PDA

View Full Version : Austville Residences (EC 540-units)



sleek
20-11-10, 12:15
Nov 20, 2010
UE's exec condo to target young couples
Analysts upbeat about demand for upcoming Sengkang project
By Yasmine Yahya

UNITED Engineers (UE) is hoping to cash in on the pent-up demand for affordable housing among young couples with the unveiling of Austville Residences, a 540-unit executive condominium.

The 99-year leasehold project is expected to be launched some time next month or in January. It is located between Sengkang East Avenue and Buangkok Drive, a three-minute walk to Kangkar LRT station and five minutes away from Ranggung LRT station.

Prices will start from $650 per sq ft (psf), with two-bedroom units priced from $562,000.

UE said this will be the first executive condo in Singapore to have a theme design - the developers have taken Australian nature resorts as their inspiration.

The project will include features such as a beach-style pool, a barbecue corner and a vineyard-inspired dining pavilion. It is the third executive condo to be unveiled this year, and analysts expect it to be just as popular as the previous two, especially among young couples.

'For the location, I think the price is reasonable. If you look at recent launches of private residential properties, take-up has been good,' said Mr Steven Tan, executive director of residential at property agency OrangeTee.

'The market is receptive to private property prices of $800 to $900 psf. The average prices of executive condos represent a 20 per cent discount to that. Plus, since it's considered public housing, first-time buyers can get the $30,000 Central Provident Fund grant as well,' he added.

The senior manager of Asia-Pacific research at Cushman & Wakefield, Mr Ong Kah Seng, was equally upbeat.

'Looking at how oversubscribed Esparina Residences was, it reflects that there is strong demand for executive condos in various locations waiting to be absorbed. There is also continued relevance for executive condos to cater to the 'sandwiched class', which will help executive condos appreciate as choice dwellings.'

Esparina Residences was one of two executive condos launched earlier this year. Situated near Buangkok MRT station, it has a median price of $761 psf. So far, 425 of its 573 units have been sold.

The other one launched, The Canopy in Yishun, has been selling at a median price of $658 psf. Of its 406 units, 104 have been taken up.

Executive condos are a hybrid of public and private housing. Before this year, the last one was launched in 2005. This is just one reason why they are proving to be so popular today, said Mr Ong.

'Executive condos are popular primarily due to the long dearth of new projects and prices of private suburban condominiums which have generally reached record highs. Executive condos are hence the closest substitutes for eligible buyers who wish to enjoy a condominium living experience,' he said.

Austville features six 18-storey towers with two- to four-bedroom units, including 30 penthouse units. Unit sizes range from 811 to 1,241 sq ft.

UE said the expected temporary occupation permit date for Austville will be no later than 2014.

[email protected]

rattydrama
20-11-10, 15:28
looks like market has soften down... now we are reading more 680psf...and less on 2000psf.....

2824
20-11-10, 21:47
dun understand why the analysts all seem so optimistic, i thought that this one will be picking up the scraps of esparina :doh:

hyenergix
21-11-10, 05:54
It seems that like more and more 99LH condos are being launched. By mid next year, there could be a glut and I feel that quite likely every new launch now will have significant number (20%?) of units not sold over a long time. The market and psf for these 99LH condos will peak very soon...

gohsoonk
22-11-10, 08:50
This is already happening for the high end condos. (read Straits Times today - last page).


It seems that like more and more 99LH condos are being launched. By mid next year, there could be a glut and I feel that quite likely every new launch now will have significant number (20%?) of units not sold over a long time. The market and psf for these 99LH condos will peak very soon...

iridrium
22-11-10, 11:09
looks like market has soften down... now we are reading more 680psf...and less on 2000psf.....

How is the market soften? Looking at a EC at $680psf and at a inferior location compared to Esparina.

Still overly bullish imo.

azeoprop
22-11-10, 14:16
caspian, mi casa, waterfront waves and the quartz were selling 580-650psf last year. Now EC at 680psf, still bullish. :beats-me-man:

fooblackie
24-11-10, 10:37
This EC is the 3rd EC in the row along this road. so you got your choice of a 10-yr old, 6 yr-old or a -ve 3yr old haha...

