With the Twin Vew condo at West Coast Vale slated for launch in a few weeks time, buyers and investors would be doing their homework to see if this condo is worth investing in.
One way of looking at Twin Vew would be to compare the project with surrounding condominiums.
This post will compare the characteristics of Twin Vew with the surrounding projects.
The comparison projects will be Parc Riviera, Botannia, Monterey Park, The Infiniti, Carablle, Newest, Hundred Trees, Trilinq, The Clement Canopy and J Gateway.
All information is taken from either 99.co or Squarefoot research.
|Twin Vew||Parc Riviera||Botannia||Monterey Park||The Infiniti||Carabelle||Newest||Hundred Trees||Trilinq||Clement Canopy||J Gateway|
|No. of units||520||752||493||280||315||338||136||396||755||505||738|
|Past 12 months selling price||NA||1,230||1,150||1,090||1,005||1,165||865||1,230||1,300||1,430||1,680|
|Rental yield (%)||NA||NA||3.2||2.6||2.8||2.8||2.1||3.0||3.1||NA||3.2|
What can be seen from the table above is that the estimated selling prices of Twin Vew from S$1,350 to S$1,400 is around the range of newer condominiums, with the exception of Newest.
Parc Riviera’s past 12 months selling price averaged S$1,230, while Clement Canopy averaged S$1,431 and J Gateway averaged S$1,680.
Twin Vew’s estimated launch price is marginally higher than Parc Riviera (because Parc Riviera’s land price is lower than that of Twin Vew) but much lower than J Gateway.
One thing going for Twin Vew is the fact that it is at the doorstep of Jurong Lake District.
In addition, there may be an interchange between the Cross Island Line and Jurong Region Line near Twin Vew.
With the exception of Parc Riviera, all the condos in the west coast area (Botannia, Montery Park, The Infiniti, Carabelle, Newest and Hundred Trees) are freehold in nature.
Their past 12 months average selling price is lower, which is to be expected since they were launched for sale in the past.
An investor would be thinking wishfully if he/she would like to buy a new condo at these resale prices and Parc Riviera is sold out.
So for any potential buyer or investor, the only option left to enter the condo market with decent pricing at this point of time via Twin Vew.
High Speed Rail
With the expected completion of the High Speed Rail terminus at Jurong Country Club in 2026, there is likely to be a lot of benefits for properties in the Jurong Lake District and surrounding areas.
Twin Vew, with its strategic location at the South-Eastern tip of Jurong Lake District, stands to gain substantially when an increased flow of ideas, people and business happen between Jurong and Kuala Lumpur.
Buy a freehold property instead?
A potential investor or buyer may look at the upcoming Twin Vew condo launch and wonder why he or she would buy a 99 year condo at a higher price than any of the surrounding freehold project.
One advantage Twin Vew has over the surrounding freehold projects is the lower absolute quantum of the units.
Twin Vew’s 3 bedroom units range from S$1.2 to S$1.5 million, and 4 bedroom units range from S$1.7 to S$2.05m.
A few 3 bedroom units at Hundred Tree transacted for approximately S$1.6 to S$1.7m in the first 3 months of 2018, higher than Twin Vew’s 3 bedroom units.
In Carabelle, some 3 bedroom units went for S$1.4 to S$1.6m in the second half of 2017 to 3M2018.
So on a quantum basis, Twin Vew actually has fairly affordable units.