Initial Phase Of Trevista Condo Going At $898 PSF On Average

Source : The Business Times, August 28 2009

This is about 20 per cent lower than Centro Residences, priced at $1,150 psf on average

NTUC Choice Homes Co-operative is pricing the initial phase of its Trevista condo at Toa Payoh, which previews today, at an average price of $898 per square foot. This is about 20 per cent lower than Far East Organization's Centro Residences next to Ang Mo Kio Hub, priced at $1,150 psf on average and released last month.

Centro Residences by Far East Organization is priced lower than NTUC Choice Homes’ Trevista condo. – Far East Organization

However, as Trevista's units are generally larger than Centro's, the price differential in absolute terms may be less.

Far East has sold only about 100 units - an outcome some market watchers see as due to price resistance.

Both projects are on 99-year leasehold.

Trevista is near Braddell MRT Station and within walking distance of shopping and other amenities at HDB Hub and Toa Payoh Central. Centro, a 34-storey project with 329 units, is right next to Ang Mo Kio Hub and opposite Ang Mo Kio MRT Station.

The $898 psf and $1,150 psf average prices for the two projects are for normal progress payment schemes. Buyers who opt for the interest absorption scheme will pay 2 per cent more at Trevista and 4 per cent more at Centro. So far, none of Centro's buyers has opted for interest absorption.

NTUC Choice Homes said yesterday that the absolute price quantums at Trevista on average are about $830,000 for a two-bedroom unit, $1.065 million for a three-bedder, and $1.43 million for a four-bedroom apartment, on a normal progress payment scheme.

The developer is releasing 210 units this weekend, comprising mostly two, three and four-bedroom apartments. The project has a total of 590 units in three 39-storey towers.

Choice Homes has invited business associates, NTUC union members and members of the public who have registered interest in the project for today's preview. The co-op is extending special benefits to union members for a 'limited period during the preview'.

Each member who buys a Trevista unit will be given 55,000 LinkPoints as well as one of three other benefits, each worth up to $6,000 - a free NTUC Income Mortgage Protection Plan; an integrated fridge; or a family cash rebate for union members living near their parents or children residing in Toa Payoh or for multiple family-purchases of units.

Trevista is being marketed by CB Richard Ellis and ERA.

Over in the Mount Sinai area, Singapore Land is previewing its freehold Trizon condo this weekend at between $1,300 and $1,500 psf. However, prices are likely to be lower for ground-floor units with private enclosed space.

SingLand is offering only a normal progress payment scheme. It is developing the 24-storey condo, which will have 289 units, on the former Himiko Court site that it bought in May 2007 for $336 million. This works out to $821 psf of potential gross floor area, including an estimated $1.07 million development charge.

职总大巴窑公寓 平均尺价未过千

Source : 《联合早报》August 28, 2009

备受瞩目的大巴窑共管公寓Trevista，售价定得比市场原本预期来得低，平均尺价不但不超过千元，而且还低于900元。

职总安居(NTUC Choice Homes)昨天宣布，将这个99年地契共管公寓的平均尺价定在898元。它将在这个周末的预售活动中，推出首210个单位供买家选购。

Trevista将在这个周末的预售活动中，推出首210个单位供买家选购。

对于这个定价，一些市场人士猜测，职总安居是否为了尽其社会责任，而特意将平均售价压低下来？

职总安居总裁吴莉莉昨天说：“我们认为这是个物有所值的定价，也是一个人们负担得起的价格(accessible pricing)。至于销售反应就让市场来决定吧！”

一名ERA产业经纪告诉记者，她的同行已经在过去几个星期收到了许多空白支票，因此她相信今天的示范单位将会“爆满”，场面也会非常“混乱”。她透露，她也在几天前收到一张空白支票，客户愿意出百多万元来预订一间两卧房式单位。

公众要明天才能参观示范单位

Trevista的预售活动将在今天下午2时优先开放示范单位给工会和基层领袖参观，3时则开放给职总会员，以及事先向房屋经纪登记的买家进场。一般公众要等到明天才能够参观示范单位。

位于大巴窑2巷和3巷之间的Trevista共管公寓，相当靠近布莱德地铁站，共有590个单位。它最近受到市场的高度瞩目，主要是因为许多市场人士相当关切，职总安居会怎么为这个市郊的99年地契共管公寓定价？

大巴窑已经十年没有新的共管公寓推出，再加上两个地铁站以外的中景峰(Centro @ Ang Mo Kio)，最近以每平方英尺1150元“起跳”，创下历来邻里组屋区99年地契共管公寓的新高，令人咋舌，所以不少人关注，这个“地点大众化”的邻里共管公寓，尺价是否一点也不大众化？

在这之前，房屋经纪开给买家的指示价格，一直都在每平方英尺大约1100元左右，一些小型单位的价格甚至叫到每平方英尺1200元。

不过，本报一个多星期前的一篇评论曾指出，全国职工总会在1995年11月创立职总安居的目的，是为新加坡人提供他们负担得起，而且物有所值的房子，因此，职总安居或许会为了其社会使命，而故意压低Trevista的价格，以不超过每平方英尺1000元来发售这个项目。

根据职总安居昨天发表的文告，Trevista的两卧房式单位平均售价大约是83万元，三卧房式单位的平均售价大约是106万5000元，四卧房式单位的平均售价则是143万元。

Trevista两卧房式单位面积介于861至1249平方英尺；三卧房式单位面积介于1098至1615平方英尺；四卧房式单位的面积介于1561至2002平方英尺。

一名潜在买家（胡小姐，33岁）说：“照这个价钱来看，两卧房式单位的尺价大多应该是在960元左右，尺价在900元以下的应该是阳台比较大的单位。这个价钱虽然比我原本想象中低，不过也不便宜。”

一些读者之前也向本报反映，职总身为一家非牟利机构，实在不应该希望赚取暴利，以千元以上的尺价来发售Trevista。

本报之前的评论指出，如果职总安居以每平方英尺1100元来推出Trevista，将能赚取1亿5000万元的暴利。这是因为一些分析员估计，职总安居在这个项目的成本大约是容积率每平方英尺800元。

昨天，相关人士表示，由于Trevista的楼高达39层，停车场又建在地下，所以建筑成本会比一般共管公寓来得高，并不只每平方英尺800元，而是较接近每平方英尺850元。

职总安居这次将Trevista的实际推出价格，定在每平方英尺平均898元，远远低于市场预测，估计盈利应该是在两三千万元左右。