Penrose Sims Villa

[ahminmin]

Hihi! Am very new to the property scene in Singapore, though I have been secretly enjoying reading the advice by NiShiZhu and newbie1993 as a non-member of this forum hahahaha Am considering to take a look at the upcoming Penrose project at Aljunied, and will like to know what do you guys think about this project and if it will be worth purchasing (likely for own stay I'm not sure yet)?

Thanks!

 

[kiatme]

Your news very updated.. officially not announced yet but you got the name liao..
https://www.cdlhomes.com.sg/upcoming-launches <-- CDL never even list them yet..

The question is :
What are your considerations in determining if the condo is worth purchasing ?

Bought at land price - 732 PSF, just around 50 more than their neighbor sims urban, it will be worth it if they sell it at 1.4-1.5k PSF.

 

[ahminmin]

Hahaha ya a friend told me about Sims Villa before (he ended up buying Jadescape lol but I don't really like big projects) so I went to read up abit and found out that they changed the name to Penrose.

Hmmm... like good area for staying, but at the same if I want to sell it in say 5-10 years' time wouldn't really lose money? I checked SRX and saw that a lot of people seem to be selling their Sims Urban Oasis units and that seems abit scary hahah.

 

[SunnyCasa]

If they price it below $1500psf, will be selling like hot cake lor!
But I notice that Sims Urban Oasis resale unit already sold beyond that $1500psf leh...

Your news very updated.. officially not announced yet but you got the name liao..
https://www.cdlhomes.com.sg/upcoming-launches <-- CDL never even list them yet..

The question is :
What are your considerations in determining if the condo is worth purchasing ?

Bought at land price - 732 PSF, just around 50 more than their neighbor sims urban, it will be worth it if they sell it at 1.4-1.5k PSF.

 

[Passerboy]

If they price it below $1500psf, will be selling like hot cake lor!
But I notice that Sims Urban Oasis resale unit already sold beyond that $1500psf leh...

Penrose by CDL and lesser units compared to SUO. If the developer prices it below $1500psf I guess the response would be red hot like the M, the only gripe is it’s proximity to aljunied mrt is pretty unshelthered.

SUO smaller units are transacting $1700psf too, w very decent volume.

 

[SunnyCasa]

That’s why lor. May be one of us here is from developer... haha

Penrose by CDL and lesser units compared to SUO. If the developer prices it below $1500psf I guess the response would be red hot like the M, the only gripe is it’s proximity to aljunied mrt is pretty unshelthered.

SUO smaller units are transacting $1700psf too, w very decent volume.

 

[Fattyboiboi]

I'm looking forward to this project as well. Given SUO 2BR currently marketing at abt $1600psf, I assume similar 2br at penrose will launch at similar pricing or slightly higher

 

[daheigou999]

I'm looking forward to this project as well. Given SUO 2BR currently marketing at abt $1600psf, I assume similar 2br at penrose will launch at similar pricing or slightly higher

If Penrose eventually launch at 1.7k psf average, how should we compare against Antares? (similar old neighbourhood, but with direct MRT)

 

[Passerboy]

If Penrose eventually launch at 1.7k psf average, how should we compare against Antares? (similar old neighbourhood, but with direct MRT)

I doubt Penrose would launch at 1700psf (avg psf) in current market, closer to 15xxpsf- 16xx psf perhaps. SUO only smaller units are at 17xx psf and I believe Antares and Penrose locale is different too. Antares locale is slightly better I guess given its sheltered to MRT?

Heard it’s gg to launch in May2020, still some time away, to see the market flactuation.

 

[propertyinvestor40]

For now, all the ec like ola piermont already 1100-1200psf
With the M going at 2300psf and Sengkang grand 1800psf.
Penrose which is a RCR , 400 metres from aljunied mrt. one stop away PLQ.
Should be around 1600-1700 psf. With investors and buyers aiming this already.
This plot should be highly sought after by many.
Similar Parc Esta which is one stop away from PLQ is also at 1600-1700, however aljunied is closer to city/Bugis compare to parc esta.

