The Tapestry Condo Price – Land Price By CDL
|Land Parcel Location||Tender Launch Date/ Close Date||Site Area (sqm)/ Max *GFA (sqm)||Tenderer’s Name||Highest Bid ($)/ Award Date||$PSM of GFA|
|Tampines Avenue 10 (Parcel C)||14 MARCH 2017 / 25 APRIL 2017||21,717.7 m2 / 60,810 m2||Bellevue Properties Pte. Ltd.||$370,100,000||$6,086.17|
The Tapestry Condo Price – Developers Bid
|Tender Ranking||Name of Tenderer||Tendered Sale Price||TENDERED SALE PRICE IN $PSM OF GFA|
|1||Bellevue Properties Pte. Ltd.||370,100,000||6,086.17|
|2||Kingsford Development Pte Ltd||350,000,000||5,755.63|
|3||Qingjian Realty (Residential) Pte. Ltd||345,000,000||5,673.4|
|4||Nanshan Group Singapore Co. Pte Lt||327,931,606||5,392.72|
|5||Greatview Investment Pte Ltd||327,780,000||5,390.2|
|6||CSC Land Group (Singapore) Pte. Ltd.||322,699,988||5,306.69|
|7||EL Development Pte Ltd||308,000,000||5,064.96|
|8||Sim Lian Land Pte Ltd||282,800,00||4,650.55|
|9||CEL Real Estate Development Pte. Ltd.||278,189,00||4,574.72|
The Tapestry Tampines Condo Price – Nearby Condo Prices
|Condos Around District 18 (Tampines Ave 10)||Average PSF For The Past 6 Months Transacted||Implied Rental Yield|
|The Alps Residences||$1,085.30||Under Construction|
|Q Bay Residences||$1,155.90||2.94%|
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.
|Expenses and profit margin||$274|
|Estimated launch price||$1,190|
Watch EdgeProp video on S P Setia on Tendering on Toh Tuck Road