Sim Lian Group’s executive condominium (EC) project Wandervale in Choa Chu Kang is slated like a first domestic project for being launched this current year, with gross sales booking beginning in early Next month at an normal pricing of S$750-770 every square base (psf).
Group executive home and dealing with director with the property advancement division Kuik Sing Beng noted which the pricing can be competitive vis-a-vis other ECs within the neighbourhood and the project’s breakeven cost are about S$700 psf, ever since the group been given the 1 ) 9-hectare piece at S$361 psf every plot relation (psf ppr) in October 2014, the guy told BT.
As a public-private hybrid venture, Wandervale EC is available for e-application on Feb . 18 when ever its showflat opens pertaining to viewing. PERIOD OF TIME Realty is just about the marketing agents for the project that will have all 534 units released for sale.
Market conditions are more languid than before, as seen in the decline of e-applications in recent EC projects as prices turned toppish and buyers hold back purchase decisions amid increased market uncertainties, Mr Kuik conceded. But the group remains confident of the project even if it may take longer than before to clear all the stock.
“Even if it does not do well in the initial launch, along the way, I think we will sell off this project. We have done two EC projects before and we have seen them perform, ” he added.
“We see a softening of maybe another 2-3 per cent in EC prices from current levels, ” Mr Kuik projected. “Unfortunately, with the recent equities market selloff, the whole mood in the market is still negative. Everybody is very careful on big-ticket purchases. The home is the biggest purchase for everybody in their lifetime, so people will hold back their whole decision to order. ”
In spite of the lack of an outburst in EC demand following lift on household salary ceiling out of S$12, 000 to S$14, 000, Mister Kuik doesn’t subscribe to the lovely view that need ECs from limited entitled pool of potential buyers is largely found. “We think that market verse is still certainly not positive. We come across a lot of attraction but consumers are still positioning back anticipating prices to soften. micron
Located around Choa Chu Kang Ave 3, Wandervale is within jogging distance from MRT rail station and the shuttle bus interchange and near the highway, a popular most important school Sth View Most important School, and shopping gadgets.
Another assignment in Choa Chu Kang that may be unveiled later the 2010 season or next season is an EC project using a Qingjian Realty-led consortium, which in turn acquired the 1 . 64-ha site for Choa Chu Kang Ave 5 pertaining to S$295 psf ppr. The positioning is more than 1 ) 5 kms away from the Choa Chu Kang MRT station.
The standard price of some 380 units displayed MCL Land’s Sol Grounds EC — more than one km from Choa Chu Kang MRT rail station – was S$788 psf, based on gross sales data with URA Realis. This large 1, 327-unit project premiered last July with one-bedroom units of 495 sq ft just about every being offered for the first time in an EC project.
Stressing the priority given to livability in Sim Lian’s projects, Mr Kuik said that units in the group’s EC projects typically start from three-bedders of around 1, 000 sq ft and have minimal non-usable space. “Sim Lian’s projects are very conventional. We still hold on to the fact that we are building for a family that is going to stay there for five to eight years. So , the space planning and facilities given are very practical. ”
Another Sim Lian project to be launched around June this year is an EC project at Sengkang Anchorvale Crescent, which is probably competitively costed given the winning bet of S$280 psf ppr – one of the lowest for EC sites since 2011.
Notwithstanding issues of an oversupply of homes in the north-east region of Singapore, Mr Kuik continues to be confident from the Sengkang project given the low entry-cost. The project has an approximated breakeven cost of S$670 psf and is within walking range to the Sengkang MRT. Mr Kuik declared the group will give the cost cost savings to customers.
Elsewhere, the group offers sold slightly more than half of the 546 models at Hillion Residences, a 99-year leasehold private condominium project in Bukit Panjang since its release in 2013. It is part of an integrated project with a retail component that will link the Bukit Panjang LRT train station with the future bus interchange, as well as the forthcoming Bukit Panjang Downtown Collection 2 (DTL2) station. The residential element is likely to obtain short-term occupation enable (TOP) next year.