Saturday, 28 September 2013

Sky Vue

The project that made the ex CEO of Capitaland eat his words is launched today. He had once said "it is almost inhumane" to build and stay in such small units but today, we see Capitaland trying to lure investors (not families) to Sky Vue, much to the anguish of people who had bought units in the nearby "iconic" Sky Habitat. 

Sample of the price list of Sky Vue received today. As you can see, most of the units are 1 and 2 bedrooms. 

Nowadays I can no longer be sure when agents tell me it's a 3 bedroom unit. They have cut a typical unit so small that a 3 bedroom can sometimes be less than 1,000 square foot. It is unfortunate but we are definitely heading towards the Hong Kong style of apartments.  "Expensive and small". Now a one bed room is less than 500 square foot and a 2 bed room is less than 800 square foot. I am not sure if that is live-able for a typical family of 2 adults and 2

Now back to Sky Vue, the location is undeniably better than some of the sub urban condos that were being launched but unless you are looking to stay alone or with a partner, it is really hard to imagine a family of four squeezing into a 2 bedroom unit of 679 square foot costing more than $1m. 

If you really need to buy a unit today, go look for a ready one that is not brand new and more "value for money". Believe me. You will prefer space over "newness" over time. 

If you have no urgency to buy a property, just hang on. What you need is a FED tightening and a squeeze in liquidity. It may be just round the corner and hit when no one is expecting it. 

Be patient. 

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