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Thread: D-Pavilion (D19, Freehold, MCL Land)

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    http://www.businesstimes.com.sg/sub/...87712,00.html?

    Published July 15, 2008

    Condo sales at showflats tapering off

    One developer blames Livia's pricing for 'spoiling' other projects' sales

    By KALPANA RASHIWALA


    WHILE City Developments managed to sell 96 units last week at its Livia condo at Pasir Ris, developers of most other projects suffered rapidly declining sales at their showflats.


    Woodsville 28: When Frasers Centrepoint previews its project this weekend, the stakes for nearby Kovan Residences are expected to go up

    At least one developer blamed Livia's attractive pricing - $650 psf on average - for 'spoiling' sales of other projects, while others said a tapering off was to be expected given negative news flows from overseas on the state of the financial and stock markets.

    Developers and property agents generally reported still strong turnouts at showflats last weekend, although take-up slowed.

    Sim Lian sold 19 units last week at its Clover By The Park condo in Bishan, less than the 59-unit sales it achieved in the preceding week. To date, Sim Lian has sold 273 of the total 616 units in the project. 'That's almost 45 per cent of a large project in just three weeks; that's quite an achievement given current market sentiment,' Sim Lian Group executive director Diana Kuik said when approached by BT.

    The 99-year leasehold project's average price remains at $750 psf.

    Sim Lian also sold a unit at The Amery, a freehold project in the Telok Kurau area, last week - again a less sparkling performance than the four units it sold a week earlier.

    Next to Geylang River, NTUC Choice Homes and Ho Bee found buyers for another nine units at Dakota Residences last weekend. This brings total sales to 170 units in the 99-year project, which has an average price of about $980 psf.

    Over in the Kovan MRT Station vicinity, the developer of Kovan Residences sold about 20 units last week, bringing total sales to over 100 units since the 99-year project was previewed at a private party on June 28. The average price is somewhere in the $870-900 psf range. Nearby, MCL Land sold another three units at its D-Pavilion, a freehold project priced at $900 psf on average last week. This was a slower sales rate than initial sales of 10 units the preceding weekend.

    The stakes will go up for these two developers when Frasers Centrepoint previews this weekend its Woodsville 28 near Potong Pasir MRT Station - which is three MRT stops closer to town than Kovan MRT Station.

    The 110-unit condo will have an average price of $880 psf. The 99-year leasehold development comprises two 17-storey blocks.

    'The two- and three-bedder units, with respective average sizes of 883 sq ft and 1,195 sq ft, are about 5 to 6 per cent smaller than conventional units as we've adjusted our sizes to fit the profile of the market we're targeting - those just starting their families or young couples who want to stay near the city and even retirees.

    'Two-bedroom apartments start at $700,000 and three-bedders from just over $1 million,' says Frasers Centrepoint Homes chief operating officer Cheang Kok Kheong.

    CDL's spokeswoman said Livia saw strong take-up of various unit types last week, especially two- and three-bedders. 'The four-bedroom apartments were purchased either for owner occupation or rental potential in view of United World College's East Campus coming up in the vicinity.

    'The project's average price remains $650 psf, with prices for certain unit types and facing being upped by 1-3 per cent for the latest release of 120 units last weekend,' she added.

    The 96 units sold at Livia last week contrasted with sales of 160 units in the preceding week when CDL previewed the 99-year leasehold project, resulting in total sales of 256 units. So far, 320 of the condo's total 724 units have been released.

    A veteran property consultant said: 'Crowds were generally still very good at showflats last weekend, though take-up has slowed. In any development, demand for 30-40 per cent of units comes from the surrounding population catchment. Usually that's the case, good or bad times.

    'Once sales in a project launch hits a certain percentage from this catchment demand, developers have to attract people from other parts of Singapore. That's a tougher job, with a lot more convincing to be done compared with selling to people who already know the area.'

    Another problem is that buyers are unsure of the property market's direction. 'Even when there are attractively priced projects, potential buyers worry if property prices will go down further. They also ask themselves whether they really need to upgrade; they worry about the economy and their jobs. The bad news coming out from financial institutions in the US is a big concern,' a property agent said.

    On a more positive note, Sim Lian's Ms Kuik said: 'If you have a good product in a location where there's a pool of buyers and if your pricing is reasonable, there will be take-up.'

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    Was at D'Pavillion showflat yesterday, the sales agent mention they are not even softlaunch yet but the showflat was opened. Strange.

    There is only one showflat and is largely unimpressive.

    Considering it is a 50 units condo, the facilities is pretty limited. One small gym, bbq pit and a small "lap" pool less than 20 metres.

    Pricing wise for a two bedder of 969sq ft, average is approx $939psf. I was quite disappointed at the quality of the finishes provided. Compressed marble for living room and ceramic tiles for Master bath. To buy a property at close to S$1mil , I think MCL should at least be providing marble/granite for Masterbath. As usual huge balcony space and bay window makes the whole place looks smaller.

