The Watergardens @ Canberra condo by UOL

[sgnewcondo]

The Watergardens at Canberra (https://singaporenewproperty.net/the-watergardens-canberra/) condo by UOL is a around five minutes walk to Canberra MRT station. It comes with a total of 455 residential units with a basement carpark and full condo facilities. It is also stragically located near facilities for example Nearby mall, Schools and Markets. Register to view The Watergardens at Canberra Showflat (https://singaporenewproperty.net/the-watergardens-canberra/)

[Realtytay]

The Watergardens at Canberra (https://www.developerlaunch.com/the-watergardens-at-canberra/) hotline: 61003515 is a new 99 years leasehold condominium located at Canberra Drive in district - Singapore district 27.

The Watergardens at Canberra by United Venture Development is a government land sale at Canberra drive plot B. 2026 upcoming North-South Corridor provide Sembawang town great accessibilities. Not only that , it is also minutes walk to Canberra MRT and within the vicinity is also the upcoming integrated hub with community centre , sports and recreation- Bukit Canberra.

Showflat preview, VIP registration, latest updated information, e-brochure, price, floor plan and preview discount please visit https://www.developerlaunch.com/the-watergardens-at-canberra/ (https://www.developerlaunch.com/jbr-at-bartley/)

[investwell]

Watergardens at Canberra (https://www.newlaunch.sg/watergardens-at-canberra/) by UOL.
In Canberra in District 28
Opposite up and coming Canberra transformation hub earmarked by URA with gardens providing the greenery and covered walkway
Many good amenities - restaurants, heartland retail shops
Minutes walk to Canberra MRT
Minutes drive to many parts of Singapore via the respective expressways
Watergardens at Canberra location (https://www.newlaunch.sg/watergardens-at-canberra/) is excellent
Watergardens at Canberra price (https://www.newlaunch.sg/watergardens-at-canberra/) update available during preview

[zero_hero]

The Commodore Condo (https://www.the-commodore-jbe.com) is another new launch that is just a short 2 minutes walk to Canberra MRT (https://www.the-commodore-jbe.com/connectivity/).

Developed by renowned developer, JBE Holdings Pte Ltd (https://www.the-commodore-jbe.com/developer/), The Commodore will be the right product for the homestay and investment.

it is targeted to be launched in Q3 2021. Register your interest here to view The Commodore Showflat (https://www.the-commodore-jbe.com/view-showflat/) and receive VVIP Early Bird Discounts.

[calvinseng]

Thanks for sharing the info but I realised they are outdated and I found out that this one is much more accurate. Do look out for The Watergardens at Canberra Condo (https://watergardensatcanberra.official-sites.sg/)

[reporter2]

The Watergardens at Canberra sells 60% of units at launch

By Cecilia Chow

August 29, 2021

https://www.edgeprop.sg/property-news/watergardens-canberra-sells-60of-units-launch

https://i.imgur.com/8Gok5g5.jpg
Four-bedroom units from 1,302 sq ft were priced from below $1.8 million ($1,382 psf)

On Sunday, August 29, UOL Group announced that it has achieved 60% sales at The Watergardens at Canberra on its launch weekend. Two-bedroom units, with sizes from 646 sq ft, were sold at prices starting from below $920,000 ($1,424 psf; three-bedroom units from 904 sq ft, were priced from below $1.3 million ($1,438 psf); while four-bedroom units from 1,302 sq ft were priced from below $1.8 million ($1,382 psf).

“This is the first private development to come to the market in the northern part of Singapore in over six years,” says Jesline Goh, UOL chief investment and asset officer. “Based on what we observed, buyers are particularly attracted to the project’s strong product attributes, lush greenery as well as its proximity to Canberra MRT station and the future North Coast Innovation Corridor.”

The buyers were mostly homeowners, with the sales well spread across all unit types, adds Goh. The Watergardens is a joint venture between UOL Group, Singapore Land Group and Kheng Leong Co.

"The sales was within expectation,” says Ismail Gafoor, CEO of PropNex. “It’s an OCR [Outside Central Region] project, and there’s a limited supply of such projects in this year. That’s why the take-up rate was strong.”

https://i.imgur.com/5V4BV7K.jpg
Two-bedroom 646 sq ft, were sold at prices starting from below $920,000 ($1,424 psf)

Gafoor estimates average selling price at The Watergarden to be below $1,500 psf. “What gave homebuyers confidence was the fact that the developer maintained the selling price throughout the first day of launch,” he adds. “There wasn’t a price hike after the developer sold 30% of the units; nor when they crossed the 50% mark. That gave buyers confidence, especially those who made their decision to purchase near the close of the first day of launch yesterday.”

A significant number of buyers were those from other parts of the OCR in the north, northeast and eastern regions, says Nicholas Mak, head of research at ERA Realty. “One of the major selling points was the proximity to the MRT station,” he adds.

Mak attributes the strong demand in the OCR to the number of HDB flats that are eligible to be sold on the resale market since 2019. The number of flats that crossed the Minimum Occupation Period (MOP) of five years was 30,169 units in 2019; another 24,163 units in 2020; and 25,530 units in 2021. Next year, another 31,325 units is expected to hit MOP, according to HDB data. “The transactions of these newer flats could contribute to higher HDB resale prices,” he adds.

