Treasure at Tampines

[NiShiZhu]

If I say Terrassee beside MRT is ulu, what is Affinity? Hahaa..

I always felt u miss out something important in your analysis.
U failed to understand the psychological aspect of buyers and analyse on case by case basis.
Let me quote u an example,

Watertown and Parc Centros are just one road across. Watertown psf is 13xx to 14xx. Parc Centros transact price is 11xx psf. Does it makes sense to pay 200-300psf more for Watertown which is just one road across? But the fact remains Watertown see over 19 sales transaction in 2019 and Parc Centros only see 7 transaction. Both are around the same age condo. Both have Mall and mrt at doorstep.
Can u explain to me why buyers don’t mind paying that extra 200-300psf though they r so near each other?

What is affinity? Plain simple, it’s brand new with more facilities than terrasse. Btw, affinity also walkable to future mrt anyway.

 

[NiShiZhu]

If I say Terrassee beside MRT is ulu, what is Affinity? Hahaa..

Anyway, if terrasse so cheap and worth it, why don’t u buy?
Half a year gone and only see 2 transaction, u dare to buy even its nearer to mrt?

 

[ThinkCarefully]

Yap u r right.
But Seriously, I do not know what’s the selling point for the Florence.
Perhaps a drop of 100-150psf drop for Florence May help?


WLR still can brag about its RCR mix development status, but Florence.....hmm.

Then there is Normanton coming (dunno when as I think they are likely to appeal), no Mrt or amenities nearby, well known developer Kingsford, expected to launch above 1750 psf!!!

Wonder if such projects will drive more buyers to Treasure, as well as Whistler and Riverfront...

 

[annetyu]

I always felt u miss out something important in your analysis.
U failed to understand the psychological aspect of buyers and analyse on case by case basis.
Let me quote u an example,

Watertown and Parc Centros are just one road across. Watertown psf is 13xx to 14xx. Parc Centros transact price is 11xx psf. Does it makes sense to pay 200-300psf more for Watertown which is just one road across? But the fact remains Watertown see over 19 sales transaction in 2019 and Parc Centros only see 7 transaction. Both are around the same age condo. Both have Mall and mrt at doorstep.
Can u explain to me why buyers don’t mind paying that extra 200-300psf though they r so near each other?

What is affinity? Plain simple, it’s brand new with more facilities than terrasse. Btw, affinity also walkable to future mrt anyway.

Property anaylsis is definitely not as simple as any of us have described. Neither of us are professionals.

However for your example above, Watertown definitely has the edge since is connected directly to mrt and an integrated development. Parc Centros will be affected by rain, that’s what explains the difference. Affinity and terrasee do not have these differences and Affinity only wins by age and a couple more trivial facilities. I guess it’s all about marketing and publicity. As a layman last year, I have never heard of Terrassee and Parc Centros, but i know what is Watertown and Affnity. That is the difference.

 

[NiShiZhu]

Then there is Normanton coming (dunno when as I think they are likely to appeal), no Mrt or amenities nearby, well known developer Kingsford, expected to launch above 1750 psf!!!

Wonder if such projects will drive more buyers to Treasure, as well as Whistler and Riverfront...

I leave Normanton out of the picture after the no-sell till TOP punishment is imposed on Kingsford. Two scenario might happened
1) if appeal unsuccessful, can they still sell 1750psf once completed? Time is not on Kingsford side. It has to be lower, if buyers are lucky, much much lower.
2) even if appeal successful, there will have not much impact on treasure, whistler and riverfront as I felt Normanton is of different league and is very different in location compared to the 3. The 3 belongs more to heartland. I will pitch Normanton location close to interlace’s league. Both also not near mrt and amenities but surrounding feel is very different.

Why I Guess sumang walk EC May help the 3 to sell as its never in the past that EC price is selling so close to condo price. But that’s provided if sumang sells betw 1150 to 1200psf.
Ask yourself, for a difference of 150psf, would u choose sumang EC and bind by mop ruling or u rather choose the 3, whistler, riverfront, treasure? Bear in mind, sumang walk is not really near to Mall/mrt though walkable.

 

[Bad kids]

I noticed riverfront have put up that they have sold over 1,000 units till date. This mass market project is selling well.

 

[annetyu]

I noticed riverfront have put up that they have sold over 1,000 units till date. This mass market project is selling well.

Saw that too. Reason for good sales is none other than it is the cheapest new launch project right now.

 

[LeSaux]

One way to avoid ABSD is buying under a trustee, say for my kid. Anyone try it before?

Have to pay full cash and cannot take loan

 

[Bad kids]

I guess the buyers are rational with the entry price. This project are probably nearer distance to 2 MRT stations comparing with FR. Needless to mention price.

Saw that too. Reason for good sales is none other than it is the cheapest new launch project right now.

 

[ThinkCarefully]

I leave Normanton out of the picture after the no-sell till TOP punishment is imposed on Kingsford. Two scenario might happened
1) if appeal unsuccessful, can they still sell 1750psf once completed? Time is not on Kingsford side. It has to be lower, if buyers are lucky, much much lower.
2) even if appeal successful, there will have not much impact on treasure, whistler and riverfront as I felt Normanton is of different league and is very different in location compared to the 3. The 3 belongs more to heartland. I will pitch Normanton location close to interlace’s league. Both also not near mrt and amenities but surrounding feel is very different.

Why I Guess sumang walk EC May help the 3 to sell as its never in the past that EC price is selling so close to condo price. But that’s provided if sumang sells betw 1150 to 1200psf.
Ask yourself, for a difference of 150psf, would u choose sumang EC and bind by mop ruling or u rather choose the 3, whistler, riverfront, treasure? Bear in mind, sumang walk is not really near to Mall/mrt though walkable.

