View Full Version : Warm reception expected for Westwood EC site
PROPERTY consultants agree that the executive condominium (EC) site in Westwood Avenue will be warmly received, but getting them to agree on their pricing expectations is another matter.
That site was one of two released for tender yesterday by the government, the other being a 99-year leasehold residential site in Lorong Lew Lian.
With the Westwood site, the cost per square foot per plot ratio (psf ppr) cited as likely by consultants ranged from $285 to $380.
On the lower end of the range was SLP International's executive director Nicholas Mak, who said he expects a top bid of between $285 and $313 psf ppr.
Taking the middle ground is Alice Tan, an associate director for consultancy and research at Knight Frank, who expects the winning bid to come in at between $330 and $360 psf ppr; DTZ's head of research Lee Lay Keng gave a range in the same ballpark - between $325 and $365 psf ppr.
Ms Tan said that she expected "moderately healthy interest" in the site, although there were four other confirmed EC sites on the Government Land Sales Programme in the second half of this year, and one potential site on the reserve list. "The upcoming sites could see stronger interest, given their proximity to train stations."
The Westwood site spans 186,052 sq ft and has a maximum permissible gross floor area of 520,945 sq ft, based on a gross plot ratio of 2.8.
That the area has not seen the launch of many EC sites for more than a decade - other than a recent sale of a site in Yuan Ching Road - supports some consultants' thesis of pent-up demand. The last two ECs in the area, Summerdale and The Floravale, were launched in 1997.
Pent-up demand underpins the bullish expectations of consultants who cited psf ppr prices on the higher end: Orange Tee's head of research Christine Li and Ong Kah Seng, the director at R'ST Research, gave a range of $360 to $380 psf ppr.
Ms Li also said that the tightening of the mortgage-servicing ratio, the lowering of loan tenure and the implementation of the Total Debt Servicing Ratio (TDSR) framework were measures working in favour of the EC market.
Mr Ong noted that 11,329 EC units were sold between Q4 2010 - when ECs were introduced as a housing class - and Q3 this year. This translates to a yearly average of 3,770 EC units sold each year.
Assuming that previously sold EC sites in Yuan Ching Road, Punggol Drive, and Punggol Central are launched by the end of next year, a maximum of 3,110 EC units will become available next year.
"The supply in 2014 may be insufficient to cater to EC buyers, based on an average yearly demand of 3,770 units," said Mr Ong, who noted that this figure does not take into account buyers who applied but failed to land a unit. "Given that the TDSR will encourage prudent buying, and more EC-eligible buyers will opt for ECs over private condominium units, the recent historical annual demand for ECs should be sustained or grow even stronger going into 2014," he said.
The tender for the Westwood site closes at noon on Jan 7.
The site in Lorong Lew Lian, measuring 150,762 sq ft and with a maximum permissible gross floor area of 452,288 sq ft, was released on the reserve list.
But DTZ's Ms Lee said that the site is unlikely to be triggered in the near term.
Mr Ong, agreeing, said that developers might not trigger the site for sale till the second quarter of next year, given the existing cautious sentiment.
Assuming the site is triggered next year, Mr Ong said that he expects about five bids for the site, with an expected top land bid of between $430 and $490 psf ppr.
SLP International's Mr Mak said that he expects the site to achieve a land price of $620-720 psf ppr, assuming the site was launched for sale today.
The two residential sites are expected to yield 980 housing units.
This site has got good potential. Assuming construction starts 2015, TOP 2018, + 5 years MOP, can sell in 2023. About the same time JRL will be ready.
http://img850.imageshack.us/img850/2843/6oxk.jpg
clemdale24
01-11-13, 07:30
This site has got good potential. Assuming construction starts 2015, TOP 2018, + 5 years MOP, can sell in 2023. About the same time JRL will be ready.
http://img850.imageshack.us/img850/2843/6oxk.jpg
Good potential? u have got to be kidding. Its in a terrible location. anything in jurong and i wont touch, what more in jurong's north west where amenities are few and far between, but polluted air is everywhere.
Boonlay already sucks, with its proximity to the city and the fact that it is over populated, but at least it still has a shopping centre. And this? westwood what?!!! never heard of this crap. Oh, but if u told me, next to Jalan Bahar and the cemeteries/ columbariams, yes i know now.
Anything jurong - stay away, cause its gonna be over priced. This one probably wont be, but no way im recommending this to anyone i know.
Good potential? u have got to be kidding. Its in a terrible location. anything in jurong and i wont touch, what more in jurong's north west where amenities are few and far between, but polluted air is everywhere.
