Singapore Property Leak

Tuesday, December 4, 2007

Market Update: Sui Generis & Amber Residences

Apparently 60% of Amber Residences have been sold despite the end-year market slow down. Most of the buyers are local and these units were sold during a private preview on 18 November at an average price of $1650psf with some high floor unit being sold for more than $1800psf.

Now thats quite a change, previously I heard that some units had list prices of $2000psf+. $1800 is still pretty reasonable considering that some Condos that are about to go TOP in the area such as the Belvedere are commanding $1450-1750psf.

Speaking of which, the Belvedere is a pretty decent project. Take note that it lies on a slim strip of land, with a park on its right side. Most of its units have a seaview, but the best stacks are actually 1, 2 and 3 - with stack 2 and 3 being the only units with a bedroom seaview. The rest of the stacks might have issues with its view in future as it faces the Marina Bay area.

In other news, 16 of 23 units released at the 40-unit Sui Generis were sold through road shows in Indonesia and Hong Kong in the past two months with almost all buyers being foreigners. Prices were from $2300-$2580 psf.

Well thats a pretty good price for the Balmoral area. Take note that this is in the district 9 area.

Friday, November 30, 2007

Floridian: Update

Just got an update on the Floridian @ bukit timah and here are my thoughts.

A couple of stacks actually overlook the Good Class Bungalow (GCB) area in Bukit Timah, effectively removing the view that the Nexus currently enjoys. Somehow its a blessing to be behind this time! A long cascading pool runs through the estate and apparently one stack located at the end will enjoy the full view.

I always liked that area behind Bukit Timah Rd, it basically consists of really really huge houses and a nice large open field. Expect lots of greenery and a beautiful glow at night. If you are in the area, drive down Old Holland Road, and you might get what I mean. Now imagine that with a 10 storey view from the Floridian.

Price wise, I can't say that it is exactly a bargain, but it is merely following market prices from Cascadia's sale of an entire block earlier at ~$1500psf to a large investor (with mass discounts of course). Resale units of next door 10-year old Maplewoods was asking for $1350psf last time I checked, so this justifies the Floridian's pricing of ~$1680psf.

Floorplan wise, there are apparently large 4 rooms at 1800sf, rare in these days, as well as large 3+1 rooms. Oh, and for those MGS alumni, the school is just beside the condo.

Tuesday, November 27, 2007

Mr Brown Show: On Sunset Empire and Condo Projects

Here's quite a funny one from Mr Brown on Sunshine Empire. Theres a short mention on property towards the end, as he convinces prospective investors to buy into the scheme.

http://www.mrbrownshow.com/2007/11/27/the-mrbrown-show-of-schemes-and-plans/

Monday, November 26, 2007

F1 Grandstand Passes for only S$275?

Image Source: Official Singapore F1 website www.singaporegp.sg

Rumours abound that the grandstand prices are only going for S$275 for a 3 day pass...however these are not the prime seats. The hot ones will be the ones near the checkered flag (finish line) and pit stop area. I wouldn't be suprised if those cost $1500.

See you there.

Floridian Prices Leaked

Far East sure knows how to set the benchmark, $2000psf for Jardin and now the Floridian for an
estimated $1670psf upwards.

Floridian Details

Location: Bukit Timah, District 21
Tenure: Freehold
Units: 336, 10 storeys
Type: 2, 2+1, 3, 3+1, 4 & 4+1
Sizes: 840sf, 935sf, 1001sf, 1236sf, 1292sf, 1346sf, 1851sf, 2347sf

Monday, November 19, 2007

Floridian @ Bukit Timah Soft Launch! I Eat My Words!

Okay, big sorry to those people whom I led into believing that Floridian is holding out. Perhaps Far East Organization is finally using common sense and is launching the much awaited Floridian to sweep up the hungry mass market (Keep to the left along Bukit Timah Rd and there is a small slip road just after the white Cascadian showroom).

I always thought that Cascadia would launch before the Floridian, but this time its the later that will be doing the benchmarking.

Cheques are being collected already as I type...

Sunday, November 18, 2007

Sunshine Empire State Tower: Scam Property?

images from: http://www.success-empire.com/EmpPropV.html

Okay, so I know most of you are above this. But when I get a well-suited up undergrad approaching me and telling me how I can make a 5 figure sum in a year and that their founder/mentor is better then Warren Buffet it just has to stop you in your tracks.

When I candidly told him I was into real-estate, this kid then told me that I won't be too unfamiliar with this Sunshine Empire thing as they were into property too. He flips out a plastic folder with impressive 3D images of a Sunshine Empire State Building. There were rendered images of other property projects such as a Villa and underwater hotel in Malaysia too! (Watch the video here which I found online!)

I then ask him what does he know about the property market and he pauses, then just dribbles and waffles into another whole bunch of unrelated bullshit. When he finally asks me to put some money in (around 12k me thinks) to get 300% returns in two years, I drop the bombshell on him: So what do you actually sell? He looked around and couldn't answer me.

If you know your kid is into this stuff, tell them to steer clear of this stuff. After reading up on them, it seems like this is a MLM about to go bust as they are now being investigated by CAD.

For casual readers, if these projects were as good as they sound, it would have been featured here already on super credible Property Leak (shamelesss trumpet!)

19/11/07 UPDATE from the Newpaper:

http://newpaper.asia1.com.sg/news/story/0,4136,148134,00.html?

When contacted, a receptionist at the Sunshine Empire office in Toa Payoh Hub said the properties were available to the public.However a receptionist who answered a call made to the Malaysian office of the Empire Property Venture International said the units of all the properties were only available to Sunshine merchants or members.

She said interested buyers had to go to the Sunshine Empire office in Singapore to sign up as a member before getting access to their merchant website to make the purchase of the properties online.She also said that more than 300units of Sunshine Villa have been sold, with the seaview units fully booked.When asked if there were any showflats available for viewing, the woman said there were none, but brochures were available online.She also said there were units available for a higher-end project in Kuala Lumpur called the Empire State Tower.

The brochure on the company's website describes this development to be 'the most prestigious residential address right in the heart of the Golden Triangle Business District of Kuala Lumpur'. This project which is supposed to be built on Jalan Tun Razak, purportedly has 290 units available for sale, with 147 units shown as 'sold' on the online price list. However, a check with the City Hall of Kuala Lumpur revealed that no such project is in the works at present.

A spokesman said: 'City Hall Kuala Lumpur has not received any application for a property to be developed at Jalan Tun Razak called the Empire State Tower.