EC for the rivervale and park green transacting ard $600 - $640 psf range. This explains the slight premium for the new offering.

Hopefully this new development will increase the amenities ard the area. At the moment, there is none. They mention 3-min walk to Kangar LRT. I think it is 5 min. Further more, this is probably the only viable public transport option at the moment for the location....

azeoprop
06-01-11, 09:40
Official Website with all the site and floor plans. :)
http://www.austville.com.sg/

devilplate
06-01-11, 09:48
dun tink tis one can sell well at 680psf

2824
06-01-11, 12:57
Think that park green or the rivervale wuld be better choices.

dun tink tis one can sell well at 680psf

devilplate
06-01-11, 13:04
Think that park green or the rivervale wuld be better choices.

rivervale still can walk to MRT....but facade old fashion liao lor

mightyleftfoot
06-01-11, 13:18
Not impressed at all by the website.
Gonna be a very hard sell.:tsk-tsk:

bargain hunter
06-01-11, 19:13
floorplan layout is terrible. the developer doesn't know what hdb upgraders want. bedrooms are so small. Prive's is so much better.

amk
06-01-11, 19:29
Wow all bedrooms other than master can only fit a single bed ! Not even trying to draw a bigger room at least on paper...so it's really going to be small..

Sorry never really follow the EC development. Is this a trend ? Who else is doing this ?

maisonjai
06-01-11, 20:11
common rooms can accomodate queen bed place against the wall, layout drawing is a super single. MB can make do with a king too. There's no oversize A/C ledge, underground carpark, compressed marble ok la.

Duno got crocodile dundee to welcome visitors or not. i agree that Prive would be a better pick.

kane
06-01-11, 20:45
EC used to be same size as hdb with facilities. Now its size follows condo more than hdb.

azeoprop
06-01-11, 21:07
Still the same size as HDB, just a realignment now since HDB don't produce 130sqm ++ exec flats anymore. So:

2 bedroom unit = HDB 3 room flat
3 bedroom unit = HDB 4 room flat
3+1/ 4 bedroom unit = HDB 5 room flat

:beats-me-man:

2824
17-01-11, 08:42
Went down over the weekend to take a look at this.

Not much of a crowd on that morning (less than 10 grps viewing), ask agent for sales figure but id not want to say (does not look like there were a substantial number of units sold).

one interesting feature to note is that of the Yabby pond, where kids can go and try their hand at Yabby fishing. Although i doubt how practical is this? Color theme is definitely like australia outback (maybe that's why the no of pple also not so many :o ). Pricingwise 3 bedder (1033 sq ft) starting from 740 - 760k) not cheap.

Quota for 2nd timers already full so gotta wait for 1 mth later.

What i don't like about it is that in the 3 bed showflat, there is only 1 white velcro dot to demarcate the end of the living room and start of balcony, making it more spaceous. Most other showflats at least do up the balcony to give you an actual feel.

devilplate
17-01-11, 10:02
Pricingwise 3 bedder (1033 sq ft) starting from 740 - 760k) not cheap.



how come so EX!!! i tot they say from 650psf+-??

2824
17-01-11, 12:54
650psf + maybe for the 3+study & the 4 bedder.




how come so EX!!! i tot they say from 650psf+-??

Kengar
18-01-11, 21:22
Sales of Austville Residences hit by cooling measures

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1105454/1/.html

Quite surprised that this EC is affected by the cooling measures.
Thought the interested buyers be mainly first-timers and HDB upgraders who would be least affected.

devilplate
18-01-11, 22:34
Sales of Austville Residences hit by cooling measures

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1105454/1/.html

Quite surprised that this EC is affected by the cooling measures.
Thought the interested buyers be mainly first-timers and HDB upgraders who would be least affected.

canopy aso poor sales b4 measures...so u noe y liao? :p

sleek
18-01-11, 23:01
Location? Location? Location? ;)


canopy aso poor sales b4 measures...so u noe y liao? :p

2824
19-01-11, 08:20
First 100 had quite a number of freebies thrown in by developer including fridge and washer......


