Tampilkan postingan dengan label seastrand. Tampilkan semua postingan
Tampilkan postingan dengan label seastrand. Tampilkan semua postingan

Sabtu, 10 Desember 2011

Discounts galore from developers post-ABSD...


Developers are already offering packages on homes to offset the stiff new stamp duty measures that came into effect only two days ago.

Far East Organization is offering a 5% relief package to affected buyers at all of its already-launched projects.

It will reimburse buyers 3% of the unit price to offset the new stamp duty. Buyers will also get a furniture voucher worth 2% of the flat price.

They will get the voucher only after putting down a 30% deposit if the project has not been completed.

The package applies across the board to Singaporeans, permanent residents (PRs) and foreigners, so foreigners will still be worse off after the new measures.

Far East's already-launched projects have another discount that differs between properties.

Prices of units at its Seastrand project in Pasir Ris Drive 3 are discounted by up to14%, making the cheapest unit an estimated $937psf. But with only three- and four-bedroom units left and the smallest three-bedder at 1,109sqft, the minimum purchase now would cost about $1.04 million before stamp duty.

With an additional 10% buyer's stamp duty for foreigners of $104,000 now, Far East's relief package would help a buyer save almost $52,000 - about $30,000 initially and the rest subsequently.

However, a Far East agent said that unofficially the discount rate could go up to 16% of the original unit price. This means buyers can negotiate a 21% discount off the original total price by combining the uniform 5% cut with the discount that applies to the Seastrand.

This would more than offset the extra stamp duty incurred, although it is believed that the discount applies on a case-by-case basis.

Far East has not announced a dateline for its relief package but the agent said it could last until the end of this month.

The Seastrand's temporary occupation permit (TOP) is expected on Dec 31, 2016.

Wing Tai's luxury Helios Residences at Cairnhill Circle is also offering a relief package, said a company sales agent.

Buyers will get a cash rebate of up to 2% of the total price upon payment. That goes up to 2.5% at the start of the second year of occupation and 3% at the start of the third year.

They will not be allowed to sell their unit for three years following purchase.

The smaller units can cost around $4.2 million, said the agent, adding that the relief package is meant to help "lessen the burden" on customers.

The agent said the deal is only applicable to Helios Residences, as its target market is foreigners, who are more likely to be affected by the stamp duty imposition, but did not specify a deadline. Helios Residences obtained its TOP on Jan 28.

Sales agents at Keppel Land, UOL and CapitaLand did not know of any discount packages being offered.

Real estate agents at DWG, DTZ and Huttons also said their firms were not offering discount packages, but some said they might be able to negotiate an additional 1% cash rebate.
Source: The Straits Times

Given the partial/full absorption of ABSD by developers through the additional discounts that they are giving on their projects, the latest property measure is looking increasingly like a transfer of wealth from developers to our Government...
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Selasa, 23 Agustus 2011

Seastrand (Review)

Project Name:   Seastrand
Tenure:   99-year leasehold w.e.f 3rd Jan 2011
Location:   Pasir Ris Link
District:   18
Site Area:   215,281sqft
TOP (estimated):   31st Dec 2016
Total Units:   473 apartments + 2 commercial shop units
No. of Blocks/Storey:   10 (7 Block of 11-Storey and 3 Blocks of 12-Storey)
Car Park Lots:   473
Developer:   Far East Organization/Fraser Centrepoint Homes

The wife and I visited the sales gallery of Seastrand over the weekend. This is the latest project jointly developed by Far East/Fraser Centrepoint located in Pasir Ris. The two developers are also responsible for the “Waterfront Collections” along Bedok Reservoir Road.

Seastrand is located on a huge plot of land of about 215,000sqft at the intersection between Pasir Ris Drive 3 and Pasir Ris Drive 4. The main entrance, however, will be on Pasir Ris Link – this is a new road that will be built specially for the project.

