Siglap V @ Siglap Road - Launching Soon

[Reporter]

Siglap V has more tiny Freehold Studios
H88
Monday, 11 January 2010, 09:00




Overview

Siglap V in District 15 is the latest development to join in the 2010 Singapore property launch party and offers what everyone can't get enough of: "mickey mouse" units just 366 sqft / 34 sqm in price size.

The project sits on Freehold land and is a residential development with shops (eateries?) on the first level. The famous Siglap Centre (Cold Storage, McDonald's) is just across the road, with plenty of eateries around.

Tenure: Freehold
Estimated TOP: 2014
Floors: 4
Units: 114 total, Studio, 1+Study, 2BR, 2+Study, Penthouses, Commercial shops on first level
Typical Sizes:
Studio (~366 - 495 sqft)
1+Study (~517 - 603 sqft)
2BR (~689 sqft)
2+Study (~732 sqft)
Penthouse (~775 - 1,453 sqft)


Location

The location of Siglap V.


Siglap V roughly superimposed on Google satellite maps (for rough illustration purpose only).


If you are still confused about the location, we are pretty sure you can tell just with a glance of the Googlestreet image above.


Facilities


Nice artist impression of the rooftop pool and what seems like the gym.

Facilities:

• Swimming Pool (Lap pool?)
• Gym

Layouts


Some samples of the draft studio layouts. There are some with pretty interesting and angular layouts.


More draft samples, with a regular 2BR unit. Also, notice how they managed to squeeze in 38 stacks?


A mini Holland Village?


Another artist impression of Siglap V's courtyard.


Stunning artist impression of Siglap V in the sunset ...

Prices are estimated to start from $6XXk and we are sure there are plenty of District 15 fans out there that are already eyeballing it, given its prominent location with plenty of eateries around. The area reminds us of a mini Holland Village ...

[sleek]

Those units facing the pool will have no privacy.

And looks like all the other developments between East Coast Road & ECP will be demolished in the future, so that Siglap V can have this Sunset view.

[xebay11]

Those units facing the pool will have no privacy.

And looks like all the other developments between East Coast Road & ECP will be demolished in the future, so that Siglap V can have this Sunset view.

Ha Ha you are so absolutely right about the beautiful sunset views

As for the bedroom privacy no wonder more and more couples got no children.

[zimmer]

not really, can be quite exciting. Tint the window with one-way tint then you can make spaghetti while looking out but ppl can't look in.

[Douk]

Ha Ha you are so absolutely right about the beautiful sunset views

As for the bedroom privacy no wonder more and more couples got no children.

that is sun rise.

[sleek]

that is sun rise.

Another false advertising points!

[jlrx]

Those units facing the pool will have no privacy.

And looks like all the other developments between East Coast Road & ECP will be demolished in the future, so that Siglap V can have this Sunset view.

that is sun rise.

That can't be a sunset or sunrise.

Sunsets are in the west and sunrises are in east.

That glow of light is in the southern sky.

The only possibility has already been raised by sleek.

Those units facing the pool will have no privacy.

And looks like all the other developments between East Coast Road & ECP will be demolished in the future, so that Siglap V can have this Sunset view.

[DKSG]

Any real data to share with us ?

How many cheques collected ?

Or how many units sold ?

When is the sales starting ... I think this development has got potential for sell out within days ...

Unknown to many, prices in the east has quietly crept up ...
Just yesterday, witnessed a friend purchase a developer unit in the east, the developer actually up the price by 3 percent from the week before ...

And guess what ? There are people buying it at the new price ...

If u are eyeing something from developer, better keep tab of their price movements ... buy right before they raise the price .. and u make some margin immediately ...

[Laguna]

Any real data to share with us ?

Unknown to many, prices in the east has quietly crept up ...
Just yesterday, witnessed a friend purchase a developer unit in the east, the developer actually up the price by 3 percent from the week before ...

...

which project
I was told Siglap is balloting today at $1500

[xebay11]

Any real data to share with us ?

How many cheques collected ?

Or how many units sold ?

When is the sales starting ... I think this development has got potential for sell out within days ...

Unknown to many, prices in the east has quietly crept up ...
Just yesterday, witnessed a friend purchase a developer unit in the east, the developer actually up the price by 3 percent from the week before ...

And guess what ? There are people buying it at the new price ...

If u are eyeing something from developer, better keep tab of their price movements ... buy right before they raise the price .. and u make some margin immediately ...

They smart, raise by only 3%, that means earlier buyers still cannot compete with them, as 3% only covers stamp duty.

[smallant]

hearing small units more like at 1600 psf !

[Reporter]

$1,634 psf and 44% sold are surely good news for low-profile new-launch like Siglap V.


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
Siglap V .......... RCR ........ 50 ........................ 50 .../..................... 1,634 ........... 1,508 ........... 1,152

[Reporter]

Unit in leafy Siglap sold at $1,634 psf
Boutique Siglap V development raises eyebrows with high median prices
Emilyn Yap
The Business Times
Friday, 19 February 2010

Few would associate the leafy suburbs of Siglap with lofty property prices.
But at least one unit at a boutique development there has been sold for $1,634 psf – an eye-popping psf price for a project that isn’t located centrally.