 

[kiatme]

Land bid price won was 732 psf. Break even for this project is ~ 1250psf approx.

If we follow market trend of 2018/2019, most developers price their price 150-300psf more than the break even price. By 1500psf they should be making a hefty profit already, but it doesn't make sense they will price it so low.

If they price it at 16xx-17xx psf, given the market now it sure still looks attractive, but there is this risk that if the market is not doing well they can offer discounts or lower the price to 15xx psf.

Do you want to take that risk ?

 

[Passerboy]

Land bid price won was 732 psf. Break even for this project is ~ 1250psf approx.

If we follow market trend of 2018/2019, most developers price their price 150-300psf more than the break even price. By 1500psf they should be making a hefty profit already, but it doesn't make sense they will price it so low.

If they price it at 16xx-17xx psf, given the market now it sure still looks attractive, but there is this risk that if the market is not doing well they can offer discounts or lower the price to 15xx psf.

Do you want to take that risk ?

Which would come first?
Penrose or the Pasir Ris GLS site?
I think they would take guidance from the pasir ris site

 

[kiatme]

I am currently staying in pasir ris, from last year june i've been seeing facebook ads on Pasir Ris mix development already, a lot of agents wasting money blasting ads to secure leads

Looking at the time land was sold, Pasir ris (won in march), Sims Villa(won in april) - i would say Pasir Ris, but then again it depends on BCA/LTA etc their design and approval (most likely sims villa will launch first because pasir ris have polyclinic etc, probably need approval from various institutions as well ?? not sure)

It would be unfair to peg their pricing based on the sales from Pasir Ris though, there are so many condos in pasir ris, if you see the past transactions of resale privates in pasir ris, most of them are not even making much appreciation, if you see the number of units up for sale vs units sold, you might want to think twice. Furthermore, the mix dev in pasir ris have to build a town plaza, polyclinic and some other stuff which will add on to their development cost.

 

[slashGNR]

Penrose is 2 bus stops away from Geylang Polyclinic, Fairprice and Sheng Siong...all in Geylang East Central...

 

[Passerboy]

I am currently staying in pasir ris, from last year june i've been seeing facebook ads on Pasir Ris mix development already, a lot of agents wasting money blasting ads to secure leads

Looking at the time land was sold, Pasir ris (won in march), Sims Villa(won in april) - i would say Pasir Ris, but then again it depends on BCA/LTA etc their design and approval (most likely sims villa will launch first because pasir ris have polyclinic etc, probably need approval from various institutions as well ?? not sure)

It would be unfair to peg their pricing based on the sales from Pasir Ris though, there are so many condos in pasir ris, if you see the past transactions of resale privates in pasir ris, most of them are not even making much appreciation, if you see the number of units up for sale vs units sold, you might want to think twice. Furthermore, the mix dev in pasir ris have to build a town plaza, polyclinic and some other stuff which will add on to their development cost.

True, but I do not think the Pasir Ris Integrated Dev would be launch below 1400psf though, saw a Fb add that stated that this site would be launch at EC price (which I assume 11xxpsf) which is quite ridiculous if even possible, the Pasir Ris site would have even greater appeal than Treasures.

I am not too convince if Penrose would have greater appeal compared to Parc Esta though given that it has a long unshelthered portion 7-8 mins from mrt and that it is beside the expressway, thus 15xxpsf may be a good bet, given PE avg is 1690psf up.

 

[kiatme]

[talking about pasir ris mix development]
Don't think it'll cost 11xx if they've to setup a polyclinic and other misc stuff, it's just like parc botannia, where PB have to maintain the playground which adds on to their cost.

