The Tembusu Kovan

[mermaid]

1 bedroom seems like a better buy.

1 bedroom is around 1650 psf.

hmmm ... the 1 bedder de $ can fight wif J gateway!


Published August 14, 2013

More than 200 units sold at Tembusu: sources

Strong showing may help bring back confidence to market post-TDSR


SALES at The Tembusu, Wing Tai's condo project in the Kovan area, are said to have crossed 200 units by yesterday evening. The average price for the 337-unit freehold condo is understood to be in the $1,400-1,500 psf range.

Sales started yesterday although the project's showflat first opened two weekends ago. Entry to the showflat to VVIPs and those who had pre-registered earlier was by balloting. Huttons is marketing The Tembusu. This is believed to be the first residential project to attract a good reception after the Total Debt Servicing Ratio (TDSR) framework took effect on June 29.

Analysts estimate developers probably sold less than 500 private homes last month.

Wing Tai could not confirm Tembusu's sales figures as it was still tallying sales, but its general manager for property, Len Siew Lian, said: "The response was encouraging; we believe it is due to the comfortable sizing of the freehold apartments in the established Kovan area. Most importantly, home buyers appreciate the quality design and finishes."

[mcmlxxvi]

Growth story aside, nobody in right mind will compare Kovan with Jurong.

[mermaid]

Growth story aside, nobody in right mind will compare Kovan with Jurong.

I beg to differ. precisely since the pricing is similar, buyers has the chance to evaluate which proj is more worthwhile.

but u r rite to conclude tat Im not in the rite mind.

[Eh]

I beg to differ. precisely since the pricing is similar, buyers has the chance to evaluate which proj is more worthwhile.

but u r rite to conclude tat Im not in the rite mind.

I have to agree with mm king here. Comparing Jurong with kovan is a joke. Buyers who do such comparison are most likely really not familiar with kovan or singapore

[greenhorn]

From today's Business Times:-

SALES at The Tembusu, Wing Tai's condo project in the Kovan area, are said to have crossed 200 units by yesterday evening. The average price for the 337-unit freehold condo is understood to be in the $1,400-1,500 psf range.
Sales started yesterday although the project's showflat first opened two weekends ago. Entry to the showflat to VVIPs and those who had pre-registered earlier was by balloting. Huttons is marketing The Tembusu. This is believed to be the first residential project to attract a good reception after the Total Debt Servicing Ratio (TDSR) framework took effect on June 29.
Analysts estimate developers probably sold less than 500 private homes last month.

Wing Tai could not confirm Tembusu's sales figures as it was still tallying sales, but its general manager for property, Len Siew Lian, said: "The response was encouraging; we believe it is due to the comfortable sizing of the freehold apartments in the established Kovan area. Most importantly, home buyers appreciate the quality design and finishes."

Knight Frank's head of project marketing, Eugene Lim Ying Jie, said: "This shows there are still buyers out there in the market. This news will help to bring back confidence to the market."

CBRE executive director Joseph Tan also said the initial sales result shows there is still liquidity in the market and healthy demand for competitively priced projects in good locations. "The Tembusu is one of the few larger freehold condo projects in that area. The location is still within walking distance of Kovan MRT. And the showflat is located in a strategic spot opposite the MRT Station."

Mr Tan also described the pricing, which he believed to be $1,500 psf on average, as reasonable for a freehold project relatively close to the city - compared with J Gateway, a 99-year leasehold condo near Jurong East MRT Station that sold like hotcakes at $1,480 psf on average on June 28.
The Tembusu will rise on Wing Tai's former headquarters about 400 metres from Kovan MRT Station. Rising to 18 storeys, the project will have one to four-bedroom apartments, dual-key units and penthouses in five blocks. Unit sizes range from 474 sq ft to 3,886 sq ft. The project features lush greenery throughout and will also have swimming pools and a tennis court.

Meanwhile, sales continue to be slow at Vue 8 Residence, a 99-year leasehold condo near Pasir Ris Beach. Just 70-plus units are thought to have moved, since the project was released last month. The average price is said to be a tad below $1,000 psf.

The Quinn, a 139-unit freehold condo along Bartley Road, also has seen tepid sales. Fewer than 20 units have found buyers since the project's release a couple of weeks ago. The five-storey development's average price is close to $1,600 psf. Absolute prices start from around $850,000 for a one-bedder.

[mermaid]

I have to agree with mm king here. Comparing Jurong with kovan is a joke. Buyers who do such comparison are most likely really not familiar with kovan or singapore

put it tis way. Im a potential buyer wif budget $800k-$900k for a 1 bedder.
I hv shortlisted 2 proj which meet the $ criteria, J gateway n tembusu. kindly advise me how do I make a decision if I dun compare the 2?

though I agree wif u guys tat kovan vs Jurong is not an apple to apple comparison, but wat a potential buyer is concerned with here is with $xx tat he has, issit more worthwhile to buy an apple or an orange?

