9-year old The Rivervale EC resale hit $547psf.
Good price support for The Quartz?
YES - Not enough CPF Minimum Sum...sigh.
YES - Need to get higher loan for Condo. Not worth it.
NO - I can get good rental yield. Shiok man.
NO - Other reason.
F01 N54 Sheer Driving Pleasure
9-year old The Rivervale EC resale hit $547psf.
Good price support for The Quartz?
F01 N54 Sheer Driving Pleasure
It seems like 9-year-old The Rivervale EC $547 psf is no fight for 5-year-old Nuovo EC $637 psf. "Still short of $90 psf!"Originally Posted by Reporter
Should 3-month-old The Quartz be selling at the same price as 5-year-old Nuovo EC? Who knows?
Prices of Nuovo EC cross $600psf on 'Centro-effect'
The Edge
Monday, 5 October 2009
There’s been a spurt in sales at Nuovo in Ang Mo Kio recently, after the executive condominium (EC) crossed the five-year minimum-occupation period. Seven units changed hands from Sept 4 to 11, according to caveats lodged with URA Realis. In 2006 and 2008, there was only one transaction each, and two deals in 2007. Owners who sold recently are taking advantage of the “Centro-effect”, caused by the launch of giant property developer Far East Organization’s 329-unit Centro Residences in Ang Mo Kio Avenue 8. Units there have been sold at an average of $1,179 psf from its launch in August to Sept 11, according to figures from URA Realis. Between Sept 4 and 11, an 893 sq ft unit sold for $1.07 million, or $1,199 psf.
Given that it’s a private condominium, Centro Residences doesn’t have the same restrictions that Nuovo, an EC, has. Under HDB rules, owners of ECs are only allowed to sell their units to Singapore citizens or permanent residents five years after the project receives Temporary Occupation Permit (TOP), which, for the 297-unit Nuovo, was in 2004. It’s only 10 years after TOP that units in ECs can be traded like any other private condominium in the resale market, with sales to foreigners allowed as well.
However, the owners of Nuovo should be delighted at transaction prices in the range of $477 to $637 psf, as they are the highest achieved since the property was launched at end-2001. Prices at that time were hovering at $400 psf.
For instance, a 1,119 sq ft unit on the ninth floor went for $710,000, or $634 psf. This is a gain of 52% for the original owner, who had purchased it from developer City Developments Ltd (CDL) for $467,276 in 2002. A larger unit on the 17th floor went for $1.2 million, or $477 psf. The 2,594 sq ft condominium was purchased for $812,746 in 2001.
Other condominiums along Ang Mo Kio Avenue 9 have also benefited from the Centro effect, with a unit at Far Horizon Gardens, a condominium completed in the 1980s, changing hands in the resale market at $508 psf last month, the highest price psf achieved in the project this year.
Sellers are also benefiting from the recovery in the residential sector, which saw a marked 15.9% jump in the 3Q residential price index — the largest q-o-q increase seen in the index since 1981, according to URA’s 3Q flash estimate last week. As a result of this big increase, the 3Q price index is now 5.1% below that in 4Q2008 even though it registered a total decline of 18.1% in the first two quarters of 2009. The residential price index is more or less at the levels seen in 2Q2007.
Newbie
TQ is currently transacted at 700+ range liaw. Please do your market check first.
F01 N54 Sheer Driving Pleasure
Sengkang rising
The Sunday Times
Sunday, 18 October 2009
Sengkang Riverside Park
Retiree Pang Toon Chee, 58, and housewife Tan Geok Hoon, 55, moved into the township of Sengkang two years ago.
The name Sengkang drew sniggers because people thought that it was too far from town. But it was precisely the peacefulness of the area that Mr Pang liked.
A few evenings ago though, the quiet of his estate was shattered by a revving car roaring down the roads late at night. It was such a racket that Mr Pang thought that the F1 had come to Sengkang.
