WanderVale EC Official Launch :: New Executive Condominium 600m from Choa Chu Kang MRT Station :: By Sim Lian Group . Singapore
Wandervale Prices . Comparative Market Analysis
Indicative pricing as of 2 March 2016 for Wandervale prices is around $750 to $770 PSF.
So how does this compare to the market?
Wandervale Prices · Comparison with Rainforest EC next door
Perhaps the nearest comparison is with the executive condominium next door – The Rainforest.
Rainforest launched in early 2012 (4 years ago) at roughly between $700 to $800 PSF, varying with the facing and floor level.
It sold out within a year.
Subsequently, as it neared completion, a few units were returned, and re-sold by the developer.
(This typically happens near the TOP date of an EC project, when some who had bought under the fiancé-fiancee scheme, decide not to get married and so become ineligible to take possession of their purchased unit. In such cases, they have to return the unit to the developer for resale under the EC housing rules.)
The 3 most recent such cases are shown here:
Most Recent Rainforest EC Developer Prices . Click to Enlarge
In summary, the most recent sales at Rainforest EC next door were at:
. $867 PSF (high floor road-facing unit)
. $929 PSF (high floor pool-facing unit)
. $600 PSF (low floor penthouse with around half its 2109 sq ft in open roof terrace & balcony)
This represents what the market was prepared to pay for a newly completed EC unit at this location. (Note of course, that Rainforest is about 1 minute nearer to the Choa Chu Kang MRT station & Lot One.)
In comparison, the Wandervale prices at around $750 to $770 PSF average, do look like a reasonable entry point, with potential for gain.
WANDERVALE EC PRICES · SHOWFLAT VIEWINGS · REGISTRATION OF INTEREST
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OTHER DEVELOPER LAUNCHES
Parc Esta is the new condominium arising on the site of the former HUDC project Eunosville, that was snapped up by MCL Land in a collective sale by the owners. It is one of the best located new developments, that promises to excite a fair bit of interest.
Firstly, it is almost directly on the doorstep of Eunos MRT station, which makes it just a couple of minutes walk. Secondly, Parc Esta is being built by MCL Land, a very reputable local developer with a solid track record of delivering quality projects.
Because Parc Esta will be a humongous project, comprising 1,399 units. It is rare to find a plot of land of this size in a mature neighbourhood that is so close to the CBD. You can expect a lot of facilities on this land size of over 375,000 sq ft.
Furthermore the location of Parc Esta is a bare 1 km up the road from Paya Lebar Quarter and Paya Lebar Square. These projects are part of the ongoing redevelopment and rejuvenation of Paya Lebar under the URA 2014 master plan to develop this into a major regional hub, that will include office towers, hotels, shopping malls, and homes.
In response to that vision, Park Place Residences that was launched for sale last year 2017, saw a very enthusiastic response. It exceeded price expectations from analysts, to achieve pricing of around $1,800 to $2,000 PSF average, that was easily 40% above the resale market in the area.
Will Parc Esta aim for that kind of pricing? It is looking unlikely. For one thing, Parc Esta is much bigger, and has a lot more units to clear. For another, Eunos MRT station is not Paya Lebar MRT interchange station. While it is equally close to the development, it is not sheltered access. Also, there is the impact of the recent July cooling measures to contend with. So market talk is placing Parc Esta pricing at around the $1,750 PSF range.
If you think this project appeals to you, do contact us to arrange a viewing of the Parc Esta showflat, that looks likely to open for VIP Preview in October 2018. We have units ranging from one bedroom, to 5 bedrooms.
Forest Wood Condo . New condominium launching @ Upper Serangoon . By City Developments & Hong Leong . 4 minutes walk to NEX Mall & 3 minutes walk to MRT Station. Register for Forest Woods showflat viewing & VIP Preview