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http://www.straitstimes.com/archive/saturday/premium/money/story/condos-near-the-city-close-mrt-20130622
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Condos near the city, close to MRT
Checking out the page views on the STProperty website gives an instant snapshot of what projects buyers are keen on. This week, we look at developments in Districts 11 and 12 that have drawn the most attention.
Published on Jun 22, 2013
BUYERS are drawn to the central location, convenience and accessibility to amenities in District 11, which covers the Chancery, Bukit Timah, Dunearn Road and Newton areas.
The Newton MRT station on the North-South Line is one stop away from the Orchard Road station, right in the heart of Singapore's most famous shopping belt.
Nearby Newton Food Centre also draws tourists with its local hawker fare.
The five condominium projects in District 11 with the highest number of page views on STProperty's website were medium- sized developments with no more than 205 units.
Data from the Urban Redevelopment Authority also revealed that some of the projects had seen five or fewer units transacted from December to May.
Lincoln Suites - located just behind United Square shopping mall - had the most number of page views among those projects in the district.
The 175-unit freehold project also had the highest average asking price of $2,381 per sq ft for its one-, two- and three-bedder units.
It was in the news for the highest transacted price for a shoebox apartment last year.
A 484 sq ft studio unit fetched $1.43 million or around $2,900 psf.
Lincoln Suites is still under construction.
Another project that has attracted page views is the completed 99-year leasehold Rochelle at Newton.
Its average asking price is around $1,650 psf, a shade higher than the transacted price in the last six months of around $1,537 psf.
In District 12, Trevista in Toa Payoh was the top project by page views.
The 99-year leasehold project is popular with tenants as it is within walking distance to Braddell MRT station, and there are schools nearby such as the Convent of the Holy Infant Jesus.
The average asking price is around $1,515 psf while the transacted price in the last six months is estimated to be $1,418 psf.
Lincoln Suites sits on a narrow stripe of land, sandwiched between adjacent towers in all directions; its view is mostly blocked. If it can fetch an average asking price of $2,381 per sq ft, then the price of those condo. development that sits on larger plot of lands, with better and unblocked view, is comparatively undervalue.
why Lincoln Suites can fetch a lot better price than those condo. that sits on larger plot of land and whose views are not blocked? Is it because of Its excellent marketing? Eye-catching features like GYM on sky link bridge?
Jonathan0503
24-06-13, 20:05
Lincoln Suites sits on a narrow stripe of land, sandwiched between adjacent towers in all directions; its view is mostly blocked. If it can fetch an average asking price of $2,381 per sq ft, then the price of those condo. development that sits on larger plot of lands, with better and unblocked view, is comparatively undervalue.
Agree. Why are these people missing those condos nearer to orchard road likely Killiney and RV areas?
TheOnlyGayInTheVillage
24-06-13, 21:34
Please dont take such articles seriously...
They are just marketing fodder for STProperty portal.
Agree. Why are these people missing those condos nearer to orchard road likely Killiney and RV areas?
Might as well ask why people willing to pay $1,650 for Jurong? Why not buy Bishan? Or buy Balestier FH?
Imperfect market! That's why we got chance to buy into areas which are undervalued. If everyone as smart as you, u won't be here lo!
Or rather we won't be here lo!
DKSG
Please dont take such articles seriously...
They are just marketing fodder for STProperty portal.
True. This happens when media like this one has it's foot in other sectors.
Might as well ask why people willing to pay $1,650 for Jurong? Why not buy Bishan? Or buy Balestier FH?
Imperfect market! That's why we got chance to buy into areas which are undervalued. If everyone as smart as you, u won't be here lo!
Or rather we won't be here lo!
DKSG
Bother, history is evolving.
Nowadays, there are Bishan and bukit Timah people thinking that Queenstown and Clementi are getting more prime than Bishan and some other once prime locations. Of course, I also think Bishan is undervalued.
Likewise, through the history, Kallang people have seen Kallang was overtaken by Clark Quay, Clark Quay people is seeing their position taken over by Marina Bay. Who knows whether Harbour Front will take over Marina bay in future?