He recalls: ‘Someone was driving a modified car down the road. It’s getting noisier here already.’
While some might think that the Pangs are lucky to have just an isolated incident of deafening noise, it shows how Sengkang, located between Punggol and Hougang, is changing.
Once known as Kangkar, the name Sengkang – meaning ‘prosperous harbour’ in dialect – comes from a road called Lorong Sengkang, off Lorong Buangkok.
The area was home to sparse settlements such as fishing villages and plantations scattered along river banks.
Development started in 1995 when the Housing Board (HDB) began construction of blocks 133 to 140, completed in 1997.
The plan was to create a new town in Sengkang that will eventually house 90,000 public and private housing units in the long term, a size comparable to larger and more mature new towns such as Jurong West and Tampines.
Yet there have been numerous newspaper reports of new HDB flat applicants shunning flats in the area.
Residents, businesses and Members of Parliament declare that Sengkang’s ‘ulu’ tag is out of date. This town in the north-eastern part of Singapore, now 60% developed, is bustling with life.
Case in point: SBS Transit has experienced a 20% increase in train ridership ‘for the Sengkang North East Line station over the last few years’.
The transport operator runs 19 bus lines, the North East MRT Line and 14 LRT stations in the area. In 1999, it ran just eight bus services.
With more amenities and increased appeal also comes better property values for Sengkang HDB units. Some flats are worth almost $100,000 more than the original price owners paid about 10 years ago, say property experts.
LifeStyle spent a day in Sengkang, and found the area buzzing. This is especially so in the more mature estates such as Rivervale and Anchorvale, as well as main mall Compass Point, which opened in 2002.
Ms Mazlinda Osman has been a Rivervale resident for over a decade. The 37-year-old housewife says: ‘Previously, I went down to Hougang for my groceries. Now, of course, it’s much more convenient.’
She adds that her five children go to schools around the area, and there are expressways such as the KPE which links them to the city.
A resident of decade-old Anchorvale estate, Mr Steven Peh, 38, who is self-employed, says: ‘It’s easy to get to town with just a 20- to 30-minute train ride. For groceries, my wife and I go to the Sengkang NTUC supermarket. It doesn’t feel that ulu, actually. ‘
North East District Mayor Teo Ser Luck, who is also MP for the Pasir Ris-Punggol GRC which covers the eastern part of Sengkang, says: ‘The ‘ulu’ tag is just a label. The name Sengkang itself might not sound very ‘in’. It could be due to the fact that, in the past, Sengkang was more associated with remote fishing areas.
‘Today, it’s different. It’s almost like an earlier Bishan, Toa Payoh or Tampines. The place is maturing, from the transport system to other amenities. All these are part of a growing town cycle.’
Dr Lam Pin Min, who is MP of Sengkang West ward in Ang Mo Kio GRC, adds: ‘Much has changed over the past three to five years. Sengkang West has transformed into a vibrant and interesting place.’
He points to infrastructure changes such as the new Anchorvale Community Club, Sengkang Sports and Recreation Centre, and Sengkang Riverside Park among others, while listing upcoming developments such as a central wet market.
Named Kopitiam Square, it will be a wet market cum food centre, managed by the Kopitiam Group, which has up to five outlets spread throughout Sengkang and Punggol.
The gradual public mindset change towards Sengkang also translates into rising property prices.
According to Mr Chris Koh, a director at realty firm Dennis Wee Group, an average four-room unit can fetch up to $340,000, compared with $250,000 five years ago. General demand in the area has also increased by 22%, he says.
Propnex property agent Gaz Aspar adds that while it took up to two months to secure a buyer for a Sengkang flat four years ago, it now takes only two to three weeks.
But there is still room for improvement, say young couples such as Mr Terence Chan and wife Ashley Neo.
