Comments on Seletar Springs condo

[RAUDIE]

Does anyone have comments on this condo located on Gerald Drive? It is quite inconvenient with a 5 min walk to YCK road. Do you have comments on parking, the quality of the construction, facilities, convenience, potential for appreciation, etc? We are interested in the place and hope that any of you can comment.

Many thanks!

[Propspecs]

Does anyone have comments on this condo located on Gerald Drive? It is quite inconvenient with a 5 min walk to YCK road. Do you have comments on parking, the quality of the construction, facilities, convenience, potential for appreciation, etc? We are interested in the place and hope that any of you can comment.

Many thanks!

It is a resort style condo. Regarding the potential for appreciation, as the rate of falling for sub urban condos are not great, the appreciation may not be great too. I should say if you buy it for own stay, this should be quite a good choice. About the comments on parking, quality, facilities, you should pay a visit there and have a good feel of it.

We have a few units ranging from a 2+1 980Sqft $5XX K to a 4+1 Penthse, 2066Sqft at $8XX K.

PM me if you would like to have a (non obligation) feel of the resort style ambience.

[Reporter]

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Sengkang condo land parcel sees top bid of S$200.5M
Millet Enriquez
Channel NewsAsia
Thursday, 4 February 2010, 2153 hrs

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Developers still appear hungry for land that can be used for condominium development.

A tender for a land parcel in Sengkang saw robust bidding, with the top offer coming in at over S$200 million.

Industry experts said it is a sign that appetite among developers to snap good sites is currently on a high.

The site at Sengkang West Avenue and Fernvale Link received bids from 10 developers.

Sunmaster Holdings submitted an offer of S$200.5 million, more than 2.5 times the minimum bid of S$70 million.

The price translates to S$365 psf for the 16,998.8-sqm land area launched by the Housing and Development Board (HDB) on a 99-year lease.

The next highest bid came from Tuas Hi-Tech Park, with a bid of S$177 million.

The lowest bid of S$115.6 million was by Lippo Estates.

The HDB said it will evaluate the provisional results and the tender will be awarded in the next 2 weeks.

Industry observers said the top bid was very bullish.

Ngee Ann Polytechnic real estate lecturer Nicholas Mak says the breakeven cost would be about S$730 to S$760 psf.

Colliers said the top bid reflects the optimistic sentiment of developers.

In 2009, 3 other residential sites received bids that were higher than S$200 million.