[clemdale24]

put it tis way. Im a potential buyer wif budget $800k-$900k for a 1 bedder.
I hv shortlisted 2 proj which meet the $ criteria, J gateway n tembusu. kindly advise me how do I make a decision if I dun compare the 2?

though I agree wif u guys tat kovan vs Jurong is not an apple to apple comparison, but wat a potential buyer is concerned with here is with $xx tat he has, issit more worthwhile to buy an apple or an orange?

why is everyone praising the kovan area? is it really that good? for me, ive never really found it quite so attractive. it's considered OCR and too far from the city. yes mrt, yes landed property area, but i would think that D15 beats kovan anytime.

besides, the tembusu isnt that close to mrt is it?

[mermaid]

why is everyone praising the kovan area? is it really that good? for me, ive never really found it quite so attractive. it's considered OCR and too far from the city. yes mrt, yes landed property area, but i would think that D15 beats kovan anytime.

besides, the tembusu isnt that close to mrt is it?

wah! u quoted me as though I praised wor!

Im merely evaluating the $ across diff proj to ascertain which is a better buy.
u r rite, tembusu cannot be considered as close to mrt but considering the fact tat it is fh, it is not tat bad either.

hmm ... D15 de price oso quite attractive. my bro bought a 2 bedder FH at abt $1500psf early tis yr.

[astroboy8681]

put it tis way. Im a potential buyer wif budget $800k-$900k for a 1 bedder.
I hv shortlisted 2 proj which meet the $ criteria, J gateway n tembusu. kindly advise me how do I make a decision if I dun compare the 2?

though I agree wif u guys tat kovan vs Jurong is not an apple to apple comparison, but wat a potential buyer is concerned with here is with $xx tat he has, issit more worthwhile to buy an apple or an orange?

800k-900k for 1-bedroom is a very healthy budget. in fact you have so many options D12, D13, D14, D15, D19 etc etc...

don't restrict yourself, look beyond new launch...

[mermaid]

800k-900k for 1-bedroom is a very healthy budget. in fact you have so many options D12, D13, D14, D15, D19 etc etc...

don't restrict yourself, look beyond new launch...

Im not buying la, juz bought a 1 bedder a couple of mths back at $6xx
mayb old liao, still cannot digest a 1 bedder at $800k-900k as a healthy budget for OCR

[aunhyunty]

why is everyone praising the kovan area? is it really that good? for me, ive never really found it quite so attractive. it's considered OCR and too far from the city. yes mrt, yes landed property area, but i would think that D15 beats kovan anytime.

besides, the tembusu isnt that close to mrt is it?

I will choose d19 over d15. Maybe it's just me

[mermaid]

I will choose d19 over d15. Maybe it's just me

D19 is so vague leh ... extreme Punggol is D19, Serangoon is oso D19.

[aunhyunty]

D19 is so vague leh ... extreme Punggol is D19, Serangoon is oso D19.

Ok I mean D19 from serangoon area and furthest up to kovan. Not including the further hougang sengkang punggol area.

[azeoprop]

Compressed Marble from Living to Dining to Kitchen, Timber Flooring in Bedrooms. Glass Door to Bedroom for Type A (1 bedroom) and to Kitchen (except 1 bedroom)

All given fridges. 1,2 & 3DK given Washer cum Dryer

Also will have Home Automation System to control the lighting and aircon at Living / Dining and Master Bedroom

Showflat opens from 12pm to 3pm Wed to Fri for those who registered for Preview but not able to make it yesterday or cant decide yesterday for booking only. No viewing of the showflat

What is the price of the cheapest 1 bedder for now?

[clemdale24]

Im not buying la, juz bought a 1 bedder a couple of mths back at $6xx
mayb old liao, still cannot digest a 1 bedder at $800k-900k as a healthy budget for OCR

haha sorry mermaid didnt mean to quote u la

anyway which property did u invest in?

i guess everyone is entitled to their own opinions. D15 is also a big area, covering meyer/ amber/ tanjong rhu/ joo chiat/ siglap/ marine parade. different areas have their own good and bad points. it would be the same for D19 of course - punggol and serangoon are worlds apart.

[greenhorn]

I think the 1 bedders are good buys. The 1 bedder unit layout is spacious and better than most 1 bedders i have seen in new condos. From site plan, think those 1 BR stacks facing south & overlooking the landed area will enjoy wide unblock views. Got a feeling the 1 bedders will sell out soon following the 2 bedders.

[aunhyunty]

Comparing this with promenade@pelikat which is more value for money? Both freehold, other aspect of course tembusu win hands down. But pricing a huge diff.. promenade is also Walkable to mrt tho slightly further, but got sheltered walkway.

[azeoprop]

Ok I mean D19 from serangoon area and furthest up to kovan. Not including the further hougang sengkang punggol area.

Hougang 5th milestone to 6th milestone.

[mermaid]

haha sorry mermaid didnt mean to quote u la

anyway which property did u invest in?

i guess everyone is entitled to their own opinions. D15 is also a big area, covering meyer/ amber/ tanjong rhu/ joo chiat/ siglap/ marine parade. different areas have their own good and bad points. it would be the same for D19 of course - punggol and serangoon are worlds apart.