Mr Chan, 28, who works in the marine industry, will be moving into his unit at Fernvale Court – one of the newer Sengkang estates – by the end of this year, but adds that his original choice was in Toa Payoh, close to his father. The couple applied for a Toa Payoh flat twice but was unsuccessful.
Mr Chan says: ‘It would be good if they had a cinema here, more NTUC supermarket branches and more bus services, including Express buses like those in Toa Payoh.’
His wife, also 28 and an auditor, adds: ‘We do like this environment because it’s more peaceful and there are a lot of young people like us.’
Urban planning expert from the Nanyang Technological University, Associate Professor Wong Tai-Chee, sums it up: ‘Given some 10 to 15 years, Sengkang will become a mature new town on the outskirts of the city comparable to Tampines.’
The Quartz condo
Sengkang stats
Land area: 1,055 ha
Area developed: 60%
Population: The township is one of the fastest growing – nearly tripling from 61,300 residents in June 2000 to 161,000 in June this year. The bulk of residents comprises people within the 25 to 39 age group.
Completed flats: 43,000 as of last month
MRT stations: 2 (Sengkang and Buangkok)
LRT stations: 14
Bus services: 21
Schools: More than 10
Wet markets: 2 (Fernvale Point and Rivervale Plaza)
Shoppping centres: 3 (Compass Point, Rivervale Mall and Fernvale Point)
Recreational facilities: Sengkang Sports and Recreation Centre, Sengkang Riverside Park
Source: HDB, URA, SMRT, SBS Transit, Singapore Department of Statistics
F01 N54 Sheer Driving Pleasure
Oops!
A friend told me The Rivervale EC has just hit $579 psf due to the "Nuovo EC $637psf effect".
It seems like The Rivervale is aiming for $600 psf now. Not that I stay or own anything in The Quartz, but this naturally forms a support for The Quartz.
Deepsea
all thanks to the epic centre at Centro, radiating effect...especially Grand8
F01 N54 Sheer Driving Pleasure
Even The Quartz's primary-sale high of $824 psf is no match for 6-year-old Compass Height's resale-high of $825 psf.Is $600psf a good buy?
Compass Heights
Address ............................... psf ............. Area ........ Price .......... Contract Date
11 Sengkang Square #13-43 ..... $825 psf ..... 689 sqft .... $568,000 ..... 8 Oct 09
Newbie
But this is a studio unit, and it is so normal that studio unit can fetch 10 to 20% more psf. What are you comparing actually?
Newbie
Any one has The Quartz's brochure/booklet that you do not need and willing to give away?
It will be great if I can have a copy. Please pm me. Thanks in advance.
F01 N54 Sheer Driving Pleasure
It looks like the Battle of the ECs has continued. Each EC has been working hard to break its last high.
- Almost-10-year-old The Rivervale (TR) hit $580 psf in October 2009.
- Going-6-year-old Nuovo hit $674 psf in December 2009.
- TR's neighbour, the going-6-year-old Park Green hit $591 psf in December 2009. That is $11 psf higher than TR!
- As a reference, going-12-year-old former-EC Simei Green hit $653 psf in January 2010.
Park Green
Address ........................ psf ............. Area ........... Price .......... Contract Date
8 Rivervale Link #13-15 ..... $591 psf ..... 1,184 sqft .... $700,000 ..... 15 Dec 09
The Quartz's owners must be feeling lucky with strong price support from its neighbouring EC's - The Rivervale and Park Green.
Unfortunately I am not vested!
F01 N54 Sheer Driving Pleasure
Sengkang condo land parcel sees top bid of S$200.5M
Millet Enriquez
Channel NewsAsia
Thursday, 4 February 2010, 2153 hrs
Developers still appear hungry for land that can be used for condominium development.
A tender for a land parcel in Sengkang saw robust bidding, with the top offer coming in at over S$200 million.
Industry experts said it is a sign that appetite among developers to snap good sites is currently on a high.
The site at Sengkang West Avenue and Fernvale Link received bids from 10 developers.
