Rivertrees Residences•Fernvale Close•Sengkang•Singapore Condominium

06/02/2023

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We have been receiving regular enquiries from and who are exploring the possibility of owning, investing or renting an and/or within the vicinity.

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Rivertrees Residences•Fernvale Close•Sengkang•Singapore Condominium

29/12/2022

🇸🇬📰𝐂𝐨𝐧𝐝𝐨 𝐮𝐧𝐢𝐭𝐬 𝐬𝐡𝐫𝐢𝐧𝐤𝐢𝐧𝐠 𝐢𝐧 𝐛𝐢𝐝 𝐭𝐨 𝐤𝐞𝐞𝐩 𝐩𝐫𝐢𝐜𝐞𝐬 𝐚𝐟𝐟𝐨𝐫𝐝𝐚𝐛𝐥𝐞
𝘋𝘦𝘷𝘦𝘭𝘰𝘱𝘦𝘳𝘴 𝘵𝘳𝘪𝘮 𝘶𝘯𝘪𝘵 𝘴𝘪𝘻𝘦𝘴 𝘵𝘰 𝘬𝘦𝘦𝘱 𝘱𝘳𝘪𝘤𝘦𝘴 𝘢𝘧𝘧𝘰𝘳𝘥𝘢𝘣𝘭𝘦 𝘪𝘯 𝘸𝘢𝘬𝘦 𝘰𝘧 𝘭𝘦𝘯𝘥𝘪𝘯𝘨 𝘤𝘶𝘳𝘣𝘴
28 August 2014 (Source: The Straits Times)

Sizes of condominium units here are shrinking as developers battle to keep new project prices affordable in ever tougher market conditions, a new study by property consultancy Knight Frank has found.

A string of cooling measures and stricter lending guidelines have made it harder for home hunters to finance new purchases.

The smaller units being built by developers mean lower overall prices which fit with buyers' shrinking budgets, Knight Frank noted.

The study looked at suburban condominiums launched in the past year and the impact of the Total Debt Servicing Ratio (TDSR) framework introduced last June.

"It appears that there is a reduction in the variety of size ranges since the implementation of the TDSR," said Ms Alice Tan, research head at Knight Frank.

"Developers are seeking to price their product right to achieve the dual objectives of moving sales and maintaining their overall target average prices of new project launches."

Knight Frank analysed 17 condos with at least 200 units, comparing those which were launched before the introduction of TDSR and those launched subsequently. It found that the size of the largest units in each condo type had shrunk. Five-bedroom units shrank the most with the average size of the largest units in the category falling 22.9 per cent, from 2,035 sq ft to 1,569 sq ft.

https://www.straitstimes.com/singapore/housing/condo-units-shrinking-in-bid-to-keep-prices-affordable

Rivertrees Residences•Fernvale Close•Singapore Condominium

Five-bedroom units shrank the most as developers battle to keep prices affordable, said a study by Knight Frank. Read more at straitstimes.com.

29/12/2022

🇸🇬📰𝐅𝐞𝐫𝐧𝐯𝐚𝐥𝐞 𝐭𝐞𝐧𝐝𝐞𝐫𝐬 𝐫𝐞𝐟𝐥𝐞𝐜𝐭 𝐝𝐫𝐨𝐩 𝐢𝐧 𝐦𝐚𝐫𝐤𝐞𝐭 𝐜𝐨𝐧𝐟𝐢𝐝𝐞𝐧𝐜𝐞
𝘊𝘩𝘪𝘱 𝘌𝘯𝘨 𝘚𝘦𝘯𝘨-𝘭𝘦𝘥 𝘤𝘰𝘯𝘴𝘰𝘳𝘵𝘪𝘶𝘮 𝘵𝘰𝘱𝘴 𝘣𝘪𝘥𝘴 𝘧𝘰𝘳 𝘢𝘥𝘫𝘢𝘤𝘦𝘯𝘵 𝘱𝘳𝘪𝘷𝘢𝘵𝘦 𝘩𝘰𝘶𝘴𝘪𝘯𝘨 𝘴𝘪𝘵𝘦𝘴
8 August 2014 (Source: The Business Times)

The latest state land tender for a pair of adjacent private housing sites in Fernvale Road in Sengkang showed a thinning in tender participation rates as well as land prices - compared with two sites in the area sold last year before the total debt servicing ratio kicked in.

