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Thread: Sim Lian Group to launch Parc Lumiere on April 18

  1. #1
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    Default Sim Lian Group to launch Parc Lumiere on April 18

    April 17, 2009 Friday

    Simei condo-style flats: No balloting

    360 four- and five-room DBSS units can be booked on the spot

    By Joyce Teo

    An artist's impression of the Parc Lumiere development under the Design, Build and Sell Scheme. The project will offer condo-style fittings but not facilities. -- PHOTO: SIM LIAN GROUP

    A NEW condo-style estate being launched by the Housing Board will allow buyers to secure a flat on the spot and not have to join a ballot like for other Design, Build and Sell Scheme (DBSS) projects.

    Parc Lumiere at Simei Road will have 120 four-room flats and 240 five-room units. The four-roomers, of 1,012 sq ft each, are priced at between $378,000 and $425,000. The five-roomers range from 1,152 sq ft to 1,195 sq ft and are priced at between $462,000 and $575,000. The average price is $425 per sq ft (psf).

    The walk-in selection sale starts with a viewing period from tomorrow for buyers to check out the showflats and enquire about eligibility. Booking on a first-come, first-served basis starts next Tuesday. The executive director of developer Sim Lian Group, Ms Diana Kuik, said the booking date may be brought forward if there is strong interest.

    Parc Lumiere will have eight 12-storey blocks and an elevated landscape deck. Like other DBSS projects, it offers condo-style fittings such as bay windows and balconies, built-in wardrobes and kitchen cabinets. But unlike condominiums, DBSS projects do not have facilities such as pools and barbecue pits.

    The Peak @ Toa Payoh, a DBSS project with 1,203 units, was launched on Wednesday for sale via the balloting system. Buyers have until April 28 to apply.

    DBSS projects are public housing and so are subject to rules for new HDB flats. For instance, only those who earn $8,000 or less a month can buy them.

    Because DBSS homes are sandwiched in a narrowing price gap between private condominiums and HDB flats, experts have cited a $500,000 price point as the resistance level for such homes.

    Real estate company PropNex's chief executive Mohamed Ismail Gafoor said there may be some buyer resistance for the Parc Lumiere five-roomers.

    Other DBSS projects like Natura Loft in Bishan and Park Central in Ang Mo Kio still have units available for sale.

    Recent DBSS projects take into account peak HDB prices because the developers had bought their land when the market was still fairly strong, Mr Ismail said. Sim Lian bought the Simei site last June for $137 psf of potential gross floor area.

    Mr Ismail said four- and five-room flats in Simei are now valued at around $350 psf. If buyers do not mind an older flat, they can get a five-room unit nearer the Simei MRT station for the price of a four-room DBSS flat, he said.

    Ms Kuik said Sim Lian should be able to complete Parc Lumiere by the first half of 2011. The developer was behind Singapore's first DBSS project, the 616-unit Premiere @ Tampines, which drew nearly 6,000 applications in late 2006.

    [email protected]

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    Sim Lian Group to launch Parc Lumiere on April 18

    By Wong Siew Ying, Channel NewsAsia | Posted: 16 April 2009 2200 hrs

    SINGAPORE: Main board listed developer Sim Lian Group will launch its latest development, Parc Lumiere, by walk-in-selection on April 18.

    Parc Lumiere is a public housing project under the Housing & Development Board's "Design, Build and Sell Scheme" (DBSS).

    The development which is located near the Simei MRT station will comprise 360 four and five room units.

    Sim Lian said the average selling price for the project is S$425 per square foot.

    This translates to between S$378,000 and S$425,000 for a 4-room unit, or between S$462,000 and S$575,000 for the 5-room flat.

    Viewing period for the units will begin from April 18 and home buyers can place their bookings from April 21.

    Sim Lian said booking of flats will be made on a first-come-first-served basis and buyers will make payment for the units based on the Progress Payment model. - CNA/vm

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    New DBSS project sees queue days before applications open

    By Seet Sok Hwee, Channel NewsAsia | Posted: 17 April 2009 2231 hrs

    Artist's impression of Parc Lumiere - SIM LIAN GROUP website

    SINGAPORE: Over a hundred people have started queuing for the latest public housing project in Simei even though bookings are not scheduled to start till Tuesday.