Boonlay already sucks, with its proximity to the city and the fact that it is over populated, but at least it still has a shopping centre. And this? westwood what?!!! never heard of this crap. Oh, but if u told me, next to Jalan Bahar and the cemeteries/ columbariams, yes i know now.
Anything jurong - stay away, cause its gonna be over priced. This one probably wont be, but no way im recommending this to anyone i know.
ignorant and childish...
ignorant and childish...
ignorant, childish and kam gong
ignorant, childish and kam gong
childish or kamgong, its the market will decide the value of the site, not fools who go around trolling in this forum.
If you want to impress anyone here, then tell us a good site which you think has good potential loh.
childish or kamgong, its the market will decide the value of the site, not fools who go around trolling in this forum.
If you want to impress anyone here, then tell us a good site which you think has good potential loh.
why would i even bother to impress morons who can't even utilize stats or facts to prove that it is a good site? govt announced the exact locations of the stations?
please lah.........try harder
"Stupidity shadows the moron" - Sir A.W.
why would i even bother to impress morons who can't even utilize stats or facts to prove that it is a good site? govt announced the exact locations of the stations?
please lah.........try harder
"Stupidity shadows the moron" - Sir A.W.
When the location of the station is announced do you think you have got the chance to make money?
Trolls are only good at cheap talk and offer nothing more than slandering. Like I said before please don't reply my post just read my signature. And if you have any other sites which you think has good potential by all means start a thread. But I honest doubt an armchair critics like you will be capable of doing that.
And I sincerely hope you can prove me wrong.
When the location of the station is announced do you think you have got the chance to make money?
Trolls are only good at cheap talk and offer nothing more than slandering. Like I said before please don't reply my post just read my signature. And if you have any other sites which you think has good potential by all means start a thread. But I honest doubt an armchair critics like you will be capable of doing that.
And I sincerely hope you can prove me wrong.
firstly, how to prove you wrong when the bloody locations are all fictitious? secondly, you might as well postulate that the mrt station will be located right beneath the development. after all, talk is cheap.
don't need to look further - the other lor lew lian plot is a million times better than this far flung ulu westwood location.
and please, who's the moron who claim cremation is as toxic as heavy industry and driving is the same as breathing vehicle exhaust directly from the pipes?
"a medusa's stare will turn one into stone, but Ringo's blink will turn you into a moron for eternity" - Sir A.W.
This site has got good potential. Assuming construction starts 2015, TOP 2018, + 5 years MOP, can sell in 2023. About the same time JRL will be ready.
rev R33, since u can make so many prediction of the potential & sellability, perhaps u would like to share wif us yr selling price projection in 2023.
ec locations are always no good, it tend to be far from mrt and amenities.
but of course, with subsidies from govt, it's always a good buy for own stay.
so far the only ec that i know that is near to mrt is the one at buangkok, esparina.
firstly, how to prove you wrong when the bloody locations are all fictitious? secondly, you might as well postulate that the mrt station will be located right beneath the development. after all, talk is cheap.
don't need to look further - the other lor lew lian plot is a million times better than this far flung ulu westwood location.
and please, who's the moron who claim cremation is as toxic as heavy industry and driving is the same as breathing vehicle exhaust directly from the pipes?
"a medusa's stare will turn one into stone, but Ringo's blink will turn you into a moron for eternity" - Sir A.W.
Why would I want to waste my time sharing what I know when you can't even make up your mind if gospel is true.
Like I said don't waste my time. If you want to impress me try posting something with substance on your own instaead if acting like armchair critics
Why would I want to waste my time sharing what I know when you can't even make up your mind if gospel is true.
Like I said don't waste my time. If you want to impress me try posting something with substance on your own instaead if acting like armchair critics
WAHHAHAHAHAHAHA
still harping on the gospel when it is only a metaphor?!? kam gong
If you want to impress us, try posting something with substance
ec locations are always no good, it tend to be far from mrt and amenities.
but of course, with subsidies from govt, it's always a good buy for own stay.
so far the only ec that i know that is near to mrt is the one at buangkok, esparina.
No always the case and certain lta won't purposely plan their station away from EC. Ultimately anything that is leasehold will be in the government interest.
