"I am a BLOGGER NOT an expert. This is a BLOG not a 'go-to' website for official information. I represent no one's view save my own. I have neither legal nor financial training, nor do I have anything to do with the real estate industry. My understanding of the Collective Sale Process is from a layman's position only. My calculations, computations and tables are homespun and may contain errors. Please note that nothing in this blog constitutes any legal or financial advice to anyone reading it. You should refer to your lawyer, CSC or financial adviser for expert advice before making any decision. This disclaimer is applicable to every post and comment on the blog. Read at your own risk."
Drop Down MenusCSS Drop Down MenuPure CSS Dropdown Menu
There is one thing worse than an Enbloc ----- and that is an Enbloc done badly. Since the majority have the necessary mandate to sell, then they owe it to all SPs to make a success of it. Minority SPs can only watch and wait, if they sell then lets pray it's at a price we can move on with, if they don't sell, then we are happy to stay for a few more years.


Looking through past articles (just click on the label LAGUNA PARK at the end of the post), reread the articles dated 5th & 8th Sep  2009 which said:

CapitaLand’s chief executive Liew Mun Leong said yesterday that the reserve price tag of some $1.2 billion for the estate is “too high to yield affordable homes”.
I’m not very sure that at the end of the day, after paying over $800 per plot ratio, plus construction costs, plus your cost of financing, your break-even cost would be something like $1,500 or $1,600 (per square foot). “Are buyers prepared to pay for it at that location and that price? I am less sanguine than them,” said Mr Liew.

The land price for the condominium, which has 67 years left on its lease, works out to about $844 per sq ft per plot ratio, including the $400million payable.
At this price, the successful purchaser could break even at about $1,200 to $1,250 psf, with a view of pricing the new units at $1,400 to $1,600 psf, said Mr Tan.
Chesterton Suntec International’s research and consultancy director Colin Tan said the condominium sits on an attractive site that faces the sea, but ‘it remains to be seen if it can achieve that kind of pricing’.

Well, Mr Liew & Mr. Tan..... take a good look at Silversea; a unit there  sold in Jan for $2465 psf.   People will pay through the nose for that seaview.  Laguna Park owners have every right to feel sanguine.

And if it doesn't sell - nothing is lost, sit back and enjoy the view. 

1 comment:

  1. Laguna Park and Pine Grove residents are cool, steady people.
    No matter what the MA or property observers say, they stick to their price, $2.3mil!
    Tampines Court residents and SC, we must be steady and cool too, we must stick to our prize and I do mean prize. We must not be desperate, developers are looking for desperate sellers.
    They are looking for who will break...