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Novelis @ Novena
Come to the Edge... Where it all happens
Rising to a height of 13 storeys, Novelis comprises only 24 meticulously designed units of 1, 2 and 3 bedroom apartments, tailored to suit various home needs. On the roof is an inviting swimming pool where one can relax in private and from where one can get an uninterrupted view of the scenic Singapore skyline.
Newbie
How much psf and who is the marketing agent?
Newbie
Hi surfers, the marketing agent is Huttons. After enquiring, I was told by some Huttons agents that the launch price is $1,100 to $1,200 psf while other agents also from Huttons told me that prices start from $1,200 psf to $1,300 psf. I was also told that there will not be a showflat and prospective buyers have been putting down blank cheques.As is with all recent Novelty projects, this comes with German and Italian designer bathroom and kitchen fittings and fixtures, or so I was told.
The site is next to Appleton View on Sinaran next to Moulmein Road. There used to be a bungalow there, I believe.
Will Appleton View go down in price because of the construction noise for the next 2 years? Rentals at Appleton will surely go down, thus could this be an opportunity to get Appleton on the cheap? I wish.Originally Posted by orange
Newbie
At $1,100, it seems high for this project as I don't see any other facilities apart from the swimming pool.
Hi surfers, the marketing agent is Huttons. After enquiring, I was told by some Huttons agents that the launch price is $1,100 to $1,200 psf while other agents also from Huttons told me that prices start from $1,200 psf to $1,300 psf. I was also told that there will not be a showflat and prospective buyers have been putting down blank cheques.
The site is next to Appleton View on Sinaran next to Moulmein Road. There used to be a bungalow there, I believe.
Is this typical of Novelty projects? Price seems to be slightly higher? Then again their finishing does seem to be rather nice...At $1,100, it seems high for this project as I don't see any other facilities apart from the swimming pool.
Typical? Yes. Very typical of Novelty. Small, expensive projects with high quality fittings.
But the formula works. They always sell out.
Novelis @ Novena
Location: Sinaran Drive (D 11)
Total no. of units: 24 (13 storeys)
Tenure: Freehold
Site Area: sqft
Expected TOP: Dec 2011
Units Types:
1+1 BR ~ 527 sqft
2 BR ~ 807 sqft
3 BR penthouse ~ 1216 sqft
2 BR penthouse ~ 839 sqft
Price: expected $1200 psf
Forget about buying this! A bulk buyer just bought the entire block, rumoured to be about $1400 psf to $1500 psf.
Who is the crazy bulk buyer?? Should be a speculator that profited from thier recent transaction. $1500 for novena ?? No way!!
The proper Novena area, which is the area on the Novena Square and Square2 side of the junction, has always been about half the price of Orchard. So $1500 psf currently is just about right.
F01 N54 Sheer Driving Pleasure
Foreigners back in private home market
Foreign buyers are streaming back into the private homes market in growing numbers, especially those from China
Joyce Teo
The Straits Times
Thursday, 5 November 2009
New research from property consultancy Savills Singapore shows foreigners accounted for 22.7% of private home sales in the third quarter. -- Photo: Desmond Foo, ST
Foreign buyers are streaming back into the private homes market in growing numbers, especially those from China.
New research from property consultancy Savills Singapore shows foreigners accounted for 22.7% of private home sales in the third quarter – above the 19.7% average since the start of 2000.
Buyers from China have dislodged those from India for the No. 3 spot in the rankings this year with a contribution of nearly 15% of total foreign purchases. This puts China just behind Indonesia in the second spot and Malaysia at No. 1.
In the past two years, India had been in third spot, but it has slipped to fourth.
Last year, buyers from China had moved up to the No. 4 spot, dislodging buyers from Britain.
Buyers from Myanmar featured more strongly, coming in at No. 8. They did not make it to the top 10 last year, and were 10th in 2007.
In the July to September period, foreign buyers – including permanent residents – lodged 2,448 private home caveats, a key step to buying a home.
This is up from 1,807 caveats in the second quarter and just 498 in the first, according to data compiled by Savills.
In all, permanent residents bought 1,389 homes in the third quarter.
DTZ said its preliminary data for the third quarter showed that foreigners accounted for about 25% of total sales, compared with about 33% during the boom of 2007.
The most popular project sought by foreigners was Sophia Residence, a project launched in July. Then came Caribbean at Keppel Bay, Ascentia Sky, One Devonshire and Viva.
Permanent residents preferred Melville Park, a 99-year leasehold condominium in Simei, the recently launched Trevista, followed by Caribbean at Keppel Bay.
About 54% of the purchases by China buyers were for resale homes, said DTZ head of South-east Asia research Chua Chor Hoon.
Like Malaysian buyers, buyers from China tend to prefer homes priced between $500,000 and $1 million.
One-fifth of them bought homes costing $1.5 million to as much as $5 million.
Indonesians, however, tended to go for higher priced projects, particularly those priced $1.5 million to $5 million.
They like properties located at Novena, River Valley and the Singapore River.
They had been the biggest group of foreign buyers, taking first place from 2004 to 2007, only to lose the spot to Malaysia during the recent economic crisis, said Ms Christine Sun, Savills Singapore’s senior research & consultancy manager.
The latest figures featured a substantial rise in the number of foreign transactions for higher-priced properties.
A total of 86 properties priced above $5 million were sold in the quarter, up from 27 in the second and a mere six in the first.
Also, there was a 60% rise in deals for projects costing between $1.5 million and $5 million. Demand from foreigners for mass market homes was little changed from the second quarter.
Savills said recent data showed that foreigners who are not permanent residents tend to buy more pricey projects.
This group was also more likely to buy homes in prime districts than permanent residents, said Ms Sun. ‘We are hearing that more of these super-rich mainland Chinese buyers have come in recent weeks to buy prime properties like the bungalows in Sentosa Cove.’
But the big influx of foreigners to the luxury market in the 2006-2007 boom has not quite returned, consultants said.
Still, support from regional buyers could rise further. Jones Lang LaSalle’s head of residential, Ms Jacqueline Wong, said the firm has had rising interest from new potential buyers from India, China and Russia in the past four months.
‘We are one of the places they are considering. They see Singapore as a safe haven,’ said Ms Wong.
A senior private banker at a foreign bank said: ‘We are seeing some clients consider buying a Singapore property as one of a string of homes they have around the world. Luxury homes have come down 30% from the peak, so they are better value now.’
DTZ’s Ms Chua said foreign buyers see the growing attraction of Singapore as a global city and expect prices to keep rising as the economy strengthens.
‘Prices of prime and luxurious units have not reached 2007 levels and there is still the potential of capital appreciation depending on the rate of economic recovery,’ she said.
F01 N54 Sheer Driving Pleasure
The quiet 24 (units) at Sinaran?
Novelis
Address ........................ psf .............. Area ........ Price ......... Contract Date
75 Sinaran Drive #07-01 .... $1,498 psf .... 527 sqft .... $790,000 .... 11 Nov 09
东方
OMG!
Address Tenure PSF Area Sqft Price Contract Date
75 Sinaran Drive #12-01 Freehold $1991psf 527 $1050k 25 Mar 10
75 Sinaran Drive #07-01 Freehold $1498 527 $790k 11 Nov 09
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