Matex Residence

[Passingby]

Hi, it is on preview sale and not officially launched yet. I asked UMLand about direct sales - i was advised it is not confirmed at this point whether they will sell direct but based on history, it is more likely NS global will be the exclusive sales agent and all buyers need to go through them....

Hi I have emailed to UMland & gotten a reply fr them that they will inform me once the project is ready for launch.. Hence, not sure it will be more expensive or

 

[shctaw]

Price already increase before it even launch.

It will be higher if you wait for official launch.

They are launching new floors weekend.....

 

[graveyard]

fyi, developer raised price by approx. 6% for 2nd early bird prelaunch. I asked UM Land and they advised price will definitely be higher than
the the earlybird when the project is officially launched by Q1, its only a matter of how much

 

[shctaw]

If one already made up the mind to buy I wonder why one need to wait?

Pay higher price for nothing?

 

[OracleMasia]

fyi, developer raised price by approx. 6% for 2nd early bird prelaunch. I asked UM Land and they advised price will definitely be higher than
the the earlybird when the project is officially launched by Q1, its only a matter of how much

I think it is about 10% higher if you consider the floor premium.

 

[OracleMasia]

If one already made up the mind to buy I wonder why one need to wait?

Pay higher price for nothing?

I know of a few such people who are interested to buy Matex. Their worry is whether the high psf compared to old development make the investment worthwhile as well as future rentability. But if investment is so clear/easy, a lot of people will be rich. If there is a lease agreement attached like Somerset, it will had already be snapped up in no time.

 

[OracleMasia]

Regarding the high psf of Matex/Sky88/paragon suites verus Orchid View/Pine Tree/etc, it is like comparing Armani verus Giordano. Can Giordano become Armani one day? If applied to property, you will probably need to acquire whole of Orchid View, do AEI and put a new management and finally it becomes a premium apartment. Sound diffcult if you are just a small retail investor.

 

[graveyard]

I know of a few such people who are interested to buy Matex. Their worry is whether the high psf compared to old development make the investment worthwhile as well as future rentability. But if investment is so clear/easy, a lot of people will be rich. If there is a lease agreement attached like Somerset, it will had already be snapped up in no time.

Other than old development with lower psf, high end condo like matex also has to compete with landed G&G which is a favorite among foreigners, especially Sporeans. And its hard to ignore the appeal of good landed area like HH, EL, Nusa Duta, Taman Sutera Utama etc .. space, security, own piece of land. I wouldn’t say which is better as both have their own target buyer and tenants. If I were someone with a big family (2 kids or more) and I drive and I am planning to uproot and live in JB for good, I wont choose to live in a condo, I will buy/rent a landed. If I were a single or it’s just me and my partner and I am quite successful in my career, I want to live in a city condo in the heart near swanky office buildings and malls, I will prefer condos like Matex. People say its stupid to invest in condo in Msia that cost as much as landed or even more .. but to me, there is a niche market for almost every property type. If landed is always superior to condo, there will not be any people paying SGD7M for a Marine Bay Suites penthouse in SG where they can get a big landed in SG for less than half that amount and there will not be people willing to stay in expensive manhatten condos when there are abundant ultra cheap landed big houses in US. Investors of Matex are likely to have relied on 2 fundamentals – location and supply. Its location is superb and there is no competing apartments in the close vicinity (at least at this moment)

 

[wolverine23]

But Matex no facilities (or minimal) and not upmarket condo. However, location is convenient.

The target rental crowd should be middle-class working people...

Other than old development with lower psf, high end condo like matex also has to compete with landed G&G which is a favorite among foreigners, especially Sporeans. And its hard to ignore the appeal of good landed area like HH, EL, Nusa Duta, Taman Sutera Utama etc .. space, security, own piece of land. I wouldn’t say which is better as both have their own target buyer and tenants. If I were someone with a big family (2 kids or more) and I drive and I am planning to uproot and live in JB for good, I wont choose to live in a condo, I will buy/rent a landed. If I were a single or it’s just me and my partner and I am quite successful in my career, I want to live in a city condo in the heart near swanky office buildings and malls, I will prefer condos like Matex. People say its stupid to invest in condo in Msia that cost as much as landed or even more .. but to me, there is a niche market for almost every property type. If landed is always superior to condo, there will not be any people paying SGD7M for a Marine Bay Suites penthouse in SG where they can get a big landed in SG for less than half that amount and there will not be people willing to stay in expensive manhatten condos when there are abundant ultra cheap landed big houses in US. Investors of Matex are likely to have relied on 2 fundamentals – location and supply. Its location is superb and there is no competing apartments in the close vicinity (at least at this moment)

 

[graveyard]

But Matex no facilities (or minimal) and not upmarket condo. However, location is convenient.

The target rental crowd should be middle-class working people...

Matex has pool, sauna, gym but too bad, CBD land is too exp to have squash, tennis court etc. To me at least, the location makes it upmarket. A non-upmarket condo will not be priced at 900psf at this point of time

 

[wolverine23]

Emm the minimal facilities are only free for 2 years! And you have to pay for season parking!

The concept is more of a compact suite rather than upmarket residence... This is what I feel.

Matex has pool, sauna, gym but too bad, CBD land is too exp to have squash, tennis court etc. To me at least, the location makes it upmarket. A non-upmarket condo will not be priced at 900psf at this point of time

 

[graveyard]

Emm the minimal facilities are only free for 2 years! And you have to pay for season parking!

The concept is more of a compact suite rather than upmarket residence... This is what I feel.

I think you are defining "upmarket" by space and nbr/cost of facilities. My view is matex is an upmarket service residence with services like concierge etc.Yes its compact, units are quite small but upmarket doesn't necessarily mean big space or affordable facilities .. on the contrary, you pay to use the facilitries on an upmarket project. whether this is appealing to investors is immaterial, because we are here defining what is considered as upmarket

 

[shctaw]

Too small to be up market.

Lido Blvd will be up market with size up to 4000 sq ft.

 

[wolverine23]

I think you are defining "upmarket" by space and nbr/cost of facilities. My view is matex is an upmarket service residence with services like concierge etc.Yes its compact, units are quite small but upmarket doesn't necessarily mean big space or affordable facilities .. on the contrary, you pay to use the facilitries on an upmarket project. whether this is appealing to investors is immaterial, because we are here defining what is considered as upmarket

This is convenient living suite.... Not upmarket.....

Don't get me wrong.... Buyers can still profit.....

 

[RedsYNWA]

Too small to be up market.

Lido Blvd will be up market with size up to 4000 sq ft.

V curious to see how the Lido Blvd response will be, given the high PSF and large unit ie JB's version of The marQ. Heard rumours that they are trying to JV with a well known developer to further their credentials....haha

 

[shctaw]

V curious to see how the Lido Blvd response will be, given the high PSF and large unit ie JB's version of The marQ. Heard rumours that they are trying to JV with a well known developer to further their credentials....haha

They must have a good name to it.

St Regis.
Four Season.
Ritz Carlton.

Rich will not buy if it is not Previlege.

 

[graveyard]

This is convenient living suite.... Not upmarket.....

Don't get me wrong.... Buyers can still profit.....

No sweat. guess we are defining "upmarket" differently. cheers

 

[Newbie11]

NSG has make it public. So should be exclusive..
Time to add Y to thread title

http://www.nsglobal.com.sg/portfolio/
http://www.nsglobal.com.sg/current-projects/matex-residency/

 

[streams]

Hi guys, which is a better home loan to take up with- HSBC or OCBC?

 

[Newbie11]

Heard this weekend seminar will talk abt leaseback.