The 99-year leasehold project has a total of 473 apartments spread across 10 blocks. It offers a mix of 1 – 4 Bedroom unit types:
• 1-Bedroom (159 units):   581 – 663sqft
• 2-Bedroom (113 units):   914/1001sqft
• 3-Bedroom Compact (98 units):   1133 – 1241sqft
• 3-Bedroom (83 units):   1195 – 1300sqft
• 4-Bedroom Compact (20 units):   1321sqft

A unique feature of Seastrand is that there are no penthouses, while the 4-bedder compacts are effectively 3+Study units.

Facility wise, Seastrand offers everything that one will come to expect from a full-facility condo (tennis court inclusive) and then some. The facilities are spread over the ground level as well as on the 3rd floor, i.e. the rooftop of the multi-storey carpark that wraps around the project. Of particular note are the Water and Strand Villas alongside the Strand Pool – these are outdoor function areas that come with their own Jacuzzis.

Parking lots are available within the 3 levels (basement, 1st and 2nd) of multi-storey parking, which forms an u-shape around Towers A – H. This allows residents to access their vehicles directly from their blocks, which is especially helpful during rainy days. The only exception is Tower J, which is not connected to the multi-storey carpark. Residents here will probably have to make do with “open air” surface parking that is located below their block.

There are three showflats in the sales gallery, showcasing the 1-, 2- and 3-bedroom units. We shall focus on the 1195sqft, 3-bedroom apartment (Type C1b).

However, do note that the floor plan below is NOT that of Type C1b – we were unable to obtain the floor plan for this unit type during our visit. We have included the floor plan for Type Cc1b instead, which is actually the 3-Bedroom Compact with the same layout as Type C1b. The only differences are that for Type Cc1b, Bedroom 3 is smaller and there is no bathroom in the yard area.

As you enter the main door, the dry/wet kitchen is on your left. A dining table that sits 6 (barely) is incorporated into the dry kitchen area, which is actually quite a good idea as it frees up space in the living area.

The wet kitchen (more like the typical kitchen to us, since the so-called “dry kitchen” is not exactly a kitchen per se) is L-shaped and comes with nice solid surfaced worktop, full set (top/bottom) of kitchen cabinets and even a dish drying rack. The developers have also thrown in Delizia hood/hob, Ariston Oven and Microwave and Samsung fridge for good measures.

The yard has barely enough space for laundry, but we quite like the idea of having a wash basin here – this will come in handy for items that need “hand washing”. The washing machine cum dryer (provided) is tucked nicely beneath the kitchen worktop, which frees up space in the yard. A large window provides ample natural lighting and ventilation to the yard area, which also houses the home shelter and a bathroom.

And speaking of home shelter, this is a small rectangular strip of an area, which means that you probably need to customize the bed if you intend to use this as the maid’s room. Another option is a “pull down” bed as illustrated in the showflat. The home shelter is fully enclosed so your maid will have to leave the door open to avoid suffocation while sleeping.

The living/dining area is rectangular shaped and of decent size (relative to the apartment size). It comes with 2.9m ceiling height (3.15m for ground floor units) and for flooring, you have a choice of “warm” theme (60cm x 30cm marble slabs in darker beige colour) or “cool” theme (60cm x 60cm porcelain tiles in lighter beige colour).

The balcony is also rectangular in shape and rather sizable (we reckon 100sqft). Some will probably like the idea of a huge balcony area but we felt it’s a tad… extravagant, considering that the whole apartment is not even 1,200sqft.

The two common bedrooms come with timber-strip floors and full-height (ground to ceiling) windows. The absence of bay windows is a definite plus. We were told that both the bedrooms are of similar size but Bedroom 3 somehow looked smaller than Bedroom 2.



The common bathroom is good size and actually has marble floors/walls, which is a pleasant surprise (considering the “norm” these days with ceramic tiles). It also comes with Newform (Italian) bathroom and Vera (origin unknown) toilet fittings.

The surprise package of the apartment must surely be the master bedroom. The room is huge – we were told that the bed inside the showflat is an "European King", which is actually bigger than the typical King-sized bed. And yet the room still felt quite spacious even with the bigger bed. We also like the layout of the wardrobe in the master bedroom – you get a L-shaped wardrobe that separates the bedroom area from the attached bathroom, with a “walk-in wardrobe” feel.