    Eager house-hunters have been at the Simei Road site since 8am in hope of viewing and eventually booking a unit at Parc Lumiere a new project under the Housing and Development Board's (HDB) Design, Build and Sell Scheme (DBSS).

    They are taking no chances, especially when applications will be accepted on a first-come-first-served basis only.

    Given the strong response, developers said applications may open from Saturday instead.

    Four-room units at Parc Lumiere are priced between S$378,000 and S$425,000, while 5-room units are priced between S$462,000 and S$575,000.

    One house-hunter said: "Price-wise, I don't have a choice! I need a house. The longer I wait, the price will keep increasing. I haven't seen a trend in prices dropping, so I have to get it. It's now or never."

    Under this scheme, private developers manage the project from its design to construction and sale.

    While units may come with condominium-like furnishings, the projects do not have facilities found in condominiums such as swimming pools.

    - CNA/so

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    April 18, 2009 Saturday

    Early birds flock to Parc Lumiere

    Developer says it may open bookings today if queue grows longer

    By Joanna Seow

    HUNDREDS of potential buyers queued overnight at the Parc Lumiere site in Simei hoping to secure one of the new condo-like apartments that are not due to go on sale until next Tuesday.

    An estimated 200 people had joined the line by 5pm, hoping to land a unit in the latest project developed under the Design, Build and Sell Scheme (DBSS).

    Buyers do not have to chance a ballot like in usual DBSS developments but can book a unit on the spot. The average selling price at the Parc Lumiere is $425 per sq ft.

    Two tents sheltering rows of chairs have been set up outside the project's show flat - one for those interested in 'booking' a flat and one for those who want a viewing.

    The booking tent was teeming with interested buyers yesterday.

    Developer Sim Lian Group, which brought in extra cooling units and gave those queuing free lunches, planned to start bookings on Tuesday but may end up opening bookings today if the queue lengthens.

    'I'm overwhelmed,' said Sim Lian executive director Diana Kuik. 'We didn't expect them to come on Friday before seeing the show flat.'

    The walk-in-selection process - a first for new flats in recent years - involves a basic pre-screening process while certain conditions must be met before buyers can book a unit.

    They must then pay a deposit of 5 per cent of the purchase price. The final confirmation of a buyer's eligibility will be determined by the HDB.

    Flats will be booked on a first-come first-served basis, which is why potential buyers like Ms Florence Lim turned up at 8am yesterday.

    The assistant sales manager, who is in her 40s, took leave to queue and was intending to stay overnight, taking turns with her husband and son. She was first in line and hopes to get a five-room flat.

    'I've aimed here for a long time, ever since I applied for The Premiere (at Tampines) but was unsuccessful,' she said.

    Ms Queena Tan, 30, who works in advertising, said she preferred a new DBSS unit to a resale HDB flat, adding: 'I like this area as it's rather peaceful and accessible.'

    Ms Tan and her fiance will take turns to queue and they plan to stay in line until the booking period begins, even if it is not brought forward to today from next Tuesday.

    'With the upcoming university and the development of Changi Business Park, we expect increases in the prices of houses in this area. That's why we feel it is a good investment,' she added.

    Some in the queue jumped at the chance to buy a flat that did not require too much extra work.

    'We want the balcony and the fittings, and it's in move-in condition so we don't need to fork out extra to renovate,' said bank executive Cheong C. H., 30.

    Ms Kuik of Sim Lian believes the small number of units available - 240 five-roomers and 120 four-room units - 'maybe makes some buyers anxious'.

    'There could also be some pent-up demand as there have been no new HDB flats in Simei and Tampines for the past 12 years, with the exception of The Premiere @ Tampines,' she said.

    Knight Frank director of research and consultancy Nicholas Mak said the strong response 'is another indication that the buying interest in the mass market is still quite buoyant'.

    He added that the purchasing power of some first-time buyers may limit the take-up rate of the four- and five-room flats.

    'It's going to be interesting, seeing as there are no three-room flats. Four-room flats will probably sell quite well but five-room flats may need some demand from HDB upgraders.'

    The four-roomers at 1,012 sq ft each are priced at between $378,000 and $425,000. Five-room flats range from 1,152 to 1,195 sq ft and are priced at between $462,000 and $575,000 each.

    March sales of private homes revealed that HDB upgraders were the most active group of buyers. It may be that this group is also interested in DBSS projects, which offer condo-like fittings at what is perceived to be a slightly lower price.

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