The freehold development at East Coast Road, Siglap V, also achieved a high median price of $1,508 psf across 50 units sold in January. This is according to Urban Redevelopment Authority (URA) data.

Properties located some distance from town, or in the Outside Central Region (OCR), usually command prices below $1,000 psf.

But the hefty psf price tag at Siglap V has not deterred buyers because most of the apartments are relatively small. The 114 units available include 1-bedders starting from 366 sqft in size and 1-bedroom plus study units starting from 463 sqft.

This means that the absolute price of a small unit would be fairly modest. Assuming that a 366 sqft 1-bedder went for $1,634 psf, the buyer would have to fork out some $598,000.

‘The psf price may raise eyebrows but if you look at the total quantum, it’s very affordable,’ said Cushman & Wakefield Singapore managing director Donald Han.

A Huttons senior marketing associate Edmond Pak added that Siglap V’s location is a selling point. It is next to Siglap Centre and is near schools, cafes and other amenities.

From his experience marketing the project, Mr Pak observed that many buyers were interested in the 1-bedroom units as investments. He also noted that several buyers are residents of landed properties in the area.

Developers have launched more shoebox apartments since early 2009 in a bid to keep overall prices attractive amid uncertain times. And the formula has worked to some extent. The 72-unit Suites@Guillemard for example, was sold out even though some units measured just 258 sqft.

‘That’s where the market niche is for some of these developers with smaller land parcels,’ Mr Han said. The projects have smaller units and may not offer a full range of facilities, but they allow people to own a private address ‘at a fraction of the cost’.

Siglap V is not the only project in OCR with a high psf price tag.

In July last year, the 99-year leasehold Centro Residences at Ang Mo Kio made headlines for prices crossing $1,100 psf. According to URA, 7 units there changed hands at $1,164-$1,233 psf last month.

Nearer Siglap V, buyers paid $883-$1,538 psf for 5 units at Elliot at the East Coast last month. Units at this freehold project are typically larger than those at Siglap V.

[Reporter]

$1,634 psf and 44% sold are surely good news for low-profile new-launch like Siglap V.


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
Siglap V .......... OCR ........ 50 ........................ 50 ......................... 1,634 ........... 1,508 ........... 1,152

Sorry! My bad!
Siglap V should be OCR - not RCR.

[Reporter]

Budget Debate
Let market forces decide prices and sizes of homes
The Straits Times
Tuesday, 9 March 2010

Should the Government do something about ‘Mickey Mouse-size’ apartments that are all the rage now?

No, said National Development Minister Mah Bow Tan yesterday, reiterating that market forces should continue to determine the prices and sizes of homes that will be developed.

He was responding to concerns raised by Dr Amy Khor (Hong Kah GRC) about the proliferation of such small units in Singapore.

‘Profit-maximising developers want to push psf prices of every unit up,’ she noted.

‘The way to do so without hurting sales is to reduce unit sizes to make them more affordable on a lump sum basis.’

She also warned that such high psf prices could influence buyers in the highly sentiment-driven market and give the perception that property prices are experiencing steep price rises.

She gave the example of Siglap V, a new development comprising small units in the east, where headline prices hit $1,634 psf recently.

There is no market data on the number of these small apartments, but some projects such as Suites@Guillemard have offered units as small as 258 sqft.

In response, Mr Mah said that ‘beyond ensuring market stability, we should let market forces determine prices and the type of unit sizes that will be developed’.

But he agreed that headline prices of these units ‘are indeed misleading’, and suggested that ‘we do more to educate consumers not to take such headlines at face value’.

[dragonred]

Blowing bubbles in the air, or smoke up someone's a#$.

[proud owner]

2 days ago a friend from singapore , who is a property virgin .. asked for my opinion in this Siglap V project ..


when i saw the floor plan he emailed me .. i was like OMG !!!!


the unit size is a turn off
the unit shape is a turn off
the location is a turn off
the shops downstairs will be a turn off to residents upstairs
the traffic noise at the junction, the 'stench' from the shops (if sell food) are a turn off ..

my reply to him was : look else where ..

out of curiousity, how many units sold to date ? Or
how many units left unsold ?

[finder]

Mind share why the location is a turn off? Tks.

[Squall8888]

I think the location is not bad. But it is a grave sin to pay 1.6 or 1.7k psf in OCR. But of course, like 2008/2009 downturn, fair and actual value will set in during the next downturn.

Anyway, the site is pathetically small and is right at the cross junction. And it doesn't even have decent facilities. I don't know what those 44% buyers are thinking. Maybe to flip to another idiot.

[proud owner]

Mind share why the location is a turn off? Tks.

like what Squall8888 said

its cramp ..

unit odd shape

to me, being located at the junction is going to be both noisy and dusty .. considering its a low rise .. one cannot escape the noise ..

and it is the first junction from ECP exit .. alot of cars ..

some may find it ok .. but personally i dont want to live or buy a place where i have to close my windows all the time ..

also no view ..

so Squal8888 only 44 pct sold ??

[Reporter]

Private Residential Units Sold in the Month of March 2010
Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Siglap V .......... OCR ........ 58 ........................ 8 ........................... 1,535 ........... 1,470 ........... 1,292