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Owners & Realtors, one direct internet ad contact expats direct, may save you over $5,000 in agency or co-broking fees. Email your ad to: judy@asiahomes.com, visit Asiahomes Internet

Last updated: 15 Aug 2000

HOLLAND PEAK
October 17, 1998 report updated by Asiahomes Internet

CONTENTS

Holland Peak.

Case study:
Making other realtors wait for you.

Case study:
"How much rent should I ask?"

For Rent:
4+ study+1, 2300 sq. ft, $7,000 p/f in Nov 1998.
Other units, tel:
+65 9668 6468 or
Judy@
asiahomes.com

REFERENCE:
PHOTOS

Several photos of Holland Peak interiors

Balcony of the 4 + study + 1 much loved by an American family

Photo of 4+1+1
green views from the bedrooms 53,000 bytes

HOUSE-
HUNTING

Holland Peak's 3-bedroom units have a spacious living area but no good views

23, 25, 27 Holland Hill. A 6-10-minute walk to the Commonwealth subway.

Completed: 1994.
132 units.

1-bedroom: 53 - 56 sq. ft
2-bedroom: 85, 89, 94 & 100 sq. ft
3-bedroom: 122 - 175 sq. ft
4-bedroom: 219 - 250 sq. ft
Penthouse: 300 sq. ft

Characteristics of some good units:

4 + study + 1, 2,300 sq. ft, $7,000 (in January 1999).
Photo of 4+1+1
green views: 53,000 bytes

Quality bathroom.
It has an unblocked grassland and tall Christmas tree views from the living room and balcony despite the fact that this area is congested with high rises.
Low floor. Small kitchen and utility area as in most newer condos.

3+1, 1,600 sq. ft $4,000.
Rectangular shaped spacious living cum dining area opens up to a semi-circular balcony which has a plantar box for small plants.
Master bedroom has attached bathroom with a white long bath. The powder room also has an attached bathroom with a white long bath and a 2nd door to connect to a spacious 3rd bedroom for guests. Excellent lay out as no space is wasted.

3+1 1600 sq. ft. L-shaped living and dining area more spacious as there is no balcony, The 3rd bedroom has no door to the powder room.

Holland Peak has 2 advantages desired by Caucasian expats: balcony and bigger living and dining areas than most new condos.
Other units, contact judy@asiahomes.com

Interiors:
Living/dining - streaks of brown in dark yellow brown marble tiles. Bedrooms - timber strips. White cooker hob and hood. Small maid's room sufficient for a bed.

Facilities:
Swimming pool (big), children's pool, tennis court, covered car park, 24-hour security, multi-purpose room, playground, squash court, barbecue area.

The slow opening exit gate can be infuriating for the fast-paced Tenants, but is meant to be a safety measure. Condo's entrance is at top of hill while the exit is halfway down the hill.

Occupancy Rate: Good. Nowadays, many Caucasians have other choices and many have moved out, but the rentals per sq. ft is much more lower than the fanciful new condos. Contact judy@asiahomes.com for rent and updates. Condo seems to attract Caucasian as many units have balconies.

Competitors:
Waterfall Gardens, The Acardia (US expat enclave), Gallop Gables and many others. Newer condos in downtown are its real competitors.

Newcomer expats: Please contact Asia USA judy@asiahomes.com to help you get the best deal.

Investors to note:
Freehold.

Short walk to the subway and near to Holland Village and Orchard Road are very attractive rental factors.

Advantages:

1. A 6-minute walk to the Commonwealth subway, according to one lady expat on August 15, 2000. If you are a slow walker, it may take longer.

2. Many buses and taxis off the Queensway Road or Holland Road down the hill.

3. A 5-minute drive to Orchard Road & Holland Village. Less than 15-minute drive to the International Schools.

4. Tranquil, away from the main road and noises.

5. A balcony is much attractive to many Caucasian expats as it "extends" the living area and reduce claustrophobia.
Balcony of the 4 + study + 1 much loved by an American family, but more space was needed and therefore, shifted to a 3,700 sq. ft downtown condo for $9,000 in 1998.

Disadvantages:

No unblocked views as the condo is surrounded by buildings or other apartments.

_____________

Case study 1:
Written in 1998.
Habitually making other co-broking realtors wait.

"I will be in Everton Road in 5 minutes as my office is just nearby… said Ms W. She came after 30 minutes to show the Conservation shophouse.

" I will be there in Shaw House in 10 minutes…I am only one road away…" but turned up after 40 minutes saying her children had delayed her.

"Why are you so unhappy?" asked Ms W as she nonchalantly checked the Letter of Intent signed by her Owner, on the boot cover of her car, parked at busy MacKenzie Road after being late for 30 minutes on a busy Saturday afternoon for most active realtors. She said there was a traffic jam and that she had made the wrong turn.