This reflects less confidence among developers given current weaker market conditions, said industry players.

At yesterday's tender for the 99-year plots, Parcel A along Fernvale Road drew just four bids, and the next-door Parcel B, three bids - down sharply from the eight and nine bids respectively for the two sites tendered in April and June last year respectively.

While the earlier sites, which are now being developed into Riverbank@Fernvale and Rivertrees Residences condos, are slightly superior as they boast water-frontage, the latest pair of sites along Fernvale Road are closer to the Jalan Kayu amenities such as food and beverage outlets, notes JLL national director Ong Teck Hui.

The top bids for Parcels A and B in Fernvale Road - S$438.17 per square foot per plot ratio (psf ppr) and S$448.35 psf ppr respectively - are also significantly lower than last year's winning bids of S$489 psf ppr and S$533 psf ppr for the Riverbank@Fernvale and Rivertrees Residences sites respectively. Against the land price of Rivertrees Residences - the highest bids for Parcels A and B on Fernvale Road are lower by 17.8 per cent and 15.9 per cent respectively.

A tie-up involving Chip Eng Seng, Kim Seng Heng Realty and Heeton Homes placed the highest bids for both parcels in the latest tender. Analysts attribute the slightly higher bid for Parcel B to it being closer to Thanggam LRT Station. "These bid levels are around my expectation of $450 psf ppr for the two plots taking into account weaker market conditions today," said Mr Ong. The introduction of the TDSR (total debt servicing ratio) framework in late-June 2013 has reduced property transactions.

Analysts polled by BT when the sites were launched by the Urban Redevelopment Authority (URA) in June this year had forecast top bids of $420-480 psf ppr for the two sites, with around five bids for each plot.

"Developers are becoming more cautious in their land bids - due to slower housing sales post-TDSR," said SLP International executive director Nicholas Mak. "Land prices are likely to continue softening for the next six to nine months, amid weak demand and falling prices of private homes," he added.

Putting things into perspective, JLL's Mr Ong noted that yesterday's top bids are the lowest for private residential sites at state tenders since the Vue 8 Residence site in Pasir Ris was sold back in June 2012 for S$418 psf ppr. Besides generally weaker market conditions, the bidders for the latest two sites would have factored unsold inventory in Riverbank@Fernvale and Rivertrees Residences. "Both were launched in February 2014 and of the combined total stock of 1,050 units, some 52 per cent remained unsold as at end-June 2014."

Despite reasonably good take-up at initial launch, sales progress in subsequent months has been slow. "It shows that the projects' average pricing at S$1,030 to S$1,110 psf is unable to attract sufficient buyers to achieve better sales progress. Consequently bidders at today's tenders would have to bid considerably lower for the sites in order to price the projects more competitively and achieve better sales take-up," added Mr Ong.

When contacted last night, Raymond Chia, group CEO of Chip Eng Seng, which is leading the consortium that placed top bids for both Fernvale Road plots, said: "Clinching both sites is more of a strategic move to better manage construction costs and overall planning for the development. We're exploring whether to do separate projects for the two sites or a single development, but we should have nearly 1,400 units in all, encompassing a range of unit sizes."

Chip Eng Seng is taking the majority 60 per cent stake in the consortium, while a joint venture between Kim Seng Heng Realty and Heeton Homes will hold the balance. "With both Chip Eng Seng and Kim Seng Heng involved in the construction business, we should be able to contain our costs better," said Mr Chia.