Yes, agreed. Always drive past Interlace at night, around dinner time, always appear very dark, dunno is it due to Low occupancy or the high ground effect. I think there are still unsold units there.

 

[ThinkCarefully]

I noticed riverfront have put up that they have sold over 1,000 units till date. This mass market project is selling well.

That is about 68% (updated) of total sold, after less than a year.

Whistler is about 44% (updated) of total, after 7 months.

This shows that pricing and timing is important. Compared to Treasures, after about 3 months,15% sold, want to guess how Long it takes them to reach 40% and 70% mark?

 

[1993newbie]

URA caveat just updated few minutus ago. Treasure is moving slowly. So far 6 units sold for month of May. To date 346 units sold, average $1342psf

That is almost 70% of total sold, after less than a year.

Whistler is almost 40% of total, after 7 months.

This shows that pricing and timing is important. Compared to Treasures, after about 3 months,15% sold, want to guess how Long it takes them to reach 40% and 70% mark?

 

[ThinkCarefully]

URA caveat just updated few minutus ago. Treasure is moving slowly. So far 6 units sold for month of May. To date 346 units sold, average $1342psf

Tapestry is about 71% sold.
Interested buyers are still considering whether to buy treasure or something else.

 

[NiShiZhu]

Ok I take it as a few projects are safe now
Park colonial, riverfront, tapestry,

Left Jadescape, park esta, the Florence, G and L, treasure, WLR, tre Ver

Those still got hope to cross 50-60% are affinity and the gardens, Stirling, Amber park, whistler grand.

Help me out, anything I missed?

 

[Eraval]

That is about 68% (updated) of total sold, after less than a year.

Whistler is about 44% (updated) of total, after 7 months.

This shows that pricing and timing is important. Compared to Treasures, after about 3 months,15% sold, want to guess how Long it takes them to reach 40% and 70% mark?

Think Treasure can TOP liao still got 20% unsold at least

 

[annetyu]

Ok I take it as a few projects are safe now
Park colonial, riverfront, tapestry,

Left Jadescape, park esta, the Florence, G and L, treasure, WLR, tre Ver

Those still got hope to cross 50-60% are affinity and the gardens, Stirling, Amber park, whistler grand.

Help me out, anything I missed?

I am quite sure there are many other launches. e.g. daintree, Kent ridge hill, arena etc

 

[ThinkCarefully]

Ok I take it as a few projects are safe now
Park colonial, riverfront, tapestry,

Left Jadescape, park esta, the Florence, G and L, treasure, WLR, tre Ver

Those still got hope to cross 50-60% are affinity and the gardens, Stirling, Amber park, whistler grand.

Help me out, anything I missed?

I do not entirely agree with your breakdown. See my comments.

Originally Posted by NiShiZhu:
Ok I take it as a few projects are safe now
Park colonial, riverfront, tapestry,
Comment
Agree. These are the 70% group.

Left Jadescape, park esta, the Florence, G and L, treasure, WLR, tre Ver

Comment:
This group comprise of
the single digit: Florence, WLR, G&L
And the double digit: jade, Esta, treasure.


Those still got hope to cross 50-60% are affinity and the gardens, Stirling, Amber park, whistler grand.

Comment:
Can agree on affinity, Whistler, Stirling, more than 40% sold
Disagree on gardens, only 20 plus percent sold when affinity has twice as many units and already twice the percentage sold.
Amber may have flashed 20% during launch, but I would reserve my comments until the next few months. Who knows how many buyers may regret and return...

 

[NiShiZhu]

I do not entirely agree with your breakdown. See my comments.

Originally Posted by NiShiZhu:
Ok I take it as a few projects are safe now
Park colonial, riverfront, tapestry,
Comment
Agree. These are the 70% group.

Left Jadescape, park esta, the Florence, G and L, treasure, WLR, tre Ver

Comment:
This group comprise of
the single digit: Florence, WLR, G&L
And the double digit: jade, Esta, treasure.


Those still got hope to cross 50-60% are affinity and the gardens, Stirling, Amber park, whistler grand.

Comment:
Can agree on affinity, Whistler, Stirling, more than 40% sold
Disagree on gardens, only 20 plus percent sold when affinity has twice as many units and already twice the percentage sold.
Amber may have flashed 20% during launch, but I would reserve my comments until the next few months. Who knows how many buyers may regret and return...

Thanks. I dun quite follow garden’s sales. Jin ko Lian, 20 plus % nia.
Anneytu also pointed out daintree and Kent ridge hill.
Hmm, Mayfair garden And Mayfair modern I also don’t quite follow cos seldom discuss.

 

[fotoudavid]

Daintree also slow....

 

[ThinkCarefully]

Thanks. I dun quite follow garden’s sales. Jin ko Lian, 20 plus % nia.
Anneytu also pointed out daintree and Kent ridge hill.
Hmm, Mayfair garden And Mayfair modern I also don’t quite follow cos seldom discuss.

G has only themselves to blame.
They bid land too high, tried to launch 1700 psf (jaw dropping) with no mrt nearby ( the ccl not yet announced). Most neutral observers were shell shocked.
A sensed a need to grab buyers, launched about the same time, 100 to 150 psf lower as their land price was bought lower.

No matter what G does, A can always go 100 to 150 psf lower until they break even and G goes under water.

Classic case of stepping all over those who bought at high price and making a suxxxr out of them.

WLR and colonial is another classic example.