(still pasir ris)
Based on current market 1.4k psf for mix dev is attractive lah.. but if you see the surrounding pasir ris developments, 8xx to 1.1k xx... all 5-10 mins walk / 2 bus stops away from mrt; I'm not sure if anyone staying in pasir ris would be keen, plus the condo are abit special, a lot of them have a lot of pool facilities and pool view, for pasir ris mix, I think only 20%(max) of the units might enjoy pool view if you see from master plan, furthermore the plot ratio is only 2.5, the hdb on the left plot ratio 2.8 only 13 stories high, imagine mix development, probably only 7-10 levels of units and ceiling height probably 2.5-2.7ish.

It is very hard to guess how much this pasir ris mix development would go for, but no matter what I feel it's not fair to compare against a city fringe rcr project &#55357;&#56834;

 

[1993newbie]

Height for plot ratio. Ceiling height are usually 2.7-2.9m. Nearby properties are transacting at 6xx-13xx psf. I foresee the mix dev to be launch above $1400psf.

[talking about pasir ris mix development]
Don't think it'll cost 11xx if they've to setup a polyclinic and other misc stuff, it's just like parc botannia, where PB have to maintain the playground which adds on to their cost.

(still pasir ris)
Based on current market 1.4k psf for mix dev is attractive lah.. but if you see the surrounding pasir ris developments, 8xx to 1.1k xx... all 5-10 mins walk / 2 bus stops away from mrt; I'm not sure if anyone staying in pasir ris would be keen, plus the condo are abit special, a lot of them have a lot of pool facilities and pool view, for pasir ris mix, I think only 20%(max) of the units might enjoy pool view if you see from master plan, furthermore the plot ratio is only 2.5, the hdb on the left plot ratio 2.8 only 13 stories high, imagine mix development, probably only 7-10 levels of units and ceiling height probably 2.5-2.7ish.

It is very hard to guess how much this pasir ris mix development would go for, but no matter what I feel it's not fair to compare against a city fringe rcr project ******************

 

[Passerboy]

[talking about pasir ris mix development]
Don't think it'll cost 11xx if they've to setup a polyclinic and other misc stuff, it's just like parc botannia, where PB have to maintain the playground which adds on to their cost.

(still pasir ris)
Based on current market 1.4k psf for mix dev is attractive lah.. but if you see the surrounding pasir ris developments, 8xx to 1.1k xx... all 5-10 mins walk / 2 bus stops away from mrt; I'm not sure if anyone staying in pasir ris would be keen, plus the condo are abit special, a lot of them have a lot of pool facilities and pool view, for pasir ris mix, I think only 20%(max) of the units might enjoy pool view if you see from master plan, furthermore the plot ratio is only 2.5, the hdb on the left plot ratio 2.8 only 13 stories high, imagine mix development, probably only 7-10 levels of units and ceiling height probably 2.5-2.7ish.

It is very hard to guess how much this pasir ris mix development would go for, but no matter what I feel it's not fair to compare against a city fringe rcr project ******************

Florence Res in OCR is at 14xx-15xx psf and not near MRT.
Affinity and Gardens in OCR likewise cost 15xx-16xxpsf upwards. If Pasir Ris integrated plot cost only 1400psf its very attractive imo.

 

[Doc Madatay]

I grew up around this area and love it for the connectivity
I will pick this area over Pasir Ris every single time (not assuming Pasir Ris gonna be EC cheap)
Personally the attraction is not Geylang east central but proximity to city
But I will not buy a project beside a Super busy expressway
If you want to then choose the one facing sims drive

 

[Passerboy]

I grew up around this area and love it for the connectivity
I will pick this area over Pasir Ris every single time (not assuming Pasir Ris gonna be EC cheap)
Personally the attraction is not Geylang east central but proximity to city
But I will not buy a project beside a Super busy expressway
If you want to then choose the one facing sims drive

In this current market, if a new launch integrated dev, even if its pasir ris is EC cheap (11xx-12xxpsf) everyone would be queuing even longer than the M queue.