Royalgreen

[daheigou999]

Anyone going to showflat this Saturday?

District 10 FH...

 

[griffin jr]

think no demand ba.. havent heard anything much abt this one.

district 10 FH... but is location good? plot ratio low...

i dunno. wait for sexperts

 

[bolster]

Not 1km to MGS or any school leh....

If for rental buy Fourth avenue, cheaper lah. Shelter to MRT.

 

[griffin jr]

Not 1km to MGS or any school leh....

If for rental buy Fourth avenue, cheaper lah. Shelter to MRT.

fourth avenue looks ok but 1 year liao still cannot sell? all these FH D10 property issit cannot make it

 

[bolster]

fourth avenue looks ok but 1 year liao still cannot sell? all these FH D10 property issit cannot make it

Over there, I think only those near to good school got demand.

The rental there, better rent Orchard area if school not important.

 

[daheigou999]

fourth avenue looks ok but 1 year liao still cannot sell? all these FH D10 property issit cannot make it

Old Rich will think the units are too small, and Young Rich would prefer being closer to town (e.g. Martin Modern)?

 

[griffin jr]

Old Rich will think the units are too small, and Young Rich would prefer being closer to town (e.g. Martin Modern)?

interesting observation, that might make sense.

just wondering why a bt timah FH property that seemingly comes in today's standard sizes.. would be so unpopular

for own stay i mean.

 

[bolster]

interesting observation, that might make sense.

just wondering why a bt timah FH property that seemingly comes in today's standard sizes.. would be so unpopular

for own stay i mean.

Nowadays, freehold or 99 same lah. After 30yrs en bloc, why bother pay a premium for freehold title?

 

[daheigou999]

interesting observation, that might make sense.

just wondering why a bt timah FH property that seemingly comes in today's standard sizes.. would be so unpopular

for own stay i mean.

Speaking for the Young (not necessarily Rich), BT is simply not as convenient as other more “happening” areas like Robertson Quay, Tanjong Pagar or Bugis if one can afford

Otherwise with a lower budget/larger size, one would likely look at RCR for the same level of physical convenience.

Correct me if I’m wrong, but I always felt the prestige of BT lies in landed houses and not typical condos

 

[Passerboy]

Speaking for the Young (not necessarily Rich), BT is simply not as convenient as other more “happening” areas like Robertson Quay, Tanjong Pagar or Bugis if one can afford

Otherwise with a lower budget/larger size, one would likely look at RCR for the same level of physical convenience.

Correct me if I’m wrong, but I always felt the prestige of BT lies in landed houses and not typical condos

I feel likewise.

Personally, if affordability was within me, I would think the area such a Marina Bay, Tanjong Pagar, Downtown Orcahrd, Bugis, Chinatown would be more appealing than BT.

I personally grapple with why new launches in Upper Bukit Timah in D21 can cross $1600psf.

 

[terriblee]

I feel likewise.

Personally, if affordability was within me, I would think the area such a Marina Bay, Tanjong Pagar, Downtown Orcahrd, Bugis, Chinatown would be more appealing than BT.

I personally grapple with why new launches in Upper Bukit Timah in D21 can cross $1600psf.

I quite like Bukit Timah for its tranquility and would purchase it over the areas you listed above. To me, a home is not about excitement but a sanctuary of peace. The areas above are too hectic, noisy and crowded. Just a personal preference I guess...

 

[griffin jr]

I quite like Bukit Timah for its tranquility and would purchase it over the areas you listed above. To me, a home is not about excitement but a sanctuary of peace. The areas above are too hectic, noisy and crowded. Just a personal preference I guess...

think got 2 camps ba. those kids who grew up arnd bt timah might continue to like it

those who grew up in rcr might prefer the glitz and glamour of orchard/newton?

just my initial thoughts. was just passing by royalgreen and thought it was an interesting development.

 

[daheigou999]

think got 2 camps ba. those kids who grew up arnd bt timah might continue to like it

those who grew up in rcr might prefer the glitz and glamour of orchard/newton?

just my initial thoughts. was just passing by royalgreen and thought it was an interesting development.

