Kovan Residences (D19, 99 years Leasehold, Duchess Development)

[TOP]

It is nothing if you compare with almost 90% glass walls ( dinning, living, rooms, toilet etc ) in One North Residence. You can see who is bathing next door and opposite blocks.

[Reporter]

Yes, I think flooding may have occurred in the past. That's why it's called Lowland Rd. But, I know of somebody who has lived in the area for the past 30 years. He has never seen a flood. It would be disastrous if there is a flood now because of the underground Kovan MRT. So, I am very sure the authorities would have planned carefully.
From URA's Masterplan 2008, there will be at least another 3 more condo development in the area, all next to the Kovan MRT or within 5 mins walking distance.

The weatherman didn't mentioned anything about flood in the Lowland/Kovan area this time.

Flash floods in Bukit Timah
The Straits Times
Thursday, 19 November 2009, 3.46 pm

...

Heavy downpours caused flash floods in the Upper Bukit Timah areas, with waters reaching knee-high in some places.

Traffic snarled along Upper Bukit Timah and Dunean Roads as cars slowed to a crawl to get through the flood waters.

Motorists said the Bukit Timah canal was overflowing, causing waters to rise to knee-high level in some areas.

Students who had sat for their A Level exams were stuck at bus-stops and in schools.

According to Stomper Martin, the flooding caused a major traffic jam on Bukit Timah and Dunearn Road sometime between 1 pm and 2.30pm.

He said he was stuck in his office at Sime Darby Centre during the heavy downpour and was late for a meeting because of it.

Singapore's weatherman has forecast that the wet spell will continue till January and flash floods are expected in low-lying and flood-prone areas including Chinatown, the Central Business District, Geylang, Lorong Buangkok and Tanjong Katong.

PUB, the national water agency, has said that heavy rain brought on by the north-east monsoon could coincide with 3m- to 3.2m-high tides, triggering flash floods over the next few months.

To quell the effects of the stormy spell, PUB has invested $59 million over the last 12 months to widen and deepen drainage networks, as well as raise the roads in 10 low-lying areas such as Cuscaden Road, Mountbatten Road and Commonwealth Avenue.

Since last month, the agency has advised 204 residents and businesses to store belongings on elevated ground and place sandbags at entrances to block flooding.

[teddybear]

ONR probably designed for Ang Mos mah, they will enjoy the design and effort specially put in by the developer (the one who is exhibiting will enjoy, the one who is watching lagi enjoy).

It is nothing if you compare with almost 90% glass walls ( dinning, living, rooms, toilet etc ) in One North Residence. You can see who is bathing next door and opposite blocks.

[Reporter]

Private Residential Units Sold in the Month of November 2009

Project Name ..... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Kovan Residences . RCR ......... 334 ......................... 4 ................................ 866 ............... 851 ................ 817

Goodness! Will KR ever break its high of $964 psf set in September 2008.

[stanchan]

I think 850+ psf is probably fair value. But worth noting that majority of the unlaunched units are larger ones, it may not hit 950+ psf. Else, a 4 brm will cost >1.6 mil. But who knows?

does anyone know when the relaunch will be? I'd like pretty much to visit the new show suite in the actual units.

Goodness! Will KR ever break its high of $964 psf set in September 2008.

[Paul-tc]

I think 850+ psf is probably fair value. But worth noting that majority of the unlaunched units are larger ones, it may not hit 950+ psf. Else, a 4 brm will cost >1.6 mil. But who knows?

does anyone know when the relaunch will be? I'd like pretty much to visit the new show suite in the actual units.

you don't need to wait for re launch..the re launch could be the TOP, my advice give the marketing agency a call (ERA or DTZ) or the developer itself...

[fclim]

Goodness! Will KR ever break its high of $964 psf set in September 2008.

From URA's website, in the latest caveat lodged in Dec 2009, a 1,442 sq ft (3 + Study) unit was sold for $940 psf. So, yup, it might well hit $964 psf soon especially for the 2BR units.

[Sea]

Kovan Residences

(Right next to Kovan MRT)

Come Experience The True Spaciousness & Elegance

Actual Showflats Opening For Viewing From 16 Jan 2010 Onwards!

Unit Types Available:

3-bedroom, 3+Study, 4-bedroom, 4+Study, 5-bedroom (maybe upon request only) & Penthouses

Sms at 90686016 for Appt!!

