reporter2
05-01-12, 18:07
http://www.businesstimes.com.sg/sub/news/story/0,4574,472386,00.html?
Published January 5, 2012
Developers launch a slew of projects before CNY
By MINDY TAN
DEVELOPERS are off to a running start in 2012, rolling out a host of housing projects before Chinese New Year.
http://www.businesstimes.com.sg/mnt/media/image/launched/2012-01-05/BT_IMAGES_MTDBSS05.jpg
Parkland Residences: E-applications for the DBSS development start tomorrow and end on Jan 10
Qingjian Group will be launching their 99-year leasehold condominium Riversound Residence on Saturday, while City Developments Ltd (CDL) will open applications for its executive condominium (EC) - a public-private housing hybrid - The Rainforest from today. On the public front, Low Keng Huat (LKH) will be unveiling Parkland Residences under the Design, Build, and Sell Scheme (DBSS) tomorrow.
PropNex Realty CEO Mohamad Ismail noted that it is unusual for developers to launch new projects just before Chinese New Year, given that it is traditionally a quieter period.
Developers could be launching early in light of the government's reiteration that it will introduce measures accordingly to keep Singapore's property market stable, pointed out Ku Swee Yong, chief executive of International Property Advisor (IPA).
'I think developers are trying to launch as soon as possible to reduce their financial risk, and reduce the risk of having more new policies (aimed at cooling the market) introduced,' he said.
Knight Frank's head of research and consultancy Png Poh Soon added: 'Since the implementation of the fifth round of cooling measures, developers may be looking to test market sentiment but in a cautious manner. One direct way is to offer residential projects that are attractively priced and with strong attributes to see how buyers react.'
LKH's 680-unit Parkland Residences, located along Upper Serangoon Road, consists of four 18-storey towers.
Prices of three-room flats (721 sq ft) range from $359,000 to $404,000; four-room units (990 sq ft) range from $485,000 to $571,000; and five-room units (1,173 sq ft) range from $606,000 to $676,000. Five-room premium units (1,206 sq ft) - with four bedrooms - range from $608,000 to $706,000. This translates to an average selling price of $549 psf.
R'ST Research director Ong Kah Seng noted: 'The pricing on the project is considered reasonable and still quite affordable for eligible buyers, but not significantly attractive for buyers who are on the sidelines and those at the crossroads of deciding between buying a public flat, DBSS flat, or EC.'
E-applications for Parkland Residences start tomorrow and end on Jan 10.
Separately, 99-year leasehold EC The Rainforest, located along Choa Chu Kang Avenue 3, consists of 466 apartments, of which the majority are three-bedroom units.
Developed by CDL and TID - a joint venture between Hong Leong Group and Mitsui Fudosan - prices for units range from approximately $601,000 for a two-bedroom plus study unit (818 sq ft), from $688,000 for a three-bedroom unit (947 sq ft), and from $896,000 for a four- bedroom unit (1,238 sq ft).
A two-bedroom plus study unit ranges from 818 to 1,033 sq ft while penthouses range from 1,819 to 2,174 sq ft. Average selling price for The Rainforest ranges from $720 to $730 psf.
'Resale prices for five-room HDB range from $450,000 to $510,000 while executive HDB flat types are transacting from $520,000 to $600,000. The gap is not wide and most upgraders may look to purchase while locking in at low attractive mortgage rates. Clearly, the pricing of The Rainforest has these upgraders in mind,' said Knight Frank's Mr Png.
Applications for eligible EC buyers are open from today till Jan 9. Bookings will be conducted on Jan 11.
On the private market front, Qingjian Group's 590-unit Riversound Residence will be launched on Saturday.
Situated at Sengkang East Avenue, the 590-unit development comprises six 18-storey blocks. Unit sizes range from 452 sq ft for a one-bedroom unit; 1,184 sq ft for a three-bedroom dual-key unit; and between 2,508 and 2,734 sq ft for a four-bedroom penthouse.
