The Terrene @ Bukit Timah (D21, 999 years leasehold, UOL / LaSalle)

[bargain hunter]

I read quite a lot of condos bought during the 1997 peak are no where near their original price, e.g. Bishan 8 was launched at $1,100psf in 1997 and is now only trading at around $800psf. But in all fairness, Bishan/Sin Ming has lost its lustre over the years. Used to be "hottest" place for property 10 years ago. I suspect it's something to do with the 99LH stigma - If one stays in Bishan apartment, you're 100% sure the place is at best a 99LH property - an area with only 99LH properties will never rise to the same level of prestige as another area dominated by FH condos - e.g. Bukit Timah (both lower and upper), Holland, West Coast or East Coast.

Upper Bukit Timah at $1,250 psf to $1,450 psf is indeed "forward" pricing. I thought it would suffer the same fate as "The Sound" and "Flamingo Valley" but looks like units are moving... strange. I'm pleasantly surprised.

to some (me included), i would favour Terrene over flamingo valley and the sound. that area of upper bukit timah quite ok. the story on the straits times hit the nail on the head for Centro Residences and The Vision. I think buyers there need to be more concerned. amusingly, the two 99 year projects highlighted were Bishan 8 and Seasons View, not surprisingly, both are far east projects LOL.

[devilplate]

to some (me included), i would favour Terrene over flamingo valley and the sound. that area of upper bukit timah quite ok. the story on the straits times hit the nail on the head for Centro Residences and The Vision. I think buyers there need to be more concerned. amusingly, the two 99 year projects highlighted were Bishan 8 and Seasons View, not surprisingly, both are far east projects LOL.

in order of preference: 1)terrene 2) FV 3)sound (even though i am a easty guy)

if buying for self stay, yday i cud hf book the 3bd PH oredi

i really pity bishan8...2cycles liao still nowhr near to 1100psf and somemore 99LH...gone case. hope my WB will not ended up like tat

[cashrich]

in order of preference: 1)terrene 2) FV 3)sound (even though i am a easty guy)

if buying for self stay, yday i cud hf book the 3bd PH oredi

i really pity bishan8...2cycles liao still nowhr near to 1100psf and somemore 99LH...gone case. hope my WB will not ended up like tat

Bishan 8 stagnant!

Original buyers are mainly from those who are rich or who have benefitted from en-block windfall...

This project is dead until it gets enblocked if ever...

[mr funny]

http://www.businesstimes.com.sg/sub/...91940,00.html?

Published July 10, 2010

Good response to new condos 368 Thomson, The Terrene

By KALPANA RASHIWALA


CITY Developments Ltd (CDL) and UOL Group seem to have struck a chord with home buyers with their latest condo previews.


368 THOMSON
CDL has sold 96 units (of the 120 released in the first phase) of the 36- storey freehold condo in District 11 at an average price of $1,350 psf

CDL has sold 96 of the 120 units released in the first phase of its 368 Thomson condo, as at 5pm yesterday. The average price is $1,350 per square foot for the 36-storey freehold condo in District 11. The project comprises 157 units. CDL said it is releasing more units progressively to cater to demand.

Over in the Toh Tuck/Jalan Jurong Kechil area, UOL released 85 units at The Terrene on the former Rainbow Gardens site and as at 10pm yesterday, had sold about 50 units. The average selling price for the five-storey, 999-year leasehold condo is about $1,250 psf. The project comprises 172 units. UOL is developing the condo jointly with LaSalle Investment Management.

Developers of both projects began sales to their respective staff/directors and former owners of the sites on Thursday, followed by previews to other buyers yesterday.

CDL said prices of 368 Thomson range, in absolute dollar quantum, from $918,000 for the 689 sq ft one-plus-study units to $4.4 million for the 3,391 sq ft, five-bedroom penthouses.

The 96 units sold include all 62 two-bedders in the development and about 12-15 one-bedders as well as one of the condo's two penthouses.

DMG & Partners analyst Brandon Lee described CDL's pricing as 'reasonable and in line with current prices in the area', given that newish projects in the area are fetching between $1,250 and $1,450 psf.

Agreeing, a seasoned property consultant noted that prices of new condos in the Newton area, which is closer to Orchard, are hovering around the $1,700-2,000 psf range.

A back-of-the-envelope calculation shows CDL stands to book pre-tax profit of about $70 million from 368 Thomson. This is the third condo the group is developing in the location. Its first, The Arte at Thomson, was previewed in March last year at an average price of $880 psf, followed by Cube 8 in January this year at $1,250 psf on average.

CDL said that about 75 per cent of buyers at 368 Thomson were Singaporeans, with the rest comprising permanent residents and other foreigners - mainly from Malaysia, Indonesia, China and Hong Kong.

'With its prime District 11 location, freehold status and attractive pricing, 368 Thomson represents an excellent investment opportunity and also good rental potential,' said CDL's group general manager Chia Ngiang Hong.