Sunmaster Holdings submitted an offer of S$200.5 million, more than 2.5 times the minimum bid of S$70 million.
The price translates to S$365 psf for the 16,998.8-sqm land area launched by the Housing and Development Board (HDB) on a 99-year lease.
The next highest bid came from Tuas Hi-Tech Park, with a bid of S$177 million.
The lowest bid of S$115.6 million was by Lippo Estates.
The HDB said it will evaluate the provisional results and the tender will be awarded in the next 2 weeks.
Industry observers said the top bid was very bullish.
Ngee Ann Polytechnic real estate lecturer Nicholas Mak says the breakeven cost would be about S$730 to S$760 psf.
Colliers said the top bid reflects the optimistic sentiment of developers.
In 2009, 3 other residential sites received bids that were higher than S$200 million.
F01 N54 Sheer Driving Pleasure
Wow!
Going-7-year-old Compass Heights has a nëw hïgh of $899 psf!
Unbelievable!
Compass Heights
Address ............................. psf ............. Area ........ Price .......... Contract Date
9 Sengkang Square #11-02 ..... $899 psf ..... 667 sqft .... $600,000 ..... 9 Jan 10
F01 N54 Sheer Driving Pleasure
EC site near Buangkok MRT draws $193.28M top bid
Kalpana Rashiwala
The Business Times
Thursday, 4 March 2010, 5.29 pm
The tender for a 99-year leasehold executive condominium (EC) development site near Buangkok MRT Station closed on Thursday with a top bid of $193.28 million or about $315 psf ppr.
The top bid came from a tie up between Opal Star Pte Ltd and Lum Chang Building Contractors Pte Ltd.
The tender, conducted by the Housing & Development Board, fetched a total 11 bids.
The 1.9 hectare plot can be developed into about 520 units.
ECs are a hybrid of pubilc and private housing. They are strata titled apartments with facilities comparable to private condos. New ECs are sold with initial eligibility, ownership and resale restrictions similar to public housing; but these are completely removed after 10 years.
The winning tenderer will have to set aside 95% of units in the initial month of sale for first-time home buyers, that is, those who have yet to receive a housing subsidy from Government.
F01 N54 Sheer Driving Pleasure
Buangkok site attracts highest-ever EC bid
The tender draws 11 bids, the highest being about $315 psf ppr
Kalpana Rashiwala
The Business Times
Friday, 5 March 2010
A 99-year-leasehold executive condominium (EC) housing site near Buangkok MRT Station has fetched the highest ever bid for an EC site.
The top bid from a partnership between Frasers Centrepoint and Lum Chang Building Contractors of $193.28 million or about $315 psf ppr surpassed the previous record of $220 psf ppr for the Summerdale EC site in Boon Lay in May 1997, noted property consultant CB Richard Ellis (CBRE).
Yesterday's tender drew a total of 11 bids, reflecting developers' continuing hunger for land. The top bid came in slightly above market expectations in January, when the Housing & Development Board (HDB) launched the site. ECs are a hybrid of private and public housing.
With Lum Chang expected to provide construction services for the project, the tie-up should be able to minimise construction costs, industry observers noted yesterday. By some market estimates, their breakeven cost for a new EC project could be below $600 psf. The duo are expected to build a higher proportion of small units to try and achieve higher psf selling prices.
Even so, there will be a limit as to how small the apartments can be, given the high standard of public housing set in the area, for HDB Aspella, comprising premium HDB flats next to Buangkok MRT Station, market watchers say.
A possible option, and one which Frasers Centrepoint has done before, is to have some apartments with its 'dual-key concept', where a regular-sized apartment and a granny apartment (with its own kitchenette and bathroom) are packaged as a single unit.
CBRE executive director Li Hiaw Ho reckons Frasers Centrepoint and Lum Chang could sell their units in the $650-$680 psf range on average. Based on that, a 1,200-sqft unit in the new development would be priced at about $800,000.