The breakeven costs for the two sites are estimated at around $850-890 psf. And the consortium is hoping to launch the initial phase in first-half next year at around $1,000 psf on average.

Also bidding for Parcel A yesterday were a City Developments-TID partnership (bidding around S$400 psf ppr), Sim Lian Land (S$361 psf ppr) and Koh Brothers (S$321 psf ppr). Vieing for Parcel B were Flair Development, controlled by Wee Ee Chao (S$418 psf ppr) and Sim Lian Land (S$392 psf ppr).
https://www.businesstimes.com.sg/fernvale-tenders-reflect-drop-market-confidence

Rivertrees Residences•Fernvale Close•Singapore Condominium

[SINGAPORE] The latest state land tender for a pair of adjacent private housing sites in Fernvale Road in Sengkang showed a thinning in tender participation rates as well as land prices - compared with two sites in the area sold last year before the total debt servicing ratio kicked in. Read more at...

22/11/2016

Dear Owners-to-be.

Congratulations on obtaining your keys to your home at RIVERTREES RESIDENCES in time to come. Do let us know if you are planning to rent out or market your property. We have received multiple enquiries for both buying and renting. We are just a Private Message away. Let us know when will be convenient for you. Have a good day.



Rivertrees Residences•Fernvale Close•Singapore Condominium

Featured Property Listings, Real Estate Matters at RIVERTREES RESIDENCES For Rent and Sale.

20/11/2016

Rivertrees Residences Condominium Construction Status as of 20 November 2019. Do you feel the same excitement as us looking at the ground up growth of Rivertrees Residences towards the most awaited TOP Date (aka Key Collection Day).

Developer units still available for sale. Please send us a private message to arrange for a private showflat viewing before all is gone.

Rivertrees Residences Rental & Sales Team

Rivertrees Residences Rental & Sales Hotline: +65-61001699
Home Page: https://www.facebook.com/Rivertrees-Residences-Singapore-1456897347864998/

09/11/2015

🌏🇸🇬🏘🏡Connect to Rivertrees Residences•Fernvale Close•Sengkang•Singapore Condominium for the latest private residential property (apartments/townhouses) leasing, rental and sales listings in RIVERTREES RESIDENCES Condominium. Send us a Private Message at m.me/rivertrees.residences.condo.singapore for your enquiries and requirements on your property and real estate needs.

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RIVERTREES RESIDENCES Condo Apartments/Townhouses | Fernvale Close | Fernvale | Sengkang | Outside Central Region (OCR) - Northeast Region | District 19 | Singapore

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Essential Contact Numbers in RIVERTREES RESIDENCES Condominium

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RIVERTREES RESIDENCES Condominium Leasing, Rental and Sales Team (non-Management related)
RIVERTREES RESIDENCES Condominium Home Page: https://www.facebook.com/rivertrees.residences.condo.singapore/posts/1718092161745514
RIVERTREES RESIDENCES Condominium Leasing, Rental and Sales Enquiry Private Message Inbox: m.me/rivertrees.residences.condo.singapore

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RIVERTREES RESIDENCES Condo features a non-landed residential home project development (private apartment/condominium) with 5 blocks of 20/22-storey apartments and 8 blocks of 2-storey cove houses located in the northerneastern region of Fernvale Close off Fernvale Link and Sengkang West Way in Fernvale, Sengkang, Singapore by Anchorvale Community Club, Anchorvale Village, Fernvale Community Club, Fernvale Hawker Centre/Market, Jalan Kayu, Sengkang Hockey Stadium. Sengkang Riverside Park, Sengkang Sports Centre, Sengkang Sports Complex, Sungei Punggol, The Seletar Mall developed by Watervine Homes Pte Ltd, a joint-venture between Fraser Centrepoint Homes, Sekisui House and Far East Orchard Limited.

