Blog

Singapore New Launch And Condo

Come and find out about new launch and condo news in Singapore! Subscribe to our blog now for more latest property information.

Address: nil
Nearest MRT: nil
Tenure:
Kaeden Ong

Parc Riviera rolls out one-tier prices for early buyers

Posted by Kaeden Ong on 4th November 2016 in Blog

Property developer EL Development will offer a one-tier pricing scheme for its Parc Riviera condominium during the project’s soft launchMore »

Parc-Riviera-Perspectives-Draft-2

Property developer EL Development will offer a one-tier pricing scheme for its Parc Riviera condominium during the project’s soft launch this Saturday (5 November), reported The Straits Times.

The scheme will see units of the same type from the second floor to the 15th floor carrying the same prices.

A 603 sq ft two-bedroom unit, for instance, will be priced at $725,000, regardless of whether it is located on the second floor, the 15th floor, or anywhere in between. Units located higher up in the two 36-storey towers will have higher prices.

EL Development Managing Director Lim Yew Soon revealed that he came up with the novel strategy to give early buyers ‘maximum benefits’.

Typical early bird promotions that advertise units going for ‘$5xx,000’ usually leave buyers guessing a unit’s price as well as its level. He describes this approach as clichéd and ‘a bit old-fashioned’.

“We are telling people that the price starts from $550,000 for the one-bedroom (unit). We feel that $550,000 is an attractive price, even at the lower levels. But now that we have extended the price to 15 floors, it will be even more attractive,” he said.

Located near Pandan Reservoir, Parc Riviera comprises two 36-storey towers and a four-storey carpark. Sizes for the units range between 463 sq ft for a one-bedder and 1,711 sq ft for the biggest four-bedder. Around 64 percent of the development contains one- and two-bedroom units, said EL Development.

Lim noted that the price difference for units on the 15th and 16th levels will be ‘substantial’, by around five percent.

Meanwhile, property experts are optimistic about the scheme. In fact, PropNex Realty CEO Mohamed Ismail expects the strategy to be effective.

“This is one of the first times when a developer has dangled this type of carrot. This strategy will likely get greater interest from consumers as they have an incentive to come early to make up their minds, to get discounted prices for higher floors. There are real savings for the buyer,” he said.

Ong Kah Seng, Director of R’ST Research, on the other hand, said the strategy’s main purpose is to encourage buyers to ‘snap up’ units on the higher floors.

He added that units located on the higher floors of a 20-storey condominium are typically more expensive by up to 15 percent, compared to those located within the middle levels.

Although the scheme could mean that lower floor units may remain unsold for a while, this is immaterial since “the project would already have achieved a fairly good sales rate, resulting in the project achieving good break-even sales or even marginal profits”, said Ong.

Credits: Propertyguru

Tagged in:
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...Loading...
Comments are off for this post
Address: nil
Nearest MRT: nil
Tenure:
Kaeden Ong

One-tier prices for early buyers of Parc Riviera

Posted by Kaeden Ong on 1st November 2016 in Blog

To entice early-bird buyers, the developer of West Coast condominium Parc Riviera is taking a novel one-tier pricing approach. ELMore »

Parc-Riviera-Perspectives-Draft-2

To entice early-bird buyers, the developer of West Coast condominium Parc Riviera is taking a novel one-tier pricing approach.

EL Development is offering units of the same type from the second to the 15th levels for the same price.

For example, a 603 sq ft two-bedroom flat will be priced at $725,000, regardless of whether it is on the second or 15th level – or anywhere in between.

Most developers charge higher prices for flats on higher floors because higher flats tend to be more popular for the views.

While flats will be priced the same between the second and 15th floors, flats higher up the two towers of 36 storeys at Parc Riviera will be offered at higher prices.

Mr Lim Yew Soon, EL Development’s managing director, said he came up with the strategy as he wants early buyers to enjoy “maximum benefits”.

Typical early bird promotions which might advertise units going for “$5xx,000″ leave buyers guessing about the price and the level of the flat.

He said this approach was “a bit old-fashioned” and cliched. “We are telling people that the price starts from $550,000 for the one-bedroom (unit). We feel that $550,000 is an attractive price, even at the lower levels. But now that we have extended the price to 15 floors, it will be even more attractive,” he added, saying this will get buyers to come in earlier.

The one-tier pricing scheme will be available only on Saturday at the condominium’s soft launch.

Parc Riviera, located near Pandan Reservoir, comprises two 36-storey towers with a four-storey carpark. Unit sizes range from 463 sq ft for a one-bedroom unit to 1,711 sq ft for the largest four-bedder. EL Development said that about 64 per cent – are one- and two-bedroom apartments.

Mr Lim said the price difference between the 15th and the 16th floor will be “substantial”, by about 5 per cent.

