Clementi Ridges review part 1: Location and prices
This super highly anticipated BTO in Clementi is sure to draw in the crowds if it had a showflat like you see in those condo launches. Located right next to Trivelis DBSS, Clementi Ridges already looks to be a better deal than its more glamourous cousin. Let us take a look at this soaring 37 to 40-storey development comprising of 684 3-, 4- and 5-room standard flats.
Do we need to tell you how good this place is? For those unfamiliar with this part of Singapore, let us enlighten you. Within a 10 minute walk, residents of Clementi Ridges get access to Clementi MRT, Clementi Mall, the sprawling Clementi neighbourhood centre with its plethora of shops, eateries and more. This is no trick of your imagination ladies and gentlemen, HDB is releasing a BTO within walking distance to an MRT in a popular mature estate. What more can you ask for?
Not only that, there's also the Ulu Pandan Park connector 300m north of the BTO. It's one of the most scenic places in Singapore thanks to the beautiful Sungei Ulu Pandan. Having been there ourselves, the area is lush and green and it's a great place for early morning walks. High floor units in Clementi Ridges overlooking the older 12-storey blocks to its north will get an excellent view - more on that in the next article.
There is one only issue - that of Clementi Ave 6 to its west. That's a very busy road which connects two major expressways - AYE and PIE. It could get very noisy if you get units too close to the road - we'll cover more on that in the next article as well.
This is the part that's not so good folks. Clementi Ridges doesn't come cheap. What did you expect huh? Prices in Clementi are crazy at the moment. The 4-room flats in Clementi Ridges start from $438k to $576k for a 93sqm unit while the 5-room flats range from $550k to $679k for a 110sqm unit.
The other popular BTO in Clementi - Casa Clementi - had 4-room flats going from $450k to $512k back during the Sale of Balance Flats last year. The price premium Clementi Ridges commands reflects its better location.
HDB resale flats around the area range from $475k -$675k for 4-room flats. 5-room resale units range from $650-$765k. So based on this figures, residents could be looking at potentially a $100k 'profit' when the time comes to sell.
You might say Clementi Ridges is too expensive, but if you compare it with its next door neighbour Trivelis DBSS, you are getting a bargain! 4-room flats at Trivelis were selling from
$530k to $650k. Note that they are 10sqm SMALLER than the BTO and they come with balconies. Can you imagine how small the bedrooms will be?
DBSS - R.I.P.?
Though some might argue that DBSS isn't the same as BTO due to its superior finishing and design. The question is: are those worth the $80k-100k premium? Clearly not. When the time comes to sell, they will face stiff competition from this BTO for sure.
What about the Sale of Balance Flats in Clementi?
Between going for Clementi Ridges and the Sale of Balance Flats in Clementi, we'd say your chances are pretty slim for both. There aren't that many units left in the Clementi SOBF (only eighteen 4-room flats and three 5-room flats). And while there are 684 units in Clementi Ridges, the response will be very strong. At the time of writing, the 3/4-rooms in the Clementi SOBF are 11.2 times oversubscribed while Clementi Ridges' 4-room units are 4.5 times oversubscribed.
You are facing some stiff competition (but still not as bad as last year where some BTOs are 15 times over). All we can say is good luck!
Info and Images: HDB.
Posted on 02-04-2012 15:40 | By John
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