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RIVERTREES RESIDENCES CONDOMINIUM MANAGEMENT OFFICE MCST 4586
RIVERTREES RESIDENCES Condominium Management Office Contact: 66340421/66340963
RIVERTREES RESIDENCES Condominium Management Office Fax: 66340425
RIVERTREES RESIDENCES Condominium Management Office Email: TBA
RIVERTREES RESIDENCES Condominium Management Office Address: 23 Fernvale Close #01-08, Rivertrees Residences, Singapore 797461

RIVERTREES RESIDENCES Condominium Security Contact: TBA

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Full Address and Postal Code in RIVERTREES RESIDENCES Condominium
21 Fernvale Close, Rivertrees Residences, Singapore 797460 (22-storey apartment)
23 Fernvale Close, Rivertrees Residences, Singapore 797461 (20-storey apartment)
25 Fernvale Close, Rivertrees Residences, Singapore 797462 (20-storey apartment)
27 Fernvale Close, Rivertrees Residences, Singapore 797463 (20-storey apartment)
29 Fernvale Close, Rivertrees Residences, Singapore 797464 (22-storey apartment)
31 Fernvale Close, Rivertrees Residences, Singapore 797465 (2-storey Cove House)
33 Fernvale Close, Rivertrees Residences, Singapore 797466 (2-storey Cove House)
35 Fernvale Close, Rivertrees Residences, Singapore 797467 (2-storey Cove House)
37 Fernvale Close, Rivertrees Residences, Singapore 797468 (2-storey Cove House)
39 Fernvale Close, Rivertrees Residences, Singapore 797469 (2-storey Cove House)
41 Fernvale Close, Rivertrees Residences, Singapore 797470 (2-storey Cove House)
43 Fernvale Close, Rivertrees Residences, Singapore 797471 (2-storey Cove House)
45 Fernvale Close, Rivertrees Residences, Singapore 797472 (2-storey Cove House)

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Rivertrees Residences•Fernvale Close•Sengkang•Singapore Condominium

Featured Property Listings, Real Estate Matters at RIVERTREES RESIDENCES For Rent and Sale.

19/03/2014

🇸🇬📰𝐒𝐞𝐧𝐠𝐤𝐚𝐧𝐠 𝐥𝐚𝐮𝐧𝐜𝐡𝐞𝐬 𝐛𝐨𝐨𝐬𝐭 𝐧𝐞𝐰 𝐡𝐨𝐦𝐞 𝐬𝐚𝐥𝐞𝐬 𝐢𝐧 𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲
17 March 2014 (Source: The Straits Times)

New private home sales rose 28 per cent in February, largely driven by two new launches in Sengkang that month.

Developers sold 724 private homes excluding executive condominiums (ECs) in February, according to Urban Redevelopment Authority data released on Monday.

Most of that was in the suburban region, which accounted for 81 per cent. The city fringe made up 12 per cent and the city centre 7 per cent.

The top seller was the 495-unit Rivertrees Residences at Fernvale Close, which moved 218 units at a median price of $1,111 per sq ft (psf).

It was followed closely by the 555-unit Riverbank@Fernvale next door, where 211 units were sold at a median $1,033 psf.

Rivertrees Residences launched for sale a week after Riverbank.

The 75-unit Hallmark Residences at Ewe Boon Road came a distant third with 26 units sold at a median price of $1,860 psf.

https://www.straitstimes.com/business/sengkang-launches-boost-new-home-sales-in-february

Rivertrees Residences•Fernvale Close•Singapore Condominium

New private home sales rose 28 per cent in February, largely driven by two new launches in Sengkang that month.

19/03/2014

New home sales surge 28% in Feb
But March figures likely to be subdued, say experts

NEW home sales here kept picking up pace last month, as developers returned to the market with major new suburban launches.

But experts expect this month's figures to be subdued, and estimate that total sales for the first quarter will still be about 30 per cent lower than that for the fourth quarter last year.