Sales of Austville Residences hit by cooling measures

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1105454/1/.html

Quite surprised that this EC is affected by the cooling measures.
Thought the interested buyers be mainly first-timers and HDB upgraders who would be least affected.

DC33_2008
19-01-11, 08:24
Some of these people with fully paid up prefers to put their money in private property following the measures with the view of a correction. They may miss the boat if they go via the EC path.
First 100 had quite a number of freebies thrown in by developer including fridge and washer......

fooblackie
19-01-11, 08:37
Location? Location? Location? ;)

My view as a ex-resident of Park Green which is the EC just beside Austville.

Personally, I think this 3rd EC project side by side may create some over-supply for pple eyeing this region to stay. you have a choice of a 10 yr, 6 yr and a (-3) yr EC project to choose.

Price-wise, they are all pretty close. If you can wait for another 3 yrs, pls go for Austville and if you can afford the slight premium in prices.

The location is something you have to be aware. There is literally zero amenities within 5 min walk. The walk to the LRT should be 5 min (impossible to reach in 3 min as advertised).

Unless the govt does something quickly, things will remain status quo cos they usually heck-care private developments. For e.g. to get to the punngol park, be prepared to walk > 10 min cos there is no bridge except the one near to the Rivervale.

The view to the Punngol Park will be the greatest highlight if you choose to buy Austville. Get a mid to high floor (> 7 flr) and you should be able to see the entire landscape of Punggol Park. It can be quite breathtaking!

The near exit to KPE is a plus. You can get to Town in under 15 min if traffic permits.

If I am interested party, I will wait for awhile to see if the prices will drop. No immediate hot demand for the units so can afford to wait I guess....

Just my 2 :2cents:

terence
19-01-11, 08:39
location is a key factor. Canopy and Austville are not in sight of any MRT station...

2824
19-01-11, 08:47
Agent say actually walkable from Sengkang MRT :doh: or can take LRT and still walk.

Layout wise quite efficient though 4 bedder only 1200++ sqft. Good for those with big familes


location is a key factor. Canopy and Austville are not in sight of any MRT station...

fooblackie
19-01-11, 08:50
Agent say actually walkable from Sengkang MRT :doh: or can take LRT and still walk.

Layout wise quite efficient though 4 bedder only 1200++ sqft. Good for those with big familes

Of course walkable! maybe 20min? haha... it is more than 1.5km from seng kang MRT. Superb sales talk. The nearest mrt is actually Buangkok. I walked to Park Green in 12 -15 min. Add another 2-3 min for Austville.

4 Bedder - 1200 sqf? sounds like quite cramp leh. My park green unit of 1200 sqf is so compressed in all aspects - living, dining and all bedrooms. Maybe it's cos Austville has no balcony and planters?

2824
19-01-11, 09:01
Exactly, buangkok maybe still can but seng kang.

For the 4 bedders, there is 1 balcony but the junior suite has no bathroom. There are no planters.


Of course walkable! maybe 20min? haha... it is more than 1.5km from seng kang MRT. Superb sales talk. The nearest mrt is actually Buangkok. I walked to Park Green in 12 -15 min. Add another 2-3 min for Austville.

4 Bedder - 1200 sqf? sounds like quite cramp leh. My park green unit of 1200 sqf is so compressed in all aspects - living, dining and all bedrooms. Maybe it's cos Austville has no balcony and planters?

fooblackie
19-01-11, 09:56
Exactly, buangkok maybe still can but seng kang.

For the 4 bedders, there is 1 balcony but the junior suite has no bathroom. There are no planters.

To be more realistic, there are not many 4 bedders at about the 1200 sqf size. More realistic is the 3+1.

