QUOTE(Mikken @ Mar 16 2013, 04:03 PM)
Just saying that calling all forumers to sell at say 450-500 psf is not realistic at the moment as they will be some desperate sellers pre-vp or once vp. Eventually, the price of Sanderson will go progressively up to a level where demand is longer feasible and price will be stagnant or reduced. Agreed that Sanderson is great development as I am really impressed with the facade. Just saying that no point asking all owners to sell at a certain price. Anyway, judging from the demand, the base price shld at least be 360-370 psf and i foresee some transactions to be done around 375-395 psf these coming few months. 400 psf is the challenging level i suppose.
Oh, thanks for your clarification boss.
You got your point too. I think the smallest unit, 900 sq feet would be the first unit to breach RM 400 psf for low absolute price meanwhile for bigger units, could be little tougher compare to the 900 sq feet unit due to absolute price and valuation.
All the owners can sell at certain set price, provided 2 criteria, the price can be higher than bank market valuation but not more than 7% of bank market value due to not many buyers willing to fork out too huge downpayment if more than 10% differ and not more than 10% of whole Sanderson units are sold at bank market valuation between RM 360 psf ( like cloner check ) and RM 380 psf or else, the low density condo would have lesser remaining units for high price to boost up the market value.
It did happened to The Zest exactly one year ago, where most units were transacted during pre-VP at RM 340-360 psf ( anyway, able to get value ) and RM 380 psf ( after VP, also able to get value) and when some units were sold at RM 420-450 psf for the last 5 months, the number of transacted units at these price ( a lot units but low % based on 720 units ) unable to support bank valuers to push to RM 450 psf / above due to more than 100 units ( approx ) were sold below RM 380 psf exactly 12 months back.
It explain, from RM 340 psf ( year end 2011 ) to RM 360 psf to RM 380 psf ( March 2012 ) to RM 400 psf ( May 2012 ) to RM 440 psf ( Nov/Dec 2012 ) in one year time. An increased of RM 100 psf in terms of transacted price and 99% of these units able to met valuation and why valuers not adamant to go RM 460 psf speaks here.
Past record price, recent record price and number of transacted units ( beyond control ) contributed to the up and lower and stagnant market value too.