Parc Greenwich EC

[SG SUPERMAN]

Project Name	Parc Greenwich
Developer	Fernvale Lane Pte Ltd
Location	Fernvale Lane
Address	31, 33, 35, 37, 39, 41, 43, 45, 47 Fernvale Lane
District	28
Tenure	99 years leasehold
Plot Ratio	2.8
Site Area	17,129.90 sqm/ 184,385 sqft
Developer’s License No.	C1389
Total No. of blocks	9 blocks
No. of storeys	14 storeys
Total No. of Units	496 units
Estimated Date of Vacant Possession	10 Mar 2026
Estimated Date of Legal Completion	10 Mar 2029
Estimated Launch	July 2021
Payment Schedule	Normal/ Deferred Payment Schedule

What is estimated date of vacant possession? Is it the same as TOP date? My friend wanted to buy but 2016 so long she abit turn off

 

[pippo20]

Impossible la. Lol! Ola already 2024. This one the foundation not even done

Thought ec can only start launch when foundation is completed??? If so, 2024 is possible.

 

[drpanda]

Impossible la. Lol! Ola already 2024. This one the foundation not even done

might be possible since the highest floor is 14. hmm

 

[raceke]

curious, why this condo 65% sold so fast?

 

[NiShiZhu]

curious, why this condo 65% sold so fast?

Now Seller’s market mah. Demand more than supply. Almost everything can sell nowadays.

 

[Senayan]

curious, why this condo 65% sold so fast?

need to see the context. this project only have 496 units . 65% means only 322 units. another project PArc central sold 59% but that projecythas 700 units which work out to be 414 units sold. dont be mislead by all the hoohaa

its like some developer have 500 units, they release 100 units for selling during phase 1 soft launch, after 75 units are sold, the newspaper advertise big big 75% SOLD!

 

[nottin]

Stay positive.
Even though I didn't buy

Wah. 1 of the most affordable these days and you no buy ? Edit* just saw is due to primary school for your kid

Anyway you retire already right ? Just nice can go try bto twice if have not. Free money just by buy and sell

 

[jerryl]

They are building using prefab. I am just sharing what developer committed in recent press release, "is slated to achieve temporary occupation permit in 2024."

Source: https://www.straitstimes.com/business/property/parc-greenwich-ec-sells-65-of-units-on-launch-weekend

Prefab one thing good there is no or very less drywall within the unit and shorter in construction time

 

[GalacticA]

curious, why this condo 65% sold so fast?

Not that fast compared to hundred palms ec which launched in 2018 and sold out on launch day.

 

[Passerboy]

curious, why this condo 65% sold so fast?

This one ain’t fast alr. Pasir Ris 8 is the epic fast over 80% on day one and both Pasir Ris 8 and Parc Greenwich are of comparable size and units.

 

[Skywalker19777]

What is estimated date of vacant possession? Is it the same as TOP date? My friend wanted to buy but 2016 so long she abit turn off

Anyone buy and sign the OTP? The date on the OTP is the most accurate

 

[fluxos]

curious, why this condo 65% sold so fast?

Sales could have been much faster, but many 2nd timers could not buy after the 2nd timer quota was filled in the early afternoon of launch day. Can't compare any EC sales to private (etc; Pasir Ris 8). There are so many quota and restrictions before one is eligible to buy an EC.

Launch day buyers are already enjoying 3% paper profits as prices were hiked.

Plenty of upside for this EC, just to list a few:
1) Potential new MRT nearby with LTA feasibility study underway and with details to be announced very soon in Q3/Q4 2021. Some say will take until 2040 to be ready, but I suspect the line might already be partially opened in early 2030.
2) North-South corridor to ease traffic along CTE.
3) Many plots of land zoned for private residential around the area yet to be sold.
4) Transformation nearby and in the NE of Singapore etc; Seletar, Punggol Digital District, Lentor, Buangkok
5) Directly across the road from Greenwich V, a small mall (enrichment classes, cold storage, toast box) and 8mins-10mins walk to Seletar Mall (cinema, Din Tai Foong).