3 incidents within 3 days revealed that this realtor just wanted others to wait for her.

If you have a habit of making sure others are available and wait for you, be prepared that nobody will want to do business with you in the long term.

You may have the property other realtors want but you will not be doing well if nobody wants to co-broke with you.

Realtors don't respect you if you are late so many times.

You do not get referrals as nobody will want to co-broke with you.

Even if you have the best property for lease, your reputation is bad and sooner or later, all will want to avoid doing business with you.

Your Owner may find that you do not seem able to perform and will not entrust you with properties or referrals.

Of course, if you have a sizzling hot piece of real estate, co-broking realtors have no choice but to contact you!

CONTENTS

Holland Peak.

Case study 1:
Making other realtors wait for you.

Case study 2:
"How much rent should I ask?"

For Rent:
4+ study+1, 2300 sq. ft, $7,000 p/f in Nov 1998.
Other units, tel:
+65 9668 6468 or
Judy@
asiahomes.com

REFERENCE:
PHOTOS

Several photos of Holland Peak interiors

Balcony of the 4 + study + 1 much loved by an American family

Photo of 4+1+1
green views from the bedrooms 53,000 bytes

HOUSE-
HUNTING

Holland Peak's 3-bedroom units have a spacious living area but no good views

Case study 2:
"How much rent should I ask?"

Holland Peak's 3-bedroom units have a spacious living area but no good views

As you can see from the house-hunting schedule above, Holland Peak has severe competition. The Dutch expatriate wanted a big living and dining area but his Malaysian wife wants waterfront views or good views. He short list The Anchorage 16th floor and offered $3,700 partially furnished, but the Landlord wanted $4,200. There was no response from the expatriate as he could see more apartments and have more choices.

The 2 Holland Peak apartments seen have the big living and dining areas, renting around $4,000, but they suffer from the lack of any views, being low floor.

"How much rent should I ask?" said one Owner as he was anxious to lease out the apartment.

Would $4,000 be asking too much? Well, this is not a straight forward answer.

Caucasian expats generally have a budget and if they like your place, the rent is the budget.

A bit different from sales valuation prices for residential properties.

However, we know that older 3-bedroom rents around $3,000 - $4,000 in the Holland Road area.

The blood bath is in the suburban areas where 3-bedroom rent less than $2,500 if there are any takers.

If you read the Singapore Straits Times, August 11, 2000, Money, page 70, you would have thought that you should get higher rent.

According to the report "Still going STRONG", all but 2 economic sectors are enjoying better business in the second quarter of 2000. The exceptions are financial services and construction.

Well, the business services sector recorded a +5%. For Owners, the "real estate services sector" which is grouped under the business sector, stays weak, mainly "because the property rental market is still in the doldrums".

Yet the new condos downtown rent out so fast, you will not believe it. An older 3-bedroom Riverwalk apartment of 1,200 sq. ft was rented for $3,500 because it was located near to Raffles Place.

Yesterday, the Owner called me to ask whether I had other prospects. I was showing on American couple with no children the $3,000 condos, reference at:
Aug 14 00: 3-bedroom with spacious living and dining area:

I then got the keys from him and showed the Holland Peak. She was looking for big spacious living and dining areas.

She just fell in love with the bright apartment, the white and grey kitchen and the spacious one-level living and dining area compared to the split level one at the brand new Chateau Le Fame.

The apartment was facing other units. But that was not her consideration. Would the Owner want to rent at $3,100? The sliding door windows were slightly tinted blue but there was plenty of daylight from windows in the bedrooms this Block 23, 2nd floor unit.

Holland View of 2000 sq. ft and big balcony was also her favourite but it was not in good condition. The Vermont I unit was out as it was too old. The Lewis Lodge unit was so beautiful, with natural daylight and garden. Only 8 units, but she considered it too far from Boat Quay. The Robin Road terrace house had tinted glass windows and this would drive her husband crazy as the house looks dark.

As you can see, there are so many factors affecting the rentability of an investment condo.

Rental realtors sometimes go nuts too and lose out as they can't provide the right condo.

"Was I too demanding?" she asked me. We had seen around 20 units and wanted one 1,600 - 2,000 sq. ft 3-bedroom near Boat Quay for $3,000. This was not possible.

In conclusion, do what you have to do.

Lower your expectations if your condo is over 3 years old and outside the downtown area. After 3 months of personal marketing as an "Owner", you will know whether the rent you ask is high.

There are so many new suburban condos without even a call from the agent. It is common for some owners to wait over 6 months to get a tenant at a much reduced rent. An example is the Shelford Green Condos. There are just too many choices for the expatriates as at August 2000.