[fclim]

The show suites are open. You enter from the MRT exit/bus stop side. Prices start from $1.3M. The show suites look good, are spacious and luxurious.

[2824]

at $1.3m for a 3 bedder, isn't that $1000 psf. How prices have increased !!!

The show suites are open. You enter from the MRT exit/bus stop side. Prices start from $1.3M. The show suites look good, are spacious and luxurious.

[mantrix]

i heard there is a huge number of PRC buyers (at least 20%) so you can have your very own 'Chinatown' staying there

[fclim]

Aren't they everywhere? Not just in condos, but schools, foodcourts, HDB flats and even at the IRs too.

[mantrix]

Aren't they everywhere? Not just in condos, but schools, foodcourts, HDB flats and even at the IRs too.

That's right but they seem to congregate more in the RCR areas...
Some condos have more Indians, some have more Caucasians (like Icon) and some Indonesian - this one likely to be a PRC community...no good or bad, just adapting to their cultures (and habits)

[stanchan]

That's right but they seem to congregate more in the RCR areas...
Some condos have more Indians, some have more Caucasians (like Icon) and some Indonesian - this one likely to be a PRC community...no good or bad, just adapting to their cultures (and habits)

Regardless, to be paying 1.3 Mil for 3-bedrm units, these must be quite well paid professionals.

Did anyone visit the new showsuites? How are the actual units?

[mantrix]

Regardless, to be paying 1.3 Mil for 3-bedrm units, these must be quite well paid professionals.

Did anyone visit the new showsuites? How are the actual units?

i wouldn't say they are professionals...many of them own businesses with supplies coming from China and they thrash the competition with their cheap prices, hence making money along that line. Paying 1.3M does not guarantee a well-mannered executive - one i know of moving to KR is a Chinese woman in her 40's who behaves just like a villager - she spits on the carpet in airport terminals when no security is around and walks / talks loudly. Good luck to her neighbours.

[fclim]

The show suites are quite nicely done and are big. The $1.3M price is for the 3+Study (1442sqft) units. 4 bedders are at least $1.5M. Close to 50% of the units in the development are greater than 1400sqft in size compared to less than 20% at DBR. KR is more a luxurious type of condo with little extras like main door card access and video intercom system in each unit. At such prices, it is not a mass market condo for upgraders.

[proud owner]

i wouldn't say they are professionals...many of them own businesses with supplies coming from China and they thrash the competition with their cheap prices, hence making money along that line. Paying 1.3M does not guarantee a well-mannered executive - one i know of moving to KR is a Chinese woman in her 40's who behaves just like a villager - she spits on the carpet in airport terminals when no security is around and walks / talks loudly. Good luck to her neighbours.

ahhahha

once i saw with my own eyes ..

from her accent,, i could tell shes from mainland china ..
her body was submerged up to her arm pit level in the swimming pool ..
her hand was hold a satay stick of fried fish balls ...and she happily eating ..while shes in the pool ..

solid hor ?

[seeker]

I saw one spit in the public pool before! Super disgusting.

A friend who bought Botannia in West Coast (completed last year) for investment was complaining that the damn project is filled with PRCs and their inconsiderate behaviours.

[proud owner]

[quote=seeker]I saw one spit in the public pool before! Super disgusting.





" If not for us buying up your properties, you think your market will chiong ? "

Phui ... into the pool

[stanchan]

i wouldn't say they are professionals...many of them own businesses with supplies coming from China and they thrash the competition with their cheap prices, hence making money along that line. Paying 1.3M does not guarantee a well-mannered executive - one i know of moving to KR is a Chinese woman in her 40's who behaves just like a villager - she spits on the carpet in airport terminals when no security is around and walks / talks loudly. Good luck to her neighbours.

Wah so scary! Thanks so much for informing me. I should so listen to your advice and drop by idea of buying the development!

what's more, I heard that 80% of the buyers are intolerant and narrow-minded Singaporeans who like spreading senseless and baseless
rumours.

In fact, I'd better stay put in HDBs then and not even consider buying anything cos PRCs will be anywhere and everywhere. They are even taking up
citizenship and buying up our GCBs. Really scary...

[Reporter]

Goodness! Will KR ever break its high of $964 psf set in September 2008.