 

[ypurple]

The only thing is that not convinent for non-driver.
I am considering to buy 4 bedded in PG vs Ola. Can expert offer some advice? Thanks

 

[skpuppy]

The only thing is that not convinent for non-driver.
I am considering to buy 4 bedded in PG vs Ola. Can expert offer some advice? Thanks

See what u need:
(1) need super fast: go Piermont, Ola, then Parc Greenwich
(2) want mrt: Piermont, Ola
(3) hope got new mrt station: Parc Greenwich (some say new mrt station is nearby)
(4) need bigger place: Ola, Piermont then Parc Greenwich
(5) want lower quantum: Parc followed by Ola then Piermont
(6) want atas neighbours, Parc followed by Ola then Piermont
(7) want good school - Ola
(8) want hospital - Ola
(9) want atas chandelier- Ola
(10) want reputable developer - Piermont then Parc then Ola
(11) want good school - Ola then Piermont then Parc
(12) nearer to town by car - Parc then Ola then Piermont

 

[skpuppy]

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*

Can enlighten me how you know got mrt station nearby?

 

[Falafell]

Can enlighten me how you know got mrt station nearby?

you can search “future mrt feasibility study”. It was announced under LTMP2040 in 2019. Remember, it is only at feasibility study stage, not announced.

https://www.channelnewsasia.com/singapore/lta-master-plan-transport-new-rail-line-880986https://blog.sgtrains.com/2021/05/upcoming-mrt-lines-and-extensions-from-2021/I shared this in another thread many months back.

 

[MitsuyaCider]

The only thing is that not convinent for non-driver.
I am considering to buy 4 bedded in PG vs Ola. Can expert offer some advice? Thanks

Actually depend on which MRT line you want to go.
PG has direct bus to NS line stations (AMK, YCK) and circle line stations (Serangoon) from the buses along yck road.
Ola is closer to Sengkang MRT (NE line) by taking the LRT

 

[Falafell]

Sales could have been much faster, but many 2nd timers could not buy after the 2nd timer quota was filled in the early afternoon of launch day. Can't compare any EC sales to private (etc; Pasir Ris 8). There are so many quota and restrictions before one is eligible to buy an EC.

Launch day buyers are already enjoying 3% paper profits as prices were hiked.

Plenty of upside for this EC, just to list a few:
1) Potential new MRT nearby with LTA feasibility study underway and with details to be announced very soon in Q3/Q4 2021. Some say will take until 2040 to be ready, but I suspect the line might already be partially opened in early 2030.
2) North-South corridor to ease traffic along CTE.
3) Many plots of land zoned for private residential around the area yet to be sold.
4) Transformation nearby and in the NE of Singapore etc; Seletar, Punggol Digital District, Lentor, Buangkok
5) Directly across the road from Greenwich V, a small mall (enrichment classes, cold storage, toast box) and 8mins-10mins walk to Seletar Mall (cinema, Din Tai Foong).

Indeed, PGW sales were good, congrats to all buyers once again! It is common for projects to increase price at certain sales percentage checkpoint (ie. 30/60), which PGW was able to achieve in a single day.

The rumoured new MRT line has a very high chance to have a new station within 300m to PGW if confirmed and the announcement itself will definitely be a price catalyst for the fernvale properties.
My prediction is that the new MRT station will be integrated with the commercial+residential plot beside Jalan Kayu.

One possible risk is PGW’s 1200 psf average is very close to that of many nearby PC’s psf, especially HPR at 1267 psf, which TOP in 2019. If PGW’s average at 1200 psf hope to see healthy profits, it must sell at 1400-1500 psf, which will mean that PGW being an EC will need to overtake the nearby PCs (HPR, H20, The Greenwich, Riverbank, Rivertree, Lush Acres etc), but it is still notable that PGW will definitely have a lease advantage.

 

[fluxos]

Notice how the new line (unconfirmed) is slightly left of the SK LRT network? The line path cross Parc Greenwich exactly. Appropriate names for that station West Seng Kang or Greenwich.

Official map by LTA:

LTA Master Plan, page 17:
https://www.lta.gov.sg/content/dam/...aster_plan_2040/pdf/LTA LTMP 2040 eReport.pdf

 

[bujingyun82]

This is 2040 master plan and possibly beyond.. how many of you all still staying at PGW after 2040?