Wandervale EC Price · Latest Price Update
The detailed Wandervale EC price list is now available. Exact pricing was only finalised and released a couple of days before the actual booking date itself.
Average pricing is around $750 PSF.
This makes it the cheapest EC within walking distance of an MRT station in recent years.
It also compares favourably with the $770 to $780 PSF average for the launch of Sol Acres, the only other EC in Choa Chu Kang. Sol Acres is not within walking distance of an MRT station.
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Wandervale EC Price · Land Price
The tender for this new CCK EC site surprised the market with higher-than-expected bids in tough competition among 8 bidders.
Analysts said the bids reflected its location within walking distance of the Choa Chu Kang MRT station and Lot One Shopping Centre.
Sim Lian’s winning bid was just 2.5% higher than the next highest bid of $353 psf ppr, from a JV of Hoi Hup Realty, Sunway Developments & Oriental Worldwide.
City Developments came in third with a bid of $197 million, or $343 psf ppr, just 5% lower than the winning bid.
“The number of bids and close winning margin indicate healthy interest in the EC market, despite current market conditions,” said Mr Desmond Sim, research head at CBRE.
According to Mr Ong Teck Hui, national director of research and consultancy at Jones Lang LaSalle, the tender results were still “realistic”.
Wandervale EC Price · Estimate Cost Calculations October 2015
Sim Lian Group’s offer of $207.4 million for the Wandervale EC site works out to $361 per sq ft (psf) per plot ratio (ppr). Assuming construction cost of around $380 PSF, breakeven could be around $740 PSF.
Based on the above estimates, it might translate into an approximate Wandervale EC pricing of about $780 PSF average. Smaller units, and those on higher floors with views, especially of the greenery in front of the site, would command a higher pricing. But those on lower floors facing Choa Chu Kang Drive could likely be around $7xx PSF.
The bid price reflects the expected popularity of this new CCK EC site. Especially as there are fewer executive condominiums being built in west Singapore, compared to the east and north, much less one so close to both an MRT station and shopping mall.
In fact there are not that many new launches in the west of Singapore, compared to the east and north-east. The few private launches coming up in 2020 include just One North Eden, and the Clavon, besides Parc Clematis that launched in 2019. As for executive condos, there are none altogether. The upcoming ones are mainly concentrated in the Tampines, Punggol / Sengkang, and Sembawang areas. Hence we expect both One-North Eden near One-North Gateway, and the Clavon to garner good response, on the face of pent-up demand. Of the two, One North Eden is expected to prove the more popular. The One-North Eden floor plans will likely be available only at the end of 2020, or possibly early 2021.
THE WANDERVALE EC PRICE · E-APPLICATION · SHOWFLAT VIEWING
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