UOL and La Salle Investment Management on the other hand are targeting primarily owner-occupiers for The Terrene.

'The majority of units sold are two-bedroom apartments, followed by three bedders. Seven penthouses have also been sold,' said Knight Frank managing director (residential services) Peter Ow. Buyers mostly have addresses in the surrounding area - districts 21 (such as Upper Bukit Timah) and 23 (which includes Bukit Batok and Toh Tuck) and comprise a mix of HDB flat dwellers and private home dwellers.

'Most of the buyers are locals,' he added. The 85 units released are priced between $920 psf and $1,480 psf. Knight Frank is marketing Terrene jointly with Jones Lang LaSalle.

The project's 172 units range from one bedders (starting from 506 sq ft) to five-bedroom penthouses (up to 3,025 sq ft).

[mr funny]

http://www.straitstimes.com/Money/St...ry_551756.html

Jul 10, 2010

New Thomson condo units selling well

By Esther Teo


BUYERS have snapped up 96 of the 120 units launched at the 368 Thomson condominium since previews began on Thursday.

The District 11 development was priced at an average of $1,350 per sq ft (psf).

Sale prices ranged from $918,000 for a 689 sq ft one-plus-study flat to $4.4 million for the 3,391 sq ft five-bedroom penthouses.

The 36-storey tower, which will be built on the former Concorde Residences site in Thomson Road, will have 157 units. They comprise 31 one-plus-study flats, 62 two-bedroom units, 31 three-bedders, 31 four-bedroom units and two penthouses.

City Developments (CDL) said it will release more units to cater to demand.

The private preview - for former owners of Concorde Residences, Balestier Court and Bright Building, as well as CDL directors and staff - started on Thursday. The public were admitted yesterday.

Most of the buyers were Singaporeans, with permanent residents and foreigners - mainly from Malaysia, Indonesia, China and Hong Kong - making up 25 per cent, CDL said.

Its general manager, Mr Chia Ngiang Hong, said the strong demand for the project is testament to the popularity of the prime District 11 vicinity.

Buyers will also benefit from the growth cluster in the area, he said.

The developer launched Cube 8, a 36-storey condo comprising 177 units, in January in Thomson Road, on the site of the former The Albany and Thomson Mansion.

The Cube 8 project is next to CDL's The Arte in Thomson, which it began selling in March last year at an average price of $880 psf.

The 368 Thomson estate is expected to be completed in 2015.

Terrene at Bukit Timah has also sold well. More than 50 out of the 85 units launched at the preview sale for developers UOL and La Salle's business associates and staff were taken.

The average selling price for the 999-year leasehold condominium was $1,250 psf.

The project offers over 140 one- to four-bedroom apartments, and 30 three- to five-bedroom penthouses, all with rooftop jacuzzis.

Sizes vary from 506 sq ft for a one-bedder to 3,025 sq ft for a five-bedroom penthouse. The development is expected to be ready by April 2014.

[Regulators]

I think prices will correct after the GE. As to how many % is uncertain. If you look at China, the bubble is almost bursting. If our country can sustain that lustre in attracting foreign high level immigrants, then prices may be steady

so when u tink prices will crash and by how much...PPI will drop to wat point?

[devilplate]

I think prices will correct after the GE. As to how many % is uncertain. If you look at China, the bubble is almost bursting. If our country can sustain that lustre in attracting foreign high level immigrants, then prices may be steady

y based on GE? if any major black swan event surface tmr...prices will crash regardless b4 or after GE.

how much more do u tink ppty prices can rise from here b4 next correction?

[wesing]

Extracted from The Business Times, Monday, July 12, 2010:

UOL and LaSalle Investment Management sold a further 46 units over the weekend (as of 7 pm yesterday) at the Terrene at Bukit Timah, in addition to the 50 that they had sold as of 10 pm last Friday.

Thus far, 130 of the condo's total 172 units have been put on the market. While the initial 85 units released by Friday were priced at about $1,250 per square foot on average, the further 45 apartments offered on Saturday and Sunday were at marginally higher prices. The five-storey, 999-year leasehold condo is in the Toh Tuck/Jalan Jurong Kechil vicinity.

"We're keeping the balance 42 units for our official launch later this week, which will be tied with the start of our ad campaign. What we're most pleased about is that our penthouses and big units are still selling well. More than half of the 30 penthouses in the project have been taken up," UOL's chief operating officer Liam Wee Sin told BT yesterday evening.

"We've combined a bit of luxury with a rustic feel," he added. Prices of penthouses in the condo range from $1.7 million to $2.9 million.

Singaporeans form the majority of buyers, buying mainly for owner occupation, according to Peter Ow, managing director (residential services) at Knight Frank, one of the project's tow marketing agents.