A Frasers Centrepoint spokesman said yesterday: 'This site is well-located, and in view of the tight supply and great demand, we are confident that it will be an attractive development especially to home buyers who have been recently priced out of the market. We are planning to build about 500-plus units on the site.'
In the secondary market, 3 EC projects in the north-east region - The Rivervale, Florida and Park Green - have sold at $520-$600 psf between October 2009 and February 2010, said CBRE.
Yesterday's top bid was just 1.4% above the 2nd highest offer of $310 psf ppr by MCC Land, part of the China Metallurgical Construction Group. Other bidders at yesterday's tender included a JV led by Hoi Hup Realty; United Engineers unit Greatearth Holdings and a tie-up between Choice Homes Investments and a subsidiary of Chip Eng Seng Corporation. Interestingly, property giants Far East Organization and City Developments emerged near the bottom of the bids' table. The lowest bid came from Boon Keng Development at $198.52 psf ppr.
ECs are strata-titled apartments with facilities comparable to private condos. New ECs are sold with initial eligibility, ownership and resale restrictions similar to public housing; but these are completely removed after 10 years.
Among the buyer eligibility criteria is a maximum $10,000 monthly household income. Qualifying first-time buyers who purchase new ECs may also apply for a $30,000 CPF housing grant.
The winning tenderer will have to set aside 95% of units in the initial month of sale for first-time home buyers - those who have yet to receive a housing subsidy from government. Second timers buying new ECs do not need to pay any resale levy.
The tender for another EC site, in Yishun, will close on March 11. HDB also announced yesterday it will launch another plot, also in Yishun, later this month or next month for development into HDB flats under the Design, Build & Sell Scheme. That site can potentially yield about 700 flats.
Newbie
Address Tenure PSF Area Price
67 Compassvale Bow #17-33 99 Yrs From 18/04/2005 $798 1604 $1280k
12 Feb 10
67 Compassvale Bow #17-33 99 Yrs From 18/04/2005 $592 1604 $950k
13 May 09
Congrats to this gentleman who make a COOL $300K+ in nine months.
Newbie
Thanks for the endorsement. Posted this at the Estuary Thread 5 days ago
http://forums.condosingapore.com/sho...5664#post85664
Last edited by Condorich; 08-03-10 at 11:26.
F01 N54 Sheer Driving Pleasure
A unit at almost-10-year-old The Rivervale sold last Sunday has set a nëw hïgh of $585 psf for the EC.It looks like the Battle of the ECs has continued. Each EC has been working hard to break its last high.
- Almost-10-year-old The Rivervale (TR) hit $580 psf in October 2009.
- Going-6-year-old Nuovo hit $674 psf in December 2009.
- TR's neighbour, the going-6-year-old Park Green hit $591 psf in December 2009. That is $11 psf higher than TR!
- As a reference, going-12-year-old former-EC Simei Green hit $653 psf in January 2010.
Park Green
Address ........................ psf ............. Area ........... Price .......... Contract Date
8 Rivervale Link #13-15 ..... $591 psf ..... 1,184 sqft .... $700,000 ..... 15 Dec 09
The Quartz's owners must be feeling lucky with strong price support from its neighbouring EC's - The Rivervale and Park Green.
Unfortunately I am not vested!
F01 N54 Sheer Driving Pleasure
Wow!
Going-6-year-old Park Green EC has hit a nëw hïgh of $598 psf!
Why not $600 psf? It's just $2 psf away!
Park Green
Address ........................ psf ............. Area ........... Price .......... Contract Date
8 Rivervale Link #08-10 ..... $598 psf ..... 1,163 sqft .... $695,000 ..... 10 Mar 10
Newbie
Cause buyer said must be below $600 psf...
F01 N54 Sheer Driving Pleasure
$585 psf?
It doesn't really matter any more.
