Can they really take their time if the lease is 99 years?Originally Posted by gohsoonk
Can they really take their time if the lease is 99 years?Originally Posted by gohsoonk
top up is cheap mah...i heard rumours they acquired the land like less den 100psf...hahahaha
means owners who shift in will have to face construction noise and dust for years since there will be 4 more projects?Originally Posted by gohsoonk
but prices likely to move up as well...so get those facing internal pool will be the best la. let ur neighbours shield the dust and noise for uOriginally Posted by blackpepperj
agree on that.Originally Posted by devilplate
Livia comes with 2 tennis courts? Quite rare in new developments.
Yes. Dirt cheap. Even sell at 500psf...still make a lot.
Heard that it was initially purchased as agricultural land (FH) decades ago. It was a long process to convert it to LH (residential).
Originally Posted by devilplate
True. Certain stacks will probably get it more than others for the time being.
Originally Posted by blackpepperj
as what devilplate says, top up is really peanuts compared to the potential profit on launching at the right time.
Originally Posted by urban
help.. i just bought a unit n wanted to join livia group @yahoo but can't get in..
Do pm me your email address.
Originally Posted by romeo
Pm-ed.. hope to hear from u soon..Originally Posted by gohsoonk
I have given you the reply. Welcome to the group!
Originally Posted by romeo
Good support for LIVIA.
Published October 22, 2010
Pasir Ris EC site draws top bid of $262.62 psf
By KALPANA RASHIWALA
A 60-40 joint venture between NTUC Choice Homes Co-operative and Chip Eng Seng Corporation has emerged as the highest bidder for an executive condo (EC) site in Pasir Ris.
Its bid of about $89.89 million works out to $262.62 per square foot per plot ratio (psf ppr) - just 0.6 per cent above the next highest bid of $89.33 million or $260.99 psf ppr from EL Development - in one of the most tightly contested state land tenders. The tender drew six bids.
Choice Homes and Chip Eng Seng said yesterday that they intend to build an 18-storey, 320-unit project with full condo facilities. 'This will be the first EC to be offered in Pasir Ris since 2002,' they said.
Breakeven cost for the project will be below $600 per square foot, they added.
Credo Real Estate executive director Ong Teck Hui estimates that an EC development on the site could command an average selling price of about $650-700 psf if it were to be launched today.
ECs are a hybrid of public and private housing.
The plot, bounded by Pasir Ris Drive 1, Elias Road and Sungei Api Api, is flanked by Ris Grandeur on one side and Livia and NV Residences on the other. All three are private condos. NV Residences, which has 99-year leasehold tenure, was launched last month.
CB Richard Ellis executive director Joseph Tan said: 'Given that 347 units were sold at NV Residences last month at a median price of $859 psf, there will be a market for this new EC project if it is priced at about 20-25 per cent below this level, given the restrictions on EC ownership, which are similar to HDB ownership rules.'
Other bidders at yesterday's tender included a joint venture between Frasers Centrepoint unit Opal Star and Lum Chang Building Contractors ($251.49 psf ppr); and City Developments subsidiary Sunmaster Holdings ($240.71).
A partnership involving Hoi Hup Realty, Sunway Developments and SC Wong Holdings bid $230.43 psf ppr, while Ecco Development placed the lowest bid of $178.22 psf ppr. Credo's Mr Ong said: 'The tender response for the Pasir Ris site was a shade better than that for a Punggol site last month in terms of price as well as bidder interest. This is probably due to Pasir Ris being a more mature and developed location. Also this is a less crowded sub-market since most of this year's EC sites have been concentrated in the north-east region, especially Sengkang/Punggol.'
The bid price and interest level indicates the bidders' confidence that there will be sustained buyer interest in ECs, he added.
Originally Posted by gohsoonk
help.. i can't join livia group @yahoo..
can u help?
woah, it's going to be crowded at pasir ris grove in future, hdb dwellers there will not welcome us..
Pm me your email address...
Interestingly, the group is growing fast now since it is nearer TOP.
Originally Posted by Chris Tan
With the developments happening, there will be an enclave of private developments between Elias Road, Pasir Ris Dr 8, Pasir Ris Dr 1. Oasis@Elias is the odd one out though...
Originally Posted by romeo
Hi, I have pm you my email liao. thx!Originally Posted by gohsoonk
yeah.. more n more livians..
Livians will be the first to inhabit on that big piece of land...before the rise of the concrete jungle...the landscape will change significantly...
I am pretty sure there will be a string of new businesses sprouting everywhere in Pasir Ris to cater to the group of new Pasir Ris residents...
Doesn't make sense for residents to drive all over the island to hunt for nice alfresco dining over the weekend...
Originally Posted by romeo
hope there will be a new mall around..and future MRT near Elias
there are so many EC gonna launch in Pasir ris , prices around 500 - 700psf. wouldn't it be much better to buy EC rather than Livia at 800psf ?Originally Posted by boon127
Actually, timing is cost opportunity. 5 years to open up to resale market is a cost opportunity.
In terms of furnishings, there is a difference as well in general (if you observe)
Originally Posted by Lovelle
investors like me cannot buy direct EC mah...Originally Posted by Lovelle
its like y buy resale flats in punggol whrby u can buy BTO at much cheaper prices...
the only EC which i can buy is Eastvale which is not cheap either...
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