{"id":108998,"date":"2019-07-15T12:05:26","date_gmt":"2019-07-15T05:05:26","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/former-residents-among-the-2000-visitors-at-one-pearl-bank-launch\/"},"modified":"2019-07-15T12:08:29","modified_gmt":"2019-07-15T05:08:29","slug":"former-residents-among-the-2000-visitors-at-one-pearl-bank-launch","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/former-residents-among-the-2000-visitors-at-one-pearl-bank-launch\/","title":{"rendered":"Former residents among the 2,000 visitors at One Pearl Bank launch"},"content":{"rendered":"


\nOne Pearl Bank attracted about 2,300 buyers during its opening, including former residents, two of which registered their intent to acquire units. However, a large part found that the new development is beyond their reach, even with the new payouts from the en bloc sale.\u00a0
\nSome 2,300 prospective buyers, including former residents, thronged the sales gallery of One Pearl Bank during its opening last Saturday (13 July), reported Today Online.
\nIn fact, two of the former owners of the iconic Pearl Bank Apartments registered their intent to acquire units at the new 39-storey condominium even though bookings will only open on 20 July.
\nHowever, others found the prices at the new development to be beyond their reach, even with the payouts from the en bloc sale.
\n\u201cPrices have now shot up so high. It is beyond reach. Anything below $2,000 per square foot is too much,\u201d said Mr Chua, a 77-year old former owner.
\nThe retiree revealed that the $1.8 million he received for his 1,324 sq ft two-bedder at the old Pearl Bank Apartments is not enough for a similar sized unit at the new development.
\nHe could only afford a 700 sq ft two-bedroom unit for his $1.8 million after taking into account buyers\u2019 stamp duties as well as other costs.
\nAnother former owner, Alex Poh, who also served as Pearl Bank Apartments\u2019 collective sales committee chairman, said homeowners from the former development should not be surprised to find the new homes, which come with a topped-up lease of 99 years, to be priced higher.
\n\u201cYou walk into a Mercedes showroom, you cannot say I want to buy at a second-hand car price. It\u2019s very clear cut. Or if you walk into your Mercedes showroom you want your seller to sell you at Toyota car prices? Simple equation.\u201d
\nThe 65-year-old, who received $5 million for his two three-bedroom units at the Pearl Bank Apartments, is looking at investing in a million-dollar studio unit at the new development, subject to the bank granting him a loan.
\nPoh noted that snagging a \u201cfirst-mover advantage\u201d matters as units there are expected to fetch higher prices in the future.
\nWendy Hui, also a former resident of Pearl Bank Apartments, lamented that the new units would not be as windy as her old unit.
\nShe explained that her old house had a window where air could freely move from the corridor to her living room, whereas the new units will be facing each other, creating a barrier to the air flow.
\nNonetheless, the 66-year old former owner submitted two cheques to confirm interest for two units \u2013 one for her son and another for herself.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Former residents among the 2,000 visitors at One Pearl Bank launch<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

One Pearl Bank attracted about 2,300 buyers during its opening, including former residents, two of...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-108998","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-sm2","jetpack-related-posts":[{"id":109008,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-is-one-pearl-bank-so-popular-with-homebuyers\/","url_meta":{"origin":108998,"position":0},"title":"Why Is One Pearl Bank So Popular With Homebuyers?","date":"July 15, 2019","format":false,"excerpt":"\r Amid gloomy market conditions, the public preview of One Pearl Bank by CapitaLand drew over 4,000 prospective buyers to its sales gallery over the weekend of 13 and 14 July 2019.\u00a0 What makes the project so popular? Below are some of our observations. 1. Unique design One Pearl Bank\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":60302,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pearl-bank-apartments-makes-4th-collective-sale-attempt\/","url_meta":{"origin":108998,"position":1},"title":"Pearl Bank Apartments makes 4th collective sale attempt","date":"July 10, 2017","format":false,"excerpt":"\r View of Pearl Bank Apartments in Outram. (Photo: Wikimedia Commons) The owners of Pearl Bank Apartments in Outram are once again trying their luck at a collective sale, appointing Colliers International and Lee and Lee as marketing agent and law firm for the en bloc process respectively, reported Channel\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106985,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pearl-bank-apartments-to-be-digitally-preserved-ahead-of-redevelopment\/","url_meta":{"origin":108998,"position":2},"title":"Pearl Bank Apartments to be digitally preserved ahead of redevelopment","date":"May 10, 2019","format":false,"excerpt":"\r CapitaLand has spent months documenting Pearl Bank\u2019s facade with the use of drones as well as detailed images and videos of the building. The iconic Pearl Bank Apartments in Outram is set to be digitally documented for public archives ahead of the building\u2019s redevelopment. In fact, CapitaLand has spent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74220,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-sales-still-rising-already-highest-in-two-years\/","url_meta":{"origin":108998,"position":3},"title":"En bloc sales still rising, already highest in two years","date":"December 11, 2017","format":false,"excerpt":"\r The 37-storey horseshoe-shaped building comprises 280 apartments and eight commercial units. It sits on an 82,376 sq ft site and has a 99-year lease with effect from June 1970. (Photo: Colliers International) The number of collective sales here have already reached the highest in two years, reported the Singapore\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109220,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/one-pearl-bank-moved-80-of-units-released-during-launch-weekend\/","url_meta":{"origin":108998,"position":4},"title":"One Pearl Bank moved 80% of units released during launch weekend","date":"July 22, 2019","format":false,"excerpt":"\r CapitaLand sold 160 units or 80 percent of the 200 units released at One Pearl Bank during its first weekend of launch, at an average price of $2,400 per sq ft (psf). Bookings for One Pearl Bank started at 11am on 20 July (Saturday), or a week after its\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108906,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/one-pearl-bank-to-preview-this-saturday\/","url_meta":{"origin":108998,"position":5},"title":"One Pearl Bank To Preview This Saturday","date":"July 12, 2019","format":false,"excerpt":"\r The sales gallery of One Pearl Bank, the development replacing the iconic One Pearl Bank Apartments, will be opened for public viewing this Saturday (13 July), with bookings starting from 20 July. Set to become the tallest residential development within the Outram district, One Pearl Bank comprises two curved\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/108998"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=108998"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/108998\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=108998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=108998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=108998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}