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New Launch Condo at Toa Payoh

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Old 10-11-2015, 07:01 PM
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Default New Launch Condo at Toa Payoh

Just drove past Toa Payoh today and saw the sign board on the land sales of Toa Payoh Lor 6 near Bradell MRT. The new land at Lor 6 is brought by Evia Real Estate. Google search show that this new launch will be Skies 39 condo. Wow Toa Payoh long time no new launch already leh. Last one I think is Trevista in 2008. My wife was looking at Trevista back then when the launch price was $9xxpsf. I thought it was very expensive as resales cost much lower. Not willing to pay record price we passed on Trevista. After Trevista TOP, the resales units transacted at as high as $16xxpsf. Aiyoyo heart pain leh. This is a very expensive lesson. I did not factor in the lack of supply in Toa Payoh area and also new launch condo will better design, quality and a new land lease should have a premium over resale property in the same area.

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Old 12-11-2015, 09:03 AM
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I just check Skies 39 Toa Payoh should be launch 2016 1st quarter. Toa Payoh have no new launch for a long time. This project should do well. Ura record shows 14 developers competed for the land bid. So many developers competed for this piece of land when other land are selling at discount shows how confidence the developers were in Toa Payoh. The winning bid by Skies 39 developer Evia at $345.9 million translate to $755.3psf for the land cost. Factoring in construction and marketing cost the break even should be $1204psf ppr. Average psf therefore should be around $1384psf. $13xx to $14xxpsf should sell if Skies 39 layout and quality is acceptable and most importantly quantum must be affordable.

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