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Thread: Developers test waters with condo launches

  1. #1
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    Default Developers test waters with condo launches

    http://www.businesstimes.com.sg/sub/...78417,00.html?

    Published May 9, 2008

    Developers test waters with condo launches

    Sale of Floridian, Quartet on Vanda and Parc Seabreeze have begun

    By KALPANA RASHIWALA


    DEVELOPERS are gingerly testing the water for residential launches this week. Far East Organization's listed unit Orchard Parade Holdings and Wing Tai have begun the official launch of their Floridian condo in Bukit Timah, marked by the start of an advertising campaign.


    Resort living: The Floridian is inspired by the Miami coast and will be surrounded by water features

    Prices start at $1,615 psf. BT understands the average net price is in the range of $1,600 to $1,700 psf after discounts.

    The freehold project has 336 units in 11 towers on a site of 230,000 sq ft. The preview for the development began a few months ago, with six units sold at $1,640 to $1,770 psf.

    This week's official launch sees the release of 75 units in Towers 2 and 9. Units range from two-bedders of 840 sq ft to apartments with four bedrooms (plus study) of 2,373 sq ft. Floridian, designed by DP Architects, is inspired by the Miami coast and will be surrounded by water features. Ground-floor units will have the water's edge outside their living and dining spaces. The project is near Hwa Chong Institution, Methodist Girls' School, Nanyang Girls' High School, Raffles Girls' Primary School and the Canadian International School.

    Another freehold project being previewed this week is Quartet on Vanda, a cluster development of four bungalows in Vanda Crescent off Dunearn Road (near Eng Neo Avenue). Each two-storey unit has an attic, a basement and a swimming pool.

    Built-up areas range from 4,844 sq ft to 4,919 sq ft. The units are understood to be priced around $6 million each. Quartet on Vanda is being developed by Stanley Quek's Region Development.

    Over in the eastern part of Singapore, Tiong Aik is understood to have begun the preview of Parc Seabreeze in the Marine Parade/Joo Chiat area last week. The average price for the freehold project is understood to be in the $1,600-1,700 psf range.

  2. #2
    Junior
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    Default Re: Developers test waters with condo launches

    The Straits Times showed a picture of "Floridian" but not the other two developments.

    I've been trying to find some pictures of the other two developments and managed to find a picture of "Parc Seabreeze" (below).




    But what about Quartet on Vanda? I can't find any picture.

    Maybe because it's a small development with only 4 units. The developer "Stanley Quek's Region Development" also never heard of ... wonder who is Stanley Quek?

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    Default Re: Developers test waters with condo launches

    a slight diiversion from topic but i have always balked at the pictures that developers put out. There are always a lot of greenary and free space surrounding the developments ie i've never come across an artist impression of a new development which actually incorporates the actual surroundings - so that buyers can see what it will really look like upon completion.

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    Default Re: Developers test waters with condo launches

    Quote Originally Posted by Boon
    a slight diiversion from topic but i have always balked at the pictures that developers put out. There are always a lot of greenary and free space surrounding the developments ie i've never come across an artist impression of a new development which actually incorporates the actual surroundings - so that buyers can see what it will really look like upon completion.
    Got lah ...

    If the surrounding is good, then they will show it.

    Like these below ...

    The Marq on Paterson Hill



    The Orchard Residences



    The Orchard Residences even comes with 360-degree view ...


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    Default Re: Developers test waters with condo launches

    haha thanks..i guess the rule of thumb is if its a good neighbourhood like orchard..flaunt it! cause buyers pay for that...but if its HDB neighbourhood, hide it!

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    Default Re: Developers test waters with condo launches

    Oh just to share, we're still seeing very bad markets overseas.. Domestically, there is probably a group of buyers of genuine buyers who can still support prices here & there but interesting to see what happens when this group is cleared out.

    23:01 12May08 RTRS-UK RICS HOUSE PRICE BALANCE FALLS TO RECORD LOW -95.1 IN APRIL VS -79.4 IN MARCH
    23:01 12May08 RTRS-UK house price balance weakest since 1978 -RICS
    By Matt Falloon
    LONDON, May 13 (Reuters) - House prices fell in every region of Britain in April with surveyors reporting the widest margin of decline in at least 30 years, a survey showed on Tuesday, indicating the housing market downturn is gathering momentum.
    The Royal Institution of Chartered Surveyors said its house price balance fell to -95.1 in the three months to April from
    -79.4 in March -- the weakest since the series began in January
    1978 and well below forecasts for a reading of -80.0.
    The balance fell in every region compared with March.
    The figures are likely to add to growing concern over the health of the housing market after Bank of England policymaker David Blanchflower warned last month that prices could slump by almost a third unless aggressive remedial action was taken.
    The Bank of England is under pressure to continue cutting interest rates
    -- after three cuts since December -- to shore up the economy in the wake of the global credit crunch.
    But consistently strong inflation figures are making it hard to justify any drastic policy easing.
    "Although most surveyors are now seeing price declines, the extent of the fall, is at this stage, quite modest," said RICS spokesman Ian Perry.
    "The real issue is the collapse in the number of housing transactions.
    This has very real implications, not just for the property industry but also the high street and the wider economy."
    Northern Ireland witnessed the steepest falls in house prices, according to the RICS survey, with nearly a third of surveyors reporting prices down by more than 8 percent.
    Declines of a similar magnitude are being felt to a lesser extent across England and Wales and surveyors in East Anglia, the north and north west are unanimous that prices are falling.
    Scotland, previously the only region to score a positive house price balance, also slipped into the red.
    Expectations for future house prices fell to a series low while interest from prospective buyers decreased at the sharpest pace on record.
    The completed sales to stock of unsold property ratio -- regarded by some economists as a more reliable gauge of the health of the housing market -- declined further with market conditions at their loosest since the 1996, RICS said.
    (Editing by Gerrard Raven)
    ((UK Economics desk, [email protected], Tel: +44 207
    542 5109))

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    Default Re: Developers test waters with condo launches

    The mystery of the missing signs - on Friday, saw many signs hung on lamp-posts about new project in D5. Come Monday, all signs disappear.

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    Default Re: Developers test waters with condo launches

    All waiting for planned changes to MP 2008 in that area.

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    Default Re: Developers test waters with condo launches

    Quote Originally Posted by Boon
    haha thanks..i guess the rule of thumb is if its a good neighbourhood like orchard..flaunt it! cause buyers pay for that...but if its HDB neighbourhood, hide it!
    Ya lor ...

    People tend to want to associate with things above them, but not those below them.

    Like that celebrity hairstylist David Gan is always telling the press that he styled for actress Zhang Ziyi. Why don't we hear him saying that he styled for Aunty ABC?

    But Aunty ABC will go around telling people that her $2000 hairstyle is done by David Gan.

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