Popular Holdings

[NTL]

Happen to see this in PropertyGuru website:

http://www.propertyguru.com.sg/project-l...794/sale/1

8 Raja:

Key Features-
Open to all Property agents! High Commission up to 3%.
Close deal early for higher commission!
Sales Period Commission:
Now till 29 Sep 2013 (6 weeks) 3%
30 Sep to 27 Oct 2013 (4 weeks) 2.5%
28 Oct to 24 Nov 2013 (4 weeks) 2%
Freehold and Foreigner Eligible.
Just TOP. Ready For Immediate Occupancy.
(See actual photos of units)
All agents are welcomed.
Type A (Option 1), 2023 sqft - 3 Bedroom + Family room
Type A (Option 2), 2023 sqft - 3 Bedroom + Guest Suite
Type A (Option 3), 2023 sqft - 5 Bedroom
Type B , 1572 sqft - 3 Bedroom
Attractive Pricing with Developer Discount and ABSD Rebate!
Call 65146812 to find out more.
Not to be missed opportunity! Offer on limited time period only!
-----------------------

Look like they are desperately trying to get rid of the units.

With the development completed, so any sales will be considered as secondary market? At the moment, secondary market is really really weak. Will this make them harder to sell?

Furthermore, the units are all of such huge sizes, and the interest is actually in 1 or 2-bdrm units. Is their strategy wrong?

[KopiKat]

Happen to see this in PropertyGuru website:

http://www.propertyguru.com.sg/project-l...794/sale/1

8 Raja:

Key Features-
Open to all Property agents! High Commission up to 3%.
Close deal early for higher commission!
Sales Period Commission:
Now till 29 Sep 2013 (6 weeks) 3%
30 Sep to 27 Oct 2013 (4 weeks) 2.5%
28 Oct to 24 Nov 2013 (4 weeks) 2%
Freehold and Foreigner Eligible.
Just TOP. Ready For Immediate Occupancy.
(See actual photos of units)
All agents are welcomed.
Type A (Option 1), 2023 sqft - 3 Bedroom + Family room
Type A (Option 2), 2023 sqft - 3 Bedroom + Guest Suite
Type A (Option 3), 2023 sqft - 5 Bedroom
Type B , 1572 sqft - 3 Bedroom
Attractive Pricing with Developer Discount and ABSD Rebate!
Call 65146812 to find out more.
Not to be missed opportunity! Offer on limited time period only!
-----------------------

Look like they are desperately trying to get rid of the units.

With the development completed, so any sales will be considered as secondary market? At the moment, secondary market is really really weak. Will this make them harder to sell?

Furthermore, the units are all of such huge sizes, and the interest is actually in 1 or 2-bdrm units. Is their strategy wrong?

Looking at their short track record in Properties, I have the following observations,

- Freehold land
- Small projects of 12 units (1Robin) to 26 units (8Raja)
- Started with larger unit sizes but have changed strategy and have increased nos. of smaller units with 8Raja
- Only launched upon TOP

IMO, they'd been trying to target a niche market with their own unique differentiating features. Along the way, they'd also fine-tuned it after learning the hard way....

BUT, there'd been major changes in the property market due to the cooling measures and they'll have to do more major tuning if they do plan to continue on this segment. For eg., it'd be very challenging under current market condition for them to sell their newly TOP units within 2 years (if they continue to only sell upon TOP). No doubt it's only 26 units (balance 24), but from 'NTL' post, they don't appear to have a designated good agent to market for them. I suppose the lack of a bigger critical mass is a disincentive for good marketing agents...

Having said that, I'd gladly grab their 8Raja units if I happen to have $2mil+ to spare....

[freedom]

Though Singapore property market is hot, not all property type is the same hot. The most popular ones are those smaller ones and cheaper ones(below 1 million). The market for larger units and more expensive ones is quite dismal. The luxury segment is hit the hardest, imo.

Even if they launch earlier, it is unlikely that they can sell more as those units are difficult to flip.

[NTL]

Such large size units are usually for family stay. Quite difficult to rent out. The rental yield for large units are generally lower than that of smaller units.

Let see what they would want to with it. Maybe give one as bonus to each of their directors this year?

---

Having said that, I'd gladly grab their 8Raja units if I happen to have $2mil+ to spare....

Just wondering why would you want to get one there? Location? By the way, I think Whitley MRT Station should be quite near to the development.

[KopiKat]

Having said that, I'd gladly grab their 8Raja units if I happen to have $2mil+ to spare....

Just wondering why would you want to get one there? Location? By the way, I think Whitley MRT Station should be quite near to the development.

More due to nostalgic reasons as I used to run wild around Balestier-Whampoa-Toa Payoh triangle during my childhood days...

As for location, you must be referring to Mt Pleasant MRT station? It's located at the Old Police Academy. Looking at the map, it's not significantly nearer compared to the existing Novena station. Prob 10-15mins walk away. Anyway, I don't think the location is terrible at all as it's close to town area, many good eating joints along Balestier Rd and also Thomson Road. Shopping malls at Novena area. Thomson Medical Centre (used to roam aro' the babies ward when it was listed...) is nearby in case you plan to have babies....

PS. I don't think they're targeting the mass market or flippers... Also, too hefty ($2m+) to give to directors as bonus... Perhaps, it'd be good if the directors purchase at least a couple of units (at good discount but still profitable for the co.) each to show us that they can also eat their own cooking...

[specuvestor]

PS. I don't think they're targeting the mass market or flippers... Also, too hefty ($2m+) to give to directors as bonus... Perhaps, it'd be good if the directors purchase at least a couple of units (at good discount but still profitable for the co.) each to show us that they can also eat their own cooking...

Someone once told me it is best to get units where the directors have a unit so that u can complain to him if anything wrong Better still, get him into the MCST

Understandably, not many directors would want to be in such position

[a74henry]

Instead of selling 2023 sq ft, why not sell 4 x 505 sq ft to 4 different sellers?

In this case, how do you split the units into smaller units for sale?

[ashuro]

Although i dont like popular for venturing into property, i think 8 raja which is selling at 1300-1400psf, for a freehold property isnt really that expensive, i would think it is quite a fair price compared to many surburban launches nowadays

it can be over priced, under priced, or it can be a fair price-whatever that means....

.....but, did it sell, dos it sell, will it sell....& when?

I suppose it will sell .....eventually.... and at the right price
Whether the sale will render a profit could be more relevant.
At the end of the day the property has been paid for and the company could posit as a property owner rather than a developer.

not many property developers would spend money to build condos just to own them, even if deemed "paid for".

perhaps the executives built 8raja to sell it themselves at the outset, or for people in their $2M condo world. with bargain-price per sf of course.

I suppose the company's army of bean-counters don't mind unpaid overtime representing write-downs/impairment, write-offs, depreciations, or reclassification of stocks & assets.

[godjira1]

Ashuro - its obvious u are choosing to read my comments your way and I have no interest in engaging internet trolls. My last on this matter then.

[KopiKat]

Ashuro - its obvious u are choosing to read my comments your way and I have no interest in engaging internet trolls. My last on this matter then.

Ditto here... Most likely someone with an axe to grind as all posts so far is right in this thread...