New Project Launch by Developer: The Orange Grove

New Project Launch by Developer: The Orange Grove

 

Developer: Ho Bee Group

 

Address: Orange Grove Road

 

District: 10

 

Tenure: Freehold

 

Type of Development: 1 block of 12-storey with Attic residential units with a basement car park, swimming pool and communal facilities

 

TOP Expected: 1st May 2010

 

Total Units: 72

 

Unit Mix: 3bedroom (2,153 – 2,777sqft), 4bedroom (2,691 – 3,488sqft), Penthouses (3,789 – 5,490sqft)

 

Facilities:

Swimming pool;

Clubhouse with gym & steam room ;

 

Project Description: The Orange Grove, a home that stands the test of time in every way. Located within the prestigious enclave of Orange Grove Road, The Orange Grove has an address that commands only the best, and stands out as a beacon of luxury and allure.

 

The Orange Grove is designed to take full advantage of its natural surroundings. From this unrivalled vantage point, savour spectacular views of both the city skyline as well as the neighbouring lush greenery.

 

With just 72 apartments, enjoy an uncommon exclusivity at The Orange Grove. Take your pick from a collection of 3 and 4-bedroom apartments as well as uber-luxurious penthouses, all designed to meet your demanding tastes.

 

A glittering lounge pool beckons as you arrive home, promising a moment of tranquility before more serious action at the lap pool. The clubhouse, a striking glass box overlooking the pool, houses the gymnasium as well. The family is not forgotten; a children’s pool, jacuzzi pool, BBQ pits and a pool deck for private functions, lavishly equipped for your every need!

 

At The Orange Grove, you are in a position to make the most of life. Just a 1-minute drive away is Orchard Road, Singapore’s premier shopping, dining and entertainment belt, and the epicentre of all that is hip and happening. Constantly reinventing itself, this retail therapy heaven promises to excite even the most seasoned of shoppers.

 

The Orange Grove is also in close proximity to prestigious schools like Anglo Chinese Primary School, Singapore Chinese Girls’ School, Raffles Girls’ Secondary School and St Joseph’s Institution.

  

Please contact me if you need further details on the above-mentioned projects or any other projects’ details. I would be more than happy to be of assistance.

 

 

 

Prices of some new properties coming down

Prices of some new properties coming down 

Move may signal end of months-long stand-off between buyers and sellers

By Fiona Chan, Property Reporter 

 

GOOD news for homebuyers: The prices of some new developments are finally starting to come down.

At least two new projects have been tagged with prices below what they were expected to fetch just months ago.

 

This may be because developers are faced with no sign of improvement in the cooling property market, consultants say. They may be choosing to move units by making their projects more affordable rather than continuing to wait out the gloomy sentiment.

 

One example is Dakota Residences in Dakota Crescent, a 99-year leasehold project by Ho Bee Investment and NTUC Choice Homes.

 

Sales of its 348 units will start next Saturday at an average of about $950 per sq ft (psf) – below the $1,000 psf to $1,100 psf that Ho Bee had previously targeted.

 

This means a 1,300 sq ft three-bedroom unit would cost about $1.24 million, down from as much as $1.43 million previously.

 

‘After the land cost and building cost, the break-even price is actually almost $900 psf,’ said a property agent, who asked not to be named.

 

The Straits Times understands that about 120 units will be released in the first phase, and prices may go up by at least 5 per cent for the remaining units, depending on demand.

 

For now, the two- and three-bedroom units that face away from Geylang River are said to cost $950 psf to $970 psf, while the bigger four-bedroom units facing the river will go for $1,000 psf.

 

City Developments’ (CDL) Shelford Suites in Shelford Road has also started previews for its 77 units at about $1,600 psf on average.

 

Market watchers said this was lower than expected, as two units were sold in March for $1,869 psf and $1,905 psf.

 

Shelford Suites’ launch had been delayed for months as CDL waited for sentiment to improve.

 

Property consultants say the act of lowering prices may be the beginning of the end of a months-long stand-off between homebuyers and home sellers that has led to a slump in transactions.

 

Would-be buyers have proved strongly resistant to current property prices, which have jumped 36 per cent in the last five quarters, while sellers have refused to reduce their prices until now.

 

But while lowering prices may jump-start the market, a one-off reduction may not be enough to sustain sales, said Mr Colin Tan, the head of research and consultancy at Chesterton International.

 

‘Developers will have to continue to reduce prices if they want to maintain sales, as many projects are still out of the reach of owner-occupiers,’ he said.

 

Meanwhile, developers are gearing up to launch more mid-tier projects for an increasingly price-sensitive market.

 

East Bay, a 40-unit condominium at Tay Lian Teck Road off Upper East Coast Road, will be on sale in the coming weeks. Prices average $1,100 psf, starting at about $600,000.

 

Also in the east, Ivory at Ceylon Road has sold about five of its 28 units. Prices start at $558,000 for a 640 sq ft two-bedroom apartment, averaging $800 psf.

