GuocoLand doing a cupid today..?

By The Folks @PropTalk - February 14, 2015 2 Comments

Trying to match-up buyers with units in their latest project, that is...

According to a report in ST today, GuocoLand is putting out their latest city-fringe project, Sims Urban Oasis located at Sims Drive, on sale today. 

Indicative pricing for the first phase is from $628,000 for a 440sqft one-bedroom unit to $1.48 - $1.55 million for a 990sqft four-bedroom "compact"unit.

The prices translate to a psf equivalent of more than $1,400 for the smaller units and in excess of $1,500 for the larger units. 

The wife and I remembered the $1,400psf number being floated "for discussion purposes" during the concept discussion & feedback session organized by GoucoLand sometime in August of last year. We did say at that time that the number cannot be suggested without prior consideration and more importantly approval from management. Looks like we were correct on that one.

The plot of land that Sims Urban Oasis sits on was acquired by GuocoLand in April 2014 at a price of $687.88psf ppr. Market analysts have estimated then that the break-even cost for the project would be around $1,090 - $1,130psf with a possible launch price of $1,220 - $1,300psf. So the developer looked to have upped the ante by launching the project at a price that is above market expectation. Having said that, we are unsure about what sort of discount GuocoLand will be giving to entice buyers - a 10% discount (which is not unlikely) will bring prices more in line with previous estimates. 

But given the state of the new private home market these days, the wife and I will be especially keen to see what the take-up will be for this project, which even at $1,400psf, is rather over-priced (in our humble opinions as always)...

Click on the link below to read our thoughts after attending the concept discussion for Sims Urban Oasis:

2 comments to ''GuocoLand doing a cupid today..?"

  1. A 990sqf 4 bedders!!??! Omg...the shrinking of size is even worse than HDB!

  2. All in the name of keeping the purchase quantum "affordable" (developer speak)... :-)