not sure how many launched. heard from an agent there 120 was sold as at this afternoon.Originally Posted by amk
Senior
not sure how many launched. heard from an agent there 120 was sold as at this afternoon.
Banned
Some examples of the prices:
1BR 495 sqft #05-16 495 sqft $680k ($1373 psf)
2BR 710 sqft #07-14 $976k ($1375 psf)
3BR 1044 sqft #03-05 $1.269m ($1215 psf)
3BR Premium 1141 sqft #03-21 $1.455m ($1275 psf)
171 units sold (about 40%) as of this hour.
Wahlao $12xx psf - $13xx psf for majority of the units ley. Already cheaper than Bukit Panjang. This is Thomson ley.
Newbie
Faces Amber Gardens. Very small pocket sea view, and nothing much else to see, so I passed on the unit. But I think the price is quite reasonable for a freehold property in this area.
Newbie
I agree. It's times like these, when Upper Thomson launches for less than some suburban projects, that I wonder what is happening to the property market.
Senior
160 unit sold. Not too bad.
IT was probably a combination of reasonable pricing, good location and the positive stockmarket mood - resulting from the US Federal Reserve's announcement that it is not tapering its quantitative easing (QE) programme just yet - that helped UOL Group and Singapore Land move 160 units at Thomson Three on the first day of sales bookings this week.
This was out of the 200 units they released. The developers plan to release a further 120-150 units this weekend.
Located on Bright Hill Drive, the project comprises 435 apartments and 10 strata semi-detached houses. The average price of the 99-year leasehold development is about $1,350 per square foot.
A fortnight ago, UOL president (property) Liam Wee Sin had said that "without TDSR (total debt servicing ratio), we could easily have priced this project at $1,500 psf on average, or even higher".
On Thursday, the group said that expressions of interest with cheques were submitted by more than 500 potential buyers. Yesterday, Mr Liam said some of these potential buyers were still awaiting in-principle approval of their loans. "So not all were ready to enter into a transaction."
Around 350-400 who got their loans approved turned up for balloting for entry into the showflat from 1pm onwards. The TDSR rules, which took effect in late June, require financial institutions, when granting property loans to individuals, to ensure that the borrower's monthly total debt repayments do not exceed 60 per cent of their gross monthly income.
"We've seen strong buying interest for the bigger apartments - four-bedders and three-bedroom premium units - and we believe this is due to the higher purchasing power of those living in the Thomson vicinity," said Mr Liam.
Ten of the project's 21 four-bedders (1,485-1,862 sq ft) and 48 three-bedroom premium units (1,141-1,582 sq ft) found buyers. The developers released 60 of the 84 three-bedroom premium units yesterday. Two out of the five strata semi-detached houses released were sold. The balance 100 units transacted were one and two-bedders and three-bedroom compact units.
"The project's proximity to the upcoming Upper Thomson MRT Station would probably have been a more compelling reason to buy for those who picked up smaller units, compared to those who purchased bigger units," Mr Liam reckons.
Each of the project's 10 semi-Ds has a strata area of 3,283 sq ft spanning across three levels and a basement (that can accommodate two cars). The houses are priced at $3.2-3.4 million.
Of the apartments sold, absolute prices range from $651,000 for a 495 sq ft one-bedder on the second level to around $2.3 million for a 1,862 sq ft four-bedder on a high floor of the 21-storey project.
Mr Liam said: "We did well because of pent-up demand in this location, where there have not been many launches in recent years. Moreover, Thomson Three's proximity to the upcoming MRT station, Ai Tong School and Thomson Plaza all appealed to buyers. They probably also found our price pegged at a realistic level."
CBRE and Huttons are the marketing agents for Thomson Three.
Joseph Tan, executive director (residential) at CBRE, estimates that about 60 per cent of Thomson Three's buyers live in the vicinity including Thomson, Ang Mo Kio, Yio Chu Kang and Bishan. "Buyers were predominantly Singaporeans and aged 40 onwards."
Post-TDSR, developers have posted a patchy performance for new launches - with pricing, location and supply in the specific micromarket being key factors.
Ong Choon Fah, chief operating officer, SE Asia, at DTZ, notes that "there's quite a lot of landed housing in the Thomson area, people with 'old' money". Some of them could be buying a unit in Thomson Three for their children; conversely, some of their children may have bought in the project to live near their parents. "Some of the older landed housing residents could be looking to right-size to a smaller home," Mrs Ong suggests.
All eyes now are on CapitaLand's Sky Vue condo near Bishan MRT Station, where sales bookings are slated to begin next week. The property giant is expected to price the development more competitively in both psf and absolute quantum terms compared with its earlier project next door, Sky Habitat.
Post-TDSR, developers have posted a patchy performance for new launches - with pricing, location and supply in the specific micromarket being key factors. Wing Tai's Tembusu project, which was released around mid-August, was the first to achieve strong first-day sales of about 200 units. The freehold condo in the Kovan area was priced around $1,500 psf on average.
