Sims Ville Condominium

[Cecil Lee]

Sims ville condominium
Location: 2,4,6,8 and 10 Geylang East Avenue 2
Developer
Sims Place Reality Ltd (CapitaLand)
In true fact, this property was developed by the former DBS Land. But because of Monetary Authority's requirement for Banks (Development Bank of Singapore - DBS and other banks to divest their property arm).
Tenure: 99 years
TOP: In 1998 (around 6 years ago)
Total number of units: 522 units consisting of 2, 3 and 4 room apartments.
Location Map:
http://www.streetdirectory.com.sg:8080/map.jsp?x=34242.66&y=33262.895&star=1&xyfile=&level=6&heading=15+JALAN+SUKA+%28399443%29&oldX=33512.41&oldY=32699.5&postal=399443&Click+Any+Point+To+Centralise+Map.x=191&Click+Any+Point+To+Centralise+Map.y=183
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1. In my opinion, many who had wrongly `speculated' on properties in the mid 1980's got their hands (mouth and feet) burnt to a crisp!
2. This site TOP in 1998 and construction started way back in mid 1980's.
3. At this period; many did not foresee the glut of new condominiums. This is a typical Singapore - scene. Whenever, companies felt, that they could make profits, nearly every local company will try to `dip their hands' into becoming a developer.
4. As a result, many (HDB) upgraders and new couples; now prefer to purchase a `brand' NEW condo rather than purchase one that is several years old!
5. The main advantage of this condo is that it is a stone throw away from the Paya Lebar MRT station.
6. Unfortunately, it is surrounded by a temple, and next a muslim mosque. And practically, most of the blocks next to the MRT line can be pretty noisy.
7. Subsidary proprietors who had purchased many of the units in the heydays have truly burnt their fingers!
For example:-
In 2000, depending on the storey/level, apartment prices can range between $580K p.s.f to as high as $682K.
In 2002, prices dipped to as low as $420K p.s.f or to the high of only $520K p.s.f.
Today in 2003; some units are sold for as little as $410K or less!
Therefore, the morale of the story is that: for a 99 year old lease, try, try your best to buy one that is around the $410K to $450K mark depending on the location/near vicinity of MRT etc...)
Anything more, may mean a loss. And if one uses one's CPF or a higher loan quantum, this is a REAL loss. Not just simply a PAPER loss for now.
Warmest Regards,
Cecil

[Cecil Lee]

Sims Residences Condo
Location: Lorong 39 Geylang
Developer: MCL Land Ltd
Tenure: 99 years
TOP: This year
Total of 112 units comprising 2 and 3 bedrooms
Location:
http://www.streetdirectory.com.sg:8080/map.jsp?x=34414.0&y=33157.0&star=1&xyfile=&level=7&heading=8+GEYLANG+LORONG+39%2C+SIMS+RESIDENCES+%28387882%29&oldX=34414.0&oldY=33157.0&postal=387882&Click+Any+Point+To+Centralise+Map.x=202&Click+Any+Point+To+Centralise+Map.y=161
This condo is just opposite the Sims Ville condo. And is close-by to the Paya Lebar MRT station.
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My comments:
1. Fortunately for the residents, MCL Land's pricing for this project is quite reasonable in-view of the high costs; that developers had to pay for the lease of the land.
2. Dislikes about this site: Close to the mosque.
3. For the fire station - this can be a double edged sword! Touch wood - should a fire occur; I believe, response time should be fast.
4. Nevertheless, let's look at the p.s.f. for this development:-
4.1 In 2000, the first opportunity to sell this unit `second-hand' price ranged between $480K to $530K p.s.f.
4.2 In 2001, the price dipped to $436K to $456K p.s.f.
4.3 In 2002, the price dipped to as low as $329K to $440K
5. In my opinion, many owners still made a PAPER loss. But, because, they purchased their apartments at a lower p.s.f, this paper loss (altough is painful) but is much lower than that of say .. the Sims Ville condo saga.
Therefore, Feng Shui or no Feng Shui; nowadays, no one can make much from 99 year leases - especially if they had purchased their units way above in my opinion, the threshold of not exceeding $450K.
Warmest Regards,
Cecil

[M Lim]

On 7/15/2003 at 3:21 PM, Cecil Lee said:

