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Thread: $3,000 psf price seen at Parkview Eclat

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    Default $3,000 psf price seen at Parkview Eclat

    Property
    Published February 13, 2007

    $3,000 psf price seen at Parkview Eclat

    By ARTHUR SIM


    CHYAU Fwu Group has unveiled plans for its upcoming super-luxury condominium on Grange Road, called Parkview Eclat, with prices expected to be around $3,000 per square foot (psf).



    Unit sizes at the upcoming Parkview Eclat (above) start at 3,000 sq ft with the penthouse topping 10,000 sq ft


    Construction costs will be $500-$600 psf for Chyau Fwu, which owns the Art Deco-inspired office building Parkview Square at Bugis. This is almost double the industry average construction costs of $300 psf.

    Eddie Chow, a senior executive at Chyau Fwu, said that none of the units has yet been sold, as a sales licence has not yet been received.

    Prices have not been confirmed either, but Mr Chow said that Chyau Fwu was comfortable with the projected $3,000 psf price for super-luxury condominiums, adding that the group 'is not in a hurry to sell'.

    The most expensive feature in each of the 35 'limited edition' units will be the private 3m by 8m pool on the balcony.

    Unit sizes start at 3,000 square feet with the penthouse topping 10,000 sq ft.

    As with Parkview Square, Parkview Eclat is designed by James Adams, best known for his designs for Forum Casino at Ceasars Palace, MGM Grand Casino in Detroit and Galaxy Casino and Resort in Macau. However, being a residential development, Parkview Eclat will be more subdued.

    Mr Adams said: 'Respect for subtlety is important.'

    On pricing, recent caveats lodged reveal that average prices for super-luxury developments are still below $3,000 psf. St Regis Residences did complete another sale at $3,050 psf in December 2006 but the average price for units in that month was $2,672 psf.

    Vincent Chong, director (residential) at Colliers International, said: 'With the latest launch of The Beaufort at Nassim already hitting $3,200 psf, we feel that it is possible for the good units in Parkview Eclat to achieve $3,000 psf.'

    Vivian Sze, assistant general manager of HKR International, developer of Beaufort at Nassim, says it has already sold 12 units and the average selling price is $2,600-$2,700 psf.

    Savills Singapore director of marketing and business development Ku Swee Yong believes Parkview Eclat may not achieve an average launch price of $3,000 psf, but reckons instead that the upcoming Orchard Turn could - because 'they already have enough people who want to buy'.

    Also on Orchard Turn, Tay Huey Ying, director (research and consultancy) at Colliers, said: 'If the project is launched while market optimism is still high and buying frenzy is still very much alive, the average launch price for Orchard Turn could possibly reach $3,000 psf and the penthouses or units on the high floors could even hit $3,500 psf and above.'

  2. #2
    ryan
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    Default HK-based developer aims for new price high

    13 February 07 The Straits Times

    by Joyce Teo, Property Correspondent

    [SIZE="5"]HK-based developer aims for new price high [/SIZE]




    AS PROPERTY developers continue to set new benchmarks in Singapore's red-hot luxury market, niche Hong Kong-based developer Chyau Fwu Group is looking to set another.

    It aims to sell the 10,000 sq ft double-storey penthouse at its luxury residential development Parkview Eclat in Grange Road for up to $4,000 per sq ft (psf).

    The penthouse will have an outdoor swimming pool, a spiral staircase as well as two garden terraces - on top of other luxury features and fittings.

    While prices have not been fixed, the group aims to sell the other 34 relatively large units for an average of $3,000 psf, said its senior executive, Mr Eddie Chow.

    Property consultants have projected that prices in Singapore's luxury homes market could reach or cross $4,000 psf, but only by the end of the decade.

    Chyau Fwu expects to launch this project in Indonesia in March, before taking it to Singapore and Hong Kong.

    Singapore's luxury property market only started to surge in the past six months, said Mr Chow, who added: 'There's still room to grow.'

    He said the company's optimism is driven by Singapore's strong economic growth, the influx of wealth and more foreign firms setting up base here.

    At Parkview Eclat, all units will have unobstructed views and access to a concierge service, he said. They will also have features such as an emergency button that alerts the security downstairs.

    'These would be the details that the super rich look forward to,' said Mr Chow.

    The 21-storey freehold project has 32 three- to four-bedroom units ranging from 3,000 sq ft to 3,400 sq ft.

    Another two are duplex units at 5,300 sq ft.

    All 35 units feature an infinity edge spa pool in 3m by 8m balconies and a private elevator lobby.

    Mr Chow said the firm may spend between $500 psf and $600 psf on construction, including $8 million to $9 million for the building's stone cladding - unusual for a residential project here.

    The art deco building is designed by United States-based designer James Adams, who also created Parkview Square, an art deco office building in the Bugis area.

    Chyau Fwu has achieved rents of $8 psf for Parkview Square, up from $7 psf at the end of last year.

  3. #3
    chockcai
    Guest

    Default Re: $3,000 psf price seen at Parkview Eclat

    中国人购买的世界第一豪宅(组图) 2007-02-17



    [点击查看大图]


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    伦敦西南郊这座为UPDOWN COURT的豪华私宅近日引起了英国,乃至世界媒体的注意。它被称为英国19世纪后建造的最重要的私人住宅,要价 1.3亿美元,荣登福布斯房地产排名榜榜首。这个世界上最昂贵的私人住宅配有高技术程控设备,应急避难室、可加热的大理石车道,直升机停机坪。






    [点击查看大图]



    图为豪宅外观


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