Abegail
Wing Tai just sold less than 30% of Foresque Residences in three weeks
Newbie
That is the risk when you setting a new benchmark.
Junior
But they only release 172 units mah. 140/172 = 81% of units launchedThe same number can be "presented" in different ways.
Like that d'Leedon would be lagi worse. Selling for almost 1 year already still only 20% sold.
Actually 30% sold out of total units with 3 weeks is not exactly a bad number. Apparently, everything above the initial 30% is "fats" and "profits" to the developer already.
Bricks & Mortar
Am sure Wing Tai is not worried but already laughing their way to the Bank, as they got the land really cheap:
Wing Tai launches Foresque Residences tomorrow (14 May 2011)
Posted on May 13, 2011 by Jack
Published 13 May 2011
The Business Times
By Uma Shankari
WING Tai Holdings will launch its latest residential project, Foresque Residences at Upper Bukit Timah, tomorrow.
Natural luxury: Foresque Residences features five towers that are designed for maximum sense of space and openness
The 496 units in the 99-year-leasehold development on Petir Road are priced from $850 per square foot (psf) to $1,300 psf. The smallest units, 463-sq-ft one-bedders, start from $550,000, while ‘cabana garden’ units start from $1.75 million.
Wing Tai won the site in a state land tender in October last year with its top bid of $345 psf per plot ratio (ppr).
Foresque Residences is designed by award-winning architects Arc Studio, with whom Wing Tai collaborated for L’VIV, its high-end project on Newton Road. As at end-March 2011, 103 apartments in the 147-unit L’VIV had been sold, with the sole unit sold in March going for $2,200 psf.
Foresque Residences’ design exploits to the fullest advantage the natural greenery and tranquillity of the Bukit Timah Nature Reserve, and offers views of the Upper Seletar and Upper Pierce Reservoirs, Wing Tai said.
The 24-storey development features five towers that are designed for maximum sense of space and openness. The design features aim to capture the unsurpassed expanse of natural luxury that the Cashew estate affords, said Edmund Cheng, deputy chairman of Wing Tai.
Len Siew Lian, Wing Tai’s general manager for property, said she is confident that Foresque Residences will be well-received by the market. The pricing is ‘commensurate’ with the quality and value of the development, she added.
Elsewhere, Hoi Hup Realty will soon start to market The Foresta @Mount Faber, its 141-unit freehold development on Wishart Road. It is located on the site of the former Pender Court, which Hoi Hup bought in a collective sale in June 2010 for $915 psf ppr.
Units in The Foresta @ Mount Faber are priced at around $1,800 psf on average, BT understands.
Exalted
Last time uol bot waterbank land site for 500psf n launched at similar price as forestkill....better furnishing too....hehe
Senior
Wing Tai's share not going up. Still very puzzled with the sales' figure. Consider quite good sales based on the location, etc. People must be really hungry and does not want to miss this boat.
Originally Posted by devilplate
Junior
wingtai has finally learned the model of FEO. Sell high high, just need to secure 30% sold to cover all costs, the rest are all profits. never mind need to sell 5 or even 10 yrs. can even have a high book value.
waterbank... wait u see Wee takes UOL private, no need to do reporting, then he can do the same style as FEO.
Newbie
this model only works when the land cost is low. In general, 30% sales can only cover the construction cost
Abegail
But if there is strong demand, it will prompt the developer to release more units.But they only release 172 units mah. 140/172 = 81% of units launched
Like that d'Leedon would be lagi worse. Selling for almost 1 year already still only 20% sold.
Actually 30% sold out of total units with 3 weeks is not exactly a bad number. Apparently, everything above the initial 30% is "fats" and "profits" to the developer already.
Junior
how is the sales after all the killing advertisement? forest kill cannot be write off rite?
I find the layout n finishing not too bad after visiting the showflat.
Too bad the price is not.
Senior
Far east doesn't believe in selling out quickly. They believe in setting record prices: bishan 8, centro.
Junior
same strategy as hdb
Newbie
see agents swap flies?
Go for Smallest Unit
yes, agree that agent swap flies, plus mosquitoes plus other insects.
there will always be records, one after another.
they will always be firesales.
they will always come a time when prices fall.
get it? its timing.
not to forget bank sales.
Senior
Actually recent FEO launches like Waterfront isle, 8 courtyards and Woodheaven seems quite attractively priced. I think once the reached 50% sales, they revert to their old ways of sell slow slow and high high.
Go for Smallest Unit
not too sure this time round.Actually recent FEO launches like Waterfront isle, 8 courtyards and Woodheaven seems quite attractively priced. I think once the reached 50% sales, they revert to their old ways of sell slow slow and high high.
Waterfont isle... more than 80%(confirmed) in today's classified.
By grapevine here.. 8 Courtyards more than 50%
Both still being advertised.
Woodhaven not launched right?
Old ways? Old general gone liao. MM and SM also no more liao. Everything is different lah. How to revert?
SSD never remove.
LTV never remove or reduce.
DPS not granted like old days.
IAS also not granted like old days.
How to revert. U see any of them?
When interest rate spikes. Their hair will spike too (other smaller developers other than FEO)
Just like this
Last edited by kingkong1984; 11-06-11 at 18:46.
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