The Continuum (D15, Freehold, Hoi Hup Sunway)
The upcoming new launch at Thiam Siew Ave is The Continuum. A freehold condominium by joint ventures Hoi Hup Realty and Sunway. It is located on Katong vicinity on District 15. There are a total of 861 units of 1 bedroom to 5 bedroom layouts. It is a within 2 mrt stations, the East West line and Thomson East Coast Line. It is 5 mrt stops to MBS from Dakota Mrt and 5 mrt stops to City Hall mrt from Paya Lebar mrt station.
For buyers who are looking to buy for investment this property is next to Canadian International School.
Read more for The Continuum here
Re: The Continuum @ Thiam Siew Ave District 15
The Continuum: One condo, two freehold plots in District 15
April 21, 2023
https://i.imgur.com/4Dfql7B.jpg
When Hoi Hup and Sunway Property paid $815 million for two strips of land on either side of Thiam Siew Avenue in November 2021, many wondered what the future development would look like. Formerly, 22 pre-war bungalows and semi-detached houses sat along the quiet street. Would the future high-rise blocks be linked across Thiam Siew Avenue by a Marina Bay Sands-like SkyPark, or would the developers buy the road and amalgamate the plots to create an extensive development on a single combined plot?
None of the above. Instead, architect Kingsley Ng, director of P&T Architects, designed three blocks with 408 units on each parallel plot. The North and South plots are designed as two standalone condos with their respective entrances, basement parking and amenities such as the clubhouse, swimming pool and gym. The entrance to the North plot will be from Tanjong Katong Road and to the South, Haig Road.
An overhead bridge resembling the Henderson Waves pedestrian bridge will link the two plots. “It is going to be an iconic bridge in the Katong area that will link the two sites,” says Koon Wai Leong, director of Hoi Hup.
The facilities in the North and South plots are differentiated, from the drop-off area to the grounds designed by STX Landscape Architects. “Residents can enter the bridge from a ramp at the landscaped deck on the North plot and emerge at the clubhouse on the South plot,” says Koon. “They can enjoy the facilities on both sides.”
After all, the two sides are part of a single development, the 816-unit The Continuum, a name inspired by the word’s dictionary definition. “Continuum describes something gradually and continually changing or evolving through time,” says Koon.
The name reflects the key features of the development: The connection between the old and the new, the ground-floor landscaped gardens and the sky garden, and the North and South plots, he adds. It hints at the freehold tenure of the land too. “It can be a legacy for the home buyers’ next generation,” Koon says. The units come with flexible layouts. “This allows for slight modifications to transform the spaces for the next phase of life,” he adds. “It’s ideal for those who want to age in place.”
More at: https://www.edgeprop.sg/property-new...ts-district-15
Re: The Continuum (D15, Freehold, Hoi Hup Sunway)
Hoi Hup, Sunway launch The Continuum at prices starting from about S$2,580 psf
Apr 21, 2023
HOI Hup Realty and Sunway Developments opened previews for The Continuum on Friday (Apr 21), with indicative prices ranging from about S$2,580 per square foot (psf) to more than S$2,800 psf.
This marks the second major residential launch in District 15 in the year to date, after City Developments Ltd and MCL Land’s 638-unit Tembusu Grand. That project sold 53 per cent of units on its launch weekend in April, at an average price of S$2,465 psf.
The Continuum freehold development on Thiam Siew Avenue off Tanjong Katong Road will house 816 units in six blocks on the site acquired at a collective sale in 2021. More than 60 per cent of the units available will be two- and three-bedroomers.
One-bedroom units with a study, sized 560 square feet (sq ft), will start around S$1.45 million, or about S$2,585 psf.
Two-bedroom units, ranging from 646 sq ft to 667 sq ft, start at S$1.67 million (S$2,586 psf), while two-bedroom units with a study, sized 700 sq ft to 721 sq ft, will go from S$1.82 million (S$2,600 psf).
Three-bedroom units of 872 sq ft to 947 sq ft in size will go from S$2.3 million (S$2,637 psf), and three-bedroomers with a study, of 1,227 sq ft to 1,249 sq ft, start from S$$3.32 million (S$2,705 psf). Four-bedroom units of 1,227 sq ft to 1,292 sq ft start at about S$3.21 million (S$2,613 psf).
Three-bedroom units with a private lift, sized at 1,066 sq ft to 1,087 sq ft, are priced from S$2.76 million (S$2,588 psf); four-bedroom units with a private lift, of 1,690 sq ft in size, start at S$4.57 million (S$2,704 psf). For five-bedroomers of 1,905 sq ft with private lift, units start from S$5.35 million (S$2,808 psf).
The Continuum sits on a land area of 263,715 sq ft, with a plot ratio of 2.8. The site was sold to Hoi Hup and Sunway in November 2021 for S$815 million. This translates to S$1,488 per square foot per plot ratio (psf ppr), after an estimated development charge of about S$248 million. Taking into account a 7 per cent bonus on balconies, the land rate works out to about S$1,440 psf ppr.
The condo is situated near Paya Lebar and Dakota MRT stations.
Also coming up in the area in the second half of 2023 is SingHaiyi’s Grand Dunman, which is expected to yield 1,012 units. Estimated launch prices for the 99-year-leasehold condo range between S$2,200 and S$2,300 psf, said CBRE head of research for South-east Asia Tricia Song.