Units are priced at an average of about $850 psf, with early-bird buyers entitled to attractive discounts.
Published January 5, 2012
Developers launch a slew of projects before CNY
By MINDY TAN
DEVELOPERS are off to a running start in 2012, rolling out a host of housing projects before Chinese New Year.
http://www.businesstimes.com.sg/mnt/media/image/launched/2012-01-05/BT_IMAGES_MTDBSS05.jpg
Parkland Residences: E-applications for the DBSS development start tomorrow and end on Jan 10
Qingjian Group will be launching their 99-year leasehold condominium Riversound Residence on Saturday, while City Developments Ltd (CDL) will open applications for its executive condominium (EC) - a public-private housing hybrid - The Rainforest from today. On the public front, Low Keng Huat (LKH) will be unveiling Parkland Residences under the Design, Build, and Sell Scheme (DBSS) tomorrow.
PropNex Realty CEO Mohamad Ismail noted that it is unusual for developers to launch new projects just before Chinese New Year, given that it is traditionally a quieter period.
Developers could be launching early in light of the government's reiteration that it will introduce measures accordingly to keep Singapore's property market stable, pointed out Ku Swee Yong, chief executive of International Property Advisor (IPA).
'I think developers are trying to launch as soon as possible to reduce their financial risk, and reduce the risk of having more new policies (aimed at cooling the market) introduced,' he said.
Knight Frank's head of research and consultancy Png Poh Soon added: 'Since the implementation of the fifth round of cooling measures, developers may be looking to test market sentiment but in a cautious manner. One direct way is to offer residential projects that are attractively priced and with strong attributes to see how buyers react.'
LKH's 680-unit Parkland Residences, located along Upper Serangoon Road, consists of four 18-storey towers.
Prices of three-room flats (721 sq ft) range from $359,000 to $404,000; four-room units (990 sq ft) range from $485,000 to $571,000; and five-room units (1,173 sq ft) range from $606,000 to $676,000. Five-room premium units (1,206 sq ft) - with four bedrooms - range from $608,000 to $706,000. This translates to an average selling price of $549 psf.
R'ST Research director Ong Kah Seng noted: 'The pricing on the project is considered reasonable and still quite affordable for eligible buyers, but not significantly attractive for buyers who are on the sidelines and those at the crossroads of deciding between buying a public flat, DBSS flat, or EC.'
E-applications for Parkland Residences start tomorrow and end on Jan 10.
Separately, 99-year leasehold EC The Rainforest, located along Choa Chu Kang Avenue 3, consists of 466 apartments, of which the majority are three-bedroom units.
Developed by CDL and TID - a joint venture between Hong Leong Group and Mitsui Fudosan - prices for units range from approximately $601,000 for a two-bedroom plus study unit (818 sq ft), from $688,000 for a three-bedroom unit (947 sq ft), and from $896,000 for a four- bedroom unit (1,238 sq ft).
A two-bedroom plus study unit ranges from 818 to 1,033 sq ft while penthouses range from 1,819 to 2,174 sq ft. Average selling price for The Rainforest ranges from $720 to $730 psf.
'Resale prices for five-room HDB range from $450,000 to $510,000 while executive HDB flat types are transacting from $520,000 to $600,000. The gap is not wide and most upgraders may look to purchase while locking in at low attractive mortgage rates. Clearly, the pricing of The Rainforest has these upgraders in mind,' said Knight Frank's Mr Png.
Applications for eligible EC buyers are open from today till Jan 9. Bookings will be conducted on Jan 11.
On the private market front, Qingjian Group's 590-unit Riversound Residence will be launched on Saturday.
Situated at Sengkang East Avenue, the 590-unit development comprises six 18-storey blocks. Unit sizes range from 452 sq ft for a one-bedroom unit; 1,184 sq ft for a three-bedroom dual-key unit; and between 2,508 and 2,734 sq ft for a four-bedroom penthouse.
Units are priced at an average of about $850 psf, with early-bird buyers entitled to attractive discounts.