They said February's upswing might reflect a stabilising market, but that a rebound in buying demand would still largely depend on how developers price units.

Home hunters bought 724 units last month, a 28 per cent surge from the 565 units sold in January, data from the Urban Redevelopment Authority showed yesterday. This excludes sales at executive condominiums.

The upswing was driven by two launches in Sengkang West, where 550 units went on sale. This helped the suburbs record 588 sales, leading the overall tally.

"With the market more attuned to the raft of cooling measures and financing curbs, as well as the festive lull behind, developers released two new mass-market projects in the suburbs," said Ms Chia Siew Chuin, director of research and advisory at Colliers International.

Frasers Centrepoint's 495-unit Rivertrees Residences moved 218 units at a median $1,111 per sq ft (psf), while UOL Group's 555-unit Riverbank @ Fernvale sold 211 units at a median $1,033 psf.

"Despite being (in) strong competition to each other, both adopted competitive pricing strategies," said Dr Chua Yang Liang, head of research and consultancy, South-east Asia, at property firm Jones Lang LaSalle. "The conditions today require developers to be more sensitive to the market, where value for money is key."

On the city fringes, 87 units were sold, while 49 units were moved in the city centre.

Experts said projects launched earlier felt the pressure from new launches, as developers slashed prices at older developments.

Property agency OrangeTee's research head Christine Li pointed to 10 per cent price cuts at MCL Land's Hallmark Residences in Bukit Timah, where 26 units were sold for a median price of $1,860 psf last month. "February's sales of Hallmark Residences could be a silver lining in the market: As long as developers can forgo some margins, but still be profitable, buyers do come back," she said.

Buyers picked up 23 units at EL Development's La Fiesta in Sengkang and 22 units at Fragrance Group and World Class Land's Urban Vista in Tanah Merah.

CBRE research head Desmond Sim said prices are "relatively stable" despite minor corrections of 1 per cent to 3 per cent at older projects. He said the discounts may have been for "less saleable units at older launches".

Still, Mr Sim said March sales figures are not likely to be strong. He expects sales this month to come in at between 400 and 500 units due to a dearth of new launches, and first-quarter sales to hit 1,800 units, 30 per cent below that sold in the preceding three months.

"The future new home sales market will very much be dependent on how developers want to move sales in a quieter market," said Ms Li.

But developers are also waiting to see who makes the first move, said Mr Sim, adding: "It is also a matter of who blinks first... Developers don't want to cannibalise each other too."

Source: The Straits Times

http://sg.propertylaunchnetwork.com

The Straits Times Interactive - Singapore news. Find the latest news reports here.

26/02/2014

🇸🇬📰𝐍𝐞𝐰 𝐡𝐨𝐦𝐞 𝐬𝐚𝐥𝐞𝐬 𝐫𝐢𝐬𝐞 𝐢𝐧 𝐉𝐚𝐧 𝐟𝐫𝐨𝐦 𝐃𝐞𝐜'𝐬 𝐟𝐢𝐯𝐞-𝐲𝐞𝐚𝐫 𝐥𝐨𝐰, 𝐛𝐮𝐨𝐲𝐞𝐝 𝐛𝐲 𝐓𝐡𝐞 𝐇𝐢𝐥𝐥𝐟𝐨𝐫𝐝
𝘚𝘦𝘭𝘭-𝘰𝘶𝘵 𝘴𝘶𝘤𝘤𝘦𝘴𝘴 𝘰𝘧 𝘛𝘩𝘦 𝘏𝘪𝘭𝘭𝘧𝘰𝘳𝘥 𝘩𝘦𝘭𝘱𝘦𝘥 𝘣𝘰𝘰𝘴𝘵 𝘴𝘢𝘭𝘦𝘴 𝘪𝘯 𝘑𝘢𝘯, 𝘴𝘢𝘺 𝘦𝘹𝘱𝘦𝘳𝘵𝘴
17 February 2014 (Source: The Straits Times)

NEW home sales picked up last month from the five-year low recorded in December after developers launched more units in the lead-up to the Chinese New Year.

