UOL, SingLand sell over 100 units at Archipelago condo preview

[reporter2]

http://www.businesstimes.com.sg/sub/...69540,00.html?

Published December 1, 2011

Archipelago average price to top $1,000 psf

577-unit project consists of both condominium and strata houses

By MINDY TAN


THE 577-unit Archipelago @ Bedok Reservoir, a project which boasts a combination of both condominium and strata houses, is expected to preview tomorrow.


Archipelago @ Bedok Reservoir: The project has 51 penthouse units ranging from 1,432 sq ft to 3,434 sq ft

The development will be launched in phases; the first phase will feature between 180 and 200 units.

The 99-year leasehold project, which is located on a 491,080 square foot site, is expected to fetch an average price of between $1,000 and $1,100 per square foot (psf).

The five-bedroom strata houses are about 4,400 sq ft each and have an indicative price of above $3 million.

BT understands that a preview of Archipelago will be held for invited guests tomorrow, and for those who have registered interest with the marketing agents. The development is marketed by Knight Frank, DTZ, CBRE and Savills.

Condominium units include one-bedroom to five- bedroom units, and penthouses. One-bedroom units range from 527 to 667 sq ft, and are expected to fetch $600,000 onwards. Two- and three-bedroom units, which range from 829 sq ft to 1,894 sq ft, constitute approximately 63 per cent of the units sold.

There are a total of 15 five-bedroom units, which are split into three stacks; they range between 2,411 sq ft and 2,648 sq ft.

There are 51 penthouse units, including 15 penthouse lofts, which feature two bedrooms and a study. The penthouse units range from 1,432 sq ft to 3,434 sq ft, and include variations with lofts, four bedroom, five bedroom, and five bedroom with study.

Separately, over 80 per cent of the units at Bedok Residences, CapitaLand's newest integrated development, have been sold. The average selling price is $1,350.

[reporter2]

http://www.businesstimes.com.sg/sub/...87940,00.html?

Published December 7, 2011

UOL, SingLand sell over 100 units at Archipelago condo preview


UOL Group and Singapore Land are said to have sold slightly over 100 units at their Archipelago condo as of 6 pm yesterday. This is out of the 190 units in the 577-unit development released at a preview that began last Friday.

The average price for the five-storey, 99-year leasehold project which will face Bedok Reservoir Park is about $1,000 psf.

The development is within 500 metres from Bedok Town Park MRT Station, which is under construction.

Slightly over 20 per cent of Archipelago's buyers are foreigners (including permanent residents). Comprising a mix of nationalities - including mainland Chinese, Taiwanese, Indonesians, Malaysians and Australians - they steered towards the larger units, including the strata semi-detached houses.

Foreigners do not require permission from Land Dealings (Approval) Unit to buy strata landed homes that are within a development with condominium status, making them popular with foreigners.

BT understands that eight to 10 of Archipelago's 24 strata semi-D homes have been sold. These have a strata area of around 4,400 sq ft and are priced at $3.1 million-$3.5 million.

Market watchers noted that a relatively high proportion of Archipelago's 577 units are large - about a fifth have four or five bedrooms - which means their absolute lump-sum dollar prices are substantial. Prices of one-bedroom units start from $590,000 for a 527 sq ft unit. The cheapest three-bedder (1,184 sq ft) costs $1.18 million. Four-bedders are priced from $1.7 million (for a 1,650 sq ft apartment).

'So this is not entirely an upgraders' project', as one property consultant put it, and could account for the relatively slower response for Archipelago compared with Bedok Residences, which was previewed last month - besides the latter's superior location.

Bedok Residences will be connected to Bedok MRT Station and integrated with a bus interchange. It will also be part of a mixed development that will include a mall. On its first day of release, Nov 23, 350 of 450 units released were taken up. The 583-unit development is now more than 80 per cent sold. The 15-storey project is priced at $1,350 psf on average.

