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Thread: St Patrick's Residences (D15, Freehold, TG Developments)

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    Default St Patrick's Residences (D15, Freehold, TG Developments)

    http://www.straitstimes.com/Invest/S...ry_344386.html

    March 1, 2009

    property

    Property market starting to stir

    Success of two new launches encourages a few developers to release their projects

    By Joyce Teo, Property Correspondent


    Over the weekend, 30 units of the 102-unit St Patrick's Residences in St Patrick's Road in the East were launched. The 646-unit Double Bay Residences in Simei should go on sale soon, with prices set at around $650 psf to $680 psf. -- PHOTO: TG DEVELOPMENT PHOTO: UOL GROUP

    View more photos

    Thanks to the mini-buzz created by two new successful launches - Caspian in Jurong and Alexis @ Alexandra - a few developers have decided to release their projects for sale.

    It is an improvement, even if it is just a slight one, from the very sombre mood a month ago, when market watchers were expecting the lull in the market to continue.

    Over the weekend, TG Development launched 30 units of the freehold, 102-unit St Patrick's Residences in St Patrick's Road in the East.

    On average, prices start at around $675 per sq ft (psf) for a two-bedroom unit and rise to about $900 psf for a four-bedroom penthouse.

    Unit sizes range from 1,152 sq ft for the two-bedroom units to 3,423sqft for the four-bedroom penthouses. Some three-bedroom units can cost just under $1 million.

    The interest absorption scheme, which allows buyers - if they take a loan from the start - to defer making any payments beyond the initial down payment until the project is completed, is offered at a 3 per cent premium.

    Marketing agent Savills said the condominium offers quality furnishings and fittings usually associated with prime projects, and that a few units have been sold since the preview a week ago.


    Near Upper Bukit Timah, Hiap Hoe has launched The Beverly, its 118-unit condo in Toh Tuck Road.

    Each unit is served by a private lift. Prices start at $648 psf; the average price is $750 psf. This means that the total price per unit should start from just below $1 million.

    Unit sizes range from 1,120 sq ft for the two-bedders to 4,187 sq ft for the four-bedders. There are also double-storey penthouses from 2,099 sq ft to 3,757 sq ft. Hiap Hoe is not offering the interest absorption scheme.

    Other projects expected this month include Double Bay Residences in Simei, The Arte in Thomson, Domus in Irrawaddy Road and an 18-storey project in River Valley.

    These are in the mass- to mid-market categories that, unlike the high-end segment, are still attracting buyers.

    New home sales in January had plunged to a new low as developers and buyers kept to the sidelines.

    The two new projects that sold very well about two to three weeks ago - Caspian and Alexis - helped revive the market mood to a certain extent.

    The Caspian showflat was packed during the preview, when 300 out of 712 units were sold at average prices starting from $580 psf. So far, more than 500 units have been sold.

    The 293 Alexis units were all sold at $950 psf to $1,250 psf, but the absolute prices were reasonable, given that most units are small.

    At a results briefing last Thursday, City Developments' Kwek Leng Joo cited the good take-up at the two projects as proof that there is still demand.

    'The good response to recent launches is true,' he said.

    Still, the stock market and buying sentiment remain weak.

    Ms Phylicia Ang, director of Savills Residential, said: 'The affordability threshold is key at this point. In the current market, it is important to price projects at an attractive level to attract buyers.'

    The UOL group should start selling the 646-unit Double Bay Residences near the Simei MRT station soon. It declined to give pricing details of the 99-year leasehold condo until the launch, but there is talk that prices will be around $650 psf to $680 psf.

    The one-bedders start at 538 sq ft, the two-bedroom units from 915sq ft, while the big units can go up to 3,703 sq ft.

    Along Thomson Road, The Arte is expected to be released for preview sale by the middle of the month.

    Property agents have advertised the preview of the 336-unit, freehold condo at prices starting at more than $950 psf.

    About half of the project, or 164 units, are three-bedroom units from 1,399 sq ft to 1,625 sq ft. Another 100 units are 1,873 sq ft four-bedders.

    There are also advertisements for the preview of the 18-storey, 67-unit project in River Valley, which offers the interest absorption scheme. It has mostly small units - 32 are 635 sq ft apartments and 30 are 1,044 sq ft units.

    A Chinese developer, Lakeview Developments, may also push out its 104-unit Domus this month.

    High-end launches will likely be few and far between this year, as current demand is coming only from owner-occupiers or very small investors, according to a developer.

    There should be more mass- to mid-market projects coming up in the next few months. These could include projects like the 99-year leasehold Ascentia Sky next to the Redhill MRT station. It offers two- to four-bedroom units from approximately 1,000 sq ft to 1,800 sq ft.

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    Showflat had;

    1) imaginary walls for living room (such that you think that the apartment is very spacious, but if the walls are really there, actually space very cramp)

    2) dinning table was put in a broken down room (therefore, if you add back the room walls, space is further confined)

    3) Lots of bay windows..