The sell-out success of The Hillford, which is aimed at retirees, also helped to lift buying interest, property experts said.

Home seekers bought 565 new homes last month - well up on the 259 sales registered in December, according to Urban Redevelopment Authority (URA) data. This excludes sales at executive condominiums.

Three new projects that launched last month - The Hillford, The Panorama and Floraview - kicked off buying action, said ERA Realty key executive officer Eugene Lim.

URA figures show that developers launched 549 units last month compared with 118 in December.

The sales increase last month was led by transactions in the city fringe, where 363 units were shifted.

Analysts said stellar sales at The Hillford in Jalan Jurong Kechil helped shore up the numbers, after all 281 units of the 60-year leasehold development were snapped up for an average price of $1,100 per sq ft (psf) on the first day of its launch.

Sales at other city-fringe projects launched last year also contributed to the rise, with the 445-unit Thomson Three moving 15 units, for instance.

In the suburbs, there were 162 units sold, largely due to the launch of Wheelock Properties' The Panorama in Ang Mo Kio.

The 698-unit development sold 58 units, ranging from $650,000 for one-bedders to about $2.4 million for a five-bedroom home.

There were 40 sales in the prime central districts, including 11 at Duo Residences, four at V on Shenton, three at Leedon Residence and one at Novena Regency.

Ms Chia Siew Chuin, who is director of research and advisory at Colliers International, noted that the recent changes to borrowing curbs are unlikely to boost home sales.

The move on Feb 10 has made it easier for home owners to refinance mortgages for the homes they are living in.

However, sales this month are expected to improve with UOL Group's launch of Riverbank @ Fernvale last week and Frasers Centrepoint's upcoming Rivertrees Residences, experts said.

CBRE research head Desmond Sim added that developers are likely to time their launches carefully over the next few months as loan curbs have caused demand to shrink significantly.

"They don't want to vie for the same slice of the demand pie," he added.

https://www.straitstimes.com/business/new-home-sales-rise-in-jan-from-decs-five-year-low-buoyed-by-the-hillford

Rivertrees Residences•Fernvale Close•Singapore Condominium

Home seekers bought 565 new homes in January, largely thanks to the sell-out launch of The Hillford in Jalan Jurong Kechil. Read more at straitstimes.com.

26/02/2014

🇸🇬📰𝐑𝐢𝐯𝐞𝐫𝐭𝐫𝐞𝐞𝐬 𝐑𝐞𝐬𝐢𝐝𝐞𝐧𝐜𝐞𝐬 𝐝𝐫𝐚𝐰𝐢𝐧𝐠 𝐬𝐭𝐫𝐨𝐧𝐠 𝐛𝐮𝐲𝐞𝐫 𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭
22 February 2014 (Source: The Business Times)

RIVERTREES Residence, a waterfront condominium project in Sengkang, has received close to 600 cheques from interested buyers prior to its official launch today, with interest coming from both owner-occupiers and investors.

Frasers Centrepoint said yesterday that a total of 585 cheques were received for apartments across different sizes. Close to 300 units will be launched in the initial phase for the 495-unit project that is jointly developed by Frasers Centrepoint, Far East Orchard and Sekisui House.

The average pricing for the initial phase is said to be in the range of $950-1,150 per square foot (psf). Frasers Centrepoint had said that the units will be sold at a premium of $50-100 psf to its next-door competing project, Riverbank @ Fernvale by UOL Development.

Already, UOL has moved at least 210 units out of 250 units launched at Riverbank @ Fernvale, where sales began one week back at an average price of slightly above $1,000 psf. Both projects are nestled in the north-east region earmarked under the Draft Master Plan as a new centre for growth.

