http://www.businesstimes.com.sg/real...w-this-weekend
Queens Peak condo opens for preview this weekend
Launch date could be from end-October to November, depending on the demand perceived at the preview
By Lee Meixian
[email protected]
@LeeMeixianBT
Oct 21, 2016
CHINESE-OWNED developer Hao Yuan Investment said on Thursday its latest condominium project, Queens Peak at Dundee Road, will open for preview from this Saturday.
Hao Yuan said Queens Peak will be the first fully residential project to have seamless, above-ground connectivity to an MRT station. There are mixed-use developments such as North Park Residences that are similarly linked to MRT stations.
"From the second storey of Queens Peak, residents will enjoy direct and sheltered access to the Queenstown MRT Station concourse, bypassing the street level pedestrian crowd," it said.
The developer is undecided on the launch date, which could be from end-October to the month of November, depending on the demand that it perceives at the preview.
Queens Peak will have a total of 736 units across two 44-storey towers which will be connected by a six-storey carpark as well as a Sky Terrace with lifestyle facilities on the seventh storey. Both residential towers will also have an additional Sky Terrace each clustered with lifestyle facilities on the 27th storey.
One-bedroom units start from S$680,000, two-bedroom units from S$966,000, three-bedroom units from S$1.31 million, four-bedroom units from S$2.24 million and five-bedroom units from S$2.96 million.
"Fifty per cent of the three-bedroom units will be below S$1.5 million," the developer said, pandering to buyers with limited purchase quantum appetites owing to loan curbs. "In per square foot (psf) terms, the price range will be between S$1,430 psf and S$1,830 psf."
BT understands that the overall average price is S$1,630 psf.
There are also four single-storey five-bedroom penthouses which will have private pools, jacuzzi and private roof terraces.
R'ST Research director Ong Kah Seng expects "quite positive" demand from both owner-occupiers and investors.
This is because the locality is popular among expatriate tenants and foreign professionals who are on limited housing allowances and are seeking a cost-effective city-fringe destination.
This is, however, mitigated by substantial new private residential completions since 2014, which leave tenants spoilt for choice.
Mr Ong finds the price a little steeper than usual for a city-fringe location, however. "Ideally, for Rest of Central Region localities, prices should not exceed S$1,500 psf and will likely see strong buyers' demand if priced at about S$1,350 to S$1,450 psf," he said.
Post-TDSR (Total Debt Servicing Ratio), there are new appropriate price brackets for each region of new private home launches, as the framework constrains property loans quite significantly, he explained.
The sales gallery and show suites are located at Dundee Road across Queenstown MRT Station. Queens Peak is expected to be ready for handover of units in December 2020. It is being marketed by SLP and Knight Frank.