Almost-10-year-old The Rivervale EC has hit a nëw hïgh of $622 psf!
The Rivervale
Address ........................ psf ............. Area ........... Price .......... Contract Date
7 Rivervale Link #14-35 ..... $622 psf ..... 1,335 sqft .... $830,000 ..... 1 Apr 10
F01 N54 Sheer Driving Pleasure
You want $600psf?
You get $600 psf!
Going-6-year-old Park Green EC has hit a nëw hïgh of $600 psf!
Park Green
Address ........................ psf ............. Area ........... Price .......... Contract Date
8 Rivervale Link #01-10 ..... $600 psf ..... 1,324 sqft .... $795,000 ..... 6 Apr 10
F01 N54 Sheer Driving Pleasure
Going-7-year-old Compass Heights has a nëw hïgh of $907 psf!
The $900 psf barrier has finally been broken!
Compass Heights
Address ............................. psf ............. Area ........ Price .......... Contract Date
9 Sengkang Square #09-02 ..... $907 psf ..... 667 sqft .... $605,000 ..... 21 Apr 10
F01 N54 Sheer Driving Pleasure
Sengkang site could see $700psf Executive Condo
H88
Wednesday, 26 May 2010, 11.53 am
A total of 7 bids were received by HDB for a 99-year leasehold plot of executive condominium (EC) land yesterday. The potential winner should be Maxdin Pte Ltd and Lee Carriers Pte Ltd, whose joint bid of $176M topped the bidding charts. That amount works to around $320 psf ppr and could result in a selling price in the region of $650-700psf.
Maxdin Pte Ltd is part of United Engineers' unit Greatearth Holding, who are in the construction industry. Lee Carriers is part of Lee Metal Group, who (obviously) deal with metals.
Executive Condos or ECs as they are commonly referred to, are meant to bridge the gap between public and private housing. Executive Condos offer good value but they come with some housing rules:
• the first owners are not allowed to sell their unit within 5 years
• after 5 years they can only sell to Singaporeans
• foreigners can only buy after 10 years
According to URA caveats for April 2010, prices of next door's Park Green and The Rivervale - both ECs - are going at at an average of $571 psf and $593 psf respectively.
F01 N54 Sheer Driving Pleasure
Which condo unit in District 19 Sengkang is the most expensive?
This honour has to go to that $1.85M penthouse in Compass Heights.
Compass Heights
Address ............................. psf ............ Area ........... Price .............. Contract Date
9 Sengkang Square #14-17 ..... $656 psf ..... 2,820 sqft .... $1,850,000 ..... 13 Apr 10
Newbie
but Greenwich V is not launched yet....
F01 N54 Sheer Driving Pleasure
Almost-10-year-old The Rivervale EC has hit a nëw hïgh of $638 psf!
The Rivervale
Address ........................ psf ............. Area ........... Price .......... Contract Date
1 Rivervale Link #11-15 ..... $638 psf ..... 1,313 sqft .... $838,000 ..... 17 May 10
F01 N54 Sheer Driving Pleasure
Going-6-year-old Park Green EC has hit a nëw hïgh of $615 psf!
Park Green
Address ......................... psf .............. Area .......... Price ........... Contract Date
10 Rivervale Link #08-17 ..... $615 psf ..... 1,496 sqft .... $920,000 ..... 18 May 10
I am new here...
Congratulation to owners of The Quartz as your project are the present Champions in most discussed and most views categories in Condosg...
I think both records will be hard to beat!
Until then...
Daft, Dafter, Dafterest!!!!
Newbie
Thank you for your effort in research and compilation of the data. Quartz is now selling at $900+ psf.Congratulation to owners of The Quartz as your project are the present Champions in most discussed and most views categories in Condosg...
I think both records will be hard to beat!
Until then...
Exalted
oredi hit 1kpsf lor! amazing!
i was still trying to nego down the px when developer slash down the px upon TOP......whahahahha
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