United Kingdom - Real Estate

United Kingdom - Real Estate

Postby kennynah » Tue Feb 08, 2011 6:07 pm

thanks bro Asp :)

kennynah wrote:Image
and guess what? a singapore property company is currently marketing this property back in singapore... the asking price ranges from S$800K onwards... sorry, i've no idea if it is LH or FH...

this building construction started in 2007 and just completed in 2010...so it's one of the newest developments in london...

if it works out, i'll be viewing this unit at some 30+ floors upwards come this monday... will tell you if the internal finishing, panoramic view and the general surrounding is worthy of the asking price...but from what i've seen on the developer's website, the view is simply breath-taking...

stay-tuned...


this property is being marketed by Savils in Singapore..

i viewed 4 units on Monday,, on 24th, 27th, 30th and 40th levels...

i can tell you the views from all these units are spectacular.... you have an aerial view of north london...you get to see St. Paul's, Gherkin, tower Bridge, Big Ben, Houses of Parliament, BT Tower and direct view of the London Eye...basically, a panaramic view of the entire city...

the price tag ranges from gbp450-700K..depending on floor size and floor... the 2 bed room starts at about 750sqft and the penthouses are about 1000sqft...

about 40 units were snapped up from sgp/hk/china so far... not many units remaining from developer..but we were told, the 1st buyers are looking to sell for a quick profit...
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Re: Photos 04 (Jan 11 - Feb 11)

Postby Aspellian » Tue Feb 08, 2011 6:14 pm

Kenny Da-Ge,

If i go London for holiday, will love to drop by your potential new place to soak in the spectacular view! :lol:

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Re: Photos 04 (Jan 11 - Feb 11)

Postby kennynah » Tue Feb 08, 2011 6:50 pm

bro Asp : you are very welcome :)

we put up an offer, and awaiting for the acceptance....maybe kana rejected then, back to apartment hunting again...hahaha...
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Re: Photos 04 (Jan 11 - Feb 11)

Postby Aspellian » Tue Feb 08, 2011 7:03 pm

kennynah wrote:bro Asp : you are very welcome :)

we put up an offer, and awaiting for the acceptance....maybe kana rejected then, back to apartment hunting again...hahaha...


wow! all the best! looks like a decent place. now europe / uk seems to be a good time to buy. its not always that one can be at the right place at the right time.

"For those who hath will be given more". ;)

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Re: Photos 04 (Jan 11 - Feb 11)

Postby kennynah » Tue Feb 08, 2011 7:21 pm

oh...bro asp...actually, we are not buying this round yet....we are starting with rental first....i'm still not totally familiar with their property purchase policy, something i need to be certain first before engaging in purchase :)

fyi, imo, UK will be raising Rates earlier than expected...it can cause some property price to stall...but rental to shoot sky high... in the last 2 months, i have seen rental rates risen some 15-20%....quite fast and aggressive... less people are buying and more are renting becos it is not easy for them to obtain mortgage loans...
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Re: Photos 04 (Jan 11 - Feb 11)

Postby peter » Tue Feb 08, 2011 10:37 pm

hi kenny,
how much is the asking psf for the condo?
how is the expected rental yield?
not sure what their morgage rate is
if the rental is cash flow positive, perhaps better to buy rather than rent
you can sell for a profit, assuming the market recovers when you leave UK, and saving all the rental in the process.
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Re: Photos 04 (Jan 11 - Feb 11)

Postby kennynah » Wed Feb 09, 2011 2:44 am

hi peter...

psf ranges from GBP500-1000 depending on location, not surprising.

in the heart of the city, it is easily GBP600 psf, depending on whether it is near mrt, amenities, height of the building. view is a priced commodity bcos it is a very heavily build up city. thus, buildings with river view, park view, aerial view or view of some very prominent touristic spots; like london eye, tower bridge, etc, can command anything from GBP800 psf upwards...

south kensington, regent's park, hyde park, brompton areas, and a few others, these are very sought after locations...why? i oso duno...just like you ask why bkt timah 6th ave commands a premium when there is nothing much to rave about, in terms of amenities, easy access to mrt, etc...

these places go for anything between GBP1500 - 3000 sqf...

in fact, 1 Hyde Park, a new condo went on sale recently and one penthouse was sold for GBP6million..i recall it could be abt 2K sqf...

generally, north of the river thames command higher premium than boroughs in the south of the river thames...the reason being that their "shenton way" is situated in the north bank....lesser big time commercial buildings are situated in the south, with the exception of a few that are located just by the river bank....walk 5 mins southwards inland, you get small offices and residentials, including their "HDB" flats/houses/apartments...

this is also why the Strata is going at GBP450K onwards...it is situated in the south bank and at a once upon a time notorious council, Elephant and Castle...today, due to the upcoming Olympics, the gahmen has spruced up many of such "hoods", beautifying the walkways, tearing down old "HDB" flats and building new parks... but becos it is more affordable to stay here, you still get the blue collar workers in such areas...

now, of cos, there are suburban areas where you can buy a 2 storey apartment, 3 bedrooms, a small garden, etc for less than GBP150K...but that's outside the city area and the prospect of capital gains is slooooowwwww....it is not regarded as investment grade properties..

the main reason why people are not buying is becos they cannot easily obtain a mortgage loan...the banks have been very reluctant to lend, which is why the uk gahmen has been pressuring the banks to lend, or they will legislate against banks' bonus payouts...

when the residents cannot get the loans, they have no choice but to rent. this has driven up rental costs over the last few months.
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Re: UK - Housing

Postby peter » Wed Feb 09, 2011 10:25 pm

hi kenny,
I gave savills a ring and here are some additional info.

lease is 125 years from last yr, not sure why this odd number though
out of 52 units returned by original buyers, only 13 units are left, most taken up by HK buyers
1 bedroom on 34 fl, 464ft, price at GBP360k, lower floor ones and studio all gone
around S$1500PSF, similar to spore city fringe pricing
gross rental yield is 4.9%
Letting agent cost 15% of annual rental
morgage rate by OCBC in S$ is 3.2% and LTV of 70%
i request for the London apartment pricing chart , like those from URA to understand the market cycle, but they were unable to provide.
have a happy apartment hunting
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Re: UK - Housing

Postby kennynah » Thu Feb 10, 2011 1:53 am

thanks Peter...

464sqft is mickey mouse... too small for comfort...

a decent size would be at least 750sqft and 2 bedrooms...already small by singapre standards,,,and that would be about GBP500K, which is what i was told by the letting agent too...

but i can assure you the interior finishing is top class...very high specs. but they are ALL open kitchen; meaning, there isn't a separate kitchen, which is a problem for our Asian cooking style...but all modern buidlings in London are with open concept unfortunately..
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Re: UK - Housing

Postby winston » Wed Oct 26, 2011 7:37 am

U.K. Mortgage Approvals Fall Unexpectedly In September

(RTTNews) - U.K. mortgage approvals declined unexpectedly in September, the British Bankers' Association said Tuesday.

The number of mortgage approvals totaled 33,130, down from 35,069 in August and below the expected figure of 36,000.

Overall mortgage approvals, including house purchase and re-mortgage, fell to 72,641 from 77,582 in the prior month.

"Households are limiting their borrowing in the face of unemployment concerns and pressure on household finances amid general economic uncertainty," said BBA statistics director, David Dooks.

Gross mortgage lending of GBP 8.4 billion in September was stronger than in August and 7 percent higher than in September 2010. The slight turn up in recent months in both house purchase and remortgaging approvals has led to stronger gross mortgage lending.

http://www.rttnews.com/ArticleView.aspx?Id=1741256
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