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"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."
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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.

The shocking price of new HDB

DBSS flats Centrale 8 at Tampines launched

June 16, 2011
Centrale 8 is a public housing project developed under the Housing and Development Board’s (HDB) Design, Build and Sell Scheme (DBSS). The project covers a total land area of 227,461.6 sq ft.

The project comprises 708 units of three- to five-room flats. The three-room flats range in size from 61 sq m to 62 sq m, the four-room flats from 83 sq m to 84 sq m and the five-room flats from 108 sq m to 109 sq m.

Three-room flats are available for between S$397,000 and S$510,000, four-room units between S$531,000 and S$683,000 and five-room flats between S$685,000 and S$880,000.

The development comprises seven residential blocks, fully-equipped with communal spaces, a central precinct pavilion, children’s playground, inter-precinct open spaces and a fitness area. It also features commercial facilities, such as an eatery, two shops and a mini-mart.

Centrale 8 is strategically located near the Tampines Regional Centre, Tampines MRT Station, Downtown Line 3 MRT Interchange, Tampines Mall, Century Square, Tampines One, major banks and the upcoming Tampines Town Lifestyle Hub.

The showflat will be open for public viewing from 16 to 21 June, 2011.

3 Room HDB ~ 667 sqft / $765 psf!!!
4 Room HDB ~ 904 sqft / $756 psf!!!
5 Room HDB ~ 1170 sqft / $750 psf!!

17 Jun 2011
Looks like I'm not the only one surprised by the new price of HDB. I opened  the Straits Times today and....














The rationale given behind the high price for this new HDB flat is that the location is excellent .... (for all the same reasons why Tampines Court's location is excellent).

With this new benchmark for HDB,  private mass market developments - which are not hamstrung by HDB rules and regulations-  are securely set in the $1000+ psf bracket.




23 June 2011
Tampines DBSS project two times oversubscribed 
The controversial expensive Design, Build, and Sell Scheme project at Tampines, Centrale 8, has been two times oversubscribed.
1,431 applications were received for the 708-unit project by the deadline on Tuesday.
This is despite the hullabaloo created by the indicated price earlier announced by property developer Sim Lian Group, who said during the launch that the biggest 5-room flats will cost up to $880,000.
It has since slashed the prices by up to $102,000, bringing the maximum price down to $778,000.
The Straits Times reported that this news surprised some industry observers, who said that the number of times a project is over-subscribed is not a good indicator of how well it will actually sell eventually.
PropNex Chief Mohamed Ismail told the paper that it is more likely that that people are hoping to buyer lower-end units within their price range, and that if they are offered a flat beyond their budget they will reject it.
Similarly, when the first DBSS project was launched, also by Sim Lian Group, the 616-unit Premiere@ Tampines received 5,700 applications. However, only 500 flats were sold initially, although, as the Straits Times reported, there were long queues when the remaining units went up for sale.
AsiaOne  
Jun 23, 2011

8 comments:

  1. Hi. with these sky high prices, I think I rather stay put in TC. If or when this 2nd enbloc goes thru, the $1.7 will only be bare minimum again.

    ReplyDelete
  2. Anonymous19 June, 2011

    No matter what happen, we should stick to $1.7m for each unit or $950m overall.Anything less than that we are giving away cheap or 1-4-1.

    ReplyDelete
  3. Anonymous19 June, 2011

    With Waterfront Gold and Isle selling at $1000-1050psf, we would be selling at $483psf/pr, a low price, when get $950m or $1.7m each unit. We can do better definitely.

    At 90% efficiency, we still get a selling area 1,966,000sf of gross floor area. The purchaser gets 1.966m x 1050psf=$2.0643b.Minus a construction/misc cost of $590m, the DC/DP of $280m,and the land cost of $950m, the purchaser still has a cool $244m profit or 12% returns. The landcost of $950m to TC or $1.7m for each unit is definitely viable.

    ReplyDelete
  4. Anonymous19 June, 2011

    Just read the news, 5500 people visited DBSS centrale 8 showflate these 2 days. Assuming every 10 people visited, 1 will buy ( which is highly possible). Then, it will be sold 100%. Let's see how the take up rate will be. If this is good, the EC going to launch will be much higher. That means $1.7mils is achievable for tampines court.

    ReplyDelete
  5. Anonymous20 June, 2011

    18,000 people visited the show flat within 4 days. Results will be out on 2nd July 2011.

    ReplyDelete
  6. Anonymous21 June, 2011

    I agree with your views which needs to be brought up at the up coming EOGM or else many will just go ahead the proposed lower RP. More voices needed, not just the same few...

    ReplyDelete
  7. Anonymous21 June, 2011

    people are blissfully ignorant...

    ReplyDelete
  8. Anonymous28 June, 2011

    All news today, shows prices of private homes are still on the Upwards trend:

    Resale prices of private homes continue to rise
    By Mustafa Shafawi | Posted: 28 June 2011 1417 hrs
    http://www.channelnewsasia.com/stories/singaporelocalnews/view/1137625/1/.html
    River Valley apartment sold en bloc for S$70.5m
    By Julie Quek | Posted: 27 June 2011 1931 hrs
    http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1137451/1/.html
    Collective sales market to remain healthy: Credo
    By Mustafa Shafawi | Posted: 27 June 2011 2010 hrs
    http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1137471/1/.html

    ReplyDelete