1201Singapore Real Estate, Regency Park condos, Apartments,  Rental Houses, Apartments, Condos, Homes Singapore Classifieds, Internet Property Advertisements published by: Asiahomes
Internet

FOR RENT: 

3-bedroom, Block 3, low rise, unrenovated, $7,000.

1.  23rd storey penthouse with panoramic city views 6+1 6,000 sq. ft $20,000.


View from 23rd floor of Regency Park penthouse. Brand new 5, 6 ,7 Holt Road brand new condos (foreground) are strong competitors. 

Note the greyish Fraser Suites serviced apartments (background) and numerous new River Valley Road condos depressing rental prices in 2001. 


2.  Regency Park
4+1 3650 sq. ft
Renovated.

3.  Regency Park, 4+1, from $12,000 for higher floors.
3+1, from$8,000 for lower floors.

Expat favoured Regency Park and Spring Grove condos near downtown Orchard Road:

 

April 18, 2000 house-hunting report:
Click Photos of the interiors of 
Regency Park compared to Yong An Park & Grange Heights penthouses.

Case study:  Can $500 more win the Englishman the waterfront condo for his love?  Part 2 continued from  Part 1. 

Expats relocating to Singapore:
We get you the best most affordable unit.
Email judy@asiahomes.com
Tel: +65 9668 6468.

Interiors: Living/Dining room - marble tiles. Bedrooms: parquet. Many units have been remodeled. All rooms have big balconies.

Facilities: Swimming pool, children's pool, tennis court, squash court, gym, 24-hour security system, covered car park, playground, sauna, fitness area/jogging track, BBQ area.



Block 9 with big balconies, faces pool and Nathan Road going to River Valley Road, Valley Park condos and the Great World Shopping Mall.

The high floors have fantastic city views and some greenery views. Big swimming pools. 

Block 3 will be 4-storeys with lifts and usually 3-bedroom units.

Competitors for spacious 4+1 bedrooms:
Leonie Condotel. Lucky Towers (92 units, upgraded), Beverly Hill (86 units), Horizon Tower (210 units), Orchard Bel-Air (71 units). The strong competitors are the newer condos. 

In 1999, nothing less than $9,000 rentals were obtained for the 3-bedroom units at Regency Park. In 2001, unrenovated units rent around $7,000. 

Occupancy rate: Around 90%. If you visit in the evening, the swimming pool is full of Caucasian children swimming and boys cycling. Caucasians just love the green environment and big balconies. Many taxis available. A 20-min walk to Orchard Road.

Investment potential: Freehold. Many units have worn out bathrooms and kitchen cabinets/tops.  Good units are the high floors in Block 9, facing greenery and not having apartment views, but just unblocked views.  Low floors tend to be dark. 

Characterized by big balconies and spacious bedrooms targeting expats with over $7,000 rental budget for the 3-bedroom of 2260 sq. ft . Higher floors have unblocked city/green tree views.

Advantages:

3-minute drive to Orchard Road/Raffles Place. 5-minute bus to Overseas Family and International Singapore School schools in Paterson Road.

Background

September 6, 1998. Continuing from Part 1.

After a three-month long drought of no offers as Singapore was in the midst of an economic depression, the Scotsman owner had 3 offers from Asiahomes.com Realtor within 2 days and other offers from other realtors.

The prospects from Asiahomes were a Chinese Indonesian family with 2 kids and 2 maids at $4,800, a Welsh couple with no kids and no pets at $5,500 and an Englishman with no kids and one small dog at $5,000.

All were corporate leases but the latter two had pedigree background, being located in Raffles Place and being listed in the Singapore Stock Exchange respectively while the first was a startup just registered few days ago.

"Hold on, I have a $6,500 offer for you" said a fax dated September 10, 1998 from another realtor, Patrick who had earlier offered a $5,000 rental offer within 24 hours after the Owner had rejected the $4,800 offer from the Indonesian family from the Asiahomes.com Realtor co-broking with a "lady agent" or "female caller" on September 4, 1998.

The Owner was not comfortable with the haggling and rapid changes of 3 to 1 and then 2-year lease offer from this Indonesian family and he suspected that Patrick's prospect and ours were the same.

How did Patrick know that the unit was still available?

September 5, 1998.   Patrick  contacted Asiahomes.com Realtor to co-broke, as the Indonesian was interested and offered $5,000. He was asked to provide more details. The Owner was informed.

September 6, 1998. Within 12 hours, Patrick had given a Letter of Intent and $5,000 cheque to the Owner. The Owner signed the Letter of Intent since he had a good offer.

Patrick gave some excuses to the Asiahomes.com Realtor that the Indonesian prospect had left for Hongkong.  Patrick's Letter of Intent showed the same prospect or related family members and he must have found the Owner's contact direct.

September 7, 1998 evening. Asiahomes.com Realtor informed the Owner that there were 2 quality Tenants (Englishman and Welsh) offering $5,000 and $5,500 respectively.

September 8, 1998. The "lady agent" or "female caller" phoned Asiahomes.com Realtor to enquire whether the Owner had accepted the $5,000 offer although she had been told that Asiahomes.com Realtor had no part in this offer as it was done by Patrick.  She persisted a few times.

September 9, 1998.  A third realtor phoned the Asiahomes.com Realtor saying that she had an Indonesian (but not Chinese Indonesian) interested and would offer $6,000 - $6,500. She was asked to submit the offer immediately as the Owner would be signing the tenancy agreement the next day. There was no response. The Owner was informed of this higher offer.

September 10, 1998. The Owner had a fax "hold on" $6,500 offer coming…from Patrick. No other details given.

This "Akan Datang" (Coming soon) suspense was killing because the Englishman was slow in accepting the tenancy agreement.

The prospective tenant, the Englishman was asked to bid above the $5,500 offer.  He was tardy in his reply.  The Asiahomes.com Realtor asked him whether he wanted the condo and if not, to let him know so that he could offer the apartment to the Welsh. He was not happy with the higher asking rent and the bidding war.

He said he would accept the offer but had no time to read the tenancy agreement  yesterday and today as he had to attend meetings.

His was the best offer.  But money was everything and the Englishman had the better offer. Could the  Scotsman better the $6,000 offer?

He did not. In a bidding war, it was difficult for the prospective Tenants.  It was very difficult to make a prompt decision and yet there was no or few ground floor waterfront condos and they command a premium rent if the time was right.