    4) dinning hall & one of the rooms face a wall.. so what you see out of your window.. a stoney wall..

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    Eyeing a unit which is directly below a penthouse swimming pool. Does anyone has any experience on ceiling leakage due to such layout?

    Any comments would be appreciated!

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    Default problem

    Quote Originally Posted by ariel-belle
    Eyeing a unit which is directly below a penthouse swimming pool. Does anyone has any experience on ceiling leakage due to such layout?

    Any comments would be appreciated!
    warrenty period usually for 5 years only. That's when the problem arises... Think thrice.

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    Agree the design of the place is not fab. Went to the pre launch, and was put off that the dining and 1 bedroom window is like within 1 m from a wall!

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    there are many balconies (up to three) for the 3 bedder..
    but heard almost all sold out, since it near to good school and opp marine parade mkt

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    Quote Originally Posted by WolleyDragon
    Showflat had;

    1) imaginary walls for living room (such that you think that the apartment is very spacious, but if the walls are really there, actually space very cramp)

    2) dinning table was put in a broken down room (therefore, if you add back the room walls, space is further confined)

    3) Lots of bay windows..

    4) dinning hall & one of the rooms face a wall.. so what you see out of your window.. a stoney wall..


    yes, the wall are removed...false impression of space.
    one of the balcony faced a wall...wonder why has such balcony.

    the wall probably restrict ventilation and airflow, esp for near gnd unit...there a wall separarting you from neighbour..

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    but heard all sold out...and showflat has already tear down...
    in term of psf, it lower, but size is quite big, so quantum usually >1.2m

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    Default St Patrick's Residences

    Would appreciate the view of the property experts in this forum.

    Under the URA website which displays transacted sale transactions, St Patrick's Residences is classified as "Apartment" whereas the completed projects Tierra Vue and Grand Duchess @ St Patrick are classified as condominium status.

    Plot area of Tierra Vue and Grand Duchess is slightly bigger than St Patrick's Residences. St Patrick has 102 units. Tierra Value has 122 units and Grand Duchess 121 units.

    Why the difference in status?

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    in term of location, grand duchess a bit too near school for comfort. st patr and tierra quite okay ...both quite comparable, in my view

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    I do agree that it is damn near.

    However, I have to admit that it is a very nice development. Just drove past there today. :P

    Quote Originally Posted by marktkt22
    in term of location, grand duchess a bit too near school for comfort. st patr and tierra quite okay ...both quite comparable, in my view

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    Quote Originally Posted by gohsoonk
    I do agree that it is damn near.

    However, I have to admit that it is a very nice development. Just drove past there today. :P
    agree..I read somewhere grand duchess win some kinds of architecture award ..i think it in the grand duchess thread. better dont dwell on GD, this is a St Patr thread. ...

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    Not enough common area to qualify as a condo. I can't remember - something like u need 40% of land area as common area to quality as a condo. So if your apartment is very built up with little common area (e.g. landscape, tennis court, pool), it will fail the "condo" test. Sorry, I cannot find the exact definition. You probably can google and find it somewhere.

    Quote Originally Posted by tiverton18
    Would appreciate the view of the property experts in this forum.

    Under the URA website which displays transacted sale transactions, St Patrick's Residences is classified as "Apartment" whereas the completed projects Tierra Vue and Grand Duchess @ St Patrick are classified as condominium status.

    Plot area of Tierra Vue and Grand Duchess is slightly bigger than St Patrick's Residences. St Patrick has 102 units. Tierra Value has 122 units and Grand Duchess 121 units.

    Why the difference in status?

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    Default St Patrick's Residences

    Thanks bro Wild Falcon,

    At last, someone has attempted to answer my question.

    I have tried to google but couldnt get the answer. Your answer seems plausible as I have compared the site map of St Pat with that of Tierra Vue and Grand Duchess. Seems that the common area of St Pat is relatively small. However, St Pat still comes with the usual condo facilities although it is classified as apartment status.

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    Wild Falcon should be correct.

    Refer to http://keithyip.com/2010/01/23/diffe...m-development/ for difference.

    Refer to http://www.corenet.gov.sg/circulars/text/dc96-22.html for site coverage definition.

    Quote Originally Posted by tiverton18
    Thanks bro Wild Falcon,

    At last, someone has attempted to answer my question.

    I have tried to google but couldnt get the answer. Your answer seems plausible as I have compared the site map of St Pat with that of Tierra Vue and Grand Duchess. Seems that the common area of St Pat is relatively small. However, St Pat still comes with the usual condo facilities although it is classified as apartment status.

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    Quote Originally Posted by tiverton18
    Thanks bro Wild Falcon,

    At last, someone has attempted to answer my question.

    I have tried to google but couldnt get the answer. Your answer seems plausible as I have compared the site map of St Pat with that of Tierra Vue and Grand Duchess. Seems that the common area of St Pat is relatively small. However, St Pat still comes with the usual condo facilities although it is classified as apartment status.
    don't think it has a tennis court though.

