Forett at Bukit Timah Pricing Outlook
Qingjian Realty purchased the former Goodluck Garden in a collective sales at a purchased price of $610 million. Based on the land size of 33,457.21 sqm and a plot ratio of 1.4, the gross floor area works out to be 46,840.09 which translate to a land price of about $1,210 per square foot per plot ratio (psf ppr). With a 10-per-cent bonus balcony area, the land price will be lowered to $1,110 psf ppr.
With construction cost, land financing cost, professional/legal/taxes cost, etc. added to the land cost, the estimated breakeven price for the developer is about $1,636 per sq ft per plot ratio. With an initial 15% to 25% profit margin, buyers can expect the units at Forett at Bukit Timah to be priced at around $1,881 to $2,045 per sq ft.
As a reference guide, we have included the expected starting price for you.
|NO. OF BEDROOM||UNIT TYPE||UNIT SIZE||NO. OF UNITS|
|1 Bedroom + Study||AS1a, AS1b, AS2a, AS2b||474 - 495||76|
|2 Bedroom||B1, B2a, B2b, B2c||549 - 603||72|
|2 Bedroom + Study||BS4, BS5a, BS5b, BS6a, BS6b, BS6c||689 - 764||149|
|2 Bedroom + Utility||BHS1a, BHS1b, BHS1c, BHS2||732 - 764||93|
|3 Bedroom||C1a1, C1a2, C1b, C1c, C1d||947 - 980||119|
|3 Bedroom Premium||C3a, C3b, C3c, C4||1055 - 1109||28|
|3 Bedroom Dual-Key||D2DK||1033||29|
|4 Bedroom Premium||D1a, D1b, D1c, D2||1281 - 1356||50|
|4 Bedroom Suite||D3||1442||09|
|5 Bedroom Suite||E||1884||08|
Competitive Market Analysis (New Launch)
(Mar 2019 - Mar 2020)
|PROJECT NAME||TENURE||DISTRICT||AVERAGE SELLING PRICE|
|Daintree Residences||99 yrs||21||$1,651|
|Mont Botanik Residences||Freehold||23||$1,668|
|View at Kismis||99 yrs||21||$1,700|
|Mayfair Gardens||99 yrs||21||$1,933|
|Mayfair Modern||99 yrs||21||$2,033|
|Fourth Avenue Residences||99 yrs||10||$2,393|
Competitive Market Analysis (Rental)
Top 10 Rental Average Per Square Foot Per Month
(Mar 2019 to Mar 2020)
|PROJECT NAME||BUILT||DISTRICT||AVERAGE PSF PER MONTH|
|Suites at Bukit Timah||2014||21||$4.10|
|The Creek @ Bukit||2017||21||$3.60|
|Suites De Laurel||2012||21||$3.60|
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