The master bathroom is again quite spacious and almost an exact replica of the common bathroom in terms of look and feel. But it comes with a “sunken” bath and rain-shower. We were told that buyers can have the option of either solid or glass-partition walls for this bathroom.



Seastrand has started selling for about 2 months now and we understand that more than 50% of the units have been sold. Units in Towers C, E and G are fully sold and if you are looking at the 3-bedders, only 3 units (Tower B) are left amongst the units that have been launched. The good news is that there will be more 3-bedder (Tower J) and 3-bedroom compact (Towers D1 & D2) units launching soon, but supposedly at slightly higher psf. Then again, with the market circumstances as it is, it remains to be seen if the developers will actually increase prices for subsequent releases.

Price wise, the price for the remaining 3-bedders are about $990psf. The unit on the 4th floor of Tower B (#04-06) costs $1,413,260 after discount. In addition, developers are also giving away a further discount of 1% in furniture vouchers for selected “Star Buy” units. But the vouchers will only be given upon TOP of the project.

Monthly maintenance charges for the 3- and 4-bedders are about $320, which we feel is at the higher end of the scale for a supposed mass-market project.

What we like:
• The quality of furnishing and fittings are definitely more appealing compared to some of the other “mass market” condos that we have seen recently, and is more akin to those that we have come to expect with Far East projects.

Seastrand is located fairly close to neighbourhood amenities (think minmarts, coffee shops etc) located within the HDB estate across the road, and yet it is not “surrounded” by HDB flats so to speak. It is also within walking distance to Downtown East, where you find a NTUC and all kinds of F&B outlets.

• For those who enjoy greeneries and the sea, Seastrand is about a 7- 10 minutes’ walk to Pasir Ris Park and the beach.

• Parents who need to put their kids into primary schools will be pleased to know that there are several to choose from that's within 1-km of Seastrand – Casuarina Primary, Loyang Primary, Pasir Ris Primary and Coral Primary (maybe?).

What we dislike:
Seastrand is supposedly 2 bus-stops (or 3-mins drive) from Pasir Ris MRT station and bus terminal at White Sands Mall. But should you decide to walk it, you may find that it is actually quite some distance away. Consolation is that for the first two years at least, there will be dedicated shuttle-buses from the condo to White Sands & Ikea/Carrefour.

• We reckon that the main road (Pasir Ris Drive 3) leading out to the ECP/PIE will be rather congested especially during the rush hours.

• The plot of land next to Seastrand was recently acquired by MCL Land and will be developed into another private condo project in due course. In addition, the plot of land directly across from Seastrand (where the sales gallery currently stands) is probably slated to be sold for private housing development as well. So depending on how soon building works of these future projects get underway, buyers of Seastrand may have to be prepared to live near a multiple construction sites for awhile.

Our Verdict: The wife and I have nothing really negative to say about Seastrand, except probably the location (too far, which is again subjective). You are certainly getting value for money in the “quality” department, as compared to, say, Woodshaven. It is definitely a project we will consider, should we decide to move to Pasir Ris.

Having say that, a quick check on recent transacted prices at nearby Eastvale – a 13-year-old EC built by CapitaLand that is now fully privatised – reveal that units of 1,100 – 1,200sqft were sold at less than $750psf. And the wife and I actually think that Eastvale is the better located of the two projects (and much nearer to the MRT too!).

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Selasa, 09 Agustus 2011

New project sales status: Boathouse Residences & SeaStrand

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Boathouse Residences
Boathouse Residences, a 99-year leasehold private condo at Upper Serangoon View which was released last Friday by Frasers Centrepoint, Sekisui House and Far East Organization, saw about 90 units sold by yesterday. About 80% of the units were bought by Singaporeans, with the rest taken up by permanent residents and other foreigners.

The average price is $880psf. The cheapest unit is a 624sqft one-bedder on the second floor, at $570,000. The developers have released 200 of the total 493 apartments in the project.

As a comparison, when Frasers and Far East released Eight Courtyards in Yishun in April, they sold about 202 units in the first four days - Friday to Monday. The 99-year leasehold homes were priced at an average of $795psf.

