Another impressive record for the residential units sales in the red hot property market. Earlier this month, 85% of the units in Twin Vew (520 units) were sold off within 1 weekend at an average price of S$1,399psf.
Despite the hefty price tag, buyers rushed in to grab units as the adjacent plot had been acquired by City Development Limited ("CDL") for a significant premium. CDL's bid for the West Coast plot of land of S$800 psf ppr was actually 35% higher than the S$592 psf ppr paid for by CSC Land Group for its Twin Vew project.
This translates to forecasted breakeven of S$1,400psf - S$1,500psf for the CDL new launch in 2019 next year. Since this is CDL, selling price would be expected to be S$1,500psf. Hence for current prospective buyers of Twin vew, one of the key selling points by the property agents is that S$1,399psf is relatively cheaper than the upcoming CDL launch.
The other key selling points would be the new educational institution site reserved by the Masterplan for the plot of land directly next to it as well as the close proximity to the upcoming High Speed Railway Terminus Station at Jurong East.
Personally, I like the Sungei Pandan Reservoir and park view around the area. This is a good home with good amenities nearby. Twin Vew is also very specially designed by the developer such that the 2nd level units started off 7 metres off the ground floor with high lobbies built enabling 100% landscaping. Beautiful project developed by CSC Land Group for their maiden residential development project in Singapore.
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