[phantom_opera]

last two 1brs

[zeamybro]

last two 1brs

Phantom bro ... Your prediction is really accurate. With the new cm, I think these last 2 would be snapped up in no time.

[phantom_opera]

Phantom bro ... Your prediction is really accurate. With the new cm, I think these last 2 would be snapped up in no time.

yes, God send for UOL .. Parc Centros 1brs also just up price liao

[zeamybro]

1br + near amenities + near mrt + below 600k + declining supplies ..... Hard to find already

[bakasa2002]

You guys forget to add near a big pool of water ... Lolx!

[price]

1br + near amenities + near mrt + below 600k + declining supplies ..... Hard to find already

geylang got a lot wat. 5xxk. freehold summore.

[hyenergix]

yes, God send for UOL .. Parc Centros 1brs also just up price liao

These developers are really fast in capitalising on reduction in supply of MM units.

[phantom_opera]

geylang got a lot wat. 5xxk. freehold summore.

different market segment, you need to be Geylang OKT or gangsters to manage

[zeamybro]

geylang got a lot wat. 5xxk. freehold summore.

Yeah u r rite and i left those out...

But geylang usually small projects, limited facilities, seedy env, non-residential feel, freehold also no use cos limited enbloc potential as land already full maximized.. But good rental yield

[bakasa2002]

Seems like the entire project gonna sell out soon and construction is going on pretty fast. They already start collecting first 10% for some units. The last to be constructed stacks are likely to be the one nearer to the HDB carpark, rubbish dump. Quite a good deal considering they are amount the star buys units and also last few to pay.

According to last Sat ST ad
- 1BR Last Few Units
- 2BR Limited Star Buy Units
- 3BR Limited Star Buy Units
- PH From $872psf
- Strata Units From $777psf
- 3/4/5BR Fully sold

Also got a update from agent that I think Strata Units left with 4. It still baffle me that people would choose to pay 3.x mil for 99LH strata in this location.

[zeamybro]

Seems like the entire project gonna sell out soon and construction is going on pretty fast. They already start collecting first 10% for some units. The last to be constructed stacks are likely to be the one nearer to the HDB carpark, rubbish dump. Quite a good deal considering they are amount the star buys units and also last few to pay.

According to last Sat ST ad
- 1BR Last Few Units
- 2BR Limited Star Buy Units
- 3BR Limited Star Buy Units
- PH From $872psf
- Strata Units From $777psf
- 3/4/5BR Fully sold

Also got a update from agent that I think Strata Units left with 4. It still baffle me that people would choose to pay 3.x mil for 99LH strata in this location.

Bakasa - my agent once offered me a 2BR nearest to the rubbish dump facing the strata for less than 900K ... then a friend told me its too near the power generator station which is bad for fengshui/health/ or whatever....

Anyway pls pardon my ignorance, issit really better to be the last few to pay? I thought pay earlier is better cos get to enjoy the lower interests rates now, but thats provided the "delay" would cause a significant rise in the interest rates la..

[bakasa2002]

Bakasa - my agent once offered me a 2BR nearest to the rubbish dump facing the strata for less than 900K ... then a friend told me its too near the power generator station which is bad for fengshui/health/ or whatever....

Anyway pls pardon my ignorance, issit really better to be the last few to pay? I thought pay earlier is better cos get to enjoy the lower interests rates now, but thats provided the "delay" would cause a significant rise in the interest rates la..

Wah, that's really a good deal but I think it's sold already. Fengshui apart for investment it seems alright.

To clarify the point cos' a friend of mine got a unit in somewhere in the middle of the project and construction has begin, so he been told 10% is disburse by the bank, but assuming the whole project TOP at the same time, you might end up paying ahead of others by a few months?

I do understand your point about low interest rate and that is another important factor but typically loan are more than 20 yrs, so maybe not so big diff? Have to qualify, I am not familiar w housing loan.