Tag Archives: Woh Hup

Three 11 condo sells half of its units in two hours

Three 11

Three 11

Three 11

Three 11

Freehold condominium Three 11 in Upper Thomson Road sold half of its units in two hours after its launch, according to media reports.

Knight Frank, the project’s sole marketing agent, revealed that 33 of the 65 units were sold mostly to Singaporean buyers who accounted for 80 percent of the crowd, while the rest were foreigners and permanent residents.

The 65-unit development had an average asking price of S$1,615 psf, with units costing S$844,000 for a 460 sq ft one-bedder to S$2.3 million for a 1,500 sq ft penthouse.

Yesterday, a total of 48 units, or 74 percent of the development have been sold.

“About 70 percent of the buyers have bought for owner-occupation,” said Wendy Teng, Knight Frank’s executive director for residential.

Located on the former site of Jasmine Court, the development comprises 14 penthouses, nine one-bedroom, 26 two-bedroom and 16 three-bedroom units. Three 11 was developed by Woh Hup’s unit Aurum Land which acquired the site in a collective sale in 2011 for S$43 million or S$833 psf.

Despite warnings of higher interest rates and tightening of easy liquidity, buyers still showed keen interest in the condominium.

Nicholas Mak, SLP International’s Head of Research and Consultancy, said that the selling price of some units which is lower the S$1 million mark have attracted buyers as well as its proximity to the upcoming Upper Thomson MRT station.

“Investors are still interested to acquire property located near MRT stations, or have good accessibility to public transportation,” he added.

Three 11 expects to obtain its Temporary Occupation Permit (TOP) by 2016.

Source PropGuru – 25 Jun 2013

2 condos launched amid a slow market

Despite a lull in the property market, two freehold condo developments were launched over the weekend, which are expected to gauge buying interest.

Both projects are relatively small, with less than 200 units in total between them.

The upscale 1919 in Mount Sophia was launched by Aurum Land, a unit of Woh Hup. It comprises of 75 black-and-white apartments with average prices ranging between S$2,000 psf and S$2,200 psf. Patio units on the ground floor are also available from S$1,600 psf.

“Woh Hup has a reputation for design and has won awards for it… so depending on how they do it up, they may try to justify the high psf price,” said property consultant Colin Tan.

Marketing agent Knight Frank said the project drew “inspiration from the rich history of its surroundings to create a 21st century version of the celebrated black-and-white house”. 1919 is expected to be completed by 2015.

Meanwhile, Tong Eng Group’s Tropika East, a freehold development off Jalan Eunos, was also launched for sale on 9 June. The project comprises 105 condo units spread across three low-rise blocks.

Slated for completion by June 2016, it is located near the upcoming 748-unit euHabitat and approximately 600m away from the soon-to-open Kaki Bukit MRT station.

Tan said that numerous traffic jams in the area may have turned buyers away. But given that the project is the first launch in a while, there may still be pent-up demand.

Meanwhile, the 120-unit Stella RV freehold development in prime District 10 received even less enthusiastic response from buyers.

According to a media report, fewer than 20 units were sold during the first weekend of launch at an average price of S$2,100 psf.

Jointly developed by Nobel Design, Fission Group and Pinnacle Assets Group, the project offers small-format apartments of one-bedroom plus study units, two-bedroom units and penthouses ranging between 818 sq ft and 936 sq ft.

“Despite the small absolute quantum at S$1.2 million per unit, we think the low take-up could be due to the premium pricing versus surrounding projects,” said Adrian Chua and Michael Lim, analysts at UBS.

Source : PropertyGuru – 2012 Jun 11