Parc Greenwich EC

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luxerio

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momoeagle said:
Own stay ok la. I did consider the possibility of getting but not making any. Solely because it's just 5 mins walk from in laws across the road.

Land lease cost is just shy of 1k psf based on my estimate.

By the time it's 10 years past launch, if land cost increases to $1400 psf, left with ~85 years lease, which means it's as good as $1630 psf, or an inflation of land costs by 63% over 10 years or average of around 6% a year.

We did achieve ~6% p.a. in the past. But whatever happens in the future is up to guess.

There are 2 potential catalyst for this EC from publicly available sources.
1) Potential MRT line and station to be announced in Masterplan 2024, though not confirmed.
2) Launching of more expensive condo at reserve site up north east.

$1.7k psf is not impossible if both above scenarios happens, at 10 year mark. Value should then drop substantially by the 20 year mark as lease decay becomes prominent.

*Anyhow say, any similarities are purely coincidental*
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for point 2, are you referring to the reserved site in between the 4 condos (lush, riverbank, rivertree and H2O)? But won't that mean that more condos = more competition and hence lower psf?
 
unclebutcher

unclebutcher

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ryanlam87 said:
I contacted sterling law firm. Was quoted 2.5k. Anybody with lower rates can share or pm me too thanks.
I wanted to have the same layout as the showflat unit (combine both common room) was told that need to pay extra 200-300) for lawyer.
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For UOB, the banker recommended sterling, capital, attorneys inc
 
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momoeagle

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luxerio said:
for point 2, are you referring to the reserved site in between the 4 condos (lush, riverbank, rivertree and H2O)? But won't that mean that more condos = more competition and hence lower psf?
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No, there's a yellow reserve site just beside PGW. There's another smaller one where the current ActiveSG gym sits on.

But the one you point out works too.

This is more for discussion and learning as I have started my learning from posts from certain individuals here, and continue to do some observations here and there.

So far as I have been observing, resale prices go up if there's a new launch nearby. This is one reason for the recent increase in the psf price of Topiary, as well as Seletar Park and Greenwich.

So ECs like Ola, may still have upside, but still slightly limited as there may not be new launches nearby to bring up its price further. I could be wrong, but it would be interesting to observe once it TOPs. However, it does have Sengkang Grand quite a distance down to help bring it up, but not really sure yet.

Ola however brought up resale prices of The Vales and Bellewaters, and likely Treasure Crest. In fact, there's a current listing of a Bellewaters 5 bedder unit at 1.1k+ psf for a unit that has not MOP for some reason. It's for sale with EC restrictions.

Also, I didn't really find much history of ECs in the past launching at psf prices more than surrounding resale condos yet. Esparina might be close, launching at <$800 psf but I was not sure of the psf of The Quartz at that time.

PGW launched higher price than surrounding resale psf, so it will be interesting to observe how things turn out here.
 
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momoeagle

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rockmillion said:
We can not comment on developer strategies, but when it come to resale, data speak.

See the most relevant neighbor EC, The Topiary south facing high floor unit selling price compared to inward facing units. South facing units are selling at higher psf compared to inward facing units. But when it was launched the difference was not much. For capital gain, south facing high floor units are good buy in PG.

My personal choice also peaceful unit compare to view but there are buyers who are ready to pay significant premium for view regardless of road noise.
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Disclaimer: Purely for discussion, with no facts to support anything for now.

Have to consider too that stack 08 is near the substation.

While underground, parking is probably around the area. And some people are sometimes concerned that unseen magnetic fields due to the electrical systems may affect health in the long run

Stack 07 is also near to the gen set and for some this is a concern.

In addition, if they are placing air con condensers above ground for the gym and village hall etc, lower floor units at stack 07 and 08 may experience slightly warmer air around the region.

Little little things that probably doesn't matter to most people, but something I consider, especially when one is willing to plonk down almost 1.5mil for the unit.

Could even go on with how feng shui on how the Topiary south facing high units might be better than PGW 3BR feng shui (due to incoming traffic from junction), but it's just things that many others don't believe in.

For the above any how reasons, for PGW, 4 bedder, I think stack 17 and 18 are best, followed by 19 and 9 in that order. 18 is a nicer number than 17.

But stack 07 11th floor to PH units looks good too.
 
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Sg_qwerty

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Anybody knows when is the estimated TOP date? The date of vacant possession is Mar 2026 but I guess the TOP might be earlier?
 
bujingyun82

bujingyun82

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Sg_qwerty said:
Anybody knows when is the estimated TOP date? The date of vacant possession is Mar 2026 but I guess the TOP might be earlier?
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With all the construction delays and snowballing, better not assume it’s pre covid where TOP can be 6-9 months faster than official.. must plan your current stay properly and not leave it to hope that it will be completed faster.

Later lao Bak sai no place to stay is worst.
 
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momoeagle

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Sg_qwerty said:
Anybody knows when is the estimated TOP date? The date of vacant possession is Mar 2026 but I guess the TOP might be earlier?
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I see it everyday since I stay just beside.

The progress from the outside doesn't look to be slowed down for now. 2026 should be good time, might be earlier I guess.
 
skpuppy

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Project NameParc Greenwich
DeveloperFernvale Lane Pte Ltd
LocationFernvale Lane
Address31, 33, 35, 37, 39, 41, 43, 45, 47 Fernvale Lane
District28
Tenure99 years leasehold
Plot Ratio2.8
Site Area17,129.90 sqm/ 184,385 sqft
Developer’s License No.C1389
Total No. of blocks9 blocks
No. of storeys14 storeys
Total No. of Units496 units
Estimated Date of Vacant Possession10 Mar 2026
Estimated Date of Legal Completion10 Mar 2029
Estimated LaunchJuly 2021
Payment ScheduleNormal/ Deferred Payment Schedule
 
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