So, dun expect such units to be spacious. In my mind, a 4 bedder should be at 1400 sqf to be "right-sized". If not, it may be a 4 bedder which compromises every other aspect - small hall, rooms, kitchen etc...

In reality, not many families need 4 bedrooms so selling perspective may be reduced. So, dun be overly eager to get $ worth by getting a under-sized 4 bedders...

azeoprop
19-01-11, 10:52
Maybe the recent flood disaster in Australia affect this Austville in a negative way as well. :rolleyes:

mightyleftfoot
10-02-11, 18:18
went down yesterday. Almost no one.
Launch for 2nd timers this sunday.
A low floor unit is asking 660psf.
Not impressed with this.
For upgraders, unless they fully pay up their current loan, it is difficult for them cash flow wise, 20% up front, plus 20% progressive payments.
Unless they sell up the current unit and rent a place, you need cash rich buyers.
And the irony? Only pple not earning above 10K eligible.
How does that works??? :doh: :doh:

2824
10-02-11, 18:21
They can opt for deferred payment scheme.

spyro
10-02-11, 23:30
For upgraders, unless they fully pay up their current loan, it is difficult for them cash flow wise, 20% up front, plus 20% progressive payments.
Unless they sell up the current unit and rent a place, you need cash rich buyers.
And the irony? Only pple not earning above 10K eligible.
How does that works??? :doh: :doh:[/quote]

Thought its a EC? For EC its only 10% cash & the 10% cpf right? The rest can defer payment or progressive..:confused:

hyenergix
11-02-11, 05:24
went down yesterday. Almost no one.
Launch for 2nd timers this sunday.
A low floor unit is asking 660psf.
Not impressed with this.
For upgraders, unless they fully pay up their current loan, it is difficult for them cash flow wise, 20% up front, plus 20% progressive payments.
Unless they sell up the current unit and rent a place, you need cash rich buyers.
And the irony? Only pple not earning above 10K eligible.
How does that works??? :doh: :doh:

The government & developers seem to have over-estimated the demand for ECs. Those earning close to $10k can easily afford a $1mil private condo elsewhere with much better location (e.g. Lakefront). With more private condos launching this year, many units in ECs at ulu places are likely to remain unsold. The developers may have no choice but to give discounts or vouchers later.

kingkong1984
11-02-11, 05:44
Developers would hold prices till Top as far as they can help it.
Expect pre Top special offers nearer to TOP

fooblackie
11-02-11, 08:12
went down yesterday. Almost no one.
Launch for 2nd timers this sunday.
A low floor unit is asking 660psf.
Not impressed with this.
For upgraders, unless they fully pay up their current loan, it is difficult for them cash flow wise, 20% up front, plus 20% progressive payments.
Unless they sell up the current unit and rent a place, you need cash rich buyers.
And the irony? Only pple not earning above 10K eligible.
How does that works??? :doh: :doh:

not surprised by the lukewarm response. 2 main factors - the pricing is only slightly cheaper than those in better locations (esparina). Furthermore, if you like to stay in this location, there are choices of 2 other condo beside it. These are not very old projects too.

Those interested in this project should wait since much of the units are still available.

The developers may need to crack their brains to get the sales moving as the progressive payments will ease their cashflow for construction and minimise their leverage costs.

rattydrama
12-02-11, 00:29
ulu with no mrt, not near 1km of primary school + 5 year MOP if put that into full picture better to consider private resale condo.

near LRT is still not good enough? Tennery above LRT? Oops!

kingkong1984
12-02-11, 10:38
ulu with no mrt, not near 1km of primary school + 5 year MOP if put that into full picture better to consider private resale condo.

near LRT is still not good enough? Tennery above LRT? Oops!
LRT lousy. Must be the real thing. Money Return Trade. Teeny ok lah,next to it is the real thing.

fooblackie
14-02-11, 08:53
LRT lousy. Must be the real thing. Money Return Trade. Teeny ok lah,next to it is the real thing.

yeap. Tennery is supposedly next to the MRT, in 4 yrs time.

