Straits Times – Private home prices jump by 3.1% in first quarter of 2018
There have been a lot of conversations involving Singapore’s property market, in fact this year it is expected to extend its recovery from a four-year slump.
After being in recession for more than 4 years, finally the market is showing a significant growth and a new shine at the same time as the economy and the industry are increasing which affects in the best way most of the residential projects that are still under development.
From January to March quarter, private residential property prices jumped up 3.9 per cent from the previous one, surging the most since 2010 and building on the previous quarter’s increasing over 0.8 per cent , data from the Urban Redevelopment Authority (URA) showed.
|Project Name||The Tre Ver|
|Location||Potong Pasir Avenue 1|
|Development type||Private Condominium|
|Land Area||18,711 sqm (approx)|
|Gross Plot Area||2:8|
|Developer||UOL group and United Industrial Cooperation Limited|
|No. of Storeys||8,19,20 storeys|
|Total No. of Units||729|
|TOP date (expected)||Q2 2021|
|Unit mix||1 bedroom to 4 bedroom|
|Car park lots||TBA|
April was a great month for the developers, whom sold approximately 729 units, a little more than the 716 units sold in March, and the highest since November.
Analysts from Goldman Sachs, Morgan Stanley, Credit Suisse, OCBC and DBS have forecast a 5 per cent to 10 per cent recovery in domestic home prices this year.
With all of the local news talking about the strong showing of collective sales in the last few years that have been growing in the property business and often succeed in real estate transactions, The Tre Ver Condo will certainly catch your attention.
This project is at the point of being the only available for redevelopment in Potong Pasir neighbourhood.
Most of the sharp investors should already have noticed the many positive and attractive attributes of the Tre Ver like for example the central locale, along with the connectivity and unblocked views surrounding the residential site, granting a satisfying experience for the upcoming residents.
There are new ideas to propose, the ones marking a change on the way to look at the housing market for the most part are the ones steering towards an environmental and sustainable thought, and the connection between the buildings in the middle of green fields and tall trees, increasing your inner relationship with nature, along with family boundaries and social circles. Also check my review about The Tre Ver Review
The Tre Ver, truly blending the nature with the man-made, being built by the same developer of the Clement Canopy they share some resemblance, but the Tre Ver Shines on its own.
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A Great Location for The Tre Ver
Being locations so important in the real estate market, The Tre Ver condos cannot fall behind in this regard; they add immaculate characteristics of an idealist nature-house-residence, with places near you, as well as a great variety of amenities, making it more desirable for everyone.
The Tre Ver is located in 137 Potong Pasir Ave 3, Singapur 350137 and it will overlook the Kallang River, improving the view from the units by a lot, and it is also not difficult to reach in terms of transport. Education, shopping and dining options are also available around the area.
Google Street View
The Tre Ver Location, showcasing everything that makes it great including amenities, transportation in general and the river
The Tre Ver Location near Woodleigh MRT station, here you can see how close The Tre Ver is to transportation.
The Tre Ver residences are close to Potong Pasir MRT and Woodleigh MRT, as well as the forthcoming developments at the Bidadari Estate, where there will be two community malls and a bus interchange. That is also the location of the Alkaff Lake that will sit in 10 hectares of peaceful and scenic parkland.
The Tre Ver Walking Distance to Potong Pasir MRT, you only need to walk 11 minutes in order to get to the nearest MRT stations which allows you to move through the whole country
The Tre Ver Transportation, bus stops, MRT stations, expressways, The Tre Ver has every ean of transportation within walking distance, making it easier for you to move around whether you move by car or not.
The Tre Ver near Potong Pasir MRT, convenience for transportation is one of the specialities of the Tre Ver condo.
Parks are one of the main advantages of The Tre Ver Location, having Kallang Park Connector nearby, which enables the option of having full alternate recreation activities for the whole family.
It certainly is as exciting as it can be, as the paths connecting the parks will lead you to another area of the island you most likely haven’t visited. Places as the Bishan-Ang Mo Kio Park, travelling up north and the Kallang Riverside Park.
Regarding the educational planning there’s always a school close to home, like the famous Saint Andrew’s which offers holistic education at every level, from primary, to junior college level, fitting right in the neighbourhood being located just a few steps away from The Tre Ver.
Cedar Primary, Pei Chun Public, St. Andrew’s Secondary, Cedar Girls’ Secondary, Bendemeer Secondary and Maris Stella High School are some of the other options to consider in case you have children already on their teen ages.
The Tre Ver near Yangzheng Primary Schools, one of the top primary schools from this area, which provides great education for your children
The Tre Ver near Pei Chun Public School, in Singapore education is a great deal, so even public schools offer top level education when you compare them to other countries
The Tre Ver near Kuo Chuan Presbiterian Primary School, another great primary school for your kids when you decide to move to the Tre Ver
The Tre Ver near St. Gabriel’s Primary School, another primary school to add to the repertoire, again offering great quality of education
The Tre Ver location near Guangyang Primary School, another great quality school where the children of the residents of the Tre Ver can study
The Tre Ver bus going to Woodleigh MRT, if you don’t want to walk to the MRT station, you can just take the bus there and save some time
The Tre Ver Driving Distance to CTE, only 5 minutes, you can wake up as late as you want and you’ll never be late if you need to drive via CTE to your workplace.
The CTE and PIE are both very close to the development, giving it a quick and easy access to all areas of the island, and the 142 bus route, stops just one minute from the site entrance.
