Not worth the asking - Buyers beware!
Buyers beware. I've been seeking a place for the past weeks focusing on the Shelford area. Initially, thought the location of 19 Shelford is not bad (though further in) and on higher grounds with good view. However, having been through visits of almost all the units listed for sale (yes, I even went on Sundays, weekdays, noon and even at night to have a clear feel), the layout of all the units (especially the penthouse ones) are quite disappointing: extremely dark rooms in the day (I had to use my handphone as a torch to view one of the bedrooms - it was noon sun outside!), very small windows, poor ventilation and very small kitchen. The common facilities are also poorly maintained (justified by the low maintenance fee) with almost no control on security. The worst are the attitudes of the so-called sellers: a lot of them are first time owners who bought at around $700 to $900 psf and they are expecting a windfall sale. But their expectations are ridiculous - to the point of unreasonable - as their asking is at the same level as the new condominiums (which are in move-in and brand new condition) opposite and beside. At the same time, most of the units I visited were poorly maintained,eg broken tiles on patio, kitchen cabinets not working, broken fixtures..ie no units were in move-in condition. When asked what makes them think their asking is supported, they think that the new MRT, proximity etc are key factors...but please, these have been already been priced in previously. What they seem to forget, is that based on the asking rentals (even if I were to take the highest psf rent asked), I can't even get a decent yield of 2.5%....! In summary, buyers beware - buy only if you really have to and willing to pay record-breaking psf price for this condominium and if you have time for "time-waster" owners who just want to test out the market.