{"id":94757,"date":"2018-07-26T10:58:38","date_gmt":"2018-07-26T03:58:38","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-cools-price-in-response-to-cooling-measures\/"},"modified":"2018-07-26T22:04:00","modified_gmt":"2018-07-26T15:04:00","slug":"developer-cools-price-in-response-to-cooling-measures","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-cools-price-in-response-to-cooling-measures\/","title":{"rendered":"Developer cools price in response to cooling measures"},"content":{"rendered":"


\nThe Tre Ver in Potong Pasir opened for preview last weekend, attracting about 6,000 potential buyers. (Photo: UOL Group)
\nThe developer of The Tre Ver condominium in Potong Pasir plans to offer significant discounts to attract home buyers amidst the new property cooling measures.
\n\u201cIn the vicinity, we know that projects have achieved an overall average of around $1,750 psf. If not for the recent curbs, we would have priced this project at around this level. We are now giving a discount of more than 10 percent for our Phase 1 launch,\u201d said Jesline Goh, senior general manager for asset management and marketing at UOL, which is jointly developing the project with SingLand.
\nMore: Supply glut unlikely to happen, condo prices may see healthy growth: JLL
\nSet to be completed by 2022, the 729-unit private residential project located near Potong Pasir MRT station will feature one- to four-bedroom units spread across nine blocks. Unit sizes range from 484 sq ft to 1,378 sq ft, while prices are between $738,000 and $2.08 million.
\nIn comparison, the average unit price in the first phase of the nearby Park Colonial is between $1,600 and $1,700 psf, with the entire project averaging around $1,700 to $1,800 psf. The 805-unit condominium is being developed by a consortium led by Chip Eng Seng\u2019s property arm CEL Development.
\nPrices at The Tre Ver are also believed to be lower than that of The Woodleigh Residences. In March, the Straits Times reported that prices at the 680-unit project, which is being developed by Singapore Press Holdings (SPH) and Japan\u2019s Kajima Development, are likely to exceed $2,000 psf.
\nJP Morgan property analyst Brandon Lee told the Business Times that developers who purchased land before Q3 last year \u201cshould be able to stomach lower average selling prices, yet attain decent profit-before-tax margins of 5-15 percent\u201d.
\nOn Saturday (21 July), The Tre Ver opened for preview, attracting about 6,000 would-be buyers comprising a mix of young couples and multi-generational families. Unit sales at the 99-year leasehold project will start on 4 August.
\n\u201cThe overwhelming turnout shows that there is still an underlying demand and interest in residential developments with strong product offerings despite the recent cooling measures,\u201d said UOL\u2019s deputy group CEO Liam Wee Sin.
\nMeanwhile, JLL Singapore\u2019s research head Tay Huey Ying thinks that a supply glut is unlikely to happen as long as home builders pace their launches. She said this during a seminar organised by the Real Estate Developers\u2019 Association of Singapore (REDAS), which believes the new property curbs could erode market confidence and worsen the high supply situation.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Developer cools price in response to cooling measures<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Tre Ver in Potong Pasir opened for preview last weekend, attracting about 6,000 potential...<\/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-94757","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-oEl","jetpack-related-posts":[{"id":95475,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/over-140-units-sold-at-the-tre-ver-in-just-hours\/","url_meta":{"origin":94757,"position":0},"title":"Over 140 units sold at The Tre Ver in just hours","date":"August 6, 2018","format":false,"excerpt":"\r A crowd of buyers at the launch of The Tre Ver over the weekend. (Photo: UOL Group) UOL and SingLand\u2019s move to offer substantial discounts to entice home buyers to The Tre Ver condominium amidst the new property curbs appears to have worked after a large crowd turned up\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96057,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-slash-private-condo-prices-by-5-10\/","url_meta":{"origin":94757,"position":1},"title":"Developers slash private condo prices by 5-10%","date":"August 15, 2018","format":false,"excerpt":"\r A crowd of buyers at the recent launch of The Tre Ver in Potong Pasir. (Photo: UOL Group) Private condominiums launched before and after the introduction of new property curbs are trimming their unit prices by around 5.0 to 10 percent, reported TODAYonline. \u201cThe price sweeteners are there to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91370,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-to-launch-new-condo-after-good-sales-at-amber45\/","url_meta":{"origin":94757,"position":2},"title":"UOL to launch new condo after good sales at Amber45","date":"June 14, 2018","format":false,"excerpt":"\r Artist\u2019s impression of The Tre Ver, an upcoming condominium project in Potong Pasir. (Photo: UOL Group) UOL Group\u2019s freehold Amber45 condominium in District 15 continues to draw buyers, with about 65 percent of the 139 units already sold, up from 55 to 60 percent during the launch in mid-May,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":35120,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-to-launch-new-projects-in-clementi-potong-pasir-in-next-two-years\/","url_meta":{"origin":94757,"position":3},"title":"UOL to launch new projects in Clementi, Potong Pasir in next two years","date":"November 21, 2016","format":false,"excerpt":"\r The Clement Canopy in Clementi is set to be launched in early 2017. (Photo: URA) Property developer UOL Group is planning to launch two new residential projects in Clementi and Potong Pasir over the next two years, reported Singapore Business Review, citing a report from OCBC Investment Research. The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":55083,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-group-jointly-completes-purchase-of-raintree-gardens\/","url_meta":{"origin":94757,"position":4},"title":"UOL Group jointly completes purchase of Raintree Gardens","date":"May 17, 2017","format":false,"excerpt":"\r \u00a0 UOL Group has jointly completed the en bloc acquisition of Raintree Gardens in Potong Pasir with its publicly-listed associate firm United Industrial Corporation, reported The Business time. The collective purchase was carried out by UVD (Projects) Pte Ltd, a joint venture between the aforementioned Singapore-based companies, with each\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93351,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-groups-gwee-lian-kheng-to-retire-as-ceo\/","url_meta":{"origin":94757,"position":5},"title":"UOL Group\u2019s Gwee Lian Kheng to retire as CEO","date":"July 7, 2018","format":false,"excerpt":"\r UOL Group\u2019s total assets have grown to about $20 billion as at 31 March.\u00a0 UOL Group\u2019s board of directors is on the lookout for a new group chief executive as its current chief Gwee Lian Kheng is set to retire on 31 January 2019, after 45 years of service.\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\/94757"}],"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=94757"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94757\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=94757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=94757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=94757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}