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30-07-2012, 07:58 AM
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The Straits Times
www.straitstimes.com
Published on Jul 30, 2012
'Good value' Loyang draws home buyers
By Amanda Tan
DESPITE being in the far-flung area of Loyang and not close to an MRT station or other amenities, home buyers are turning to the area for its value for money.
New launches around Flora Drive, including Palm Isles and Parc Olympia, for instance, are averaging between $820 per sq ft (psf) and $880 psf.
That is markedly cheaper than homes in nearby Pasir Ris, which has more amenities, experts said. Pasir Ris' Ripple Bay and The Palette - both also 99-year leasehold projects - were both sold at an average of $900 psf.
Koh Brothers' Parc Olympia has moved over 180 out of 234 units released since its launch a fortnight ago. One-bedders at the 486-unit condominium start at $440,000.
Frasers Centrepoint's Palm Isles is around 70 per cent sold; one-bedders start from $530,000.
The 99-year leasehold Hedges Park, developed by Tripartite Developers - a joint venture between Hong Leong Holdings, City Developments and TID, is more than 75 per cent sold, with an average selling price of $880 psf.
A 1,001 sq ft three-bedder, for example, is going for $840,000.
The Gale is fully sold, after hitting the market in 2009.
In all, more than 2,570 new units are set to be built in the Flora Drive area in the next few years, bringing the total tally of homes there to more than 5,000, said Mr Lee Sze Teck, Dennis Wee Group's senior manager of research and consultancy.
He said the area is dominated by Tripartite Developers, which has launched projects every few years from 1993, starting with Azalea Park.
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The Straits Times
www.straitstimes.com
Published on Jul 30, 2012
'Good value' Loyang draws home buyers
By Amanda Tan
DESPITE being in the far-flung area of Loyang and not close to an MRT station or other amenities, home buyers are turning to the area for its value for money.
New launches around Flora Drive, including Palm Isles and Parc Olympia, for instance, are averaging between $820 per sq ft (psf) and $880 psf.
That is markedly cheaper than homes in nearby Pasir Ris, which has more amenities, experts said. Pasir Ris' Ripple Bay and The Palette - both also 99-year leasehold projects - were both sold at an average of $900 psf.
Koh Brothers' Parc Olympia has moved over 180 out of 234 units released since its launch a fortnight ago. One-bedders at the 486-unit condominium start at $440,000.
Frasers Centrepoint's Palm Isles is around 70 per cent sold; one-bedders start from $530,000.
The 99-year leasehold Hedges Park, developed by Tripartite Developers - a joint venture between Hong Leong Holdings, City Developments and TID, is more than 75 per cent sold, with an average selling price of $880 psf.
A 1,001 sq ft three-bedder, for example, is going for $840,000.
The Gale is fully sold, after hitting the market in 2009.
In all, more than 2,570 new units are set to be built in the Flora Drive area in the next few years, bringing the total tally of homes there to more than 5,000, said Mr Lee Sze Teck, Dennis Wee Group's senior manager of research and consultancy.
He said the area is dominated by Tripartite Developers, which has launched projects every few years from 1993, starting with Azalea Park.
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