Treasure at Tampines

[TeamUSA]

because 1.3-1.4 is 2 years ago.
and resale SUO units are going at 1.6k+ already.

There have only been 5 resales units based on URA stats, only 2 of those resales units are around 1.6k, the rest seems to be around 1.3-1.4 k plus. Who is seriously going to buy SUO resale units at 1.6k plus these days?

 

[kiatme]

There have only been 5 resales units based on URA stats, only 2 of those resales units are around 1.6k, the rest seems to be around 1.3-1.4 k plus. Who is seriously going to buy SUO resale units at 1.6k plus these days?

you are looking from URA stats ?
there are 5 transactions, 3 being at 1733 sqft, now find how many sales are there for 1733 sqft for new sales + resale, then compare that number against how many levels are there for the project =) enjoy

also - try googling in guru/srx for sims urban and see how much are the real sellers selling them for

 

[NiShiZhu]

I see it abit differently since I’m vested in D14, so I did quite abit of research.
To begin with, i reccee the area around SUO and there’s really nothing to shout about though it is only 350m away from Aljunied mrt station. It is facing expressway, surrounded by industries and hdb. Surrounding gives me a very depressing feeling.
When I reccee Parc Esta, Eunos mrt is right directly across the road, that side gives me a more vibrant feeling probably due to many eateries around. But I still don’t quite like that area because it is surrounded by hdb and quite noisy. Anyway, I’m not a fan of mega projects with 1399 units.

PLQ is a different league altogether though paya Lebar mrt is one stop away from Aljunied mrt though Aljunied is nearer to town. But don’t forget PLQ main draw factor is the proximity to tons of malls, 2 mrt lines and 3 grade A office. It’s a township developed by lend lease. There’s gonna be major rejuvenation there.
So to me, since both Aljunied and Eunos mrt are just one stop away from Paya Lebar, it doesn’t makes much difference to me which one is being nearer to town.

Basically, I look at the 3 areas in totality, being Paya Lebar area being the most premier, follow by Parc Esta and lastly SUO.
But undeniably, the Low land bid price at sims drive is gonna have direct impact on the SUO resale price. But it’s still early to tell if this Low land bid price will affect Parc Esta as well. After all, this sims drive new land site is subjected to 85sqm rules. So if its bigger units sells at 1400psf, I think it is a reasonable price. SUO resale asking price has to be more realistic by then.

To be honest, even SUO was launched 13xx to 14xxpsf, it was never to my liking after I research that area.
I know where bro “think carefully” is coming from. He is comparing the mrt stations nearest to town.
U really need to reccee the place and experience the feeling.

I really feel sorry for those who bought resale SUO paying 1.5 to 1.6kpsf.
This is a good example of buying the wrong resale.
It may take them years to repent.

 

[chopra]

Looking at this:
https://sbr.com.sg/residential-property/in-focus/developers-lose-pricing-power-after-en-bloc-fever

It looks like SUO owners are in for a nightmare. Just nearby, you get newer, more reputable developer (better as less crowded?) and possibly cheaper.

Also, it showed the worst performing new launch in the market in terms of percentage of units sold as compared to total in development.

Hong Leong Holdings and City Developments’ top bid of $383.5m or $732 psf ppr for the Sims Drive site translates into an estimated breakeven point of approximately $1,175 psf ppr and an average selling price (ASP) of $1,350 psf, assuming a 15% margin.”.


can share how is breakeven point calculated?

 

[NiShiZhu]

Hong Leong Holdings and City Developments’ top bid of $383.5m or $732 psf ppr for the Sims Drive site translates into an estimated breakeven point of approximately $1,175 psf ppr and an average selling price (ASP) of $1,350 psf, assuming a 15% margin.”.


can share how is breakeven point calculated?

732psf land bid price) + 350psf (construction cost) + 331psf (other cost plus 10-15% profit) = 1400psf thereabout.

My fear is CDL being a reputable developer, they usually have “lobang” to reduce construction cost or other overhead cost. That’s y whistler grand can launch cheaper than twin vew despite land price for whistler grand is higher than twin vew.

 

[ThinkCarefully]

732psf land bid price) + 350psf (construction cost) + 331psf (other cost plus 10-15% profit) = 1400psf thereabout.

My fear is CDL being a reputable developer, they usually have “lobang” to reduce construction cost or other overhead cost. That’s y whistler grand can launch cheaper than twin vew despite land price for whistler grand is higher than twin vew.

There is no need to fear as long as they maintain quality and upkeep their reputation.

Those who bought earlier at sky high prices have more to fear.

 

[NiShiZhu]

There is no need to fear as long as they maintain quality and upkeep their reputation.

Those who bought earlier at sky high prices have more to fear.

Hehe, U misunderstood my fear.
I am confident CDL can maintain the same good quality and they have the connection to do it at a lower construction cost.
This means SUO buyers will Kenna pawn big time as the new launch could be less than 13xxpsf.