Also read: TOP Projects in Singapore
|Type||Area (sqft)||Total Units|
|1-Bedroom (484 – 506 sqft)||Tower Blk||495||66|
|2-Bedroom (614 – 797 sqft)||Tower Blk||614||32|
|2-Bedroom (614 – 797 sqft)||Tower Blk||990||36|
|4-Bedroom (1324 – 1367 sqft)||Tower Blk||1367||17|
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Transportation is a big issue when looking for a Condo in Singapore as it is one of the most important aspects people take into consideration.
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The floor plans are there in every project in development for you to see the exact design and the way every single aspect might influence the atmosphere created for the house, and it also helps you be aware of your needs and intentions towards the development, when it comes to space, proportions, etc
Sometimes, the idea of a floor plan can seem rather unfamiliar with all the strange little symbols everywhere you go, mostly unknown around the buyers, with some exceptions of course.
Limited knowledge does not take away the opportunity for you to be able to count the number of bedrooms and bathrooms. However, with the knowledge of the basic stuff, a buyer can be able to know a lot more.
The Tre Ver Floor Plans are certainly easy to read and I’ll demonstrate that below.
Doors: If you’re looking for a better, wider view of the way the entire unit is laid you have to search and find the main door, which is shown by a symbol of a quarter-circle.
They also allow people to identify if the rooms are going to be connected, for example; if a bathroom door opens in a bedroom, it means you have an attached bathroom.
Another thing you need to look for and pay attention to is the arc of the door as it indicates in which direction the door swings.
Windows: Windows that slide are shown by a thin hollow line in the walls; however, the casement windows are indicated with a symbol similar to doors but drawn in pairs.
Walls: Structural walls are drawn in the floor design with bold lines while the non-structural ones are marked by thin lines.
It’s more common for the walls that wrap around the whole unit to be structural; this is done in case that the owner makes the decision to remove a wall in order to create an open-concept space.
Floor layout: It is important to know how each area is laid out; this is where the aesthetic direction of the developers and architects shows up, and where diverse subjective perspectives get in touch.
So since it is a subjective matter, this is what you need to do in order to know if the unit is fit for you: Imagine standing at the main door and looking at the unit. Do you like the layout? Does it fit your lifestyle? What if it doesn’t? Ask the questions one at a time and answer yourself honestly.
Size: Some of the floor plans have small numbers on the side which tells you the accurate dimension if the unit in millimetres allowing you and your family to get an estimated size for each room.
Shape: Some Floor Plans also indicate the shape of each room. The one with boxy shape is the preferred one as it’s the most versatile type of space.
PES: PES or private enclosed Space is a private outdoor area of the unit. Its size might vary, it can be as small as a ledge that can only fit a potted plant or as large as to comfortably host a dinner party.
Maid’s Room: Larger units often have a Maid’s room. It is located near the kitchen with a small bathroom. Families with a live-in help can check for this in a floor plan while buying.
Cupboards: Floor plans help you find out if there is a build in or walk in cupboard in the unit.
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Easy Payment Schedule Of The Tre Ver
Payment schedule for The Tre Ver is as follows:
Booking the property & Signing of Sale and Purchase Agreement
you will have to pay a 5%booking fee (Cash/ Cheque) and the Option to Purchase (OTP) will be granted.
The “Developer” will then mail the Sale and Purchase (S&P) Agreement to your banker’s solicitor or to you.
After receiving the S&P you will have to check the date in it as you will be given only 3 weeks from that date to proceed with the S&P.
Within 8 weeks
from the day the option money is paid, you will have to pay the remaining 15%.
You can use your CPF to pay for this and any remaining shortfall will be paid for by Cash.
It is very important that you understand and write down this schedule especially if your CPF does not have enough to cover the amount needed to prepare the necessary Cash if it’s necessary to pay a shortfall
Sales Completion Date
Also you should remember that this amount will depend on your LTV (Loan To Value), e.g. if your LTV is 70% then the balance amount to be paid is 25%, 15% to be paid on exercising day, balance 10% will be paid by progressive stages
(Example foundation work completed).
Stamp Duty (3% less $5,400, Cash/CPF outlay) | Additional Stamp Duty (% of the Purchase Price)
Within 14 days of signing the S&P agreement (or within 30 days if the agreement is signed overseas), you will have to pay the Stamp Duty (3%) / Additional Stamp Duty (5% – 15%) (Cash/CPF outlay) to IRAS (Inland Revenue Authority of Singapore).
Progress Payments using Housing Loan
From this point onwards, you can start using funds from your housing loan, which can be up to 80% of the purchase price.
The tenure of the loan can be up to 30 years, depending on your age. You will have to make payments as follows:
- 10% upon completion of foundation work (Estimated 6-9 months later from work commencement)
- 10% upon completion of reinforced concrete framework of unit (Estimated 6-9 months later)
- 5% upon completion of brick walls of unit (Estimated 3-6 months later)
- 5% upon completion of roofing and ceiling of unit (Estimated 3-6 months later)
- 5% upon completion of electrical wiring (without fittings), internal plastering, plumbing and installation of doors and window frames of unit (Estimated 3-6 months later)
- 5% upon completion of completion of car park, roads and drains serving the housing project (To be advised)
- 25% upon receiving Notice of Vacant Possession and Temporary Occupation Permit (TOP), and the last 15% upon Completion Date, when you receive your CSC (To be advised).
The Clement Canopy will certainly be one of the most beautifully designed properties in Singapore, featuring incredible looks and environmentally friendly functionality as well as an advantageous location and proximity to transport.
On top of that we can add the caliber of its developers UOL and SingLand which will certainly make sure that the property is as high end as it needs to be to have a place inside their impressive portfolios.
When Clement Canopy is finished it will most likely be a candidate to win an award for design and sustainability as well as for having zero negative impact in its constructions zone, which in turn will increase its market value and help smart investors secure their profit.
Also read: Property Taxes in Singapore