"Demand is still there; it's only a matter of pricing. People who are walking out of the showflat without making a purchase are doing so because the price is beyong their budget," he added.

Wow! Around 74% of the launched units sold over the weekend. Mostly penhouses and bigger units somemore! May be this project could sell out before 7th lunar month

[maisonjai]

People who are walking out of the showflat without making a purchase are doing so because the price is beyong their budget," he added

wah this statement kilat sia, next time enter showflat must show bank acct. otherwise see u no up. Live up the agency's name Knight 'Frank'

[bargain hunter]

no lah, they are just trying to say everyone who goes in wants to buy.

People who are walking out of the showflat without making a purchase are doing so because the price is beyong their budget," he added

wah this statement kilat sia, next time enter showflat must show bank acct. otherwise see u no up. Live up the agency's name Knight 'Frank'

[kane]

wa pressure tactics, they make it sound like the price it is going for is a MUST HAVE...

[bargain hunter]

think they meant the product is a must have, the price is a "too bad if u dun have"

wa pressure tactics, they make it sound like the price it is going for is a MUST HAVE...

[teddybear]

ha ha ha! What a quotable quote! He means those who walk out without buying is unable to afford else they would have bought? Ya true, why a suburb property that is not exactly convenient & no full facility & so crampy so expensive at $1200-1400 psf? (units looking at each other so close directly - should we call them "public properties" rather than "private properties" since no privacy at all?)
Could we put it in another way: Those who bought this price at this location must be .

People who are walking out of the showflat without making a purchase are doing so because the price is beyong their budget," he added

wah this statement kilat sia, next time enter showflat must show bank acct. otherwise see u no up. Live up the agency's name Knight 'Frank'

[kane]

think they meant the product is a must have, the price is a "too bad if u dun have"

well, everything has a price. when the price excedes the buyer's assigned value to the product, the buyer doesn't buy. simple logic.

i'm sure chelsea garden and avalon was promoted as a must have in those days and the people who viewed it definitely had the money... but for those who walked away, they made one of the better decisions in their investment lifetime.

[jencrs]

People who are walking out of the showflat without making a purchase are doing so because the price is beyong their budget," he added

Hahahah I'm going to say that to the agent when I walk out of the showrm. Wah see showrm also must kenna stressed cuz they will see me no up if I don't buy.

[mr funny]

http://www.businesstimes.com.sg/sub/...94358,00.html?

Published July 12, 2010

Demand for new CityDev, UOL condos

By KALPANA RASHIWALA


(SINGAPORE) UOL Group and City Developments Ltd (CDL) continued to sell units over the weekend at their new condos released last week.


Good take-up: CDL has sold another 32 units at its 368 Thomson (above) up to 6 pm yesterday, taking total sales to 128 units

UOL and LaSalle Investment Management sold a further 46 units over the weekend (as of 7 pm yesterday) at The Terrene at Bukit Timah, in addition to the 50 that they had sold as of 10 pm last Friday.

Thus far, 130 of the condo's total 172 units have been put on the market. While the initial 85 units released by Friday were priced at about $1,250 per square foot on average, the further 45 apartments offered on Saturday and Sunday were at marginally higher prices. The five-storey, 999-year leasehold condo is in the Toh Tuck/Jalan Jurong Kechil vicinity.

'We're keeping the balance 42 units for our official launch later this week, which will be tied with the start of our ad campaign. What we're most pleased about is that our penthouses and big units are still selling well. More than half of the 30 penthouses in the project have been taken up,' UOL's chief operating officer Liam Wee Sin told BT yesterday evening.

'We've combined a bit of luxury with a rustic feel,' he added. Prices of penthouses in the condo range from $1.7 million to $2.9 million.

Singaporeans form the majority of buyers, buying mainly for owner occupation, according to Peter Ow, managing director (residential services) at Knight Frank, one of the project's two marketing agents.

'Demand is still there; it's only a matter of pricing. People who are walking out of the showflat without making a purchase are doing so because the price is beyond their budget,' he added.

CDL sold another 32 units at its 368 Thomson up to 6 pm yesterday, taking total sales to 128 units. Last Friday, the group said, it had sold 96 of the 120 units released initially in the 157-unit freehold condo, which will be 36 storeys high.

Yesterday, a CDL spokeswoman said that the group released the remaining 37 units progressively over the weekend at a marginal price increase of 2-3 per cent from the initial average selling price of $1,350 per square foot.

'The majority of the 32 units we sold over the weekend were one-plus-study units. We also sold three and four bedders,' she added.

Singaporeans made up 75 per cent of the 128 units sold at the District 11 condo.

The next project CDL plans to release is likely to be a 642-unit, joint venture condo in Pasir Ris located next to the fully-sold Livia. 'It is planned for release in phases in Q3 2010,' she added.