Property experts were optimistic about the move.

PropNex Realty chief executive Ismail Gafoor said that the strategy is likely to be effective.

“This is one of the first times when a developer has dangled this type of carrot. This strategy will likely get greater interest from consumers as they have an incentive to come early to make up their minds, to get discounted prices for higher floors. There are real savings for the buyer.”

Mr Ong Kah Seng, director of R’ST Research, said that the main purpose of the strategy is to encourage buyers to “snap up” the higher floors.

Typically, units on the higher floors of a 20-storey condominium are more expensive by up to 15 per cent than those in the middle levels, he added.

While this might mean lower floor units could be unsold for a while, Mr Ong said that this is “immaterial” as “the project would already have achieved a fairly good sales rate, resulting in the project achieving good break-even sales or even marginal profits”.

Credits: Straits Times New

 

Tagged in:
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...Loading...
Comments are off for this post
Address: nil
Nearest MRT: nil
Tenure:

Serangoon North reserve site released for application

Posted by Kaeden Ong on 28th October 2016 in Blog

UPDATED: A 1.7ha residential site in the reserve list of the second half 2016 Government Land Sales (GLS) Programme has beenMore »

gls-serangoon-north

UPDATED: A 1.7ha residential site in the reserve list of the second half 2016 Government Land Sales (GLS) Programme has been released for application, said the Urban Redevelopment Authority (URA) on Thursday, 27 October.

Located at Serangoon North Avenue 1, the site could be developed into a two-storey project with a maximum gross floor area of 42,973 sq m. It could yield up to 505 private housing units.

The 99-year leasehold site is close to Chomp Chomp Food Centre, Serangoon Garden Market and several schools.

A reserve list site is only triggered for sale if a developer’s minimum bid price is acceptable to the government.

Credits: Propertyguru

Tagged in:
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...Loading...
Comments are off for this post
Address: nil
Nearest MRT: nil
Tenure:

2 new condo projects to open showflats

Posted by Kaeden Ong on 25th October 2016 in Blog

Parc Riviera, Queens Peak aim to tap buyer interest amid good showing at other launches Two new condominium projects –More »

banner-2

Parc Riviera, Queens Peak aim to tap buyer interest amid good showing at other launches

Two new condominium projects – in West Coast and Queenstown – will open their showflats this weekend in the hope of capitalising on good sales at recent launches.

Prospective buyers can visit the showflat of EL Development’s Parc Riviera in West Coast Vale over the next two weekends, ahead of its sales launch next month.

The other project vying for buyers is Queens Peak in Dundee Road, in Queenstown. It will open for preview on Saturday, with the sales launch scheduled for Nov 5, its developer Hao Yuan Investment said.

EL Development told The Straits Times the average selling price for units at the 752-unit Parc Riviera – a 99-year leasehold development – will be about $1,250 per sq ft.

“We want to price (the units) low at the start to attract early-bird buyers… If demand is there and the market improves, maybe we can consider raising the price slightly,” noted Mr Lim Yew Soon, managing director at EL Development.

Parc Riviera comprises two 36-storey towers with a four-storey carpark. It is near the Pandan Reservoir and park connector. Key features include a panoramic deck with jacuzzis and pavilions on the rooftops of both blocks.

Unit sizes range from 463 sq ft for a one-bedroom unit to 1,711 sq ft for the largest four-bedder. EL Development said 480 of the 752 units – or about 64 per cent – are one- and two-bedroom apartments.

Mr Lim said: “Recent sales at The Alps Residences and Forest Woods are very encouraging… I think as long as the project is well designed and reasonably priced, there’ll be takers.”

Hao Yuan Investment’s Queens Peak – also a 99-year leasehold project – appears to be better located, being near the Queenstown MRT station. It has 736 units, comprising one- to five-bedroom apartments and penthouses.

The sizes of the units at Queens Peak range from 431 sq ft for the one-bedroom unit to 2,002 sq ft for the five-bedder, and 4,768 sq ft for the largest penthouse.

The one- and two-bedroom apartments make up 62 per cent of the total units available there. The developer said premium units will have private lift lobbies, and all four penthouses will come with private pools, jacuzzis and private roof terraces.

“While market sentiment is buoyed by the recent recovery in sales, Queens Peak has very strong qualities… and as such, we have improved confidence at this moment,” said Hao Yuan Investment, adding that selling prices have not been set yet.

The two upcoming showflat openings follow the positive response to new projects rolled out this month.

Forest Woods, a project by City Developments, Hong Leong Holdings and TID, in Lorong Lew Lian sold 65 per cent of its 519 units on its first launch weekend on Oct 8.

MCC Land’s The Alps Residences in Tampines moved 280 of 626 units in a single day when it was put on the market on Oct 2.

