25-10-2011, 05:00 AM
Business Times - 25 Oct 2011
DBSS project Trivelis to be launched tomorrow
Its indicative pricing is on the higher side when compared with resale flats: SLP
By MINDY TAN
TRIVELIS, an 888-unit development under the Design, Build and Sell Scheme (DBSS), will be launched by EL Development tomorrow.
Located at Clementi Ave 4, the three 40-storey towers consist of three-room to five-room flats, of which more than 50 per cent are four-room flats.
Prices of three-room flats (646 sq ft) will range from $375,000 to $470,000; four-room units (861 sq ft to 883 sq ft) will range from $530,000 to $650,000; five-room flats (1,130 sq ft) will range between $658,000 and $770,000.
The indicative pricing is on the higher side when compared with resale flats, and even strays into executive condominium (EC) prices, noted Nicholas Mak, research head of property consultancy SLP International.
A four-room resale flat in Clementi averages about $500,000 while a five-room resale flat costs about $630,000, give or take $20,000 respectively, he noted.
ECs on the other hand tend to hover in the $700-$720 psf range, which means once prices cross the $700 psf mark, they are going into the EC price range, he said.
Based on the price range, Trivelis's three-room units cost approximately $580-$727 psf; its five-room units cost between $582 and $681 psf.
On average, the units cost $650 psf, said EL Development.
There are, however, notable selling points for Trivelis, Mr Mak said, including the superior location - of the three DBSS projects launched (Lake Vista @ Yuan Ching, Belvia at Bedok Reservoir and Trivelis), Trivelis boasts the shortest distance by road to the nearest MRT station; close proximity to National University of Singapore, Ngee Ann Polytechnic and Singapore Polytechnic; and its 40-storey height.
'(The project has) a slightly higher pricing because of its superior location and lack of competitors in the area,' said Mr Mak. 'Also, demand from the HDB market at the moment is still quite strong. I guess DBSS developers are taking the opportunity to capitalise on that.'
E-applications for Trivelis start tomorrow and end on Oct 31.
This project is one of a few for which tenders were given out before the government announced earlier this year that it will put DBSS projects on hold.
The government said it wanted to review the scheme following an outcry from Singaporeans after developer Sim Lian's DBSS project, Centrale 8 (in Tampines), made the news for its high asking prices.
Sim Lian Group had initially estimated prices of $880,000 for a five-room unit, but later revised it to $778,000.
DBSS project Trivelis to be launched tomorrow
Its indicative pricing is on the higher side when compared with resale flats: SLP
By MINDY TAN
TRIVELIS, an 888-unit development under the Design, Build and Sell Scheme (DBSS), will be launched by EL Development tomorrow.
Located at Clementi Ave 4, the three 40-storey towers consist of three-room to five-room flats, of which more than 50 per cent are four-room flats.
Prices of three-room flats (646 sq ft) will range from $375,000 to $470,000; four-room units (861 sq ft to 883 sq ft) will range from $530,000 to $650,000; five-room flats (1,130 sq ft) will range between $658,000 and $770,000.
The indicative pricing is on the higher side when compared with resale flats, and even strays into executive condominium (EC) prices, noted Nicholas Mak, research head of property consultancy SLP International.
A four-room resale flat in Clementi averages about $500,000 while a five-room resale flat costs about $630,000, give or take $20,000 respectively, he noted.
ECs on the other hand tend to hover in the $700-$720 psf range, which means once prices cross the $700 psf mark, they are going into the EC price range, he said.
Based on the price range, Trivelis's three-room units cost approximately $580-$727 psf; its five-room units cost between $582 and $681 psf.
On average, the units cost $650 psf, said EL Development.
There are, however, notable selling points for Trivelis, Mr Mak said, including the superior location - of the three DBSS projects launched (Lake Vista @ Yuan Ching, Belvia at Bedok Reservoir and Trivelis), Trivelis boasts the shortest distance by road to the nearest MRT station; close proximity to National University of Singapore, Ngee Ann Polytechnic and Singapore Polytechnic; and its 40-storey height.
'(The project has) a slightly higher pricing because of its superior location and lack of competitors in the area,' said Mr Mak. 'Also, demand from the HDB market at the moment is still quite strong. I guess DBSS developers are taking the opportunity to capitalise on that.'
E-applications for Trivelis start tomorrow and end on Oct 31.
This project is one of a few for which tenders were given out before the government announced earlier this year that it will put DBSS projects on hold.
The government said it wanted to review the scheme following an outcry from Singaporeans after developer Sim Lian's DBSS project, Centrale 8 (in Tampines), made the news for its high asking prices.
Sim Lian Group had initially estimated prices of $880,000 for a five-room unit, but later revised it to $778,000.