Earlier this month, Keppel Land moved about 80 units at The Glades condo on the first day. Located next to Tanah Merah MRT Station, the condo is priced around $1,450-1,500 psf on average. On the same day, 35 units were sold at The Skywoods in the Dairy Farm area. It was launched at an average price of $1,250 psf. Both projects are 99-year leasehold.
Says DTZ's Mrs Ong: "People are looking for value. Most are taking a longer- term view. At the end of the day, they want to know: 'What's the compelling reason to buy now?'"
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Senior
so this is the new "benchmark". 12xx to 13xxpsf for thomson. 13xx to 14xxpsf for bishan? then everywhere else how?!?!?!?!
Junior
The quantum for premium 3BR could be quite attractive to HDB upgraders.
At least the prices are becoming more reasonable now, hope that means no more CMs for the time being.
Senior
Did you buy a unit here?
Newbie
Yes.... Very attractive pricing... Is it FH? This is thomson leh... I think those who buy J-Gateway must be thinking have they pay too much for J-Gateway
Newbie
99yrs lease hold
Senior
Went for a look this evening and it was not crowded. Finishing is quite ok with marble flooring and timber strips and all kitchen appliances are included. There is hot water supply to the kitchen sink as well. However it does not look as grand as Thomson grand.
All the 1 bedders face the hdb, however those high floor stack 4 will be able to get a view of SICC and maybe the reservoir.
#04-04 495sqft 659k
#19-04 495sqft 735k
Junior
Heard more than 200 units sold. Very very impressed.
UOL did the right marketing move : give marbles ; give branded sanitary fittings; built showflat at Venus dr; and did not set px too aggressive ( most exp 3bd only 1.6m, most exp 2bd < 1.1m)
The Bishan one finishing really poor. Only selling point is px. Same 3bd also 1.6m only.
Senior
1.6m is bit more than the resale 3 bedders in the area. that could be one of the reason they managed to moved half their inventory in the first weekend.
Newbie
What is the furnishing for sky vue?
Newbie
Wah... Marble floor... Sound good... And the price is much more reasonable and it is in Thomson leh... But they still unable to clear at least 50% of the unit... Look like TDSR is really powerful.. If before TDSR, I think this will be a sold out project by first day
Senior
if there was no TDSR, they would have priced it at 1600psf perhaps. if there was no seller stamp duty, it might have been 1800psf. lol.
Banned
Well said.
Banned
Despite the very thin profit margin, UOL/Singland still provide good finishing. I can't say the same for Sky Vue though - thin profit margin that's why the condo looks like hdb. Multi-storey carpark somemore. Homogeneous tiles cheap cheap.
By the way, EVERY bedroom is Thomson Three houses a double bed, whereas EVERY common room in Sky Vue houses a single bed.
That is to say, you can rent a Thomson Three 3BR to 6 tenants, but you can rent a Sky Vue 3BR to 4 tenants only. And note that the Thomson Three 3BR is the same prices as a Sky Vue 3BR.
Global recession is coming....
But Bishan better location than Upper Thomson though............
Despite the very thin profit margin, UOL/Singland still provide good finishing. I can't say the same for Sky Vue though - thin profit margin that's why the condo looks like hdb. Multi-storey carpark somemore. Homogeneous tiles cheap cheap.
By the way, EVERY bedroom is Thomson Three houses a double bed, whereas EVERY common room in Sky Vue houses a single bed.
That is to say, you can rent a Thomson Three 3BR to 6 tenants, but you can rent a Sky Vue 3BR to 4 tenants only. And note that the Thomson Three 3BR is the same prices as a Sky Vue 3BR.
Senior
bishan is an interchange node so naturally it is better. but the walk from sky vue to the train station is quite a long walk. the better plots at bishan central have not yet been sold. heh heh. They keeping the good stuff for last.
in the case of thomson 3, i believe the train station entrance is about 100-200m from their condo entrance. and they have a thomson plaza to settle their basic necessities. all in all not a bad proposition either.
having said that, i have no vested interest in either.
Senior
i'm happy with the changed uol. time to follow the bosses to buy some of their shares.
Invester
Bishan confirm better then Thomson , mrt also quite near .
Banned
Any reason(s) please?
Senior
The SH plot and SV plot are in the furthest corner and although near, still need to walk a stretch above ground with no trees for partial shade.
Newbie
I am guessing for now at least, the MRT. But beyond 2020, I think Upper Thomson is better. It will have an MRT station then, and is slightly closer to town.
Banned
193 units sold as of today.
The 3BR PREMIUM type sells the best, by %.
Followed by the 2BRs.
Junior
Agree that the North facing units would probably have a view of SICC. You have to check that it is higher than the HDB flats though.
All the 1 bedders face the hdb, however those high floor stack 4 will be able to get a view of SICC and maybe the reservoir.
#04-04 495sqft 659k
#19-04 495sqft 735k
Junior
That's a decent take up rate. I hope they sell out soon. Then I won't have my turning road @ Venus clogged up by illegal parking.
Music of the night
Judging from progress of DTL2 (delayed till 2016), probably another 10y b4 MRT arrives for this project
Ride at your own risk !!!
Newbie
dont tcss lah, sv only about 200+m to circle line
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