 

At 353 Pasir Panjang Road, a 19-unit boutique project will be completed soon, though sales have just started. A handful of units have been sold so far, with one-bedroom apartments going for $550,000, and three-bedroom units priced at $1.4 million to $1.5 million.

 

ONE-TIME PRICE CUT NOT ENOUGH

 

‘Developers will have to continue to reduce prices if they want to maintain sales, as many projects are still out of the reach of owner-occupiers.’

 

MR COLIN TAN, head of research and consultancy at Chesterton International, who thinks one-off price reductions may not be enough to sustain sales

 

 

Shelford Suites

Sold in March for: $1,869 psf – $1,905 psf

Current price: $1,600 psf

 

Dakota Residences

Planned price: $1,000 psf – $1,100 psf

Current price: $950 psf

 

 

 

 

 

 

 

 

Source: Straits Times

Developers to unveil more modestly-priced condos

Developers to unveil more modestly-priced condos

Dakota slated for preview this month at under $1,000 psf average, lower than earlier indicated

 

(SINGAPORE) Developers are getting ready to release mass- to mid-market condos, encouraged by the response to modestly-priced developments recently.

 

City Developments Ltd (CDL) previewed Shelford Suites about a week ago at an average price believed to be around $1,550 psf, although CDL’s spokeswoman said the average price for the five-storey freehold project in the Shelford/Adam roads vicinity is in the $1,500 to $1,700 psf range.

 

The property giant is also aiming to preview by the end of this month or early July the first phase of Livia, a 724-unit condo at Pasir Ris Drive 1.

 

The 99-year leasehold condo, near Pasir Ris MRT Station, is being developed by a joint venture involving CDL, Hong Realty and Hong Leong Holdings.

 

‘The average price will be revealed closer to the preview,’ CDL’s spokeswoman said.

 

However, market expectation is that CDL will price the project attractively, at below $700 psf for the initial phase.

 

Those taken in by the charms of riverfront-living close to the city can look forward to Ho Bee’s and NTUC Choice Homes’ preview of The Dakota later this month.

 

The average price of the 99-year leasehold condo is expected to be ‘under $1,000 psf’, BT understands. This is lower than than the $1,000-1,100 psf average price expectation Ho Bee had indicated in June last year when the developers emerged as the top bidder for the plot at a state tender.

 

The 348-unit project is expected to be 20 storeys high and will front Geylang River. It will also be close to Dakota MRT Station, which opens on the Circle Line next year. The Dakota will comprise six blocks with a mix of two-, three- and four-bedroom apartments, and penthouses.

 

Over in Pasir Ris, CDL’s spokeswoman said that the company is in ‘in the final stage’ of preparing a phased soft launch of Livia. The condo is targeted at the mass market and will comprise several blocks of 15 to 16 storeys with two-, three- and four-bedroom apartments, and penthouses.

 

Elsewhere on the island, freehold projects with tiny studio units dubbed ‘shoebox apartments’ (ranging from under 400 sq ft to about 500 sq ft in size) in places like Sophia Road and Race Course Road, have been selling fairly quickly at around $1,100 to $1,400 psf in the past couple of months.

 

Over in the Botanic Gardens vicinity, UOL Group, Kheng Leong and Orix Corporation will officially launch today Nassim Park Residences condo.

 

Nearly 50 units have been sold at an average $3,000-3,200 psf since the preview began the week of Vesak Day, although this is expected to go up slightly from today.

 

 

Testing the market: CDL previewed Shelford Suites about a week ago at $1,500-$1,700 psf. The group is also aiming to preview the first phase of Livia, a condo in Pasir Ris, by month’s end or early July.

 

Source: Business Times

New Project Launch by Developer: Nassim Park Residences

New Project Launch by Developer

 

Address: 15 to 21 Nassim Road

 

Tenure: Freehold

 

Type of Development: 2 blocks of 5-storey & 2 blocks of 5-storey with Attic residential units with a basement car park, swimming pool and communal facilities

 

Unit Mix: 4 bedroom (3,175 – 7,901sqft),  Duplex penthouses (6,803 – 8,008sqft)

 

Special Features: Private Lift Lobby for all residences;

Private Lift for all penthouses, direct to front door;

Ground floor units and penthouses feature private garden and pool;

Swimming pool;

Clubhouse with gym;

Spa, yoga room, steam room;

Private function and dining room;

Concierge service at your beck and call

 

Project Description: Nestled in the heart of Singapore’s most desirable neighbourhood, comes Singapore’s most coveted address – Nassim Park Residences. The development is an unique collaboration between three internationally acclaimed creative minds: Singapore-based architect Chan Soo Khian, Japanese landscape architect Shunmyo Masuno, and French interior designer Christian Liaigre. The result in nothing less than extraordinary – the culmination of superlatives on every level designed to offer a phenomenal quality of life.

 

 

 

 

 

 

 

 

 

 

 

 

Please contact me if you need further details on the above-mentioned projects or any other projects’ details. I would be more than happy to be of assistance.