Those who pay 1.5-1.6kpsf for SUO resale will take years to repent.
This is a good example of buying the wrong resale.

 

[fotoudavid]

Concluded, treasure still OK

 

[Clazav]

The walking distance is not the same. And the time of launch not the same too.

If one pays 1300 to 1400 psf to be within walking distance of Aljunied mrt, why do people want to pay 1700 psf to be near Eunos mrt? Aljunied is nearer to CBD as compared to Eunos, right?

Makes me wonder....

 

[Clazav]

It is wrong buy but then who will know in advance the this plot is launched luckily after 2018 Jul cm and that the bid is low? If gov want treasure to die, they can also launch a plot beside treasure now.

Hehe, U misunderstood my fear.
I am confident CDL can maintain the same good quality and they have the connection to do it at a lower construction cost.
This means SUO buyers will Kenna pawn big time as the new launch could be less than 13xxpsf.

Those who pay 1.5-1.6kpsf for SUO resale will take years to repent.
This is a good example of buying the wrong resale.

 

[ThinkCarefully]

When people are telling you price will shoot up, and what you are buying is higher than surrounding development, buy at your own risk.This is because you are relying that the trend will continue upward and buying at future high price.

When there are people buying surrounding units at higher price and the price now is lower, then it may be safer to buy as there are already surrounding units at higher prices for you to ‘step on’ and these high price units will take the first rap when market tanks. Look at the previous example of P, T and W and perhaps take a cue.

 

[NiShiZhu]

It is wrong buy but then who will know in advance the this plot is launched luckily after 2018 Jul cm and that the bid is low? If gov want treasure to die, they can also launch a plot beside treasure now.

Govt understands there’s current oversupply this year and thus, they have announced that they will not release too many land for bidding this year, else oversupply will worsen. Just that sway sway the sims drive site was released next to SUO after CMs.

Last year nov 30, there’s already news on sims drive site and middle road site will be released for bidding. This is after July 2018 CM. Resale buyers of SUO obviously not aware of this. Or probably didn’t expect the bid price was as Low as 732psf ppr.

URA releases private homes sites at Dairy Farm Walk, Sims Drive, Middle Road and Tan Quee Lan Street
https://www.straitstimes.com/busine...utm_medium=share&utm_term=2019-04-05 20:04:43

 

[chopra]

Hehe, U misunderstood my fear.
I am confident CDL can maintain the same good quality and they have the connection to do it at a lower construction cost.
This means SUO buyers will Kenna pawn big time as the new launch could be less than 13xxpsf.

Those who pay 1.5-1.6kpsf for SUO resale will take years to repent.
This is a good example of buying the wrong resale.

noted. lesson learnt is compare psf across e district. make sure ur resale or new launch psf is not e highest?

 

[Clazav]

Well, if you are saying resale buyer of suo, then they didn't do sufficient homework I guess. But the main bulk of the new buyers are unlucky.

Like high park is lucky because Parc botannia was bidded, launched, and sell at good psf and good volume. So it stands to gain. But now that you think about Parc botannia 13xxpsf, is it worth it?

Govt understands there’s current oversupply this year and thus, they have announced that they will not release too many land for bidding this year, else oversupply will worsen. Just that sway sway the sims drive site was released next to SUO after CMs.

Last year nov 30, there’s already news on sims drive site and middle road site will be released for bidding. This is after July 2018 CM. Resale buyers of SUO obviously not aware of this. Or probably didn’t expect the bid price was as Low as 732psf ppr.

URA releases private homes sites at Dairy Farm Walk, Sims Drive, Middle Road and Tan Quee Lan Street
https://www.straitstimes.com/busine...utm_medium=share&utm_term=2019-04-05 20:04:43

 

[ThinkCarefully]

Certain cases are clear cut, some not.
The case of project WR is clear cut. They wanted to launch RCR at 1,900 to 2,000 psf without full condo facilities. Right across the road, another new launch, project C is launched at 1700 psf, with full condo facilities. If you were forced to buy, which would you choose?

Sure enough, WR managed to sell less than 5% of total units during launch weekend and have now closed their show flat.


Another ploy you have to look out for is Developers dropping prices. There are several projects, just mention two here, project G and A (quite close to each other) which only sold 10 to 15 % of total units during launch weekend. They have subsequently reduced their prices by about 10%. Ask yourself, if you had swarmed the tent during launch, queue and ballot and bought a unit, now prices fall by 10 to 20%, how do you feel being the early bird or early sxxxxr?
The Paronama is one project which the developer realised they were too euphoric in bidding and they wrote off losses as they cannot find buyers who want to pay the prices they paid for the land and building...

Hopefully Treasures (which sold only 10 to 15% during launch weekend) does not disappoint the early birds by becoming desperate to move units.

 

[NiShiZhu]

Well, if you are saying resale buyer of suo, then they didn't do sufficient homework I guess. But the main bulk of the new buyers are unlucky.