JLD is unlikely to be as prime as these places, but it will get much better than today.
Another thing is that not every person is so knowledgable as you. Therefore, they dare only to buy at the places that they are familiar with. There may be pent-up demand in Jurong East.
Bother, history is evolving.
Nowadays, there are Bishan and bukit Timah people thinking that Queenstown and Clementi are getting more prime than Bishan and some other once prime locations. Of course, I also think Bishan is undervalued.
Likewise, through the history, Kallang people have seen Kallang was overtaken by Clark Quay, Clark Quay people is seeing their position taken over by Marina Bay. Who knows whether Harbour Front will take over Marina bay in future?
JLD is unlikely to be as prime as these places, but it will get much better than today.
Another thing is that not every person is so knowledgable as you. Therefore, they dare only to buy at the places that they are familiar with. There may be pent-up demand in Jurong East.
Pent-up demand (no major launch there for 3 years)
= Tons of savings + Increase in family members who need more space + Big desire to upgrade social status :D
Bother, history is evolving.
Nowadays, there are Bishan and bukit Timah people thinking that Queenstown and Clementi are getting more prime than Bishan and some other once prime locations. Of course, I also think Bishan is undervalued.
Likewise, through the history, Kallang people have seen Kallang was overtaken by Clark Quay, Clark Quay people is seeing their position taken over by Marina Bay. Who knows whether Harbour Front will take over Marina bay in future?
JLD is unlikely to be as prime as these places, but it will get much better than today.
Another thing is that not every person is so knowledgable as you. Therefore, they dare only to buy at the places that they are familiar with. There may be pent-up demand in Jurong East.
The development in Clark Quay and Robertson Quay is almost completed and is getting matured,while Kallang area has not started yet. It will have a different but distinctive character than that of Robertson Quay. However, which one will be more upmarket, only time will tell. Being the only River Basin in S'pore that is located very close to the new CBD, its unique features will be exploited for maximum profit. After the completion of the embankment of Rochor Canal and Sport Hub, I believe more land sale activities will be seen in this area.
The development in Clark Quay and Robertson Quay is almost completed and is getting matured,while Kallang area has not started yet. It will have a different but distinctive character than that of Robertson Quay. However, which one will be more upmarket, only time will tell. Being the only River Basin in S'pore that is located very close to the new CBD, its unique features will be exploited for maximum profit. After the completion of the embankment of Rochor Canal and Sport Hub, I believe more land sale activities will be seen in this area.
I think you misunderstood me.
Actually, dating back to the 15th century, the most properous place in SG was around the Kallang rivier.
Might as well ask why people willing to pay $1,650 for Jurong? Why not buy Bishan? Or buy Balestier FH?
Imperfect market! That's why we got chance to buy into areas which are undervalued. If everyone as smart as you, u won't be here lo!
Or rather we won't be here lo!
DKSG
Told you newton area is already 2900 psf liao. J gateway 1700psf is cheap
The development in Clark Quay and Robertson Quay is almost completed and is getting matured,while Kallang area has not started yet. It will have a different but distinctive character than that of Robertson Quay. However, which one will be more upmarket, only time will tell. Being the only River Basin in S'pore that is located very close to the new CBD, its unique features will be exploited for maximum profit. After the completion of the embankment of Rochor Canal and Sport Hub, I believe more land sale activities will be seen in this area.
There is really nothing at killing basin area beside sport hub, which generate buzz and crowd but not jobs. 55000 come, spend 3 hours 55000 go home. And let's not forget that there are many hdb estate around kallang are for low income citizens and touristbattraction geylang. Will government move them out? Unlikely because it will be a political suicide for gov. And also where to go?
Gov has already made 2 failed attempt to sell a hotel site so they will likely to wait and see how the sport hub take shape before deciding their next move
I think you misunderstood me.
Actually, dating back to the 15th century, the most properous place in SG was around the Kallang rivier.
I thought it w mount Sophia area
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