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Thread: North Park Residences

  1. #16

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    Quote Originally Posted by 5littlecow View Post
    Saw many agents camping outside the show flat when I drove past today . . Heard they are opening the show flat on 14 March which is 2 weeks from now
    If they r in for the briefing today, guess it will be open this coming sat 7 mar...

  2. #17

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    So their showflat is open today ? Anybody going down for a look can share how its like ?

  3. #18

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    Weekend preview of North Park homes
    Rennie Whang
    The Straits Times
    Wednesday, Mar 11, 2015

    THE largest integrated development in Singapore's north opens its residential component for preview this weekend.

    The 920-unit North Park Residences is part of Northpoint City, which will have a gross floor area of about 1.33 million sq ft when completed in 2018.

    Northpoint City will include a mall of about 500 outlets and the existing Northpoint Shopping Centre.

    Nee Soon Community Club will move to the complex, which will have a bus interchange and links to Yishun MRT station.

    "We have been (in Yishun) for 23 years with Northpoint Shopping Centre... We feel a close relationship with Yishun (and) wanted to make sure our development would... integrate the two," Frasers Centrepoint Homes chief executive of development and property Cheang Kok Kheong said at a briefing yesterday.

    "We have a deep track record in designing, building and managing integrated developments... We have done it in Changi City Point, Compass Point and in Sydney's Central Park.

    "As we are keeping and managing the mall, (buyers of North Park Residences) are ensured maintenance (and) management... over the years."

    North Park Residences will have 12 10-storey towers, with one- to five-bedders ranging from 431 sq ft to 1,432 sq ft.

    Pricing is expected to be at a 30 per cent premium to totally "non-integrated" suburban projects.

    Frasers Centrepoint Homes is targeting young couples and buyers in their late 40s and early 50s who anticipate eventual use of the health-care facilities nearby.

    These include Khoo Teck Puat Hospital, Yishun Polyclinic and Yishun Community Hospital, which is under construction.

    North Park Residences will start from the fourth storey.

    This is to address concerns residents might have about safety amid the high shopper traffic at Northpoint Shopping Centre.

    Each tower will have its own lift, with a separate concierge and lift for visitors.

    Chestertons managing director Donald Han told the briefing that prices at other integrated residential projects - including The Centris in Jurong Point, Bedok Residences and The Hillier - have held up better than those at nearby projects.

    PropNex Realty chief executive officer Mohd Ismail said integrated developments would be able to weather downturns in the property market due to continued rental demand.

    The most recent project by Frasers Centrepoint Homes, RiverTrees Residences, has sold 67 per cent of its units at an average price of $1,050 per sq ft since launching a year ago.

    "There is demand for good properties and good investment opportunities... at the right price," said Mr Cheang.

    Units are expected to go on sale at the end of this month.

    [email protected]

  4. #19

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    Frasers to start selling condos in Yishun project at end-March
    Lynette Khoo
    The Business Times
    Wednesday, Mar 11, 2015

    North Park Residences, Frasers Centrepoint Ltd's (FCL) newest condominium project in Yishun, is slated to begin sales at the end of this month, with a preview starting this weekend for buyers to express interest through placement of cheques.

    Property consultants said they are expecting residential projects within integrated developments to outperform pure residential projects.

    With more than half of the units being one to two bedders starting from 431 sq ft and the rest being three to five-bedroom units, the 920-unit project is targeting both investors and owner-occupiers, said Cheang Kok Kheong, FCL's CEO of development and property.

    FCL is likely to initially release half of the total units for the project, which is marketed by PropNex and Huttons.

    PropNex chief executive Mohamed Ismail said there is an estimated 30 per cent price premium associated with such integrated projects with a retail component and seamless underground access to a transport hub given that its construction costs are about 30 per cent higher than a pure residential project.

    But the higher costs will eventually trickle down to higher yields and capital appreciation, which is why buyers are willing to fork out that premium, Mr Ismail said.

    "All capital appreciation is a by-product of rental yield from an investment perspective."

    North Park Residences is part of Northpoint City, the largest integrated development in the north of Singapore slated to complete in 2018. Northpoint City will also have over 500 retail shops and F&B outlets and covered walkways to an integrated transport hub comprising a new air-conditioned bus interchange and the existing Yishun MRT station.

    FCL is integrating the existing Northpoint Shopping Centre with the new development, which has a total gross floor area of about 1.33 million sq ft in Yishun Central.

    Mr Cheang said the developer has given due consideration for security given the high footfall of FCL's malls. Access to lift lobbies are private and secure, while the residents' carpark on the third floor is exclusive and separate from that of the mall. Residential units, which start from level 4, are also served by a main concierge lobby.

    North Park Residences is in close proximity to the medical hub of Singapore's northern region comprising Khoo Teck Puat Hospital and community healthcare facilities, he said.

    Donald Han, managing director of Chestertons, is expecting overall private residential prices to moderate up to 5 per cent this year amid interest rates normalisation and mounting supply of newly completed homes. But suburban projects near MRT, amenities, and retail centres will be "fairly resilient and may outperform the rest of the market", he said.

    Suburban non-landed residential projects turned out to be more resilient last year amid falling prices, with the Outside Central Region (OCR) marking a smaller price decline of 2.2 per cent, compared to a 4.1 per cent fall in the Core Central Region (CCR) and a 5.3 per cent drop in the Rest of Central Region (RCR).

    Looking at the performance of a few integrated residential developments like The Centris, Bedok Residences, The Hillier and Nine Residences, Mr Han said that these integrated residential developments garnered higher per square foot (psf) pricing than pure residential projects in their respective localities. These projects also saw an uptick in median prices in the first quarter.

    For pure residential project RiverTrees Residences at Sengkang, FCL sold 67 per cent out of a total 495 units, as the group has been "pricing it at the right price", Mr Cheang said. Caveats lodged show a median price of around S$1,100 psf since the launch.

    Mr Ismail noted that many prospective buyers are holding back their decision for fear that prices would drop further, but selected projects still do well. "We disqualify ourselves from selling some products because we know we will be hitting against the wall," he said. "In this current market, it is a buyers' market."

  5. #20

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    Hmmm , 30% pricing premium . That means 1300 psf ? Cos symphony suites is 1000 psf 😄

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