this?

 

[ThinkCarefully]

Buy in 2017 still can lose money? Which project is this?

###


Cannot say project...
But can share some characteristics:
High floor, one of the higher psf during launch...

Usual story, units bought at highest psf during launch may not necessarily end up selling highest during resale..

###

 

[TouringSG]

###


Cannot say project...
But can share some characteristics:
High floor, one of the higher psf during launch...

Usual story, units bought at highest psf during launch may not necessarily end up selling highest during resale..

###

I think if want to buy the highest psf unit must really be for own stay to enjoy. Unless it has very rare traits which only a handful in the entire country (not just neighbourhood or district) can offer.

 

[Passerboy]

I think if want to buy the highest psf unit must really be for own stay to enjoy. Unless it has very rare traits which only a handful in the entire country (not just neighbourhood or district) can offer.

I feel that if u want to buy the highest psf and most premium unit wait for resale. Some projects the psf difference is just insane.

took a glance at some of the below projects with a huge premium built in for the so call premium units. The disparity is insane. Not sure how premium these views are to qualify for the disparity.

The M lowest psf ~21xxpsf highest psf 3022psf!
Midtown Modern lowest psf ~24xxpsf highest psf 4213psf!
The Landmark lowest psf ~19xxpsf highest psf 2591psf!
Stirling Res lowest psf ~15xxpsf highest psf 2283psf!

developers pricing strategy may result in these highest price units selling at a huge loss in the resale market. A disparity of more than 600psf is too big imo in a same project.

 

[Falafell]

I feel that if u want to buy the highest psf and most premium unit wait for resale. Some projects the psf difference is just insane.

took a glance at some of the below projects with a huge premium built in for the so call premium units. The disparity is insane. Not sure how premium these views are to qualify for the disparity.

The M lowest psf ~21xxpsf highest psf 3022psf!
Midtown Modern lowest psf ~24xxpsf highest psf 4213psf!
The Landmark lowest psf ~19xxpsf highest psf 2591psf!
Stirling Res lowest psf ~15xxpsf highest psf 2283psf!

developers pricing strategy may result in these highest price units selling at a huge loss in the resale market. A disparity of more than 600psf is too big imo in a same project.

Actually Stirling Residences launch day already sold 2BR from 168x psf to 21xx psf.

 

[Passerboy]

Actually Stirling Residences launch day already sold 2BR from 168x psf to 21xx psf.

Not true leh. I was looking at Stirling one month aft launch got 15xxpsf unit still Blk 25.

 

[TouringSG]

I feel that if u want to buy the highest psf and most premium unit wait for resale. Some projects the psf difference is just insane.

took a glance at some of the below projects with a huge premium built in for the so call premium units. The disparity is insane. Not sure how premium these views are to qualify for the disparity.

The M lowest psf ~21xxpsf highest psf 3022psf!
Midtown Modern lowest psf ~24xxpsf highest psf 4213psf!
The Landmark lowest psf ~19xxpsf highest psf 2591psf!
Stirling Res lowest psf ~15xxpsf highest psf 2283psf!

developers pricing strategy may result in these highest price units selling at a huge loss in the resale market. A disparity of more than 600psf is too big imo in a same project.

Usually resale market only have crazy quantum premium units (e.g. 7m above). High psf but reasonable quantum (e.g. 2m) premium units are rarely listed for sale.

So unless someone has deep pockets, it's unlikely to get the premium units they want at all. Or really wait until hair turn white

 

[Falafell]

Not true leh. I was looking at Stirling one month aft launch got 15xxpsf unit still Blk 25.

Okay I saw that stack 26 in blk 25 is the lowest in psf for 2BR. 1606 psf for #02-26 764 sqft. Most 2BRs are in the 6xx sqft range which mostly sold at 17xx psf

 

[daheigou999]

I feel that if u want to buy the highest psf and most premium unit wait for resale. Some projects the psf difference is just insane.

took a glance at some of the below projects with a huge premium built in for the so call premium units. The disparity is insane. Not sure how premium these views are to qualify for the disparity.

The M lowest psf ~21xxpsf highest psf 3022psf!
Midtown Modern lowest psf ~24xxpsf highest psf 4213psf!
The Landmark lowest psf ~19xxpsf highest psf 2591psf!
Stirling Res lowest psf ~15xxpsf highest psf 2283psf!

developers pricing strategy may result in these highest price units selling at a huge loss in the resale market. A disparity of more than 600psf is too big imo in a same project.

I’ll change my username to xiaobaigou if the M buyer at 3k psf manages to flip his unit in 3 years for a profit

 

[Passerboy]

Okay I saw that stack 26 in blk 25 is the lowest in psf for 2BR. 1606 psf for #02-26 764 sqft. Most 2BRs are in the 6xx sqft range which mostly sold at 17xx psf

Yeah that stack, most value for money and best layout imo.

 

[Passerboy]

I’ll change my username to xiaobaigou if the M buyer at 3k psf manages to flip his unit in 3 years for a profit

I don’t think it would either, the Midtown Modern 4kpsf unit also no chance, maybe resale can catch 3kpsf if lucky.

 

[NiShiZhu]

I’ll change my username to xiaobaigou if the M buyer at 3k psf manages to flip his unit in 3 years for a profit

I will also change my username to WoShiZhu if the M buyers who bought 21xxpsf loss money in resale

 

[NiShiZhu]

I don’t think it would either, the Midtown Modern 4kpsf unit also no chance, maybe resale can catch 3kpsf if lucky.

Scully end up one turn into pig and the other turn into white Maltese.