Sims Residences Condo
Location: Lorong 39 Geylang
Developer: MCL Land Ltd
Tenure: 99 years
TOP: This year
Total of 112 units comprising 2 and 3 bedrooms
Location:
http://www.streetdirectory.com.sg:8080/map.jsp?x=34414.0&y=33157.0&star=1&xyfile=&level=7&heading=8+GEYLANG+LORONG+39%2C+SIMS+RESIDENCES+(387882)&oldX=34414.0&oldY=33157.0&postal=387882&Click+Any+Point+To+Centralise+Map.x=202&Click+Any+Point+To+Centralise+Map.y=161
This condo is just opposite the Sims Ville condo. And is close-by to the Paya Lebar MRT station.
---------------------------------
My comments:
1. Fortunately for the residents, MCL Land's pricing for this project is quite reasonable in-view of the high costs; that developers had to pay for the lease of the land.
2. Dislikes about this site: Close to the mosque.
3. For the fire station - this can be a double edged sword! Touch wood - should a fire occur; I believe, response time should be fast.
4. Nevertheless, let's look at the p.s.f. for this development:-
4.1 In 2000, the first opportunity to sell this unit `second-hand' price ranged between $480K to $530K p.s.f.
4.2 In 2001, the price dipped to $436K to $456K p.s.f.
4.3 In 2002, the price dipped to as low as $329K to $440K
5. In my opinion, many owners still made a PAPER loss. But, because, they purchased their apartments at a lower p.s.f, this paper loss (altough is painful) but is much lower than that of say .. the Sims Ville condo saga.
Therefore, Feng Shui or no Feng Shui; nowadays, no one can make much from 99 year leases - especially if they had purchased their units way above in my opinion, the threshold of not exceeding $450K.
Warmest Regards,
Cecil

Dear Master

I am interested in purchasing a unit at Simsville as I needed to stay near the Circle Line for my son to commute to school by himself and also for my husband to commute to work.

The units I saw are so far track facing. As the SMRT has installed noise barriers years ago, I find the noise from the mrt track acceptable. However, I need to check with you.. Do you think the way the MRT track runs poses any Sha Qi (poison arrow) to the development (I don't know how to tell if the mrt tracks "cuts into the development" -  because to me it seems straight hence it's better I seek expert advice from you). Next, from the window.. I can see the Chinese temple if I look to the left - the temple is not directly in front of the main window but if u turn to the left can see the temple - is that ok? Or, is that bad fengshui as well?  Facing the main living room window is the mrt track and a green open field... but if u look to the left it's the Chinese temple and if you look to the right, it's the mrt station.

I have seen 3 units so far - 2 units on 2nd floor (1 of which I had described above) . The other 2nd floor unit faces the mrt station and can't see temple.  The 3rd unit is on 9th floor (description is same as 2nd paragraph above - ie directly facing MRT track and green open field but if u look to left, can see temple)

Kindly advise & I thank you sincerely in advance for your time & input on this

[Cecil Lee]

15 hours ago, M Lim said:

Dear Master

I am interested in purchasing a unit at Simsville as I needed to stay near the Circle Line for my son to commute to school by himself and also for my husband to commute to work.

The units I saw are so far track facing. As the SMRT has installed noise barriers years ago, I find the noise from the mrt track acceptable. However, I need to check with you.. Do you think the way the MRT track runs poses any Sha Qi (poison arrow) to the development (I don't know how to tell if the mrt tracks "cuts into the development" -  because to me it seems straight hence it's better I seek expert advice from you). Next, from the window.. I can see the Chinese temple if I look to the left - the temple is not directly in front of the main window but if u turn to the left can see the temple - is that ok? Or, is that bad fengshui as well?  Facing the main living room window is the mrt track and a green open field... but if u look to the left it's the Chinese temple and if you look to the right, it's the mrt station.

I have seen 3 units so far - 2 units on 2nd floor (1 of which I had described above) . The other 2nd floor unit faces the mrt station and can't see temple.  The 3rd unit is on 9th floor (description is same as 2nd paragraph above - ie directly facing MRT track and green open field but if u look to left, can see temple)

Kindly advise & I thank you sincerely in advance for your time & input on this

You wrote:  Do you think the way the MRT track runs poses any Sha Qi (poison arrow) to the development (I don't know how to tell if the mrt tracks "cuts into the development" - 

Reply: No, the MRT track runs parallel to the estate. It is true that the trains run quieter today: with a few enhancements, namely concrete tracks instead of wooden ones; sound proofing plus more quieter train wheels. 

You wrote:  Next, from the window.. I can see the Chinese temple if I look to the left - the temple is not directly in front of the main window but if u turn to the left can see the temple - is that ok? Or, is that bad fengshui as well? 

Reply: Most likely you are referring to the Foo Hai Chi'an Monastery which is next to the Sri Sivan Temple. In theory, the Monastery is no threat from your description. However, this is always controversal or subjective: there will always be a stigma whenever it comes to future resale value.  Three other temples are in the vicinity but they are mostly around 7 O'clock hidden in the mist of other shophouses. Which I think you are not referring to them such as Kwan Imm See Temple, Katho Chengsia Temple and a smaller Nam Hai Keing.