The Rivertrees Residences project comprises a mix of one and two-bedroom suites, three and four-bedroom units, "trio homes" that have dual-key and inter-generation designs, as well as "prive homes" that come with private lift lobbies. Prices of the two-bedroom suites start from $618,000, according to Frasers Centrepoint.

There are also eight duplex three-bedroom strata-titled landed homes - called "cove houses" - selling for under $2 million, for which permanent residents need to obtain approval from the Land Dealings Unit under the Singapore Land Authority to qualify.

The Frasers Centrepoint-led consortium paid $533 psf for Rivertrees Residences' 99-year leasehold site in June last year, a shade higher than UOL's $489 psf for the Riverbank@Fernvale site in April last year.

https://www.businesstimes.com.sg/rivertrees-drawing-strong-buyer-interest

Rivertrees Residences•Fernvale Close•Singapore Condominium

WATERFRONT CONDOAn artist's impression of The Rivertrees Residence project which is launching today with average pricing said to be in the range of $950-1,150 per square foot

26/02/2014

🇸🇬📰𝐑𝐢𝐯𝐞𝐫𝐭𝐫𝐞𝐞𝐬 𝐑𝐞𝐬𝐢𝐝𝐞𝐧𝐜𝐞𝐬 𝐥𝐚𝐮𝐧𝐜𝐡 𝐡𝐞𝐥𝐩𝐞𝐝 𝐛𝐲 𝐝𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐬𝐦𝐚𝐥𝐥𝐞𝐫 𝐮𝐧𝐢𝐭𝐬
𝘉𝘶𝘵 𝘣𝘳𝘪𝘴𝘬 𝘴𝘢𝘭𝘦𝘴 𝘯𝘰𝘵 𝘢 𝘴𝘪𝘨𝘯 𝘰𝘧 𝘳𝘦𝘤𝘰𝘷𝘦𝘳𝘺 𝘪𝘯 𝘮𝘢𝘳𝘬𝘦𝘵 𝘴𝘦𝘯𝘵𝘪𝘮𝘦𝘯𝘵, 𝘴𝘢𝘺 𝘤𝘰𝘯𝘴𝘶𝘭𝘵𝘢𝘯𝘵𝘴
(Source: The Straits Times)

KEEN demand for smaller, more affordable private homes gave a fillip to weekend sales at another new launch in Sengkang.

The 495-unit Rivertrees Residences condominium in Fernvale was launched on Saturday and sold 220 units over the weekend, its developer Frasers Centrepoint said yesterday.

Consultants said the sales were encouraging and reflected underlying demand from upgraders, but cautioned that it did not signal a recovery in market sentiment.

Rivertrees Residences' sales figure was a little higher than opening weekend sales at its next-door neighbour Riverbank@Fernvale, which sold slightly more than 200 units two weekends ago.

The 555-unit Riverbank@Fernvale, developed by UOL, also moved slightly more than 10 units over the past weekend, a spokesman said yesterday, adding that it had sold out all its one- and two-bedders.

This brings its cumulative sales to roughly the same level as Rivertrees Residences'. Its selling price was slightly over $1,000 per sq ft (psf) on average.

R'ST Research director Ong Kah Seng said sales volumes could have been similar because while Rivertrees Residences was slightly more expensive than Riverbank, it was also nearer to the Layar LRT station.

Smaller units were more popular at both projects. Consultants said this indicated that buyers were now extremely conscious of the total unit price as opposed to the psf price.

Frasers declined to give a sales breakdown but said yesterday that its two-bedders and strata landed houses at Rivertrees Residences sold "particularly well".

The landed houses, all 1,528 sq ft each, were sold for $1.75 million to $1.78 million per unit. This works out to $1,145 to $1,165 psf.

The one- and two-bedders were launched at an average of $1,130 psf, and three- and four-bedders at $1,040 psf on average. Buyers at Rivertrees Residences were a mix of Housing Board upgraders and investors.

