Updated 29 May 2017
In May 2013, a unit sold for $1.25M. This is the TC record.
An enbloc price should be considerably higher than the highest individual transacted price because land is priced differently to units. Apples & oranges.
An enbloc price should be considerably higher than the highest individual transacted price because land is priced differently to units. Apples & oranges.
One unit just sold at $985k. Soon we will hit $1m & above. Have faith in TC !
ReplyDeleteAnd another at $860k.
ReplyDeleteThose cheap units listing is running out of stock.Soon buyers need to pay more if they want to buy TC (easily above $1M & going higher).Be patient. We don't need to go enbloc unless the price is extremely attractive. TC is a gem & we are not that desperate to sell cheap!
DeleteOnly the higher prices are relevant in collective sale. MA/SC are duty bound to strive for BEST POSSIBLE PRICE.
DeletePrevious chairman, who set the tone and direction for EnBloc III, sold his unit for well below 900K. This in spite of his regular interaction with Property Agencies and Personalities with regards to this collective sale of TC. He was not in the correct frame of mind to drive this EnBloc or was ill advised. Vestiges of his flawed leadership is what all SPs will have to live with.
I reiterate, in EnBloc: it's not bargain price, nor average price, nor median price. It's BEST POSSIBLE PRICE.
Please refrain from suggesting otherwise.
It's market value of the land at the time of sale. That's all.
DeleteToo many wrong moves by SC/MA. Antagonism rife in TC because of the way this team has mishandled this enbloc. Slim chance of achieving 'Sale' status.
DeleteIronically, failure is the better option with this SC/MA combo in charge.
Don't be naive.
DeleteThat a reputable International Property Agency Rep can readjust TC land value by 106M in a matter of 2 weeks, makes a mockery of 'land valuation'. Is it his incompetence or untrustworthiness I wonder?
A good and reliable indication of TC value is when we have 3 or more similar neighbouring plots recently sold for reference. This we do not have.
Therefore TC sale price will not be based on fair land value but the negotiating skills of Developers vs MA/SC. With 49% (incl provisional signers) contented witn 1.3xM, thats the most likely outcome.
MA valuer will act accordingly, he's paid not to jeopardize the sale. Revised RP can be validated with a vote.
Land Valuation is not an exact science. However, there are Professionally recognised methods.
Only with a Court appointed Valuer, better if there's 3, can we get an unbiased value of our TC land.
Sadly, it's not in the High Courts ambit to value TC land. Minority will have to prove that MA land value is unreasonable.
Mega Million dollar schemes are not for simpletons.
It's convoluted and a long drawn saga.
Failure now is a better option.
Who's doing the Valuation at the time of sale?
DeleteIs it the same Agency that knocks off 45M due 'Álternate Construction Methods', and jacks it up by over 100M after careful analysis only days before that any higher is 'impossible', too big to swallow?
You still have faith in SC who have always dutifully given the thumbs up to his yo yo valuation after careful consideration and having access to the calculation?
There's no 'check' if SC is blissfully unsuspecting.
There's no 'balance' if MA wavers his figures to such extremes. It just don't add up.
Any rational SP will find it 'Too Preposterous to Swallow'
I use to see many units advertised for sale @ $800-$900k. Now hardly any.The latest check only 1 unit for sale @$950k & all the rest are above $1M. It's a question of supply & demand. Fire sales unit are very rare. So don't believe the craps that TC price is going downhill !
ReplyDeleteIt's in a slight downturn along with the market. If TC listed prices are going up against the flow it can only be because of the enbloc efforts. Sellers are just trying their luck.
DeleteUnlikely, even modest EnBloc price better than individual sale. Obviously sellers have NO confidence EnBloc will succeed.
DeleteSC at sixes and sevens, MA has no credibility. Don't take SPs seriously, SPs in turn think they're a joke. All their bloopers attest to that.
Collective Sale on very shaky ground.
Availability of cheap units are getting exhausted. Desperate sellers & those who want to cash out have mostly dumped their units in the last 2 years. What remains are those owners who can hold & not in the hurry to sell (55 %). Buyers & bidders can continue to dream on if they think they can convince them to sell at fire sale price ! The 55 % are not stupid. Try harder !
ReplyDeleteDon't be naive.
ReplyDeleteThat a reputable International Property Agency Rep can readjust TC land value by XM in a matter of 2 weeks, makes a mockery of 'land valuation'. Is it his incompetence or untrustworthiness I wonder?
A good and reliable indication of TC value is when we have 3 or more similar neighbouring plots recently sold for reference. This we do not have.
Therefore TC sale price will not be based on fair land value but the negotiating skills of Developers vs MA/SC. With 49% (incl provisional signers) contented witn 1.3xM, thats the most likely outcome.
MA valuer will act accordingly, he's paid not to jeopardize the sale. Revised RP can be validated with a vote.
Land Valuation is not an exact science. However, there are Professionally recognised methods.
Only with a Court appointed Valuer, better if there's 3, can we get an unbiased value of our TC land.
Sadly, it's not in the High Courts ambit to value TC land. Minority will have to prove that MA land value is unreasonable.
Mega Million dollar schemes are not for simpletons.
It's convoluted and a long drawn saga.
Failure now is a better option.
(edited Xm by itshometome)
Consenting owners should come together and get a valuation done. How much can it be, $50-$100 per SP?
ReplyDelete