WAHHAHAHAHAHAHA
still harping on the gospel when it is only a metaphor?!? kam gong
If you want to impress us, try posting something with substance
Didn't you read what I said. Dont be an armchair critic. If you have something valuable to share then post something of your own. But of course we know your limitation and that's is not going to happen.
clemdale24
01-11-13, 11:05
firstly, how to prove you wrong when the bloody locations are all fictitious? secondly, you might as well postulate that the mrt station will be located right beneath the development. after all, talk is cheap.
don't need to look further - the other lor lew lian plot is a million times better than this far flung ulu westwood location.
and please, who's the moron who claim cremation is as toxic as heavy industry and driving is the same as breathing vehicle exhaust directly from the pipes?
"a medusa's stare will turn one into stone, but Ringo's blink will turn you into a moron for eternity" - Sir A.W.
i cannot agree with you more.
all these ficticious stations, sigh...
lor lew lian, while the name of the street sounds weird, is actually in a not bad location. near serangoon, not too far from city. on the other hand, westwood sounds atas, but alas, we all know where it is. i think even ur ficticious JRL cannot save this almost unliveable area. last place i would ever choose, tyvm.
rymccondo77
01-11-13, 11:10
ec locations are always no good, it tend to be far from mrt and amenities.
but of course, with subsidies from govt, it's always a good buy for own stay.
so far the only ec that i know that is near to mrt is the one at buangkok, esparina.
Prive & Twin Waterfalls are close to Punggol MRT.
Ecopolitan and Waterfall also not too far from Punggol MRT - around 10 to 15 minutes walk.
I staying in westwood..can say this place really sucks.
Everynight, you will smell shit smell cos it is facing the farm area
Only 2 buses go to interchange
Far from jurong point
no market nearby unless you count sheng shiong..
Prive & Twin Waterfalls are close to Punggol MRT.
Ecopolitan and Waterfall also not too far from Punggol MRT - around 10 to 15 minutes walk.
thanks for pointing out.. my info is very outdated. :ashamed1:
I staying in westwood..can say this place really sucks.
Everynight, you will smell shit smell cos it is facing the farm area
Only 2 buses go to interchange
Far from jurong point
no market nearby unless you count sheng shiong..
1) Which farm area are you referring to? Right next to Westwood is Cleantech Park, and on the other side, it will be Wenya Industrial park, which Google has got a data center built.
2) Thats the reason why LTA will most likely to built a MRT station near by. Speculation is its either at Westwood or Gek Poh, before turning into Cleantech Park
3) Beside Sheng Shiong, isnt there another super market food court etc at Gek Poh Shopping Center.
clemdale24
01-11-13, 12:27
I staying in westwood..can say this place really sucks.
Everynight, you will smell shit smell cos it is facing the farm area
Only 2 buses go to interchange
Far from jurong point
no market nearby unless you count sheng shiong..
Thank u for your honest opinion.
See this ringo?
Wunderkind
01-11-13, 13:17
1) Which farm area are you referring to? Right next to Westwood is Cleantech Park, and on the other side, it will be Wenya Industrial park, which Google has got a data center built.
2) Thats the reason why LTA will most likely to built a MRT station near by. Speculation is its either at Westwood or Gek Poh, before turning into Cleantech Park
3) Beside Sheng Shiong, isnt there another super market food court etc at Gek Poh Shopping Center.
Bro Ringo,
You are spot on.
Always wonder how did you manage to get these facts.
The MRT is more likely to be built at Westwood than Gek Poh as there is huge land around the area for future development.
http://www.businesstimes.com.sg/specials/property/warm-reception-expected-westwood-ec-site-20131101
Published November 01, 2013
Warm reception expected for Westwood EC site
But other released site at Lorong Lew Lian unlikely to be triggered soon
By Mindy Tan
[email protected]
PROPERTY consultants agree that the executive condominium (EC) site in Westwood Avenue will be warmly received, but getting them to agree on their pricing expectations is another matter.
That site was one of two released for tender yesterday by the government, the other being a 99-year leasehold residential site in Lorong Lew Lian.
With the Westwood site, the cost per square foot per plot ratio (psf ppr) cited as likely by consultants ranged from $285 to $380.
On the lower end of the range was SLP International's executive director Nicholas Mak, who said he expects a top bid of between $285 and $313 psf ppr.
Taking the middle ground is Alice Tan, an associate director for consultancy and research at Knight Frank, who expects the winning bid to come in at between $330 and $360 psf ppr; DTZ's head of research Lee Lay Keng gave a range in the same ballpark - between $325 and $365 psf ppr.