"There is still depth in the market," said Mr Cheang Kok Kheong, chief executive of development and property at Frasers.

CBRE research head Desmond Sim said Rivertrees Residences sales were promising, especially coming at "this time of the market where there seems to be more bad news than good news".

He added that since buyers were increasingly selective, some might have moved on to Rivertrees Residences if they missed out on the best units at Riverbank@Fernvale.

Mr Ong also said the sales at both Fernvale projects were "encouraging" but cautioned that it did not mean the overall private residential market was doing well.

"It's unclear whether the homes will fetch good investment returns, so they're better suited for owner-occupiers rather than investors," he added.

Rivertrees Residences•Fernvale Close•Singapore Condominium

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26/02/2014

🇸🇬📰𝟐𝟐𝟎 𝐨𝐮𝐭 𝐨𝐟 𝟑𝟎𝟎 𝐮𝐧𝐢𝐭𝐬 𝐚𝐭 𝐑𝐢𝐯𝐞𝐫𝐓𝐫𝐞𝐞𝐬 𝐑𝐞𝐬𝐢𝐝𝐞𝐧𝐜𝐞𝐬 𝐬𝐨𝐥𝐝
15 September 2014 (Source: The Business Times)

RIVERTREES Residences, the latest condominium project launched in Sengkang, attracted strong buyer interest, with 220 units out of the 300 units launched snapped up over the weekend.

Buyers purchased units from all unit types available; Frasers Centrepoint, the lead developer of the project, said two-bedroom units and strata-titled landed homes known as "Cove Houses" were "selling particularly well".

The two-bedroom suites start from $618,000 while the eight duplex three-bedroom "Cove Houses" are selling for under $2 million. Permanent residents need to obtain approval from the Land Dealings Unit under the Singapore Land Authority to qualify for the landed homes.

Buyers of the units include both HDB upgraders who are buying their first private apartment as well as investors, according to Frasers Centrepoint which is jointly developing the 495-unit waterfront project with Far East Orchard and Sekisui House.

"The strong sales bear testament to the beauty of RiverTrees Residences' site and the attractiveness of the project's excellent design," said Frasers Centrepoint Homes chief executive Cheang Kok Kheong. "This also validates our belief that there is still depth in the market, and that there is robust demand for high-quality homes at the right prices."

The average price for the initial phase of RiverTrees is in the range of $950-$1,150 per square foot (psf), while units at the next-door project, Riverbank @ Fernvale by UOL Development, is selling at an average price of slightly above $1,000 psf.

RiverTrees Residences comprises one- and two-bedroom suites, three- and four-bedroom units, "trio homes" which have dual-key and inter-generation designs, as well as "prive homes" that come with private lift lobbies.

Lui Seng Fatt, chairman of Strategic Capital Global, a private equity firm active in real estate and infrastructure, noted that the recent strong showing for condominium projects in Sengkang suggested that these projects got their psf pricing right, putting the units within reach of upgraders and first-time buyers.

"Firstly, the location is fairly convenient. Secondly, the quantum is within reach of upgraders and first-time buyers. Most importantly, they have priced the projects reasonably on a psf basis," Mr Lui said of the two condominium projects in Sengkang.

He noted that it is important now to get the loan quantums within reach for upgraders and first-time buyers, following the implementation of total debt servicing ratio (TDSR) framework implemented last June, which caps a borrower's total debt repayments at 60 per cent of gross monthly income.

"There are still people looking for upgrading while the investment desires have quietened down," he added. "People want to see value. With the loan restrictions and impending supply, people are not as hungry as two years ago."

https://www.businesstimes.com.sg/property/220-out-300-units-rivertrees-residences-sold

Rivertrees Residences•Fernvale Close•Singapore Condominium

RiverTrees Residences: Buyers of the units include both HDB upgraders as well as investors. The average price for the initial phase of the project is in the range of $950-$1,150 psf