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The Antares Condo at Mattar MRT Station
10-03-2019, 11:58 PM.
Post: #1
The Antares Condo at Mattar MRT Station
There has been some speculation on the possible pricing for the Antares condo, the upcoming new launch on the URA land sale site next to Mattar MRT station.  Some have placed it at around $1,900 to $2,000 PSF, given its land cost of $1,108 PSF.  And assuming development costs of about $500 PSF.

My take is that it might be difficult to find buyers at the Antares showflat at that price level.  The Antares may be sited next to an MRT station, but otherwise this isn't an extremely convenient location in terms of accessibility to shopping centres or other major amenities.  This pricing level would put it higher than Park Colonial, and practically on par with Park Place Residences, which is indisputably a better location.  I would think a pricing range of around $1,700 to $1,800 would be more palatable.

This would obviously give the developer a very thin margin.  But it can still be done, especially since the developer has its own construction arm, which would help cut some costs.

The Antares location is actually tucked pretty deep inside, which has its good points as it is quieter neighbourhood than Park Place.  But if they want more visibility, they would need to site the Antares condo showflat in a higher traffic location to bring in the incidental crowd too.  Expected to launch around the 3rd Quarter of 2019, so we shall see then.

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