Ms Tan said that she expected "moderately healthy interest" in the site, although there were four other confirmed EC sites on the Government Land Sales Programme in the second half of this year, and one potential site on the reserve list. "The upcoming sites could see stronger interest, given their proximity to train stations."
The Westwood site spans 186,052 sq ft and has a maximum permissible gross floor area of 520,945 sq ft, based on a gross plot ratio of 2.8.
That the area has not seen the launch of many EC sites for more than a decade - other than a recent sale of a site in Yuan Ching Road - supports some consultants' thesis of pent-up demand. The last two ECs in the area, Summerdale and The Floravale, were launched in 1997.
Pent-up demand underpins the bullish expectations of consultants who cited psf ppr prices on the higher end: Orange Tee's head of research Christine Li and Ong Kah Seng, the director at R'ST Research, gave a range of $360 to $380 psf ppr.
Ms Li also said that the tightening of the mortgage-servicing ratio, the lowering of loan tenure and the implementation of the Total Debt Servicing Ratio (TDSR) framework were measures working in favour of the EC market.
Mr Ong noted that 11,329 EC units were sold between Q4 2010 - when ECs were introduced as a housing class - and Q3 this year. This translates to a yearly average of 3,770 EC units sold each year.
Assuming that previously sold EC sites in Yuan Ching Road, Punggol Drive, and Punggol Central are launched by the end of next year, a maximum of 3,110 EC units will become available next year.
"The supply in 2014 may be insufficient to cater to EC buyers, based on an average yearly demand of 3,770 units," said Mr Ong, who noted that this figure does not take into account buyers who applied but failed to land a unit. "Given that the TDSR will encourage prudent buying, and more EC-eligible buyers will opt for ECs over private condominium units, the recent historical annual demand for ECs should be sustained or grow even stronger going into 2014," he said.
The tender for the Westwood site closes at noon on Jan 7.
The site in Lorong Lew Lian, measuring 150,762 sq ft and with a maximum permissible gross floor area of 452,288 sq ft, was released on the reserve list.
But DTZ's Ms Lee said that the site is unlikely to be triggered in the near term.
Mr Ong, agreeing, said that developers might not trigger the site for sale till the second quarter of next year, given the existing cautious sentiment.
Assuming the site is triggered next year, Mr Ong said that he expects about five bids for the site, with an expected top land bid of between $430 and $490 psf ppr.
SLP International's Mr Mak said that he expects the site to achieve a land price of $620-720 psf ppr, assuming the site was launched for sale today.
The two residential sites are expected to yield 980 housing units.
Bro Ringo,
You are spot on.
Always wonder how did you manage to get these facts.
The MRT is more likely to be built at Westwood than Gek Poh as there is huge land around the area for future development.
That huge land across Westwood will eventually become part of the high tech park which JTC and other government agencies are planning.
http://img36.imageshack.us/img36/2673/au9d.jpg
And based on masterplan there are unlikely to be any more residential development in that area.
http://img203.imageshack.us/img203/139/jyhb.jpg
For Wenya area, I think there will be a branch of JRL connecting to that area, so it is still possible for a Gek Poh station to service the jurong west ave 5 estate.
and the kam gong strikes again!!!! just take the map, circle an area and christen it as site for high tech park?!?!?
:banghead::banghead::banghead:
stupidity has no bounds. high tech park besides a secondary school without supporting nucleus of affiliated industries?!
might as well say boeing going to have a building beside j gateway and build a wind tunnel beneath the mrt station to test new planes
and the kam gong strikes again!!!! just take the map, circle an area and christen it as site for high tech park?!?!?
:banghead::banghead::banghead:
stupidity has no bounds. high tech park besides a secondary school without supporting nucleus of affiliated industries?!
might as well say boeing going to have a building beside j gateway and build a wind tunnel beneath the mrt station to test new planes
Two Things Are Infinite: the Universe and Human Stupidity
Two Things Are Infinite: the Universe and Human Stupidity
awww.....don't rub salt into your own wound. it's alright to recognize your own stupidity.
awww.....don't rub salt into your own wound. it's alright to recognize your own stupidity.
I am sure you know that you are in capable of posting anything that is original or anything that is worth reading. All you are capable of is big talk and talk big.
And btw, so you still believe in gospel but you think the gospel might not be true?
Two Things Are Infinite: the Universe and Human Stupidity
and Ringo's inability to finish quotes properly.......
He talks about originality but continues to copy (although in a retarded and incomplete manner & as usual missing out the most important part) the quotes in my posts..... Irony.
