Commonwealth Towers . Pricing

On March 30, 2014, in Commonwealth Towers, by Developer Sales

Commonwealth Towers pricing details are not available yet, but a look at the land tender cost may help with estimates of prices.

To recap, this land parcel at Commonwealth Avenue in the heart of the Queenstown HDB estate, is in an attractive location right next to Queenstown MRT Station.

This parcel, zoned for a residential condominium development, has a site area of over 130,000 sq ft, or a maximum GFA (gross floor area) of 637,500 sq ft.

The top bid, at S$562.8 million for this site, came from a consortium comprising subsidiaries of City Developments and Hong Leong Holdings: Verwood Holdings, Intrepid Investments and Hong Realty.

This works out to S$883 per sq ft per plot ratio.

The top bid beat earlier projections, and was 2.46 per cent higher than the second highest bid of S$549.2 million.

Indicative Commonwealth Towers Pricing Calculations

 
Property analysts estimate a breakeven cost of S$1,350 psf, which works out to an expected selling price of above S$1,600 psf.

Desmond Sim, associate director at CBRE Research said: “Prices fetched by the resale HDB flats in Queenstown are the most expensive in Singapore. A five-room HDB Strathmore unit is observed to be asking for up to S$100,000 cash-over-valuation, one of the highest transactions recorded.

Five-room and executive flats that are less than 10 years old fetched at around S$800,000 to S$1 million in some cases between the July-November 2012 period.”

Commonwealth Towers Pricing :: Facilities & Pool

The 99-year lease site was launched for tender by the HDB on December 18 last year.

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Commonwealth Towers Pricing :: VIP Preview

 
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THE MEYER MANSION CONDOMINIUM @ EAST COAST . DISTRICT 15

One of Singapore’s top developers, Guocoland, will redeveloping the former Casa Meyfort site to house a new luxury development, the Meyer Mansion condo. It will a freehold project within easy walking distance from Katong Park MRT station, and even within walking distance of the upcoming Tanjong Katong MRT station as well.

The Meyer Mansion project is similar to Commonwealth Towers in that both are at city-fringe locations, and are high-rise projects. Pricing-wise however, Commonwealth Towers was priced at only around 60% of the expected pricing for Meyer Mansions.

NEW DEVELOPER LAUNCHES

ParkSuites condo by Far East Organisation . Beautiful new mixed development in the Holland Road area . Exclusive residential neighbourhood in District 10 . ParkSuites is opposite top primary school Henry Park . VIP Preview early 2018

Mont Botanik at Hillview Avenue within 15 minutes walk to Hillview MRT station . To be developed by Aurum Land . To launch end 2018

 

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