Like high park is lucky because Parc botannia was bidded, launched, and sell at good psf and good volume. So it stands to gain. But now that you think about Parc botannia 13xxpsf, is it worth it?

Can’t say SUO first buyer unlucky cos the initial launch price is around 13xx to 14xx psf. Just that they need to be realistic about their future asking price since the site next to it is ard 1400 psf. Also not forgetting the sims drive is subjected to 85sqm restriction.

The resale buyers of SUO that pays 1.6kpsf are the sway ones.

 

[NiShiZhu]

Certain cases are clear cut, some not.
The case of project WR is clear cut. They wanted to launch RCR at 1,900 to 2,000 psf without full condo facilities. Right across the road, another new launch, project C is launched at 1700 psf, with full condo facilities. If you were forced to buy, which would you choose?

Sure enough, WR managed to sell less than 5% of total units during launch weekend and have now closed their show flat.


Another ploy you have to look out for is Developers dropping prices. There are several projects, just mention two here, project G and A (quite close to each other) which only sold 10 to 15 % of total units during launch weekend. They have subsequently reduced their prices by about 10%. Ask yourself, if you had swarmed the tent during launch, queue and ballot and bought a unit, now prices fall by 10 to 20%, how do you feel being the early bird or early sxxxxr?
The Paronama is one project which the developer realised they were too euphoric in bidding and they wrote off losses as they cannot find buyers who want to pay the prices they paid for the land and building...

Hopefully Treasures (which sold only 10 to 15% during launch weekend) does not disappoint the early birds by becoming desperate to move units.

WR is a case of heading towards suicidal. Likewise for the garden residence.
Affinity is also one of them but its saving grace is the new mrt announcement.
Smart pple won’t buy the above 3 projects during launch. They are all set to fail, not surprising.

I feel park colonial, Tre Ver, park Esta is priced quite reasonably in my opinion.
Treasure has the lowest psf so far and thus, for those with limited Budget, it still has its group of supporters.
My gut feel is treasure can’t go any lower judging from my Guess that upcoming EC will be crossing the 1-1.1kpsf bar soon.

 

[Clazav]

If buyers do a lot of research, this sim drive plot really throw in big hint that market is slowing down. Who will want to buy other projects considering that this plot could launch at 14xxpsf? Even treasure at 12xxpsf will appear exp. Well of course each unit in this plot will have bigger quantum but if you afford, wait for it to launch.

Can’t say SUO first buyer unlucky cos the initial launch price is around 13xx to 14xx psf. Just that they need to be realistic about their future asking price since the site next to it is ard 1400 psf. Also not forgetting the sims drive is subjected to 85sqm restriction.

The resale buyers of SUO that pays 1.6kpsf are the sway ones.

 

[zinedine]

Certain cases are clear cut, some not.
The case of project WR is clear cut. They wanted to launch RCR at 1,900 to 2,000 psf without full condo facilities. Right across the road, another new launch, project C is launched at 1700 psf, with full condo facilities. If you were forced to buy, which would you choose?

Sure enough, WR managed to sell less than 5% of total units during launch weekend and have now closed their show flat.


Another ploy you have to look out for is Developers dropping prices. There are several projects, just mention two here, project G and A (quite close to each other) which only sold 10 to 15 % of total units during launch weekend. They have subsequently reduced their prices by about 10%. Ask yourself, if you had swarmed the tent during launch, queue and ballot and bought a unit, now prices fall by 10 to 20%, how do you feel being the early bird or early sxxxxr?
The Paronama is one project which the developer realised they were too euphoric in bidding and they wrote off losses as they cannot find buyers who want to pay the prices they paid for the land and building...

Hopefully Treasures (which sold only 10 to 15% during launch weekend) does not disappoint the early birds by becoming desperate to move units.

Can someone enlighten what WR, G and A are? I'm quite new to this...

Thank you in advance.

 

[NiShiZhu]

If buyers do a lot of research, this sim drive plot really throw in big hint that market is slowing down. Who will want to buy other projects considering that this plot could launch at 14xxpsf? Even treasure at 12xxpsf will appear exp. Well of course each unit in this plot will have bigger quantum but if you afford, wait for it to launch.

I Guess the new launch price will remain flattish for quite some time.
It’s now a game of tug of war betw buyers and developer. See who give in first.

Developer enbloc/bid the land too high also can’t give too much discount.
Buyers now all adopt the wait and see attitude due to oversupply. But some may need to buy a home desperately for personal reason.

The bargain buys will not be those enbloc sites bought at high price by developer.
The bargain buys will be the subsequent land bid price during this time when market has softened and when there’s oversupply. perhaps the sims drive site is just a start. (But for that area, if 1400psf and subjected to 85sqm rule, I still don’t think it’s dirt cheap).
However middle road site still attracts 10 bidders at 14xxpsf ppr.

Lets see how other land bid price is performing to have a more conclusive picture.