There’s also a 3rd camp — if you previously lived in BT, and your grandparents/parents buy you a house just to be closer to extended family

https://www.businesstimes.com.sg/real-estate/singapore-rich-kids-are-ending-up-with-penthouses-as-parents-skirt-taxes

 

[griffin jr]

There’s also a 3rd camp — if you previously lived in BT, and your grandparents/parents buy you a house just to be closer to extended family

https://www.businesstimes.com.sg/real-estate/singapore-rich-kids-are-ending-up-with-penthouses-as-parents-skirt-taxes

thanks for flagging! kaoz..dis kind really too rich liao

 

[spcs2020]

Only 69 out of 285 units (24%) are sold so far, for the past 12 months. What keep the sales so low, considering it's near MRT?

 

[daheigou999]

Only 69 out of 285 units (24%) are sold so far, for the past 12 months. What keep the sales so low, considering it's near MRT?

Like most new launches, Royalgreen is playing the low quantum/high psf game but this doesn’t work well in prime D10.

• Unlike commoners, richer folks don’t fancy squeezing into small units just to “live in a condo”
• Rental demand for small units is not strong @ Sixth Avenue

Hence, the addressable market is very limited

 

[spcs2020]

Like most new launches, Royalgreen is playing the low quantum/high psf game but this doesn’t work well in prime D10.

• Unlike commoners, richer folks don’t fancy squeezing into small units just to “live in a condo”
• Rental demand for small units is not strong @ Sixth Avenue

Hence, the addressable market is very limited

I see.

Anyone has any idea on what's the rought breakeven psf for ROyal Green?

 

[spcs2020]

I begin to understand what you mean.

RoyalGreen has been launched for more than 1 year, and till now, not 28% sold. Average psf is quite high - 26xx-27xx psf.

The nearby FH condos that are about 10-15 yo are just selling at 16xx psf. So basically you're paying a huge premium over another FH that is not too dated.

Units are not as big as the slightly older one. Quite difficult to rent out in the near future as you will face strong competition with Fourth Avenue Residences, which is by the same developer, much much nearer to the same MRT station (less than 50 steps) and much cheaper to rent due to 99 LH.

RoyalGreen is not all sheltered from MRT, unlike Fourth Avenue, so a bit of inconvenience when it rains

Like most new launches, Royalgreen is playing the low quantum/high psf game but this doesn’t work well in prime D10.

• Unlike commoners, richer folks don’t fancy squeezing into small units just to “live in a condo”
• Rental demand for small units is not strong @ Sixth Avenue

Hence, the addressable market is very limited

 

[daheigou999]

I begin to understand what you mean.

RoyalGreen has been launched for more than 1 year, and till now, not 28% sold. Average psf is quite high - 26xx-27xx psf.

The nearby FH condos that are about 10-15 yo are just selling at 16xx psf. So basically you're paying a huge premium over another FH that is not too dated.

Units are not as big as the slightly older one. Quite difficult to rent out in the near future as you will face strong competition with Fourth Avenue Residences, which is by the same developer, much much nearer to the same MRT station (less than 50 steps) and much cheaper to rent due to 99 LH.

RoyalGreen is not all sheltered from MRT, unlike Fourth Avenue, so a bit of inconvenience when it rains

If I’m a tenant, I’ll definitely rent at FAR for the convenience. These two condos are of the same vintage, and tenants don’t care about FH/LH. All being said, tenancy demand for small units in that prime area is weak.

If I’m a home owner, these small units are pitiful compared to other Bukit Timah options out there. However, this product should appeal to the group of wanna-be trying to squeeze out a D10 FH address with the lowest quantum. It’s all about the “face”, isn’t it?

 

[spcs2020]

WHat you said is true. I just checked the rentals for the 3 nearby condos (some are relatively new like 10yo), and the demand is bad.

Only 2-3 transactions are for 2 bedder and the rest are 3 to 5 bedders. Even that 2 bedder is huge for today's standard - 1500 to 1600 sqft.

The 3 bedders for RoyalGreen is only 980 for the largest layout. So buyers who purchased 2-3 bedders for RoyalGreen will struggle to look for tenants.

Here are the most recent transactions.

https://imgur.com/obyZ4FE

If I’m a tenant, I’ll definitely rent at FAR for the convenience. These two condos are of the same vintage, and tenants don’t care about FH/LH. All being said, tenancy demand for small units in that prime area is weak.

If I’m a home owner, these small units are pitiful compared to other Bukit Timah options out there. However, this product should appeal to the group of wanna-be trying to squeeze out a D10 FH address with the lowest quantum. It’s all about the “face”, isn’t it?