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Thread: Austville Residences (EC 540-units)

  1. #1
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    Default Austville Residences (EC 540-units)

    Nov 20, 2010
    UE's exec condo to target young couples

    Analysts upbeat about demand for upcoming Sengkang project
    By Yasmine Yahya

    UNITED Engineers (UE) is hoping to cash in on the pent-up demand for affordable housing among young couples with the unveiling of Austville Residences, a 540-unit executive condominium.

    The 99-year leasehold project is expected to be launched some time next month or in January. It is located between Sengkang East Avenue and Buangkok Drive, a three-minute walk to Kangkar LRT station and five minutes away from Ranggung LRT station.

    Prices will start from $650 per sq ft (psf), with two-bedroom units priced from $562,000.

    UE said this will be the first executive condo in Singapore to have a theme design - the developers have taken Australian nature resorts as their inspiration.

    The project will include features such as a beach-style pool, a barbecue corner and a vineyard-inspired dining pavilion. It is the third executive condo to be unveiled this year, and analysts expect it to be just as popular as the previous two, especially among young couples.

    'For the location, I think the price is reasonable. If you look at recent launches of private residential properties, take-up has been good,' said Mr Steven Tan, executive director of residential at property agency OrangeTee.

    'The market is receptive to private property prices of $800 to $900 psf. The average prices of executive condos represent a 20 per cent discount to that. Plus, since it's considered public housing, first-time buyers can get the $30,000 Central Provident Fund grant as well,' he added.

    The senior manager of Asia-Pacific research at Cushman & Wakefield, Mr Ong Kah Seng, was equally upbeat.

    'Looking at how oversubscribed Esparina Residences was, it reflects that there is strong demand for executive condos in various locations waiting to be absorbed. There is also continued relevance for executive condos to cater to the 'sandwiched class', which will help executive condos appreciate as choice dwellings.'

    Esparina Residences was one of two executive condos launched earlier this year. Situated near Buangkok MRT station, it has a median price of $761 psf. So far, 425 of its 573 units have been sold.

    The other one launched, The Canopy in Yishun, has been selling at a median price of $658 psf. Of its 406 units, 104 have been taken up.

    Executive condos are a hybrid of public and private housing. Before this year, the last one was launched in 2005. This is just one reason why they are proving to be so popular today, said Mr Ong.

    'Executive condos are popular primarily due to the long dearth of new projects and prices of private suburban condominiums which have generally reached record highs. Executive condos are hence the closest substitutes for eligible buyers who wish to enjoy a condominium living experience,' he said.

    Austville features six 18-storey towers with two- to four-bedroom units, including 30 penthouse units. Unit sizes range from 811 to 1,241 sq ft.

    UE said the expected temporary occupation permit date for Austville will be no later than 2014.

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    looks like market has soften down... now we are reading more 680psf...and less on 2000psf.....

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    dun understand why the analysts all seem so optimistic, i thought that this one will be picking up the scraps of esparina

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    It seems that like more and more 99LH condos are being launched. By mid next year, there could be a glut and I feel that quite likely every new launch now will have significant number (20%?) of units not sold over a long time. The market and psf for these 99LH condos will peak very soon...

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    This is already happening for the high end condos. (read Straits Times today - last page).

    Quote Originally Posted by hyenergix
    It seems that like more and more 99LH condos are being launched. By mid next year, there could be a glut and I feel that quite likely every new launch now will have significant number (20%?) of units not sold over a long time. The market and psf for these 99LH condos will peak very soon...

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    Quote Originally Posted by rattydrama
    looks like market has soften down... now we are reading more 680psf...and less on 2000psf.....
    How is the market soften? Looking at a EC at $680psf and at a inferior location compared to Esparina.

    Still overly bullish imo.

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    caspian, mi casa, waterfront waves and the quartz were selling 580-650psf last year. Now EC at 680psf, still bullish.

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    This EC is the 3rd EC in the row along this road. so you got your choice of a 10-yr old, 6 yr-old or a -ve 3yr old haha...

    EC for the rivervale and park green transacting ard $600 - $640 psf range. This explains the slight premium for the new offering.

    Hopefully this new development will increase the amenities ard the area. At the moment, there is none. They mention 3-min walk to Kangar LRT. I think it is 5 min. Further more, this is probably the only viable public transport option at the moment for the location....

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    Official Website with all the site and floor plans.
    http://www.austville.com.sg/

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    dun tink tis one can sell well at 680psf

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    Think that park green or the rivervale wuld be better choices.
    Quote Originally Posted by devilplate
    dun tink tis one can sell well at 680psf

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    Quote Originally Posted by 2824
    Think that park green or the rivervale wuld be better choices.
    rivervale still can walk to MRT....but facade old fashion liao lor

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    Not impressed at all by the website.
    Gonna be a very hard sell.

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    floorplan layout is terrible. the developer doesn't know what hdb upgraders want. bedrooms are so small. Prive's is so much better.

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    Wow all bedrooms other than master can only fit a single bed ! Not even trying to draw a bigger room at least on paper...so it's really going to be small..

    Sorry never really follow the EC development. Is this a trend ? Who else is doing this ?

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    common rooms can accomodate queen bed place against the wall, layout drawing is a super single. MB can make do with a king too. There's no oversize A/C ledge, underground carpark, compressed marble ok la.