Investor Eileen Gwee bought a two-bedder at The Alps Residences in Tampines for under $750,000, in the hope of leasing it out. “I am still confident about Tampines. It is a mature estate and a regional centre; an international school is nearby… so there should be rental potential,” said Ms Gwee, a sales manager.

Newly launched projects such as Cairnhill Nine near Orchard Road, Gem Residences in Toa Payoh and Lake Grande in Jurong have also sold well.

“New projects have launched at reasonable price levels this year… In addition, several of the projects are relatively well located and have attractive characteristics, such as a retail podium and proximity to an MRT station,” said Ms Alice Tan, Knight Frank Singapore research head.

Both Parc Riviera and Queens Peak are expected to get their temporary occupation permits at the end of 2020.

 

Credits: Straits Time Property News

Tagged in:
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...Loading...
Comments are off for this post
Address: nil
Nearest MRT: nil
Tenure:

Queens Peak condo to launch at $1,430-$1,830 psf

Posted by Kaeden Ong on 21st October 2016 in Blog

Chinese developer Hao Yuan Investment will hold a preview starting from this Saturday (22 October), to test market sentiment forMore »

queens-peak-condo

queens-peak-condo

Chinese developer Hao Yuan Investment will hold a preview starting from this Saturday (22 October), to test market sentiment for the Queens Peak condominium at Dundee Road near Queenstown MRT station.

Property agencies SLP Realty and Knight Frank are marketing the 736-unit residential development.

The units will be perched from the eighth storey onwards, and comprise one- to five-bedroom units and penthouses measuring from 431 sq ft to 4,768 sq ft. The prices of the one- to five-bedders will range from $1,430 psf to $1,830 psf.

The four penthouses will come with high ceilings, a private pool, Jacuzzi and private roof terraces, said the developer.

There will also be a 570 sq ft shop unit on the ground floor which will cater to the needs of future residents.

Queens Peak is close to Queensway Shopping Centre, IKEA Alexandra, Alexandra Hospital and several schools.

Tan Zhiyong, Managing Director of MCC Land, the project manager of Queens Peak, said: “The Queenstown estate has greatly transformed in recent years. The nearby Dawson area has been modernised with award-winning public housing projects and the Queensway shopping enclave is now (full of) new malls.”

The 99-year leasehold project is expected to be completed in 2020.

Credits: Propertyguru

Tagged in:
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...Loading...
Comments are off for this post
Address: nil
Nearest MRT: nil
Tenure:

ECs the driving force in new home sales

Posted by Kaeden Ong on 18th October 2016 in Blog

Singapore developers sold 769 private housing units in September including executive condominiums (ECs), down 3.7 percent from the 799 unitsMore »

blogpost-18-10

Singapore developers sold 769 private housing units in September including executive condominiums (ECs), down 3.7 percent from the 799 units sold in the previous month, revealed data published on Monday (17 October) by the Urban Redevelopment Authority (URA).

Year-on-year, sales rose about 18 percent compared to the 629 units sold in September 2015.

Analysts explained that developer sales remains slow due to the absence of new launches.

The best-selling private condominium last month was Lake Grande in Jurong West, which was launched in July. The 99-year leasehold project sold 29 units at a median price of $1,312 psf.

Two previously launched EC projects sold even more units, helping to push up the sales figure.Treasure Crest in Sengkang sold 38 units at a median price of $746 psf, followed by Sol Acres in Choa Chu Kang, which moved 36 units at a median price of $800 psf.

“Buyers continue to find value in the EC market as they will be able to take advantage of an expected long-drawn market recovery to capitalise on selling the EC units after fulfilling the Minimum Occupation Period,” said Desmond Sim, Head, CBRE Research in Singapore and South East Asia.

The most active region was the suburbs, which sold 297 units (74 percent). The balance came from the city fringe, which sold 144 units (20 percent), and the city centre with 68 units sold (six percent).

In the coming months, Ong Teck Hui, National Director of Research & Consultancy at JLL, expects to see more buying activity with the launch of The Alps Residences (626 units), Forest Woods (519 units), Queens Peak (736 units) and Parc Riviera (752 units).

“It has already been reported that The Alps Residences and Forest Woods found keen interest amongst buyers and achieved good sales take-up,” he said.

Analysts also predict a stronger sales performance this year compared to 2015. “It is estimated that 7,500 to 8,200 private residential units will be sold by developers in 2016, exceeding the 7,440 units sold last year,” said Ong.

Including ECs, the figure could surpass 12,000 units, a 20 percent increase from the 10,199 units sold in 2015, added Mohamed Ismail, CEO of PropNex Realty.

Credits: Propertyguru

Tagged in:
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...Loading...
Comments are off for this post