D13 bartley ridge

juz a few mths ago, I was saying wah, sibeh exp as compared to those tat my siblings bought. after J gateway was launched I was exclaiming wah! sibeh cheap!

[Eh]

put it tis way. Im a potential buyer wif budget $800k-$900k for a 1 bedder.
I hv shortlisted 2 proj which meet the $ criteria, J gateway n tembusu. kindly advise me how do I make a decision if I dun compare the 2?

though I agree wif u guys tat kovan vs Jurong is not an apple to apple comparison, but wat a potential buyer is concerned with here is with $xx tat he has, issit more worthwhile to buy an apple or an orange?

Buyer got all types. As a buyer, are you buying for own stay or investment? If for investment is it long term or short term? Mainly capital gain or mainly rental gain? And when renting out what kind of tenants are you looking for?

Let me put it this way too, I have a 2 bedder at sea avenue. So far my tenants have always been white collar expats couple who are looking for different kinds of lifestyle. I didn't fix any specific requirements. It's just how it is. And If you are renting out a unit in Jurong, you can get ANY types of tenants.

Jurong no matter how much hype, will always be Jurong. It can never be compare to other districts.

If you want me to choose, not comparing pricing between projects but more on affordability and potential rental gains, I will buy Jurong too.

[tahoo]

Wonder what sort of buyers we have?
Aren't they affected by the ABSD or TDSR?

With all these, it totally take away the possible capital gains.

[Regulators]

These could be the first time buyers cum noise makers who complained prices high n still buy high .

[Eh]

Wonder what sort of buyers we have?
Aren't they affected by the ABSD or TDSR?

With all these, it totally take away the possible capital gains.

TDSR really affect a lot of buyers. I heard instead of up to 3 days now it takes up to 10 days to assess your loan. And I don't understand why rental income cannot be taken into consideration for loan approval.

[tahoo]

TDSR really affect a lot of buyers. I heard instead of up to 3 days now it takes up to 10 days to assess your loan. And I don't understand why rental income cannot be taken into consideration for loan approval.

Indeed, I was trying to do my re-financing. With the new procedure, we need to provide all documentation proof of all loans / credit services that we have. (from car hire purchase agreement to ALL credit cards bills)
It is a long and tiring process for me to dig all the documents for the loan officer. Almost wanted to give up.

[henryhk]

Indeed, I was trying to do my re-financing. With the new procedure, we need to provide all documentation proof of all loans / credit services that we have. (from car hire purchase agreement to ALL credit cards bills)
It is a long and tiring process for me to dig all the documents for the loan officer. Almost wanted to give up.

How about repricing with the same bank, need all these documents?

[thomastansb]

I will never buy any of these 2.

1) Too far from city
2) Too expensive

Kovan will always be Kovan. So what it has landed? Sengkang also got landed. As for Jurong, it is beyond my imagination why people can fork out 1.7k psf for a OCR. Crazy.

If I have to buy with a 900k budget, I will look at something nearer to town and give me rental.

Going to TOP projects or just TOP projects such as Coralis, Shore residences or Waterbank. I believe still can get a studio below 1M and rent out at 3.5k easily. That will give me > 4% yield for at least 3 to 4 years over J Gateway or Tembusu. Or die die have to buy OCR with 900k budget, I will get Optima studio. Easily can buy one below 850k and rent out at 3.2k. Why should I take the risk of buying something that need to wait for 4 years when I can buy something at the same price but with rental? If it is cheap, still okay. But no thanks at $1700 psf.

put it tis way. Im a potential buyer wif budget $800k-$900k for a 1 bedder.
I hv shortlisted 2 proj which meet the $ criteria, J gateway n tembusu. kindly advise me how do I make a decision if I dun compare the 2?

though I agree wif u guys tat kovan vs Jurong is not an apple to apple comparison, but wat a potential buyer is concerned with here is with $xx tat he has, issit more worthwhile to buy an apple or an orange?

[ZeeWee]

What is the price of the cheapest 1 bedder for now?

$695k still

[Regulators]

Money now is always better than money later

I will never buy any of these 2.

1) Too far from city
2) Too expensive

Kovan will always be Kovan. So what it has landed? Sengkang also got landed. As for Jurong, it is beyond my imagination why people can fork out 1.7k psf for a OCR. Crazy.

If I have to buy with a 900k budget, I will look at something nearer to town and give me rental.

Going to TOP projects or just TOP projects such as Coralis, Shore residences or Waterbank. I believe still can get a studio below 1M and rent out at 3.5k easily. That will give me > 4% yield for at least 3 to 4 years over J Gateway or Tembusu. Or die die have to buy OCR with 900k budget, I will get Optima studio. Easily can buy one below 850k and rent out at 3.2k. Why should I take the risk of buying something that need to wait for 4 years when I can buy something at the same price but with rental? If it is cheap, still okay. But no thanks at $1700 psf.

[mcmlxxvi]

People prefer virgin house just like virgin wife.

Somemore this one can pick and choose the exact wife you want. Nevermind the 300psf more. Virginity is priceless anyway.

[azeoprop]

$695k still

Which stack is this? Face hdb mscp or face main road one? Thanks!