Lee Sze Teck, head of research at Huttons Asia agrees. “The response to The Watergardens at Canberra reflects the strong desire among HDB dwellers to upgrade to private property,” he says. “Investors took the opportunity to lock in an asset before repricing takes place next year.”

https://i.imgur.com/iRf5XJZ.jpg
Three-bedroom units from 904 sq ft, were priced from below $1.3 million ($1,438 psf)

The response to The Watergardens at Canberra reflects the strong desire among HDB dwellers to upgrade. Investors took the opportunity to lock in an asset before repricing takes place next year.

The next launch in the Canberra neighbourhood is JBE Holdings’ upcoming condominium, The Commodore, located on the site adjacent to The Watergardens. It’s a 220-unit private condominium on the 99-year leasehold site which JBE Holdings purchased for $129.2 million ($644 psf per plot ratio) in in a government land tender in 2019. The Commodore is expected to be launched before the end of this year.

“The developer of the Commodore may have waited to observe the demand for The Watergardens before formulating their own launch strategy,” reckons ERA’s Mak.

Meanwhile Frasers Property and CSC Land launched Parc Greenwich executive condo for e-application on August 26, with its launch scheduled for September 11.

“The sales achieved at The Watergardens demonstrate that housing demand has continued to be resilient,” says PropNex’s Gafoor.

[reporter2]

UOL's Watergardens project sells 60% of units at launch weekend

Aug 30, 2021


THE Watergardens at Canberra moved about 60 per cent of its 448 units - which works out to roughly 268 units - over its launch weekend on Aug 28 and 29.

Prices started from below S$920,000 or S$1,424 per square foot (psf) for the two-bedroom units, below S$1.3 million or S$1,438 psf for the three-bedroom units, and below S$1.8 million or S$1,382 psf for four-bedroom units.

UOL said that the per-square-foot (psf) pricing for “typical units sold” ranged from S$1,400 psf to almost S$1,550 psf.

In a note on Monday, Citi analyst Brandon Lee estimated that the overall selling price at the 99-year leasehold condominium stood at around S$1,450 to S$1,500 psf, within the research team’s expectations and higher than the S$1,100 to S$1,200 psf achieved at nearby projects.

The price range of S$1,450 to S$1,500 psf would translate to a profit-before-tax margin of 14-17 per cent, based on breakeven of S$1,240 psf and revalued net asset value (RNAV) accretion of 0.3-0.4 per cent, according to Citi’s estimates.

However, the sale volume "may have fallen slightly short of selected investors' expectations" following Pasir Ris 8's 85 per cent take-up last month, and given that The Watergardens is only the second major non-executive condominium mass-market project to be launched this year, Mr Lee added.

Located in the Sembawang/Yishun area, The Watergardens is the first private residential development in the northern part of Singapore to come to the market in more than six years.

UOL Group chief investment and asset officer Jesline Goh said in a statement that the buyers at the launch weekend were mostly homeowners, and the sales were "well spread across all unit types". More than 85 per cent of the buyers were Singaporeans, the company said.

Ms Goh noted: "Based on what we observed, buyers are particularly attracted to the project's strong product attributes, lush greenery, as well as its proximity to Canberra MRT station and the future North Coast Innovation Corridor."

The low-rise project comprises 16 five-storey buildings, and the two to four-bedroom units range in size from 646 square feet (sq ft) to 1,528 sq ft. It is expected to be completed in Q2 2026.

In Citi's view, the launch performance represented "a solid result" for UOL, and is likely to sustain the ongoing residential property upcycle, especially in the mass-market segment.

It may also drive keen competition for three upcoming government land tenders in September, Mr Lee wrote.

The Watergardens is developed by a 50:30:20 joint venture among UOL, its 50.1 per cent-owned unit Singapore Land Group, and Kheng Leong Company.

Nearby, The Commodore by JBE Holdings, slated to launch later this year and housing about 219 units, should benefit from spillover positive sentiment from The Watergardens, Mr Lee added.

UOL reopened The Watergardens' showflat on Aug 14, after it was closed from July 21 in view of Singapore's return to Phase 2 (Heightened Alert).

Back in July, ERA head of research and consultancy Nicholas Mak said there was pent-up demand among HDB upgraders for affordable private housing.

Citi's Mr Lee on Monday noted that he foresees The Watergardens' sales performance to have a slight positive impact on UOL's share price. However, the research team continues to view City Developments Limited (CDL) as "a cheaper residential proxy given its deeper RNAV discount of 53 per cent versus UOL's 41 per cent".

Mr Lee recommended "buy" on UOL shares with a target price of S$8.87.

At Monday’s close, UOL rose 1 per cent or S$0.07 to S$7.08. Shares of Singapore Land Group, formerly known as UIC, finished 0.8 per cent or S$0.02 higher at S$2.69.

[CondoInterested]

Dear Fellow Owners,

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