    Duno got crocodile dundee to welcome visitors or not. i agree that Prive would be a better pick.

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    EC used to be same size as hdb with facilities. Now its size follows condo more than hdb.

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    Still the same size as HDB, just a realignment now since HDB don't produce 130sqm ++ exec flats anymore. So:

    2 bedroom unit = HDB 3 room flat
    3 bedroom unit = HDB 4 room flat
    3+1/ 4 bedroom unit = HDB 5 room flat


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    Went down over the weekend to take a look at this.

    Not much of a crowd on that morning (less than 10 grps viewing), ask agent for sales figure but id not want to say (does not look like there were a substantial number of units sold).

    one interesting feature to note is that of the Yabby pond, where kids can go and try their hand at Yabby fishing. Although i doubt how practical is this? Color theme is definitely like australia outback (maybe that's why the no of pple also not so many ). Pricingwise 3 bedder (1033 sq ft) starting from 740 - 760k) not cheap.

    Quota for 2nd timers already full so gotta wait for 1 mth later.

    What i don't like about it is that in the 3 bed showflat, there is only 1 white velcro dot to demarcate the end of the living room and start of balcony, making it more spaceous. Most other showflats at least do up the balcony to give you an actual feel.

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    Quote Originally Posted by 2824
    Pricingwise 3 bedder (1033 sq ft) starting from 740 - 760k) not cheap.
    how come so EX!!! i tot they say from 650psf+-??

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    650psf + maybe for the 3+study & the 4 bedder.



    Quote Originally Posted by devilplate
    how come so EX!!! i tot they say from 650psf+-??

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    Sales of Austville Residences hit by cooling measures

    http://www.channelnewsasia.com/stori...105454/1/.html

    Quite surprised that this EC is affected by the cooling measures.
    Thought the interested buyers be mainly first-timers and HDB upgraders who would be least affected.

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    Quote Originally Posted by Kengar
    Sales of Austville Residences hit by cooling measures

    http://www.channelnewsasia.com/stori...105454/1/.html

    Quite surprised that this EC is affected by the cooling measures.
    Thought the interested buyers be mainly first-timers and HDB upgraders who would be least affected.
    canopy aso poor sales b4 measures...so u noe y liao?

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    Location? Location? Location?

    Quote Originally Posted by devilplate
    canopy aso poor sales b4 measures...so u noe y liao?
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    First 100 had quite a number of freebies thrown in by developer including fridge and washer......

    Quote Originally Posted by Kengar
    Sales of Austville Residences hit by cooling measures

    http://www.channelnewsasia.com/stori...105454/1/.html

    Quite surprised that this EC is affected by the cooling measures.
    Thought the interested buyers be mainly first-timers and HDB upgraders who would be least affected.

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    Some of these people with fully paid up prefers to put their money in private property following the measures with the view of a correction. They may miss the boat if they go via the EC path.
    Quote Originally Posted by 2824
    First 100 had quite a number of freebies thrown in by developer including fridge and washer......

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    Quote Originally Posted by sleek
    Location? Location? Location?
    My view as a ex-resident of Park Green which is the EC just beside Austville.

    Personally, I think this 3rd EC project side by side may create some over-supply for pple eyeing this region to stay. you have a choice of a 10 yr, 6 yr and a (-3) yr EC project to choose.

    Price-wise, they are all pretty close. If you can wait for another 3 yrs, pls go for Austville and if you can afford the slight premium in prices.

    The location is something you have to be aware. There is literally zero amenities within 5 min walk. The walk to the LRT should be 5 min (impossible to reach in 3 min as advertised).

    Unless the govt does something quickly, things will remain status quo cos they usually heck-care private developments. For e.g. to get to the punngol park, be prepared to walk > 10 min cos there is no bridge except the one near to the Rivervale.

    The view to the Punngol Park will be the greatest highlight if you choose to buy Austville. Get a mid to high floor (> 7 flr) and you should be able to see the entire landscape of Punggol Park. It can be quite breathtaking!

    The near exit to KPE is a plus. You can get to Town in under 15 min if traffic permits.

    If I am interested party, I will wait for awhile to see if the prices will drop. No immediate hot demand for the units so can afford to wait I guess....

    Just my 2

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    location is a key factor. Canopy and Austville are not in sight of any MRT station...

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    Agent say actually walkable from Sengkang MRT or can take LRT and still walk.

    Layout wise quite efficient though 4 bedder only 1200++ sqft. Good for those with big familes

    Quote Originally Posted by terence
    location is a key factor. Canopy and Austville are not in sight of any MRT station...

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    Quote Originally Posted by 2824
    Agent say actually walkable from Sengkang MRT or can take LRT and still walk.

    Layout wise quite efficient though 4 bedder only 1200++ sqft. Good for those with big familes
    Of course walkable! maybe 20min? haha... it is more than 1.5km from seng kang MRT. Superb sales talk. The nearest mrt is actually Buangkok. I walked to Park Green in 12 -15 min. Add another 2-3 min for Austville.

    4 Bedder - 1200 sqf? sounds like quite cramp leh. My park green unit of 1200 sqf is so compressed in all aspects - living, dining and all bedrooms. Maybe it's cos Austville has no balcony and planters?

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