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Princess Cove R&F
- Thread starter Highflyer
- Start date
Apparently, sales were slack and worse, with Greenland's sales promotion starting anytime soon.
And knowing Greenland's units are relatively cheaper, developer are now trying to clear unsold stock desperately.
Type A, G and K were being promoted aggressively with discounts offered "FOR MARCH ONLY", the flyers were literally flying all over town lately.
Actually nothing surprising. We were all talking n predicting that this day would come eventually as there really is an over supply of condo in these two years. I dont approve such lelong tactics, it is only going to drive consumer confidence lower as they will sit back n wait for the developer to become more desperate n lelong their units even lower in the months to come. For present owners, our hearts go out to you and your bank account.
For those who understand Mandarin, this wsj article reported that R&F has stopped giving dividends for the first time since 2005. Country Garden also lowered their dividends.
http://cn.wsj.com/gb/20150318/hrd190409.asp
http://cn.wsj.com/gb/20150318/hrd190409.asp
Not surprised as R & F is reportedly amongst the highest geared property related company in China. The bank interests will kill of any profits if any, in the wake of slowndown in sales.
Still profit though...
http://www.scmp.com/business/compan...angzhou-rf-properties-net-profit-falls-1492pc
Anyway... just faster faster go ahead and build the da*@ thing...
http://www.scmp.com/business/compan...angzhou-rf-properties-net-profit-falls-1492pc
Anyway... just faster faster go ahead and build the da*@ thing...
Anyone know the latest lelong pricing?? Such DESPERATE discounts is worth spreading around for all to know.. Maybe next month is " FOR APRIL ONLY" If the price drop to rock bottom, I will buy a few units to keep and flip. Anyway so cheap. Never mind if it got 2 toilets in the middle of the unit (bad fengshui) or doesn't face the sea. Cos cslong keep saying this is a good place to invest.. Our hearts go out to those who already paid and bought first phase.. It was quite obvious condo units was already over supply in JB...
Mind your words. Please respect the investors of Princess Cove in this forum.
In the words of your clone cslong, We must Point out facts so that potential buyers can make the right choice. We are waiting for cslong to come out guns blazing.. This is getting embarrassing.. For the record, my heart goes out to RnF owners. I respect your choice and am sorry to hear your developer has gotten desperate. For your own sakes, pls talk to your developer to stop lelong the properties. It is your right. Pls exercise it.
Normally a reputable developer do not lelong or give discounts to selling prices after it had been launched. They can give incentives like furnishings, free trips, etc. but lowering of selling price is a NO No. It is like after you bought your dream car then few months later, the car manufacturer drop the price drastically. Of course you will feel pissed.
But are you sure such a reputable developer would adopt such underhand unethical tactics? I don't believe.
Why should we believe to people that are talking nonsense here? If vohkster claimed that RnF lelong their units, just ask him to prove it. I am sure he don't even know what is the meaning of lelong. I also don't believe anybody will take this type of statement seriously. I seriously don't believe....
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Bro snowbird care to prove cslong wrong?
Rubbish. Of course I know what I am talking about. I am echoing snowbird's posting. If you don't believe it why don't you prove he is lying ? Instead of here whining away you SERIOUSLY don't believe it. Come on. Prove it. As usual all talk no action. And u still haven't answer my two questions. Why u like to slag setia n EW project? Why u so believe in fengshui but cannot afford a house? Everyone here is still waiting for the last two months. I bet u will never have the guts to answer my question.
Not exactly.
The market force will affect the final pricing and reducing/increasing prices are all part of the game and developers do drop prices.
For Capitaland's Sky Habitat in Bishan, the second phase are cheaper than the launching price.
Actually there is nothing to argue about.
The R&F together with Country Garden are not having brisk sales as expected and worse, Greenland will be launching soon so prospective buyers may just wait and see first.
For any project, the developers need to move at least 80% of the units in order to breakeven.
For the mentioned developments, despite aggressive and extensive marketing effort on various media here and overseas, they are still selling their units one year after the first launch.
According to some financial reports, the break even 80% is still not achieved yet which means developers are still not out of the woods yet and have to continue servicing their loans.
Rubbish. Look at your double standard. It's ok for snowbird to say RnF is giving discounts on the units but I cannot echo his sentiment and I am lying? Water entered your brains?? What's with the double standards? You are losing your objectivity and I am surprised you actually think it's ok for snowbird to say all these without backing them up n I am a liar? Sheesh. I am disappointed in you cslong. The very least is have a consistent approach, not this wishy washy answer. Seems like anything other people say negative about RnF seems ok. Thanks for giving me an idea how to trap u in future.
Snowbird didn't claim that RnF lelong their units. You did. Snowbird not responding to you too. You know what is the meaning of lelong, liar?
Yes, I didn't say that R&F lelong their units.
However, for such a "high class" development, they probably don't have much funds left for glossy advertisement and are instead sending flyers all over town, offering discounts etc. and this is actually lowering its prestige.
Only cheaper consumer products or event promotion use flyers as flyers are only meant for the masses on the street!
As long as the sales is still below the 80% threshold one year after launching, the company is technically losing money!
