Wishing all the Huttons agents huat many many tomorrow.
Is this a good project to be invest in? Any opinions will be helpful..
Alex Res Prices:
3br compact
09-01 926sf $1443k
10-01 926sf $1448k
07-01 926sf $1401k
10-07 926sf $1468k
07-07 926sf $1448k
3br+ U
05-06 1044sf $1.531 $1466psf
25-08 1023sf $1.821M $1780psf
1br
07-10 474sf $827k $1744psf
17-10 474sf $853k $1799psf
23-10 474sf $894k $1886psf
26-10 474sf $912k $1924psf
05-04 474sf $778k $1641psf
07-04 474sf $788k $1662psf
1br 506sqft
16-11 506sf $907k $1792psf
2br
10-11 657sf $1,112,000 $1692psf
22-11 657sf $1,213,000 $1846psf
07-12 678sf $1,141,000 $1682psf
So how's sales at this development?
First phase of 200 units almost all sold. Another 229 units for next phase but price will go north.
SINGAPORE: The Alex Residences condominium near Redhill MRT station received strong demand at its preview launch on Wednesday.
The 429-unit project saw bookings for all 150 units initially released on Wednesday.
To meet overwhelming demand, developer Singapore Land says it has released another 50 units under its first phase.
SingLand had priced the project at an average price of S$1,650 per square foot, lower than its neighbour The Echelon.
Launched last December, The Echelon went for an average of about $1,795 per square foot.
The strong response for the city fringe development comes despite recent property market cooling measures.
SingLand says it does not expect prices of other new launches in the city fringe area to fall further, as land and construction costs continue their upward climb.
Looking ahead, the developer says it is likely to raise prices to above S$1,700 per square foot in the second phase.
Mr Michael Ng, Group GM of UIC and SingLand, said: "We are selling below what Echelon was selling for earlier this year. So essentially, we realise that with TDSR and various stamp duties, buyers' ability to get a loan is reduced. So the price quantum that they're able to afford is also limited. We have adjusted prices, reduced some of our profit margins, but I think to expect a big drop in prices, that's not on the cards at all."
- CNA/de
rough estimation is 50+ 1 bedders were sold, 40+ and 40+ 2 and 3 bedders were sold.
but now for the balance units, its very much skewed towards 3 bedders as there were more 3 bedders in the first place.
SINGAPORE Land sold 150 units yesterday at the 99-year Alex Residences condominium near Redhill MRT Station, out of 200 units the group released in the 429-unit project.
The average price is $1,650 per square foot.
Said Michael Ng, group general manager of Singapore Land and its parent, United Industrial Corporation: "We've sold a good spread of one, two and three-bedroom units. The project has drawn owner-occupiers as well as potential investors, given the appeal of the location.
"Residents will enjoy the prestige of living a short distance from the Chatsworth Park Good Class Bungalow Area and yet enjoy the convenience of amenities in the Redhill area ranging from a wet market and food centre to restaurants and cafes."
The $1,650 psf average pricing for Alex Residences is a tad lower than the $1,700 psf early-bird average pricing for City Developments' launch of the next-door condo Echelon last December. However, the overall project-average achieved for Echelon was $1,795 psf.
Also, Singapore Land has not minted large units, with the project comprising entirely one, two and three-bedroom units - unlike Echelon which also has four-bedders and penthouses. Three-bedders in Echelon are also generally larger than those in Alex Residences.
This has allowed about 95 per cent of the 429 units in Alex Residences to be priced below $2 million.
"Yes, the TDSR (total debt servicing ratio) framework has restricted access to funding for some potential buyers. But for those who can get financing, they find a strong value proposition in our product, which is near the city," reasoned Mr Ng.
In early September, Keppel Land released The Glades next to Tanah Merah MRT Station at an average price of around $1,500 psf. In late June, on the same evening that the TDSR framework was rolled out, MCL Land sold its J Gateway condo near Jurong East MRT Station like hotcakes at $1,480 psf on average.
Mr Ng said that buyers of Alex Residences yesterday were predominantly Singaporeans and permanent residents although some foreigners, mostly mainland Chinese, were also spotted buying units.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
the pricing is very attractive as compared to recent new launches for 2013 but response a bit average nia ... seems like the number of potential buyers in the market is getting lesser liao ....
Looks like we will see more SER around redhill mrt in future. More land for private developers.
Yee ha! Did I tickle your funny bone?
81278887
Senior Marketing Consultant
Huttons New Launches
has their main contractor been confirmed?
A unit size 678 sq ft at 21 to 25 floor sold for 1905 per sq ft in Dec. What about those 30 floors or higher. Anyone knows how much per sq ft are they selling for?
Alex Residences located on 28 Alexandra View. It has an excellent unit mix of 1/2/3 bedroom apartments.
Estimated to be ready in 2019, it offers great boutique style lifestyle for the young and well travelled.
Suitable for own stay or and as well as investment.
To find out more visit www.propertynew.co/alex-residences or call 6100 8486 for viewing appointments!
Is date of vacant possession the same as TOP?
Thanks
Isn't stated anywhere when TOP for Alex Residences is. Bit puzzled.