H/w, still cannot u/s how it can be priced >1.2psf given that the MRT and the mall is the only selling pt.

2824
14-02-11, 10:08
If greenwich no mrt & Lrt already @ 1100 psf just becoz it is soho, the xtra 100 -200 psf for the LRT /MRT dun look expensive.


yeap. Tennery is supposedly next to the MRT, in 4 yrs time.

H/w, still cannot u/s how it can be priced >1.2psf given that the MRT and the mall is the only selling pt.

gohsoonk
14-02-11, 12:45
Looking at a 3 bedroom, extra 100 -200 psf is equal to a nice car or 2 small simple cars.

Much better than cramming into mrt.


If greenwich no mrt & Lrt already @ 1100 psf just becoz it is soho, the xtra 100 -200 psf for the LRT /MRT dun look expensive.

wacko
15-02-11, 11:27
Looking at a 3 bedroom, extra 100 -200 psf is equal to a nice car or 2 small simple cars.

Much better than cramming into mrt.are you someone who pays for your property in full up front?

gohsoonk
17-02-11, 23:09
I know what you are trying to drive at.

It really depends on whether you are buying for investing or staying. I am looking from the point of staying. If you are staying and only have only 1 house, I would go for a cheaper house and get a car. Beats the MRT anytime.


are you someone who pays for your property in full up front?

wacko
18-02-11, 11:50
I know what you are trying to drive at.

It really depends on whether you are buying for investing or staying. I am looking from the point of staying. If you are staying and only have only 1 house, I would go for a cheaper house and get a car. Beats the MRT anytime.

what am I trying to drive at?

gohsoonk
21-02-11, 12:51
Since not paying upfront, where is the savings...


what am I trying to drive at?

gnomish
17-04-11, 21:26
wonder how's the sales now:ashamed1:

DaytonaSS
17-04-11, 21:26
wonder how's the sales now:ashamed1:

URA figures shows no good.....

reporter2
08-05-17, 20:41
Austville residents seeking compensation for alleged defects

May 1, 2017

Wong Siew Ying


Unhappy home owners at the Austville Residences executive condominium (EC) in Sengkang have entered into mediation with the developer and the main contractor over alleged defects and missing amenities.

The Straits Times understands that the mediation - in which proceedings have been kept confidential - took place last month.

The management corporation, which is acting on behalf of the residents, is seeking compensation from Maxlee Development and Greatearth Construction, claiming that the two firms are responsible for a number of alleged faults in the condo's common areas.

These are said to include warped wooden decks at the clubhouse and multiple cracks in the ceiling of the two-storey underground carpark which leaks when it rains.

"We are claiming for defect rectification and missing amenities. So far, the condo management has spent about $100,000 to fix some of the defects," Mr Frankie Lim, chairman of the management corporation, told The Straits Times.

He said the condo management has paid for urgent works such as replacing the warped wooden decking at the clubhouse and a water pipe in the basement carpark that burst in May last year. The developer has made repairs to certain sections of the carpark ceiling, but it still leaks, Mr Lim said.

The condo management declined to disclose the compensation sum that it is pursuing.

The 99-year leasehold EC obtained its temporary occupation permit in 2014. It has six towers with a total of 540 units.

The Sengkang project was launched for sale in 2011 at an average price of about $680 per sq ft.

Greatearth told The Straits Times it has been committed to fixing genuine building defects in the development since the project was completed. "Up until today, and even though the one-year defect liability period has expired, we remain ready, willing and committed to rectifying all genuine building defects that have been brought to our attention," said a spokesman.

Maxlee Development and Greatearth Construction are subsidiaries of integrated building services company Greatearth.

The spokesman added: "The developer had also met the residents... to address issues raised... that were not related to genuine building defects in the development."

The firm said it is unable to comment further and will let court proceedings take their course.

The condo management served a writ of summons against Maxlee Development and Greatearth Construction last June but all parties decided to enter into mediation while waiting for a trial date to be fixed.