Before Tembusu Grand came to market, the last launch in the District 15 area was the 99-year-leasehold Liv @ MB in May 2022. The 298-unit project being built by Bukit Sembawang Estates has sold 256 units or 86 per cent of its total at an average price of S$2,412 psf, as at Apr 21. The most recent sale was a three-bedroom unit in April that transacted at S$3.03 million, or S$2,707 psf.
GuocoLand’s freehold Meyer Mansion, launched in September 2019, sold 21 of 200 units at an average price of S$2,747 psf at its launch weekend. According to caveats data as at Apr 21, the project has moved 194 units, with its latest transaction being the sale of a three-bedroom unit for close to S$3.92 million, or S$2,798 psf, in March.
Among resale transactions in District 15 in the year to date, the highest psf prices reached were all for three-bedroom units: one at Amber 45 for S$3.1 million or S$2,618 psf in January, a Meyerise unit at S$3.3 million or S$2,534 psf in February, and a third at Aalto for S$4 million or S$2,581 psf in April.
https://www.businesstimes.com.sg/pro...bout-s2580-psf
Re: The Continuum (D15, Freehold, Hoi Hup Sunway)
Over 26% of The Continuum’s units sold on launch day at average of S$2,732 psf
May 08, 2023
MORE than 26 per cent of the 816 units at The Continuum were sold on their launch weekend at an average price of S$2,732 per square foot (psf), said Hoi Hup Realty in a statement on Sunday (May 7).
A total of 216 residential units of the freehold development were sold, with “healthy demand” seen across all unit types, said the property developer.
Located on Thiam Siew Avenue off Tanjong Katong Road, The Continuum houses 816 units in six 17- to 18-storey tower blocks. More than 60 per cent of the units available are two- and three-bedroomers.
The development sits on two separate plots of land on either side of Thiam Siew Avenue in District 15, connected by a private pedestrian bridge. The overall site spans 263,715 square feet and has a plot ratio of 2.8.
Joint developers Hoi Hup and Sunway bought the land in November 2021 for S$815 million. They later added on a smaller piece of land on 2A Thiam Siew Avenue.
Mark Yip, chief executive of Huttons Asia, commended The Continuum’s “strong” showing in spite of the latest property cooling measures and “cloudy economic outlook”.
He noted that this marks the first freehold project launch with a land size above 200,000 sq ft in the Katong area in almost 20 years, with the last such project being Haig Court in 2004.
According to Huttons’ estimates, buyers were predominantly locals and first-timers. In addition, “quite a number” of units sold were larger units, which indicates that these were purchased by families for their own stay, Yip added.
Marcus Chu, chief executive officer of ERA Realty Network, noted that the agency’s buyers were attracted to The Continuum mostly because it is a large-sized freehold occupation, with a majority of them picking the two-bedroom or three-bedroom units to occupy as owners.
“Such larger-sized developments have proven to have stronger resale value, and they typically are able to fetch higher resale prices than smaller developments due to more resale demand and, as a result, successively more resale transactions done at higher prices.”
He added: “Purchasers today think long term. And the ability to reap better profits and returns on their purchases is an important consideration.”
PropNex chief executive Ismail Gafoor said the take-up rate of units was “encouraging” and reflects the “keen demand” for homes in District 15. This follows the launch of nearby Tembusu Grand last month, which sold 53 per cent of its 638 units at an average price of S$2,465 psf at its launch.
The average price of The Continuum is expected to trend higher than that of Tembusu Grand, “reflecting a premium for freehold properties, which tend to retain their value better over the long term”, he added.
Based on PropNex’s observations, The Continuum’s two-bedroom types were the most popular and accounted for about 61 per cent of the development’s total sales.
Gafoor also pointed out that there were no foreigners among the buyers served by PropNex, which transacted 100 units at The Continuum – a likely result of the latest round of cooling measures, which saw the Additional Buyer’s Stamp Duty rate for foreigners double to 60 per cent. This has affected investment demand from this group, he said.
More than 10 per cent of the buyers served by PropNex agents were Singapore permanent residents, while the rest were Singaporeans.
“Going forward, we expect residential property sales in Singapore to continue to be underpinned by demand from local buyers, which will lend stability to the overall market amid the new cooling measures,” said Gafoor.
The Continuum’s take-up rate was below the 75 per cent at Blossoms by the Park in Buona Vista, which was the first residential project to be launched after the latest cooling measures were implemented. However, there were only 275 units available in Blossoms by the Park.
Nicholas Mak, chief research officer of property portal Mogul.sg, said the cooling measures had “little impact” on the sales of both developments; rather, he attributed the key reason for The Continuum’s slower sales to buyers finding its price “too aggressive”.
The median transacted price of freehold non-landed private properties in District 15 sold by developers in the last 16 months has been S$2,480 psf, he noted. “Hence, if a new condominium project that is launched at a price level that is much higher than comparable projects in the vicinity, the sales would be slower.”
Mak also added that the percentage of units bought by foreigners in the past 16 months in both District 15 and in the Buona Vista area was relatively low, at less than 5 per cent of the transacted housing units.
https://www.businesstimes.com.sg/pro...rage-s2732-psf