However, Frasers Centrepoint Homes CEO Cheang Kok Kheong says the sales result for Boathouse Residences is not too far off another project the group released more recently - Seastrand condo in Pasir Ris, with 103 units sold in four days during its preview in June.

Mr Cheang said that while the turnout at the Boathouse Residences showflat was " very good", buyers are now taking a longer time to make a decision.

"Four months ago, during our Eight Courtyards launch, buyers took about 45 minutes to make a decision. Now, they probably require 60 - 90 minutes," he added. " With more uncertainty and cautiousness, they're thinking twice, maybe three times, to relook the whole thing - their finances and their needs. Those who were previously looking at purchasing a four-bedroom apartment may now settle for a three-bedder, for instance."

Boathouse Residences comprises one and two-bedroom SOHO-concept apartments housed in two 15-storey blocks and two, three and four-bedroom apartments in four 18-storey blocks.

The SOHO-style apartments have a higher-than-usual floor-to-ceiling height of 3.35 metres, allowing residents to enjoy a bigger volume of space. They come with a furniture platform that may serve as a library, storage area or cosy corner. The one and two-bedders are priced from $880psf to $1,040psf, while the three- and four-bedroom apartments cost about $800-930psf.

Seastrand
And speaking of Seastrand, Far East and Frasers Centrepoint found buyers for nine more units last week, taking total sales for the 99-year leasehold project in Pasir Ris to 239 units. To date, 269 units have been released in the 475-unit condo. Seastrand's average price has risen from $877psf when the development was initially released in June to $924psf currently.
Source: The Business Times

The wife and I reckon that Singapore must be one of only a handful of countries around the world whereby home buyers take only hours to make purchasing decisions that will cost them in excess of half a million dollars. Maybe we are procrastinators, as it took us more than a week just to decide on buying that new laptop which costed $2,000.

However, we wonder if the recent "blood bath" seen in the worldwide stock markets (the DOW just dropped a whopping 600 points last night!) will put paid to such phenomenon... at least for the short to middle term.

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Senin, 01 Agustus 2011

New projects sales status: euHabitat, Seastrand, Woddhaven etc


It has been some weeks since we last reported on the sales status of recently launched projects, as there was a lack of info released - maybe due to slower than normal sales take-up (?)

euHabitat
Far East Organization is said to have sold over 150 units at euHabitat, a 99-year leasehold private residential project at Jalan Eunos.

It began previewing the five-storey project last week and is understood to have released over 200 of the project’s total 748 units so far. The development includes 51 four-bedroom townhouses, 223 one- and two-bedroom Soho-styled units, and 160 one-bedroom suites. The remaining units are one to four-bedroom apartments.

The suites are in separate towers from the apartments.

The average prices in the development range from about $800psf to slightly over $1,000psf – depending on the housing form.

Far East is developing euHabitat on a site next to Pan Island Expressway clinched by the group’s units Tuas Technology park and OPH Marymount at a state tender in September last year, for $414.57psf ppr. They paid 26.55 more than the next highest offer of $327.76psf ppr. The tender drew five bids.

Seastrand
Over in Pasir Ris, where Far East is developing Seastrand condo with Frasers Centrepoint, 232 units have been sold to date. The developers have released 269 of the total 475 units in the project, which is priced on average at $895psf. The 99-year leasehold project was released for sale in June.

Woodhaven
Far East has also sold 202 units at Woodhaven condo in the Woodlands area. To date 242 of the development’s 337 units have been released. The average price is $957psf and the 99-year leasehold project has started selling since June.

Jool Suites
In the shoebox apartment category, Jool Suites at Sing Joo Walk behind Tessensohn Road, was previewed last week. About 18 units are said to have been sold so far. About half of the 52-unit freehold project has been released; the average price is about $1,500psf. One-bedroom units are around 388-484sqft, while two bedders are about 624sqft.

The development is in the vicinity of Farrer Park MRT Station and Connexion, a 20-storey development that will include a hospital, medical centre and hotel.

Source: The Business Times

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