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Thread: Parc Botannia at Fernvale

  1. #61
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    Quote Originally Posted by bargain hunter View Post
    yah. they will likely price it similarly at 1280psf if they are kind enough. haha. final 2 mass market projects after which there is no more.
    There are quite a few "mass market" sites in the reserve list yet to be triggered like:
    Yishun ave 9 site beside symphony suites
    Canberra drive site beside Canberra mrt
    another triangular west coast vale site beside AYE

    The land sale for next month in Dec will be interesting. Featuring a big commercial cum residential site right on top of buangkok mrt and a site beside HillV2 in hillview.


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    Quote Originally Posted by azeoprop View Post
    There are quite a few "mass market" sites in the reserve list yet to be triggered like:
    Yishun ave 9 site beside symphony suites
    Canberra drive site beside Canberra mrt
    another triangular west coast vale site beside AYE

    The land sale for next month in Dec will be interesting. Featuring a big commercial cum residential site right on top of buangkok mrt and a site beside HillV2 in hillview.

    yes, indeed. problem is these condo units won't be up for sale till 2019. a strong bid for the buangkok site will simply accelerate sales at Parc Botannia.

    i am also puzzled why those mass market sites on the reserve list has not been triggered. perhaps they are not near enough to the mrt?

  3. #63
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    230 caveats lodged for Parc Botannia. 10 out of 21 five bedders were sold at 1.616m to 1.898m!

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    Some 230 units of Parc Botannia sold at launch

    The 735-unit project in Sengkang saw average selling price of $1,270 psf

    NOV 13, 2017

    CAI HAOXIANG


    SINGAPOREANS thronging the weekend launch of Parc Botannia snapped up some 230 units of the Sengkang 99-year leasehold condominium over the weekend. The average selling price was S$1,270 per square foot.

    Lee Sze Hao, chief executive officer of Sing Holdings, told The Business Times that the initial plan was to release 250 of the 735 units in the development for sale.

    But better-than-expected demand led to about 50 more units being released, he said. Buyers were mostly locals.

    "We were cautious with the quantum, and had made it such that people could afford to buy."

    Parc Botannia is targeted to be completed by end-2021.

    It will be built by a 70:30 joint venture between Sing Holdings and Wee Hur. They had clinched the site in a state tender in September last year, with a bid of S$287.1 million, or about S$517 per square foot per plot ratio (psf ppr).

    The project offers a range of one to five-bedroom apartments with sizes spanning 431 sq ft to 1,679 sq ft. It is located next to the Thanggam LRT station, a few stops away from the Sengkang MRT station. The food street of Jalan Kayu is nearby, along with Seletar Mall.

    Mr Lee said that the most popular units were one-bedroom, two-bedroom and four-bedroom units.

    More than half of the 193 one-bedders in the entire development have been sold. They started from S$548,000.

    He said he was pleasantly surprised at the performance of the four-bedroom units, which started from S$1.3 million and ranged from 1,130 to 1,507 sq ft.

    About half of the 63 four-bedroom units in the entire development have been sold.

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    253 units sold at a median price of 1287psf in Nov.

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    Quote Originally Posted by bargain hunter View Post
    253 units sold at a median price of 1287psf in Nov.
    That's about 35% sold. Not bad considering it the highest launch psf in sengkang. Surpassing the luxurie and la fiesta pricing during their launch last time.

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    Quote Originally Posted by azeoprop View Post
    That's about 35% sold. Not bad considering it the highest launch psf in sengkang. Surpassing the luxurie and la fiesta pricing during their launch last time.
    again that is due to limited lower psf units all around singapore which is running out fast.

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    7 units sold last sun and 33 sold since 1st Jan. developers have raised prices by about 2% after realising that they r still the cheapest in the market lol.

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    Quote Originally Posted by bargain hunter View Post
    7 units sold last sun and 33 sold since 1st Jan. developers have raised prices by about 2% after realising that they r still the cheapest in the market lol.
    We will see how twin views in west coast and the tapestry in tampines price their launch next month. Should be using Parc botannia as a guide for their pricing.

    Currently the lowest psf new condo is Symphony suites at an average of 1034psf.

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    Quote Originally Posted by azeoprop View Post
    We will see how twin views in west coast and the tapestry in tampines price their launch next month. Should be using Parc botannia as a guide for their pricing.

    Currently the lowest psf new condo is Symphony suites at an average of 1034psf.
    yes, but that was launched before 2017? also, it started moving very quickly since Parc Botannia's launch and is almost all sold out. lol.

    https://www.edgeprop.sg/property-new...roject-90-sold

    i think the guide price for tapestry in briefing to agents is average price of low 13xxpsf. that explains why PB raised its ASP from $1270psf by 2% to still < $1300psf.

    i also saw unofficial guidance for twin views as ASP to fall between 1300 to 1400psf.

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    And don't forget Luxurie and La Fiesta location is much better. Parc Botannia is at one of the worst location within Sengkang.