[maisonjai]

Hahahah I'm going to say that to the agent when I walk out of the showrm. Wah see showrm also must kenna stressed cuz they will see me no up if I don't buy.

u may tell them the price tag not big enough for ur budget.
Be our white Knight against mr Frank. yeee haaar

[Regulators]

Beyond budget does not mean cannot afford. A project can be beyond a buyer's budget coz the buyer set a limited budget for that locality and is only prepared to pay that much for that area. I wouldnt pay that kind of money for Terrene or any other new project in this market coz developers are future pricing their projects. Dorsett Residence which has yet to be launched is one good example of a ridiculously priced project in this market...if i am not wrong a 4xxsf unit is going for 9xxk and the project is only 99yr

Extracted from The Business Times, Monday, July 12, 2010:
Demand is still there; it's only a matter of pricing. People who are walking out of the showflat without making a purchase are doing so because the price is beyong their budget," he added.

Wow! Around 74% of the launched units sold over the weekend. Mostly penhouses and bigger units somemore! May be this project could sell out before 7th lunar month

[amk]

...units looking at each other so close directly ...no privacy at all?

that's what I thought also. so near. at most 10m apart between the blocks (or even less?)

can't believe it sells so well. practically no facilities. gym has to be at basement.

btw a Q to those who have visited, is the intercomm audio/video or audio only ?

[sleek]

More than 100 units of Terrene at Bukit Timah sold
By Janice Teo | Posted: 15 July 2010 2049 hrs



SINGAPORE : Property developer UOL Group has sold more than 100 units of its latest condominium project, Terrene at Bukit Timah.

This is almost 80 per cent of the 130 units released at a private preview which started on July 8.

UOL will be releasing the remaining 42 units for the official launch on Friday.

The 999-year leasehold condominium is a 50-50 joint venture between UOL and La Salle Asia Investment Management.

The apartments are priced at an average of S$1,250 per square foot for a typical unit.

They range from S$719,000 for a one-bedroom unit to S$2.79 million for a five-bedroom penthouse.

UOL said 23 of the 30 penthouse units have been sold.

Demand came mainly from Singaporean buyers, with majority from private homes in the nearby vicinity.

The five-storey development of 172 units, stretches across more than 130,000 square feet near the Bukit Timah Nature Reserve.

The development is expected to be ready by April 2014. - CNA /ls

[devilplate]

23 out of 30 PH SOLD! impressive! glad tat others aso like the PHs

[kane]

looks like july is turning out to be a strong month. maybe 1000 units.

[Mongoose]

i went to look look see see earlier today.
all the PHs gone, but a lot of space taken by balcony/open roof terrace.
at current price, i can't bring myself to buy... ok lah, i can't afford to buy.

the showflat is totally open concept, with just the change in the flooring to demarcate the "location" of the wall. even the rooms don't have proper windows or bay windows, just open straight into patio which doesn't exist in the real unit.

i think developers are really pushing the limit here in trying to be "creative" in showing how big the units are. soon we will see totally wall-less showflats...

[scsc]

i went to look look see see earlier today.
all the PHs gone, but a lot of space taken by balcony/open roof terrace.
at current price, i can't bring myself to buy... ok lah, i can't afford to buy.

the showflat is totally open concept, with just the change in the flooring to demarcate the "location" of the wall. even the rooms don't have proper windows or bay windows, just open straight into patio which doesn't exist in the real unit.

i think developers are really pushing the limit here in trying to be "creative" in showing how big the units are. soon we will see totally wall-less showflats...

"open concept" ?? sounds like playing mind games...

try having models reading newspaper in the loo or sleeping in the couch or swimming in a imaginary "laser-assisted" pool, etc... at least these are realistic simulation than having a "no wall" showroom...

[bargain hunter]

sure more than 1000 units one.

looks like july is turning out to be a strong month. maybe 1000 units.

[devilplate]

i went to look look see see earlier today.
all the PHs gone, but a lot of space taken by balcony/open roof terrace.
at current price, i can't bring myself to buy... ok lah, i can't afford to buy.

PH all gone?! WOW

tat time i was surprised tat smallest 3bedder PH still available! nrly wana book liao...but calm down and tell myself 1kpsf for PH really too high ...now even bigger PH r gone

[cashrich]

this one got higher chance of higher plot ratio in future.

[devilplate]

this one got higher chance of higher plot ratio in future.

really?

tot the suites de laurel got higher chance....railway track removed and mabe got chance for ura to up plot ratio...anyway purely my guess

[acewee]

Audio only intercomm. Today left 10 units.

that's what I thought also. so near. at most 10m apart between the blocks (or even less?)

can't believe it sells so well. practically no facilities. gym has to be at basement.

btw a Q to those who have visited, is the intercomm audio/video or audio only ?

[devilplate]

Audio only intercomm. Today left 10 units.

wow...developer up the price and make buyers gancheong to bite?