New Pasir Ris EC "Water Colours"

[FilthyRich]

Hi guys, there are currently 2 new EC in progress.

1. Water Colours (Parsir Ris)
2. One Canberra (Yishun)

In which "water colours" will be available for application on 1st May.

I often have this dilemma between Condos, ECs and DBSS.
For instance, a similar project in Parsir Ris "ParsirRis One" which is a DBSS
Both are of similar price range, but do not know why would some even be willing to pay that amount of money for a DBSS when the money could be instead be used to purchase a more exclusive EC with better investment yield.

[Allthepies]

Hi guys, there are currently 2 new EC in progress.

1. Water Colours (Parsir Ris)
2. One Canberra (Yishun)

In which "water colours" will be available for application on 1st May.

I often have this dilemma between Condos, ECs and DBSS.
For instance, a similar project in Parsir Ris "ParsirRis One" which is a DBSS
Both are of similar price range, but do not know why would some even be willing to pay that amount of money for a DBSS when the money could be instead be used to purchase a more exclusive EC with better investment yield.

go for the one nearest to mrt =) if similar distance go for EC from investment point of view

[carbuncle]

Why compare apple and orange. One has facilities one dont. Unless you dont care about facilities.

[fan]

1 u pay for facilities n security, the other 1 u pay for mrt n mall. Both will have takers.

[eng81157]

Why compare apple and orange. One has facilities one dont. Unless you dont care about facilities.

pasir ris one (dbss) is just 5 mins away from the sports complex, where there's a pool & gym. behind it's backyard is a fishing pond, not to mention its proximity to the MRT.

given a choice, i would pick the dbss over watercolors, even though the facilities aren't private and exclusive

[Komo]

it all boils down to affordability

[phantom_opera]

Stock crashing daily with Mr B getting more excited daily still people buy at far away Pasir Ris not near MRT ... Singkies BOLEH ...706psf is not cheap at all

Watercolours (pictured), an executive condominium (EC) in Pasir Ris sold over 90 units during its first day of booking last Friday.

The 99-year leasehold 416-unit project is the latest in a slew of new launches in Pasir Ris. Located at the junction of Pasir Ris Drive 3 and Pasir Ris Link, it is being developed by Huge Development, a consortium comprising UE E&C, Ho Lee Group, Evia Real Estate and GPS Alliance Development.

Jeffrey Hong, Chief Executive of GPS Alliance, said the 91 units were sold as of 8pm on 1 June. Three-bedder units were the most popular among buyers, who comprised first- and second-timers.

Prices of units range from S$570 psf to S$750 psf, which works out to an average of S$706 psf.

Two-bedroom units are priced from S$530,000 while three-bedders start from S$639,000. As for four-bedders, they start from S$885,000 while penthouses are priced from S$1.07 million. Dual-key units, which are designed for multi-generational living, are also being offered.

Launched on 1 May, the EC was twice oversubscribed when e-applications closed after a week. After making an e-application, the buyer becomes eligible to ballot for a unit.

Consultants had earlier predicted that the project would receive strong interest as it is similarly priced with public housing developments located near Pasir Ris MRT station.

However, recent sales were lower than expected, said Nicholas Mak, Research Head at SLP International, adding that the developers might have to review their marketing strategy.

[TheOnlyGayInTheVillage]

From oversubscribed to less than 100 actually sold. I would term this as an utter failure.

[hyenergix]

From oversubscribed to less than 100 actually sold. I would term this as an utter failure.

Where do you get the data from? Cars will be even more expensive. With kids, it will be quite inconvenient to send them to school or deal with contingencies. Better think twice before buying inaccessible locations.

[TheOnlyGayInTheVillage]

Where do you get the data from? Cars will be even more expensive. With kids, it will be quite inconvenient to send them to school or deal with contingencies. Better think twice before buying inaccessible locations.

It was reported as oversubscribed before launch. The article few posts ahead said first day only sold 91 units. What happened to the rest who signed up?

[House]

It was reported as oversubscribed before launch. The article few posts ahead said first day only sold 91 units. What happened to the rest who signed up?

the smart ones pull out. the dumbs one think they got a good deal.
lets say 5-10 yrs from now, who so dumb to buy a RESALE watercolour EC when he can just fork out a little bit more and get a Private condo?

Only buy a EC surrounded by HDBs - ....and NOT surrounded by PCs.

[hyenergix]

the smart ones pull out. the dumbs one think they got a good deal.
lets say 5-10 yrs from now, who so dumb to buy a RESALE watercolour EC when he can just fork out a little bit more and get a Private condo?

Only buy a EC surrounded by HDBs - ....and NOT surrounded by PCs.

I guess e prob is sea esta n ripple will b fully blocking e view n wind. But really EC here is v in accessible.

[bargain hunter]

Executive condominium Watercolours surprised consultants with a sluggish take-up rate.

The project at Pasir Ris had gathered much hype after it was two times oversubscribed when it opened for e-application.

But according to industry sources, only up to half of the 416 units there have been sold.

[phantom_opera]

I am surprised many brothers think the result is bad just because 2X oversubscribed. Most people just apply for fun, 2X over-subscription is not a lot.

The performance is very good if you ask me consider:

1. This is Pasir Ris not near MRT
2. The psf is 705psf ... 700,000 for 1000sqft ... you can buy 699sqft 2 room at 8RS already (although first timers will get the 30k grant) ... if me i rather buy 2r at 8RS ... or top up a bit to may be something slightly bigger @ Riviera 38 if driving
3. Stock market maximum fear

Similar story at River Isles, 150 units sold is damn good



RIVIERA 38 MAR THOMA ROAD Apartment 1 787,000 743sqft Strata 1,060psf Mar-12

[azeoprop]

Sorry the 700sqft mini 2 bedders 8 riversuites ok facing units 900k and above.

[phantom_opera]

Sorry the 700sqft mini 2 bedders 8 riversuites ok facing units 900k and above.

Sorry mistaken ... it is indeed 900k+ ... much more expensive than R38
If you compare R38 with Watercolors ... both not near MRT, which one would u choose ... many buy EC just because of 30k grant

One friend recently bought Tampines EC 4r dual key for 1 million ... at least is near upcoming DTL3 and can rent out during MOP

[focus]

Yup. I read a comment at sgproperty blog . A potential buyer got turned off by the pricing and choose to buy Tampines Trilliant instead. Comparatively, the trilliant pricing looks better.