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    Default St Patrick's Residences

    Quote Originally Posted by gohsoonk
    Wild Falcon should be correct.

    Refer to http://keithyip.com/2010/01/23/diffe...m-development/ for difference.

    Refer to http://www.corenet.gov.sg/circulars/text/dc96-22.html for site coverage definition.
    Thanks bro Goh for the information and relevant websites which clearly explains the difference between a condo and apartment classification.

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    Default St Patrick's Residences

    Quote Originally Posted by eng81157
    don't think it has a tennis court though.
    The small site area can only accommodate a 23.3m x .7.7m swimming pool, let alone a tennis court.

    In any case, tennis court in most huge condo is under utilized. Maybe less people are interested in this physical and strenuous sport.

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    Any idea whether the typical units of St Pat Residences are fully sold.

    So far, has any sub sale been done?

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    I recall seeing a sub-sale caveat last week. Forgot where and how much it was for.

    Developer still has units going for around $1100 psf.

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    Latest from URA website:

    ST PATRICK'S RESIDENCES in Apr-10

    Price $1,658,000
    Area 1,518 sq ft
    PSF $1,092

    Cheers!

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    Agent told me that there are still 20 plus units left for this project from the developer. any thoughts on this project? seems like the balconies are large and all the rooms have balconies? what do you guys think is the investment potential?

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    Quote Originally Posted by Emma
    Agent told me that there are still 20 plus units left for this project from the developer. any thoughts on this project? seems like the balconies are large and all the rooms have balconies? what do you guys think is the investment potential?
    location so-so, nothing to shout about. i would pick grand duchess anytime over this development.

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    Default Balcony sliding screen

    St Patrick OPT next week. As buyer, I am getting my key next week. Bought a 3BR unit there due to location to good primary school.

    The developer said it obtained approval to stall sliding sun screens on balcony. Its show room has such balcony sun screen installed.

    do any one know where to find contractor/supplier for such sun screens?

    Attaching a picture I found from other property:
    http://www.fareast.com.sg/en/Residen...RelaxPool.ashx

    Thanks!

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    Why not directly enquire FEO for the brand? Or visit their project showflat.

    Do share pics of the place once u get keys... TIA

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    Got my key today, but really it is a lot of disappointment. The room is not painted right, and there are defects all over the place. Small ones but still mind buggling to see them and developer said to take another month to polish up.

    My question is, why the government authority gives developer the OPT approval knowing there are so many work not done properly?

    I am first time buying property directly from developer. As developer lawyer presented OPT approval and asked me to pay the rest 25%, I followed that letter, but very disappointed to see I can not really move in at all, as contractor needs another month to sort these defects out.

    Is this common practice for developers in Singapore to deliver such condo to purchaser and then address the known defects later?

    Can someone provide some legal opinions and can they really do this to me? or Should I refuse to take over the condo?

    Showing some defects pictures here. Horrible to me to have them there while developer pushed me to pay the balance payment and key delivery.



    Quote Originally Posted by TheOnlyGayInTheVillage
    Why not directly enquire FEO for the brand? Or visit their project showflat.

    Do share pics of the place once u get keys... TIA

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    This is not a FEO project.
    It was quite overpriced at time of launching.
    I am very surprised of the poor delivery.
    Look like it will take a long time to rectify as it took so long to build and sell.

    Project TOP does not assure of quality but mainly in complying with requirements like structural, fire, sewerage etc.

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    thanks what is a "FEO" project refers to?

    The launch psf price was not high in lieu of how much the price run up. I do note the buyer of the unit one floor above me bought it in two some years ago, and his price stood half of my price paid this year.

    I was informed a new contractor was hired for the "touching up" of defects.

    Do I have an option to reject the unit for taking over, and wait for one month before contractor fixed these conditions and we can really move in?

    Quote Originally Posted by Laguna
    This is not a FEO project.
    It was quite overpriced at time of launching.
    I am very surprised of the poor delivery.
    Look like it will take a long time to rectify as it took so long to build and sell.

    Project TOP does not assure of quality but mainly in complying with requirements like structural, fire, sewerage etc.

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    TOP is awarded if the development is safe, as laguna has pointed out. you can always wait till all works have been rectified before moving in, thus saving the hassle of having your daily routines disrupted by the correction works.

    one warning i have though, i know of a horrible owner of a 4rm/PH unit. hope this couple don't end up being your neighbour

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    Quote Originally Posted by freefly4587
    thanks what is a "FEO" project refers to?

    The launch psf price was not high in lieu of how much the price run up. I do note the buyer of the unit one floor above me bought it in two some years ago, and his price stood half of my price paid this year.

    I was informed a new contractor was hired for the "touching up" of defects.

    Do I have an option to reject the unit for taking over, and wait for one month before contractor fixed these conditions and we can really move in?
    FEO is for posting 25, Far East Organisation
    There is no ground to reject the unit under the S&P, the developer is to rectify within one month from the date of joint inspection.

    Inform the MSCT when formed, to have a proper joint inspection of common property

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