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1. Written by News on 09-09-2009 03:35
 
 
Another 50 Trevista units snapped up
NTUC Choice Homes sold another 50 units at its ToaPayoh condo Trevista over the weekend, taking the total number of units soldthere to 460. The remaining units at the 590-unit condo are mainly larger ones – continuing a trend where buyers snap up smaller homes. Trevista attracted hordes of keen buyers and onlookers at its preview two weekends ago. It sold out 210 units in one afternoon, on the firstpreview day of Aug 28. Most of the unsold units at the 99-year leasehold project are the three- and four-bedroom units. An NTUC Choice Homes spokesman said there are just ‘a handful’ of two-bedroom units left for sale. The 39-storey condo was previewed at an average price of $898 per sq ft. At that time, the three- and four-bedroom units averaged $1.065 million and $1.43 million respectively, under the normal payment scheme. Now, the remaining three-bedders are priced from $1.008 million. They cost $884 psf to$1,050 psf. The four-bedders are priced from $850 psf to $964 psf, or from $1.448 million. 
 
The market was generally quieter over the past weekend, compared with the previous one. Property agents said one factor might be people going away for the school holidays. Also, they said some price resistance may be setting in, particularly at projects subject to recent price rises.
 
2. Written by News on 02-09-2009 00:48
 
 
410 units snapped up
NTUC Choice Homes has sold 410 of the total 460 units it released for the preview of its Trevista condo in Toa Payoh last week. The co-operative is expected to release more units in the 590-unit project this weekend when it does an official launch, accompanied by an advertising campaign, for the project. 
 
Singaporeans picked up 87 per cent of the total 410 units. Permanent residents made up 7 per cent and non-PR foreigners, 6 per cent, of buyers. 
 
The majority of PRs and non-PR foreigners were from China; some were also from Indonesia and Malaysia; there were also a few Swiss nationals, an NTUC Choice Homes spokeswoman said. 
 
She said 70 per cent of the buyers have HDB addresses and the other 30 per cent, private addresses. 
 
About 80 per cent of buyers purchased on the normal progress payment scheme. The remaining 20 per cent who opted for interest absorption scheme are being charged a 2 per cent price premium, the Choice Homes spokeswoman said. 
 
When sales in the 99-year leasehold condo began on Friday morning for the first batch of 210 units, the average price was $898 per square foot, but with two subsequent batches of additional units released, prices were adjusted marginally upwards, although this also had to do with the newer units being on higher floors and having better orientation. 
 
The average price currently is understood to be around $920 psf. 
 
What’s left are a limited number of two-bedroom units, with the majority of what’s available being three- and four-bedroom apartments, BT understands. The remaining 130 units in the condo are expected to be released this weekend and they include prime pool-fronting units.
 
3. Written by News on 28-08-2009 21:20
 
 
Initial phase at $898 psf
NTUC Choice Homes Co-operative is pricing the initial phase of its Trevista condo at Toa Payoh, which previews today, at an average price of $898 per square foot. This is about 20 per cent lower than Far East Organization’s Centro Residences next to Ang Mo Kio Hub, priced at $1,150 psf on average and released last month. 
 
However, as Trevista’s units are generally larger than Centro’s, the price differential in absolute terms may be less. 
 
Far East has sold only about 100 units – an outcome some market watchers see as due to price resistance. 
 
Both projects are on 99-year leasehold. 
 
Trevista is near Braddell MRT Station and within walking distance of shopping and other amenities at HDB Hub and Toa Payoh Central. Centro, a 34-storey project with 329 units, is right next to Ang Mo Kio Hub and opposite Ang Mo Kio MRT Station. 
 
The $898 psf and $1,150 psf average prices for the two projects are for normal progress payment schemes. Buyers who opt for the interest absorption scheme will pay 2 per cent more at Trevista and 4 per cent more at Centro. So far, none of Centro’s buyers has opted for interest absorption. 
 
NTUC Choice Homes said yesterday that the absolute price quantums at Trevista on average are about $830,000 for a two-bedroom unit, $1.065 million for a three-bedder, and $1.43 million for a four-bedroom apartment, on a normal progress payment scheme. 
 
The developer is releasing 210 units this weekend, comprising mostly two, three and four-bedroom apartments. The project has a total of 590 units in three 39-storey towers. 
 
Choice Homes has invited business associates, NTUC union members and members of the public who have registered interest in the project for today’s preview. The co-op is extending special benefits to union members for a ‘limited period during the preview’. 
 
Each member who buys a Trevista unit will be given 55,000 LinkPoints as well as one of three other benefits, each worth up to $6,000 – a free NTUC Income Mortgage Protection Plan; an integrated fridge; or a family cash rebate for union members living near their parents or children residing in Toa Payoh or for multiple family-purchases of units. 
 
Trevista is being marketed by CB Richard Ellis and ERA. 
 
Over in the Mount Sinai area, Singapore Land is previewing its freehold Trizon condo this weekend at between $1,300 and $1,500 psf. However, prices are likely to be lower for ground-floor units with private enclosed space.
 
4. Written by News on 29-08-2009 21:15
 
 
Buyers snap up flats
320 of 590-unit project taken up; co-op to release more at weekend 
 
IF it’s priced attractively, it still sells. Hungry home buyers yesterday bought around 320 units at the 590-unit Trevista condo in Toa Payoh. 
 
By around 3pm yesterday, buyers were said to have snapped up some 190 of the total 210 units released in the first phase of the preview, resulting in developer NTUC Choice Homes Co-operative releasing a further 190 units in the early evening to satisfy demand. BT understands that the price was raised by about 2-3 per cent for the second batch from the initial phase’s average price of $898 per square foot (psf). However, some of the price gain also reflects the fact that units in the second batch are on higher floors and have better orientation. 
 
While many people will baulk at this price for a 99-year leasehold project, what has been drawing buyers to Trevista is that the psf pricing is about 20 per cent lower than the closest competition from a comparable recently launched project – Far East Organization’s Centro Residences next to Ang Mo Kio Hub, which was released last month at an average price of $1,150 psf. However, Trevista’s units are generally bigger than Centro’s so in absolute dollar quantum per unit, the price difference between the two projects may be less. 
 
The smallest units at Trevista – studios and apartments with one bedroom plus study – were the first to sell out yesterday. Some agents were seen armed with blank cheques from clients keen to secure the better units and who had given them authorisation to book units on their behalf. 
 
Choice Homes CEO Margaret Goh had noted on Thursday that Trevista is the first private condo to be launched in the mature Toa Payoh estate since 1996. That was when City Developments Ltd launched the freehold Trellis Towers at an initial average price of $900 psf, according to newspaper reports at the time. 
 
With 400 units or two-thirds of the total units in Trevista released by yesterday evening, Choice Homes stopped issuing queue numbers after 9pm and told those streaming into the showflat site to return the next day. 
 
The co-op is expected to make further units available over the weekend to cater to demand. Trevista comprises a total of 590 units in three 39-storey towers. It is being marketed by CB Richard Ellis and ERA. 
 
Developers sold 10,017 private homes in the first seven months of this year – more than double the 4,264 units in the whole of 2008 when home buying dried up due to the global financial crisis. The unexpectedly strong sales pick-up since February this year came about after developers cut prices. However, they have since been raising prices for some projects – and that has resulted in generally slower take-up.
 
5. Written by News on 22-08-2009 03:22
 
 
Preview soon
Next week, NTUC Choice Homes will preview its 39-storey Trevista condo in Toa Payoh. The 99-year-leasehold project will have a total of 590 units.
 

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