    Wouldn't recommand to anyone who drives as the traffic along the stretch of road is terrible too. I was expecting a higher quality development but in the end, I was quite disappointed.

  3. #3
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    Quote Originally Posted by iridrium
    Was at D'Pavillion showflat yesterday, the sales agent mention they are not even softlaunch yet but the showflat was opened. Strange.

    There is only one showflat and is largely unimpressive.

    Considering it is a 50 units condo, the facilities is pretty limited. One small gym, bbq pit and a small "lap" pool less than 20 metres.

    Pricing wise for a two bedder of 969sq ft, average is approx $939psf. I was quite disappointed at the quality of the finishes provided. Compressed marble for living room and ceramic tiles for Master bath. To buy a property at close to S$1mil , I think MCL should at least be providing marble/granite for Masterbath. As usual huge balcony space and bay window makes the whole place looks smaller.

    Wouldn't recommand to anyone who drives as the traffic along the stretch of road is terrible too. I was expecting a higher quality development but in the end, I was quite disappointed.
    well said, same opinion as u. Nowadays the developers are trying to rip off buyers other than the flippers. High price with low quality furnishings...gd luck to them....anyway, do take a look at Charlton Villa if u can pay abit more...its worth the $$$ spent.

  4. #4
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    Quote Originally Posted by Well Said
    well said, same opinion as u. Nowadays the developers are trying to rip off buyers other than the flippers. High price with low quality furnishings...gd luck to them....anyway, do take a look at Charlton Villa if u can pay abit more...its worth the $$$ spent.
    Anyone know how's sales so far? Finishing quality quite subjective. How can this be compared to Charlton which is at least 50% more in price tag? Comparing apples to oranges. A bit talk cock.

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    only 10%~20% sold ... agreed it is over price

  6. #6
    KK1
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    Has developer lower prices for this project?

  7. #7
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    Quote Originally Posted by KK1
    Anyone know how's sales so far? Finishing quality quite subjective. How can this be compared to Charlton which is at least 50% more in price tag? Comparing apples to oranges. A bit talk cock.


    been to the showroom during softlaunch, price really to high for the area, finishing really don't justified the psf price...... i always driving pass the showroom during weekends and i must say it is really quiet...... wit current financial crisis and property market starting to slow down, i think it will take a long time to sell their units.

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    Quote Originally Posted by toady
    been to the showroom during softlaunch, price really to high for the area, finishing really don't justified the psf price...... i always driving pass the showroom during weekends and i must say it is really quiet...... wit current financial crisis and property market starting to slow down, i think it will take a long time to sell their units.
    I concur. I am surprised that the prices have not dropped

  9. #9
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    Passby the site on Sunday. Anyone has the latest update on this project?

  10. #10
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    Quote Originally Posted by gohsoonk
    I concur. I am surprised that the prices have not dropped
    was at the showflat yesterday...
    not at all impressive...
    can see from the construction that it is a really congested project...
    if you ask me,i would tell u dun waste your time there . ..

  11. #11
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    Quote Originally Posted by mr funny
    http://www.businesstimes.com.sg/sub/...87712,00.html?

    Published July 15, 2008

    Condo sales at showflats tapering off

    One developer blames Livia's pricing for 'spoiling' other projects' sales

    By KALPANA RASHIWALA


    WHILE City Developments managed to sell 96 units last week at its Livia condo at Pasir Ris, developers of most other projects suffered rapidly declining sales at their showflats.


    Woodsville 28: When Frasers Centrepoint previews its project this weekend, the stakes for nearby Kovan Residences are expected to go up

    At least one developer blamed Livia's attractive pricing - $650 psf on average - for 'spoiling' sales of other projects, while others said a tapering off was to be expected given negative news flows from overseas on the state of the financial and stock markets.

    Developers and property agents generally reported still strong turnouts at showflats last weekend, although take-up slowed.

    Sim Lian sold 19 units last week at its Clover By The Park condo in Bishan, less than the 59-unit sales it achieved in the preceding week. To date, Sim Lian has sold 273 of the total 616 units in the project. 'That's almost 45 per cent of a large project in just three weeks; that's quite an achievement given current market sentiment,' Sim Lian Group executive director Diana Kuik said when approached by BT.

    The 99-year leasehold project's average price remains at $750 psf.

    Sim Lian also sold a unit at The Amery, a freehold project in the Telok Kurau area, last week - again a less sparkling performance than the four units it sold a week earlier.

    Next to Geylang River, NTUC Choice Homes and Ho Bee found buyers for another nine units at Dakota Residences last weekend. This brings total sales to 170 units in the 99-year project, which has an average price of about $980 psf.