I guess imitation is the sincerest form of flattery...... Just a shame others might start to form the opinion that he's my fanboy.
and Ringo's inability to finish quotes properly.......
He talks about originality but continues to copy (although in a retarded and incomplete manner & as usual missing out the most important part) the quotes in my posts..... Irony.
I guess imitation is the sincerest form of flattery...... Just a shame others might start to form the opinion that he's my fanboy.
awww........i pity you having such a retard in your fanclub.
he's still of the opinion that westwood is better than lor lew lian cos' google is building a data center and the presence of cleantech companies.
what's the link? i guess it's as valid as the neurological linkages in his grey matter synapses - none :D:D
and Ringo's inability to finish quotes properly.......
He talks about originality but continues to copy (although in a retarded and incomplete manner & as usual missing out the most important part) the quotes in my posts..... Irony.
I guess imitation is the sincerest form of flattery...... Just a shame others might start to form the opinion that he's my fanboy.
Still waiting for your explanation on property 101. Best Street Worst Street.
I sure hope its not ALL FART NO SHIT (EBD) from your side on this one?
Please dont turn yourself in into joke please...:D
awww........i pity you having such a retard in your fanclub.
he's still of the opinion that westwood is better than lor lew lian cos' google is building a data center and the presence of cleantech companies.
what's the link? i guess it's as valid as the neurological linkages in his grey matter synapses - none :D:D
sorry for the interruption :)
Google has already built the Data Center and is up and running
but not at full capacity though
Cheers :cheers1::cheers1:
CleanTech One officially opens in Singapore’s first eco-business park
JTC Corporation unveils CleanTech One, which gathers different companies and institutions engaged in green research and development under one roof across the CleanTech Park
http://www.eco-business.com/news/cleantech-one-officially-opens-singapores-first-eco-business-park/
sorry for the interruption :)
Google has already built the Data Center and is up and running
but not at full capacity though
Cheers :cheers1::cheers1:
erm, and what bearing does that have on making westwood more attractive than lor lew lian?
or specifically, did that cause a spike in property prices and rent?
erm, and what bearing does that have on making westwood more attractive than lor lew lian?
or specifically, did that cause a spike in property prices and rent?
Nothing in specific for you
Just to interrupt in earlier posting that Google DC have been built (completed) and not building a DC.
If you think that their presence have no impact and that the area has no potential and future with the ongoing Development.
Please continue to do so.
Cheers :cheers1::cheers1:
erm, and what bearing does that have on making westwood more attractive than lor lew lian?
or specifically, did that cause a spike in property prices and rent?
Told you many times already, dont make a fool out of yourself.
To the one who believe in gospel but think gospel might not be true.
Self Pwned again.
https://fbcdn-sphotos-e-a.akamaihd.net/hphotos-ak-ash4/1005321_10151748039782040_1816642019_n.jpg
To the one who believe in gospel but think gospel might not be true.
Self Pwned again.
https://fbcdn-sphotos-e-a.akamaihd.net/hphotos-ak-ash4/1005321_10151748039782040_1816642019_n.jpg
So how is RR going to bring value to Singapore and in this case, the property in de West ?
Spending so much money with "A" Star IHPC and CFD department and now NTU
Better to spend their money doing research on sin thang(lizard) and ka chua (cockroach) for the benefit of people in Jurong
You do not need to reply
Just regard this posting from a foolish retarded old man :scared-1::scared-1:
Cheers !!! :cheers1::cheers1:
So how is RR going to bring value to Singapore and in this case, the property in de West ?
Spending so much money with "A" Star IHPC and CFD department and now NTU
Better to spend their money doing research on sin thang(lizard) and ka chua (cockroach) for the benefit of people in Jurong
You do not need to reply
Just regard this posting from a foolish retarded old man :scared-1::scared-1:
Cheers !!! :cheers1::cheers1:
The one who believe in gospel by think gospel might not be true was
saying there are no high tech R&D activities in that part of Singapore, and went as far as using RR in Seletar as comparison.
So I am just quoting this article to show him how little he knows about the western region.
http://www.jtc.gov.sg/Publications/Newsletter/Periscope/2013_03/images/fourth/header.jpg
another map from SSC
http://farm4.staticflickr.com/3824/10465395863_29e9358814_c.jpg
i wonder what is the timeline for the MRT station to westwood? looks like the landed there got potential if this is so. they used to be one of the cheapest landed ppty in sgp. probably still is.
12 bid for this site. I am sure they are all kamgong??
http://img23.imageshack.us/img23/6876/hdph.jpg
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