http://www.businesstimes.com.sg/arch...start-20140625
Published June 25, 2014
Trilive condo in Kovan off to slow start
Of 80 units released at 222-unit project, 30 sold since Friday
By Kalpana Rashiwala
[email protected] @KalpanaBT
ROXY-PACIFIC Holdings has had a slow start to its Trilive condo project in the Kovan area, moving close to 30 units since sales began last Friday. It has released 80 units in the 222-unit freehold project along Tampines Road at an average price of $1,550 per square foot (after early-bird discounts).
Absolute prices start from around $730,000 for a one bedder-with study of 463 sq ft. A typical two-bedder starts from around $870,000, a two-bedroom dual-key unit from around $960,000, and a three-bedder dual-key apartment from around $1.3 million. Prices of four-bedroom dual-key begin from $1.65 million. Unit sizes range from 463 sq ft for a one-bedroom-with study unit to 1,195 sq ft for a four-bedroom dual-key unit.
Commenting on the slow start, Teo Hong Lim, executive chairman of Roxy-Pacific, said: "The market is challenging. And potential buyers also seem to be distracted by the World Cup."
Making a general observation on the market, he added: "In the current climate, private home sales are likely to be slow and steady, though not too alarming. At times like these, product differentiation and a developer's skill-sets come into play."
About half of Trilive's units are two-bedders - comprising typical two-bedroom apartments as well as dual-key units. All the three- and four-bedders are in dual-key configuration. In all, around 80 per cent of Trilive's 222 units are dual-key units.
Located about 650 metres from Kovan MRT Station, Trilive will comprise three blocks of 13, 14 and 18 storeys.
"Unlike earlier dual-key units in the market, ours are more targeted at multi-generational living or for the elderly/retirees. Our dual-key units include a self-contained suite with a master bedroom, a bathroom big enough for a wheelchair to be rolled into the shower area, which will also have a concrete bench. The suite will be equipped with a small pantry and have emergency buttons that can be programmed," said Mr Teo.
Nearby, Wing Tai launched its Tembusu project last August, with 218 units sold in that month at a median price of $1,547 psf. Located closer to Kovan Station, the 18-storey freehold project will have one- to four-bedroom apartments, dual-key units and penthouses ranging from 474 sq ft to 3,886 sq ft. Wing Tai is developing The Tembusu on its former headquarters site.
Trilive's showflat has been built on the tennis court area of Yi Mei Garden, which Roxy bought last year through a collective sale for $136 million.
Its unit land price worked out to nearly $830 per square foot per plot ratio inclusive of two payments to the state - a development charge for building a bigger project on the site and the cost of buying an adjoining strip of state land. Roxy's breakeven cost is estimated to be nearly $1,350 psf.
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