Treasure at Tampines

[zinedine]

Jovell has dropped price on star-buy units...

First the one-bedders, now the three-bedder...

While Komo did not drop price, but their FH units r cheaper than the recent new 99 years launches. Sold 80 out of their 266 on the first weekend...

I applaud these developers for their win-win approach.

 

[annetyu]

Not so easy drop price one la, you wait long long. You don't forget developer borrow from banks, even they wanna drop price, bank will ask them f off

I am not expert.. but does this not mean that the developer is more pressured to move units in order to repay the bank? Unless sim lian has a lot of cash on hand...

Why would the bank care whether the developer makes $$ or not?

 

[Runez]

Not so easy drop price one la, you wait long long. You don't forget developer borrow from banks, even they wanna drop price, bank will ask them f off

wait till 5 years later those unsold units will be fine gao gao

 

[annetyu]

wait till 5 years later those unsold units will be fine gao gao

If I am not wrong, 5 years start from date of acquisition. 1+ year down, the clock remains ticking...

 

[chopra]

If I am not wrong, 5 years start from date of acquisition. 1+ year down, the clock remains ticking...

not sure of the legal mechanics. but it seems like it's typical for developers with unsold units to offload bulk to another company nearer to 5yrs to prevent fine.

 

[annetyu]

not sure of the legal mechanics. but it seems like it's typical for developers with unsold units to offload bulk to another company nearer to 5yrs to prevent fine.

I don't think this is very common practice though it happens time to time for upmarket projects.

Almost zero chance of this happening to large scale mass market project like treasure.

 

[AlohaBeach]

not sure of the legal mechanics. but it seems like it's typical for developers with unsold units to offload bulk to another company nearer to 5yrs to prevent fine.

This loophole has been closed. Not permissible anymore

 

[chopra]

This loophole has been closed. Not permissible anymore

i get that sensing for unsold units in amber skye. alot of penthouses. each is 7mill.

can u remind me whats e penalty again if developer sells at 6th year? 5% or 30%?

 

[Forever84]

When sentosa units couldn't move you think developer fire sale? Lol.

No they just absorb the whole project and rent out instead. Some of these rules were set to stop enbloc sales and rules can change one

 

[Parka]

not sure of the legal mechanics. but it seems like it's typical for developers with unsold units to offload bulk to another company nearer to 5yrs to prevent fine.

It happened once with The Nassim when banker Wee Cho Yaw bought 45 unsold units there.

https://www.straitstimes.com/business/wee-family-buys-all-45-unsold-units-at-the-nassim

The government immediately closed the loophole.

 

[Parka]

i get that sensing for unsold units in amber skye. alot of penthouses. each is 7mill.

can u remind me whats e penalty again if developer sells at 6th year? 5% or 30%?

Not sure what % they have to pay as penalties.

This ST article has some numbers for condos that paid the fines in 2016.

https://www.straitstimes.com/business/property/developers-burden-for-unsold-units-set-to-soar

 

[punkster]

Trawling through the many pages of non treasures related posts....


Bottom line how many ppl here actually bought this? Can share your reasons for it? My agent pushing this aggressively

 

[ck_ian69]

I really don’t see the appeal of staying in a high density condo. The very reason why one stays in a condo is for the more exclusive feel. Treasures feel like a mega HUDC all over again, albeit a new one now. I went to treasures and frankly wasn’t Super impressed

 

[annetyu]

Trawling through the many pages of non treasures related posts....


Bottom line how many ppl here actually bought this? Can share your reasons for it? My agent pushing this aggressively

It is the "cheapest" new launch available now, thats probably the main reason why people are buying. As many have pointed out, the project is not that much more premium over a DBSS flat.

Nearly 2,000 units unsold, you have plenty of time to decide and many units to choose from. Don't get swayed by agent, he just wants your commission. 1 year later when price drop, don't expect him to pick up your call.

 

[punkster]

Ok I’m quite a noob at this. First time looking for 2nd property to invest. For my own stay property I always go for ‘feel’ I get at the showflat or location itself so don’t study so much in terms of density, statistics etc.

If I’m looking for potential price appreciation, not so much rental income, would it make more sense to buy a new pty Eg treasures given its low psf and entry price vs a resale in the same area?