    Quote Originally Posted by azeoprop View Post
    That's about 35% sold. Not bad considering it the highest launch psf in sengkang. Surpassing the luxurie and la fiesta pricing during their launch last time.

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    Quote Originally Posted by bargain hunter View Post
    yes, but that was launched before 2017? also, it started moving very quickly since Parc Botannia's launch and is almost all sold out. lol.

    https://www.edgeprop.sg/property-new...roject-90-sold

    i think the guide price for tapestry in briefing to agents is average price of low 13xxpsf. that explains why PB raised its ASP from $1270psf by 2% to still < $1300psf.

    i also saw unofficial guidance for twin views as ASP to fall between 1300 to 1400psf.
    1300psf for mass market condo?!

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    Quote Originally Posted by azeoprop View Post
    1300psf for mass market condo?!
    sorry but that's exactly the case now. there is no more cheaper land. oxley is eager to launch rio casa but i think in order not to jeopardise serangoon ville and base on the winning bid for GLS serangoon garden plot, can also expect them to sell at 14xxpsf.

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    Now 1300psf. Nearing to TOP, will be 1450psf. Subsale will be 1600psf? Insane.



    Quote Originally Posted by azeoprop View Post
    1300psf for mass market condo?!

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    Quote Originally Posted by thomastansb View Post
    Now 1300psf. Nearing to TOP, will be 1450psf. Subsale will be 1600psf? Insane.
    Sounds like more cooling measures could be coming.

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    Ok now the latest land bid for west coast vale site is 800psf ppr and the sembawang nee soon camp site is 681psf ppr. Unless they build attap houses prices for ocr will runaway. 😵

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    Quote Originally Posted by azeoprop View Post
    Ok now the latest land bid for west coast vale site is 800psf ppr and the sembawang nee soon camp site is 681psf ppr. Unless they build attap houses prices for ocr will runaway. ��
    springside plot at 681psf can now claim to be the cheapest plot of 2019 (assuming Parc Botannia, Twin View and Tapestry sells out) hehehe. it needs to be able to sell at Parc Botannia's price just to be able to make a little.

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    Quote Originally Posted by bargain hunter View Post
    sorry but that's exactly the case now. there is no more cheaper land. oxley is eager to launch rio casa but i think in order not to jeopardise serangoon ville and base on the winning bid for GLS serangoon garden plot, can also expect them to sell at 14xxpsf.
    Evergreen park next to rio casa only $700psf, Rio vista only $700 to $800psf... even 3yrs old condo parc vera is $950psf to $1000psf. Do u think resale condo value abit too low?

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    Quote Originally Posted by star View Post
    Evergreen park next to rio casa only $700psf, Rio vista only $700 to $800psf... even 3yrs old condo parc vera is $950psf to $1000psf. Do u think resale condo value abit too low?
    i totally agree and i've discussed with friends about this phenomenon islandwide. there aren't many conclusions but our guesses are as had been discussed in another thread (i'm not sure which one, maybe bro kelonguni remembers):

    1) People want brand new for one reason or another e.g. THEY SIMPLY LIKE IT NEW LIKE NO ONE STAYED IN BEFORE. others like no need to headache reno + the cost of reno. since all r 99, the lease is longer for the new condo.

    2) Some may only have enough cash+cpf to pay the initial 20%. Its helpful that they continue earning and building up their savings while the new project is being constructed. The quantum difference is also not so great. E.g. a 1200 sq ft old 3 bedder condo at 800psf is $960k. A brand new 800sq ft+ 3 bedder at 1300psf+ is not > 1.1m. minus off the renovation cost for old condo, buyers may feel that its more worth it to buy the new but smaller condo (nevermind the psf). Even for investment, it may be easier to rent out the new and smaller condo than the old but bigger condo and at possibly higher rent too.

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    The shock therapy will come pretty soon. A new project can also help tide over temporary high vacancy periods (less headache) and may be easier to finance, with a more efficiently built layout (some too excessively efficient like washing machine under induction hood and hob). But modern lifestyles with a high dependency on micro-gadgets, flatscreen TVs, people eating out or using external laundry, these may be important (to some) but are not critical issues.

    That being said, resales are indeed seriously underpriced and poised for a jawdropping breakout once the new sales are released in the second quarter.

    Quote Originally Posted by bargain hunter View Post
    i totally agree and i've discussed with friends about this phenomenon islandwide. there aren't many conclusions but our guesses are as had been discussed in another thread (i'm not sure which one, maybe bro kelonguni remembers):

    1) People want brand new for one reason or another e.g. THEY SIMPLY LIKE IT NEW LIKE NO ONE STAYED IN BEFORE. others like no need to headache reno + the cost of reno. since all r 99, the lease is longer for the new condo.

