Exclusive: Sneak peek at The Vision
The much-awaited West Coast condo - The Vision - has opened it's doors!
We have an exclusive sneak peek at the showroom as well as the all
important - PRICE! [Many thanks to our contributor S.C. Lee]Well, it wasn't as crowded as Yishun's The Estuary, but units were selling rather well. Just take a look at this (slightly-blurry) chart, most of the top floor units released were already sold. We think there's a bit of a demand for condos in the West.
Sales Chart
Lot of red stickers.
The developers - Hong Kong's Cheung Kong Property Development - have decided to play the "lux" card with the finishing (marble floors) and the price (see below), which is quite surprising given that they bought this piece of land at a very low price back in May 2008. Kudos to them for excellent launch timing given the festive-buying climate we have seen in early 2010. The developers are, after all from the land of property - Hong Kong.
Here are some quick condo details:
District: 5
Tenure: 99yrs
Estimated TOP: Mid 2013
Floors: 33
Units: 295 total, 2BR (93), 3BR (154), 4BR (32), PH (2), Strata House (14)
Typical Sizes:
2BR (853, 954, 949 sqft)
3BR (1304- 2200 sqft)
4BR (1641 - 2365 sqft)
Penthouse (2773 sqft)
Strata Houses (4467 - 4855 sqft)
Is condo mania here again?
View of from 25th floor of Blk 717 Clementi West St 2 (Facing East)
The Vision site and Blue Horizon in the background.
View from 8th floor of Blk 716 (Facing South)
West Coast park is the green you see. To your bottom right is the industrial area and the shipyard.
Here's the all important price:
You have heard right. Prices are going for around $1,100 psf on average for the condo units. The landed units are moving at about $600psf.
904sqft 2BR units are selling in the range of $1,120 - $1,260psf, taking the total quantum to just over the $1m mark. A 1,259sqft 3BR is going for about $1,050psf, or about $1.3m.
So that's waaaay past the initial estimate of $750 - 800psf. This is no mass market unit!
Seeing that the developers bought the plot for about $305 psf ppr, they are making a very sizable profit here!
Looking at next door's Blue Horizon (2005, 99-year), URA caveats in Feb 2010 showed prices at an average of $797 psf. The Vision is asking for a good $300 psf more.
First thoughts
This pricing is rather ambitious for a 99-year condo in the West don't you think? IR or no IR, this is neither Caribbean at Keppel Bay nor Reflections at Keppel, this essentially is a condo in Clementi.
Look to our review soon! In the meantime, give us your thoughts.
[Special thanks to H88 contributor S.C. Lee for showroom pics!]
Posted on 12-03-2010 17:50 | By John
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