I've been quite negative on SG property based on fundamentals, per my earlier posts. But post the cooling measures, developers have cut prices pretty aggressively and I think increasingly there is value in selective developments.

Just got an email from my longtime agent recommending D'Leedon - apparently with units starting at $1,243 psf (albeit #04-04).

Anyways, I am capped out by the 7% stamp duty, and the 50% LTV, but thought her views were pretty balanced, so thought I'd share her thoughts here.

<[email protected] says>

D'leedon discounts are, by far, one of the most attractive ones around offered by developers after the recent cooling measures.

The 3 bdrm has the best discount so far, offering 15% discount. Alot of the lower floors have been taken up and almost 60 units were snapped up over the wkend.

In terms of the general psf, I think it's quite reasonable for what you're getting - it's super near Farrer MRT and it's in D10 and definitely a ideal place for tenants to consider.

Of cos, if you are picking out the lowest psf of $12xx, then u'll notice that it's #04-04 or that it's a pretty big unit of 1507 sqft up.

In terms of quantum, #24-XX is not bad a deal for 3 bdrm 1216sqft and after 15% discount, it's about $1.7mil. It faces Leedon Heights Rd.

A 2 bdrm there, #22-XX, facing inwards, 1076sqft is already $1.74mil ($1618psf) after 10% discount.

Some info that I've received after the measure:

Star buy unit at Balestier is going for: FH, 1+1bdrm, 527sqft, #08-07: List price is $945K After 14% discount is $812,700 Nett ($1542psf)

The Seawind in District 15, east coast, FH, 1 bdrm 635sqft is going for $961K ( $1513psf ).

I think one of the things u have to consider is that there are 1715 units in D'leedon. The bulk being 1+S ( 262 units ) followed by the 3 / 3+S ( 194 units ), followed by 2 bdrms ( 190 units ) and so on.

It's TOP on paper is dec 2015 ( - usually earlier )

Leedon Residence, just beside D'leedon, by Guocoland is also under construction and it's also due for TOP end 2015.

It's FH and has 381 units and the smallest unit start from 1044sqft for a 2 bdrm.

It's psf for a 1044 sqft unit has been transacted for about $23xx psf so it's already about $2.4mil for it's smaller unit.

And D'leedon is much nearer to Farrer Rd MRT than Leedon Residence.

Levelz, which is across the road from D'leedon, is considered one of the newer ones in the area. It TOP in 2004 and a 990sqft unit transacted in nov for $1.4mil ($1414psf). A 743sqft transacted there in dec at a record price of about $1.26mil ( $1703 psf ). Levelz is a small project of only 126 units.

Spanish Village, which is just beside Levelz, is super old 1987, only 5 storeys high and I think it's psf is quite expensive. A 1528sqft unit transacted in dec 2012 for $2.48mil (1623psf ) and a 700sqft unit transacted in sept 2012 for $1.085mil ( $1551psf )