Agent claims that new launches developer will always give discounts cos its soft launch and they wanna make the numbers look good so they can raise the prices in future ‘official’ launches. Is this true? Makes sense but I’m not exactly convinced other than the fact he wants the comm now.

It is the "cheapest" new launch available now, thats probably the main reason why people are buying. As many have pointed out, the project is not that much more premium over a DBSS flat.

Nearly 2,000 units unsold, you have plenty of time to decide and many units to choose from. Don't get swayed by agent, he just wants your commission. 1 year later when price drop, don't expect him to pick up your call.

 

[ThinkCarefully]

Ok I’m quite a noob at this. First time looking for 2nd property to invest. For my own stay property I always go for ‘feel’ I get at the showflat or location itself so don’t study so much in terms of density, statistics etc.

If I’m looking for potential price appreciation, not so much rental income, would it make more sense to buy a new pty Eg treasures given its low psf and entry price vs a resale in the same area?

Agent claims that new launches developer will always give discounts cos its soft launch and they wanna make the numbers look good so they can raise the prices in future ‘official’ launches. Is this true? Makes sense but I’m not exactly convinced other than the fact he wants the comm now.

You should not be asking if what the agent said is true.

You should be asking if you had done your own research, do you think Treasure is worth putting your money and bet on. Remember it is YOUR MONEY ddydd.

The general points about treasure have already been discussed, just scroll up. Treasure has more than 2,200 units to start with, so you still have about 2,000 units to choose from.

From agents point of view, they need to sing the tune as they need to put food on the table. Just read one agent singing ‘6.9 million coming’ song. Buy property can huat. However landlords know how good the rental market is, just speak to some of your friends who may be landlords.

 

[ThinkCarefully]

https://www.propertysoul.com/2019/05/06/can-market-absorb-upcoming-supply/

Ku is one of the most balanced analysts in the market. Have a look.

 

[TeamUSA]

Ok I’m quite a noob at this. First time looking for 2nd property to invest. For my own stay property I always go for ‘feel’ I get at the showflat or location itself so don’t study so much in terms of density, statistics etc.

If I’m looking for potential price appreciation, not so much rental income, would it make more sense to buy a new pty Eg treasures given its low psf and entry price vs a resale in the same area?

Agent claims that new launches developer will always give discounts cos its soft launch and they wanna make the numbers look good so they can raise the prices in future ‘official’ launches. Is this true? Makes sense but I’m not exactly convinced other than the fact he wants the comm now.

For 2nd property investment definitely not! My property agents also tell me they wouldn't buy it for investment whether for capital gains or rental yield. Potential renters will likely work in CBP, and there is a already quite a lot of existing supply in Tanah Merah, Melville Park area, both which are closer to CBP.

Own stay is a different issue, and different considerations apply.

 

[Wimsey]

Ok I’m quite a noob at this. First time looking for 2nd property to invest. For my own stay property I always go for ‘feel’ I get at the showflat or location itself so don’t study so much in terms of density, statistics etc.

If I’m looking for potential price appreciation, not so much rental income, would it make more sense to buy a new pty Eg treasures given its low psf and entry price vs a resale in the same area?

Agent claims that new launches developer will always give discounts cos its soft launch and they wanna make the numbers look good so they can raise the prices in future ‘official’ launches. Is this true? Makes sense but I’m not exactly convinced other than the fact he wants the comm now.

You might want to try looking for well-priced resale condos, and put in some renovation, if you have the cash. That could offer better pricing PSF.

But if you prefer new and have the funds, maybe go and see Riviere. The location is quite special, the former Zouk site. I really like the Riviere showflat. Good size rooms (for a change), efficient layouts, good feel, quite classy. The preview price is lower than for Martin Modern, though I think the Riviere location is better. It's also a mixed development, which is normally more ex. This place should be quite easy to rent out too. But need deep pockets for this one. The one bedroom alone starts from $1.54M up.

 

[punkster]

My budget is < 1 mil, preferably 700k region. Don’t wanna overstretch thus actually prefer BUC for investment given the lower outlay. Any good recommendations? If not maybe I’ll just use the money and buy a bond instead