    2) Some may only have enough cash+cpf to pay the initial 20%. Its helpful that they continue earning and building up their savings while the new project is being constructed. The quantum difference is also not so great. E.g. a 1200 sq ft old 3 bedder condo at 800psf is $960k. A brand new 800sq ft+ 3 bedder at 1300psf+ is not > 1.1m. minus off the renovation cost for old condo, buyers may feel that its more worth it to buy the new but smaller condo (nevermind the psf). Even for investment, it may be easier to rent out the new and smaller condo than the old but bigger condo and at possibly higher rent too.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  21. #81
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    What? You never rent out brand new condo unit before?
    Brand new condo unit always the most difficult to rent out because of so many competition (all the landlords also want to seek tenants at the same time)!
    Even if can rent out also need to suffer huge rental $ cut to entice the tenant to sign on with you (and not with your neighbours)!

    Quote Originally Posted by Kelonguni View Post
    The shock therapy will come pretty soon. A new project can also help tide over temporary high vacancy periods (less headache) and may be easier to finance, with a more efficiently built layout (some too excessively efficient like washing machine under induction hood and hob). But modern lifestyles with a high dependency on micro-gadgets, flatscreen TVs, people eating out or using external laundry, these may be important (to some) but are not critical issues.

    That being said, resales are indeed seriously underpriced and poised for a jawdropping breakout once the new sales are released in the second quarter.

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    Quote Originally Posted by Kelonguni View Post
    The shock therapy will come pretty soon. A new project can also help tide over temporary high vacancy periods (less headache) and may be easier to finance, with a more efficiently built layout (some too excessively efficient like washing machine under induction hood and hob). But modern lifestyles with a high dependency on micro-gadgets, flatscreen TVs, people eating out or using external laundry, these may be important (to some) but are not critical issues.

    That being said, resales are indeed seriously underpriced and poised for a jawdropping breakout once the new sales are released in the second quarter.
    speaking of vacancy. New HDB rule today for 4room flats and above to cap the max occupants at 6 and no longer 9! will start a new thread on this.

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    Quote Originally Posted by teddybear View Post
    What? You never rent out brand new condo unit before?
    Brand new condo unit always the most difficult to rent out because of so many competition (all the landlords also want to seek tenants at the same time)!
    Even if can rent out also need to suffer huge rental $ cut to entice the tenant to sign on with you (and not with your neighbours)!
    I mean building in progress how to rent out?

    Anyway, my new units are always amongst the first batch to be rented out. Even rental gap does not exceed 1 week.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Ok, in that case you must have been asking and accepting almost lowest rental $ compared to all your neighbors' asking! (since there will be so many wanting to rent out at the same time as well!)
    Why so desperate then?

    Quote Originally Posted by Kelonguni View Post
    I mean building in progress how to rent out?

    Anyway, my new units are always amongst the first batch to be rented out. Even rental gap does not exceed 1 week.

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    Not true. Never accept below market rates.

    If you have a good unit chosen, no need to be scared about competition in the same development.

    Quote Originally Posted by teddybear View Post
    Ok, in that case you must have been asking and accepting almost lowest rental $ compared to all your neighbors' asking! (since there will be so many wanting to rent out at the same time as well!)
    Why so desperate then?
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    6 more units sold last week after the 2% price increase bringing the total sold to 303 units.

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    Quote Originally Posted by bargain hunter View Post
    6 more units sold last week after the 2% price increase bringing the total sold to 303 units.
    Seems to be on track to be sold out by end of 2018.

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    Quote Originally Posted by azeoprop View Post
    Seems to be on track to be sold out by end of 2018.
    this project being Sing Holdings' only landbank and they seem disciplined and avoided bidding for anything at all recently, i think they are happy to sell slowly. i haven't seen them advertise on newspaper at all since the launch lol. then when others launch at higher prices they can simply increase their prices. i don't see any new projects intending to launch/re-launch at < 1300psf.

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    Quote Originally Posted by bargain hunter View Post
    this project being Sing Holdings' only landbank and they seem disciplined and avoided bidding for anything at all recently, i think they are happy to sell slowly. i haven't seen them advertise on newspaper at all since the launch lol. then when others launch at higher prices they can simply increase their prices. i don't see any new projects intending to launch/re-launch at < 1300psf.
    Went through the ura data for units sold in Dec 2017. The top 3 cheapest median psf projects sold are:
    1) Symphony Suites 1027psf 69 units unsold
    2) The Alps residences 1124psf 46 units unsold
    3) Parc Riviera 1223psf 23 units unsold

    Once these sold out parc botannia will become the cheapest liao.

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    Quote Originally Posted by azeoprop View Post
    Went through the ura data for units sold in Dec 2017. The top 3 cheapest median psf projects sold are:
    1) Symphony Suites 1027psf 69 units unsold
    2) The Alps residences 1124psf 46 units unsold
    3) Parc Riviera 1223psf 23 units unsold

    Once these sold out parc botannia will become the cheapest liao.
    yah lor. and those projects were launched in 2016. PB can rightly say they are the cheapest launch in 2017 and 2018 hee.

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