3 ORCHARD BY THE PARK

QUICK FACT ON THIS CONDOMINIUM 

Project Name	3 Orchard By-The-Park
Address	3 Orchard Boulevard, Singapore 248653
Developer	YTL Westwood Properties Pte Ltd
Tenure	Freehold
T.O.P. Date	TOP Obtained
District	10
Total Units	77 Units

Let's look at condominiums in and around Orchard area: PROJECT NAME TENURE No. Of Units COMPLETION AVERAGE PSF($) Orchard Bel-Air 99-Year 71 1984 1,208 The Tomlinson Freehold 29 2002 2,133 St Regis Residences 999-Year 173 2008 2,292 Cuscaden Residences Freehold 150 2002 2,002 The Grange Freehold 95 2008 2,257 Hana Condo 99-Year 26 2014 - As you can see,  other than Hana condo (which is only for lease), there hasn’t been any new condos being released for sale in the area for the last decade and the developer could possibly leverage on the demand for brand new condo units within the precinct.  To put it simply, having a freehold property in prime District 9 which is sitting just next to an MRT station is simply rare, however, we believe that this is not the only consideration factor for the high net-worth individuals. At S$3600 psf is 3 Orchard By the park a good buy? Heated bids may fuel Orchard home prices to $4,000 psf Breakeven levels for Park House is estimated at $3,300 psf. Aggressive bids for prime sites in Orchard Road may push home prices to go beyond the $4,000 psf  according to a flash note by DBS Group Research. This comes as Hong Kong-listed Shun Tak snapped two prime residential sites in Orchard Road, 21 Orchard Boulevard (Park House) and 14 & 14A Nassim Road, for a combined $593.5m in a move that significantly widened its real estate exposure as the company has selectively invested in commercial and hospitality projects in the lion city. “These are bold bids placed by Shun Tak as the bid prices imply that selling prices will test new highs in the Orchard vicinity,” said DBS analyst Derek Tan. After assuming a 10% balcony bonus, break-even levels for Park House and 14 & 14A Nassim Road clock in at $3,300 psf and $3,100 psf respectively, according to DBS estimates, suggesting that projects in the pipeline could hit or even breach the $4,000 psf mark. “We note with over 20 sites sold within the core central region year to date, supply in the CCR for new developments is building up in the near term and competition for buyers’ attention is also heating up,” he added. With nearly the entire stretch of Cuscaden Road up for sale including YTL’s 77-unit 3 Orchard by the Park and a GLS site scored by SC Global, Far East Consortium and New World Development, it would come as no surprise if property prices would breach benchmarks and set new records in the coming months. source: RESIDENTIAL PROPERTY | STAFF REPORTER, SINGAPORE PUBLISHED: 14 JUN 18

-