The Tapestry Condo Price – Land Price By CDL

Land Parcel LocationTender Launch Date/ Close DateSite Area (sqm)/ Max *GFA (sqm)Tenderer’s NameHighest Bid ($)/ Award Date$PSM of GFA
Tampines Avenue 10 (Parcel C)14 MARCH 2017 / 25 APRIL 201721,717.7 m2 / 60,810 m2Bellevue Properties Pte. Ltd.$370,100,000$6,086.17
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The Tapestry Condo Price – Developers Bid

Tender RankingName of TendererTendered Sale PriceTENDERED SALE PRICE IN $PSM OF GFA
1Bellevue Properties Pte. Ltd.370,100,0006,086.17
2Kingsford Development Pte Ltd350,000,0005,755.63
3Qingjian Realty (Residential) Pte. Ltd345,000,0005,673.4
4Nanshan Group Singapore Co. Pte Lt327,931,6065,392.72
5Greatview Investment Pte Ltd327,780,0005,390.2
6CSC Land Group (Singapore) Pte. Ltd.322,699,9885,306.69
7EL Development Pte Ltd308,000,0005,064.96
8Sim Lian Land Pte Ltd282,800,004,650.55
9CEL Real Estate Development Pte. Ltd.278,189,004,574.72
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The Tapestry Tampines Condo Price – Nearby Condo Prices

Condos Around District 18 (Tampines Ave 10)Average PSF For The Past 6 Months TransactedImplied Rental Yield
The Alps Residences$1,085.30Under Construction
The Santorini$1,032.402.93%
Q Bay Residences$1,155.902.94%
Waterview$977.602.90%
Archipelago$1,236.102.89%
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The Tapestry Condo Price – Estimated Launch and Guide Price

How is the property price for The Tapestry Condo estimated?

The developer’s launch price for The Tapestry Condo entirely depends on some factors. Just like how the market behaves, the price of every factor in the development of the unit gets affected as well. When the land prices increase during the period between the launch date and the tender award, the developers have every right to change the price. This price will also dictate the profits that they are going to reap after. The same can be said when the price in the market goes down. The profit margin of the developer gets squeezed in where the land prices constantly decrease. It is also within their power to change it according to how they see it – the price that is affected by the market and the analysis that they have in regards to how they can take advantage of it. They also adjust the price so that they remain competitive against their competitors.

Keep in mind these common factors that affect the developer launch price:

  • Construction costs,
  • Finance costs,
  • Marketing and sales expenses,
  • Profit margin,
  • Others miscellaneous
  • Add these all up, and you will get the selling price. This is also how buyers compute when they are looking for condo units.

What is the launch price used for?

The launch price is used as references for the buyers’ budget. If they find that the launch price is within the budget that they have set aside, they will consider the unit and look further or take the unit right away. However, for some people, they’d prefer to wait and see whether or not the launch price might change.

For some buyers through, they have this misconception that the launch price indicates the quality of the condo unit itself. The cheaper the condo unit, the worse its condition is going to be. It is only natural for people to see that the lower price means that it compromises its value, given their consumerism attitude. However, with the developer launch price, this is only designed as a reference for buyers to compare it with their budget. It doesn’t have anything to do with the quality of the unit at all.

However, you mustn’t dismiss the cheapest or most expensive units right away. Take the time to research whether or not the unit itself is worthy to buy.

$psf
Land cost$565
Construction cost$350
Expenses and profit margin$274
Estimated launch price$1,190
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