    Over in the Kovan MRT Station vicinity, the developer of Kovan Residences sold about 20 units last week, bringing total sales to over 100 units since the 99-year project was previewed at a private party on June 28. The average price is somewhere in the $870-900 psf range. Nearby, MCL Land sold another three units at its D-Pavilion, a freehold project priced at $900 psf on average last week. This was a slower sales rate than initial sales of 10 units the preceding weekend.

    The stakes will go up for these two developers when Frasers Centrepoint previews this weekend its Woodsville 28 near Potong Pasir MRT Station - which is three MRT stops closer to town than Kovan MRT Station.

    The 110-unit condo will have an average price of $880 psf. The 99-year leasehold development comprises two 17-storey blocks.

    'The two- and three-bedder units, with respective average sizes of 883 sq ft and 1,195 sq ft, are about 5 to 6 per cent smaller than conventional units as we've adjusted our sizes to fit the profile of the market we're targeting - those just starting their families or young couples who want to stay near the city and even retirees.

    'Two-bedroom apartments start at $700,000 and three-bedders from just over $1 million,' says Frasers Centrepoint Homes chief operating officer Cheang Kok Kheong.

    CDL's spokeswoman said Livia saw strong take-up of various unit types last week, especially two- and three-bedders. 'The four-bedroom apartments were purchased either for owner occupation or rental potential in view of United World College's East Campus coming up in the vicinity.

    'The project's average price remains $650 psf, with prices for certain unit types and facing being upped by 1-3 per cent for the latest release of 120 units last weekend,' she added.

    The 96 units sold at Livia last week contrasted with sales of 160 units in the preceding week when CDL previewed the 99-year leasehold project, resulting in total sales of 256 units. So far, 320 of the condo's total 724 units have been released.

    A veteran property consultant said: 'Crowds were generally still very good at showflats last weekend, though take-up has slowed. In any development, demand for 30-40 per cent of units comes from the surrounding population catchment. Usually that's the case, good or bad times.

    'Once sales in a project launch hits a certain percentage from this catchment demand, developers have to attract people from other parts of Singapore. That's a tougher job, with a lot more convincing to be done compared with selling to people who already know the area.'

    Another problem is that buyers are unsure of the property market's direction. 'Even when there are attractively priced projects, potential buyers worry if property prices will go down further. They also ask themselves whether they really need to upgrade; they worry about the economy and their jobs. The bad news coming out from financial institutions in the US is a big concern,' a property agent said.

    On a more positive note, Sim Lian's Ms Kuik said: 'If you have a good product in a location where there's a pool of buyers and if your pricing is reasonable, there will be take-up.'
    if this is USA or any other country ..buyers can sue the developer for misrepresentation ....

    Are you sure the project is surrounded by greenery ? no other building in sight ??

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    I just dropped by the new showflat.

    Prices for a 4th floor, 3 bedroom is roughly above 950psf. Unit price was way above $1M.

    They are going to relaunch the project. Not sure about new prices to come.

  13. #13
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    Quote Originally Posted by KSeet
    I just dropped by the new showflat.

    Prices for a 4th floor, 3 bedroom is roughly above 950psf. Unit price was way above $1M.

    They are going to relaunch the project. Not sure about new prices to come.
    That means more than SGD 1.2Mil for a 3 bedder.......can buy penthouse at other Kovan area with this money. Why MCL land so yaya papaya with it's pricing?

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    Finally have a chance to visit this showflat today with my wife.

    The new showflat is using the actual ground storey unit for showroom purpose.

    The current pricing is approximately S$900psf. If purchase on the spot, the lady agent showing us around mentioned that we will be given a further 2% discount off the psf thus bring the pricing to S$ 882psf.

    Overall feel at the site feels kind of contemporary.....the buildings around quite old.....and with the busy Upper Serangoon road just besides the main stack, it just makes me feel extremely uncomfortable and frustrated to some extent.

    Parking provided is exactly 50 lots to match the 50 units. When questioned the lady agent where my friends and relatives visiting me supposed to park, she immediately said not an issue as not everyone is back at the same time so there will always parking lots for visitors......I was totally stunned with the answer given and just smile away.

    Bad points on this project:

    (i)The master bedroom was a real disappointment. It offered the tiniest built in wardrobes I have ever come across so far. Of course, my wife frowned a lot when she opened the wardrobe door and stare inside....not a good sign....it means the wardrobes provided is the enemy of modern women. The lady agent said we can just move the bed directly besides the bay windows and that will create additional space to build more wardrobe. She mentioned that we can tear down the wall to the other normal bedroom and build a walk-in wardrobe.

    (ii) The other 2 bedrooms are not too bad.....just that 1 of the bedroom is slightly smaller in size.

    (iii) Kitchen is very small. The workmanship seems overly "simple".