KR's all-time high of $964 psf, set in September 2008, has been broken finally.
The nëw hïgh is now $1,009 psf!


Private Residential Units Sold in the Month of January 2010
Project Name ..... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Kovan Residences . OCR ....... 353 ....................... 13 .......................... 1,009 ........... 954 ............. 861

[fclim]

[quote=Reporter]KR's all-time high of $964 psf, set in September 2008, has been broken finally.
The nëw hïgh is now $1,009 psf!


I am not surprised, given its excellent location next to MRT.

[2824]

but on that website, still saw one contract for high floor unit transacted at $754 psf. Is this subsale?

[stanchan]

Hmmm, only 369 units out of 521 units launched... Any idea when they are going to launch the remaining 152 units? developer hoping for higher prices maybe.

[fclim]

Most probably. The marketing strategy of this development is quite unusual. Most developers will release 50% to 70% of the units at first launch and sell the rest (usually prime units) later. They would have collected 20% of the selling price by the time the foundation is laid thereby easing their cashflow and lowering the loan gearing ratio. Quite a few developments launched in 2009 were completely sold out within days. Apparently, this developer has started building and releasing units a few at a time. So far, the cycle is like this: Sell high (about 10% of the total units) during the soft launch in July/Aug 2008, Sell at breakeven price from Mar to Jun 2009, Sell high again when relaunched in Jan 2010. The strategy may have worked to the developer's advantage. 46% of the units in this development are above 1,400 sq ft compared to other developments (about 10% to 20%). This means that most buyers would have to fork out a higher quantum of at least $1 million per unit which could explain why the developer has no choice but to release units in tandem with the market conditions. The situation would have been different if most of the units are studio apartments. Anyway, the two bedders have already been sold out long ago.

[2824]

they should wait until NEX is up before they should their final selling. Anyway, pple who buy this project is all for the convenience.

Pity developer sold out the 2 bedders so fast bcos that shd be able to command a high psf is so near TOP.

[fclim]

Agree. Probably the developer did not expect the two bedders to move so quickly.

I believe the prices for KR will increase further nearer to TOP and when NEX is open (ard Nov 2010). NEX is bigger than Junction 8.

[Condorich]

Agree. Probably the developer did not expect the two bedders to move so quickly.

I believe the prices for KR will increase further nearer to TOP and when NEX is open (ard Nov 2010). NEX is bigger than Junction 8.

I think they were sold under preview to business associates and friends / relatives... first to go prior to launch... Was there early but was already sold out. Give 3 bedders a miss then. Prices were revised down thereafter but has since recovered till a level that could even be above the initial launch price. That's the art of following the cycle or "sine".

[stanchan]

Yes, with the Nex Mall coming up and pending upgrading of the Kovan City market/hawker center this year, that area does seem quite interesting.

People keen in that neighborhood may also take note that the Kovan vicinity will be booming with new developments. Frankly, I used to find that the landed house area behind Kovan is old and very messy (narrow roads and very old houses). However, it seems like the facades and streetscape will change quite rapidly, soon:
- nearby D'Pavillion, Fiorenza, Parry Fontaine, Charlton Park terraces will TOP this year.
- couple of boutique/landed developments launched: Suites @ Kovan, The Kovan, Water Villas
- nearby Minton Estate en-bloc at Hougang St 11 will yield 1000+ units.
- recent land sales at Hougang Ave 2 will add another 500+ units.
- further down, Botanique, Glasgow Residences launched
- Simon Road will be widened and turned into bidirectional
- Kovan Road in front of Kovan Plaza will be widened
- stretch of Upp Serangoon Rd from Simon Rd to Yio Chu Kang Road is being enhanced as a Heritage Walk

Under the Master Plan, the entire Florists/Nurseries opp Kovan Residences, and the empty plot along Simon Road are all zoned for private residential use.

Will these be good for KR prices and value in future? I am not sure if surrounding developments are a bane or a boon but Kovan Residences does share the pristine advantage with Kovan Melody of being just above the MRT station.

[fclim]

IMHO, yes. These developments will benefit KR and have a knock-on effect. Yesterday's news in Wan Bao has some experts commenting that the new condo development in Minton, Lorong Ah Soo and the one in Lorong Chuan next to the MRT will be launched at >$1,000psf this year. This will set a new benchmark for District 19.