    (iv) Inadequate parking lots for visitors. Maybe visitors have to park along Upper Serangoon Road?

    (v) Personally, don't feel right at this place. Feel frustrated throughout the entire visit. Maybe due to many moving vehicles along the main road when entering the site. Do not like projects so near main road. Bad for Feng Shui.

    Good aspects:

    (i)Unique and exclusive developments with only 50 units which thus offers much privacy.

    (ii) Facilities include function room. This is rare for boutique developments. It thus offers plenty of chance to chat and network with fellow "rich" neighbours and to explore new business opportunities.

    (iii) Basement carpark. Helps to protect cars from bird shit and acid rain.

    (iv) Near to Kovan MRT. 10-12mins walk to Kovan MRT (but if rain good luck as not sheltered pavement to MRT)

    (v) Near many interesting places to feast like Chomp Chomp and Punggol Nasi Lemak.

    (vi) Masterbathroom unique. The bathtub and the large bay windows surrounding it makes it ultra cool.

  15. #15
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    don't waste time and money on this kind of project. buy at 882psf, at best value remains at this level ie no future potential.

    get a small old landed unit in the area instead.

    Quote Originally Posted by Kenshinto80
    Finally have a chance to visit this showflat today with my wife.

    The new showflat is using the actual ground storey unit for showroom purpose.

    The current pricing is approximately S$900psf. If purchase on the spot, the lady agent showing us around mentioned that we will be given a further 2% discount off the psf thus bring the pricing to S$ 882psf.

    Overall feel at the site feels kind of contemporary.....the buildings around quite old.....and with the busy Upper Serangoon road just besides the main stack, it just makes me feel extremely uncomfortable and frustrated to some extent.

    Parking provided is exactly 50 lots to match the 50 units. When questioned the lady agent where my friends and relatives visiting me supposed to park, she immediately said not an issue as not everyone is back at the same time so there will always parking lots for visitors......I was totally stunned with the answer given and just smile away.

    Bad points on this project:

    (i)The master bedroom was a real disappointment. It offered the tiniest built in wardrobes I have ever come across so far. Of course, my wife frowned a lot when she opened the wardrobe door and stare inside....not a good sign....it means the wardrobes provided is the enemy of modern women. The lady agent said we can just move the bed directly besides the bay windows and that will create additional space to build more wardrobe. She mentioned that we can tear down the wall to the other normal bedroom and build a walk-in wardrobe.

    (ii) The other 2 bedrooms are not too bad.....just that 1 of the bedroom is slightly smaller in size.

    (iii) Kitchen is very small. The workmanship seems overly "simple".

    (iv) Inadequate parking lots for visitors. Maybe visitors have to park along Upper Serangoon Road?

    (v) Personally, don't feel right at this place. Feel frustrated throughout the entire visit. Maybe due to many moving vehicles along the main road when entering the site. Do not like projects so near main road. Bad for Feng Shui.

    Good aspects:

    (i)Unique and exclusive developments with only 50 units which thus offers much privacy.

    (ii) Facilities include function room. This is rare for boutique developments. It thus offers plenty of chance to chat and network with fellow "rich" neighbours and to explore new business opportunities.

    (iii) Basement carpark. Helps to protect cars from bird shit and acid rain.

    (iv) Near to Kovan MRT. 10-12mins walk to Kovan MRT (but if rain good luck as not sheltered pavement to MRT)

    (v) Near many interesting places to feast like Chomp Chomp and Punggol Nasi Lemak.

    (vi) Masterbathroom unique. The bathtub and the large bay windows surrounding it makes it ultra cool.

  16. #16
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    Any knows how many units have been sold for this project? The URA website only listed one caveat lodged since Oct 08. Another minus point for this project is the name. Sounds like some hair salon or massage parlour to me.

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    Quote Originally Posted by fclim
    Any knows how many units have been sold for this project? The URA website only listed one caveat lodged since Oct 08. Another minus point for this project is the name. Sounds like some hair salon or massage parlour to me.
    Perhaps u can check out the figures for August sales ... got sales price leh. It appears that even before the recent re-launch, a few sales were registered.

    Yup, agree the name does sound like some salon

  18. #18
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    Thought this project was only launched about 2 weekends ago? Think could be the old development sales before it was rebuilt? But to retain the same condo name?
    BE CENTRED BY ALL AT THE FRINGE OF THE CITY @

  19. #19
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    Quote Originally Posted by sleek
    Thought this project was only launched about 2 weekends ago? Think could be the old development sales before it was rebuilt? But to retain the same condo name?
    Nope, it's relaunch ... can check tt out in URA.

    Anyway, juz verified the median price in August >> 942psf (MCL managed to sell another 4).

  20. #20
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    Wow, can't imagine why people want to pay so high for this development. Just because it is freehold?

    With just 50 units, I wonder what the maintenance fee will be like?

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