West Coast Vale is a residential site that has received mixed views by property analysts.
Some analysts are of the opinion that the site will receive a positive response based on the shortage other development sites.
On the other hand, some experts in the real estate sector believe that the Parc Riviera condominium which was launched back in December 2016 is set to slow things down.
The Urban Redevelopment Authority released the 1.64 ha West Coast Vale under the Government Land Sales program’s falling under the confirmed list for the second half of the year 2016. The project is set to house a total of 520 residential condominium units.
It is highly anticipated that the project will have up to a maximum of ten bidders with the top bid per square feet per plot ranging between S$529 – S$600.
“With the frontage being exposed to the park connector and to Sungei Pandan, the buyers of the property will definitely get to enjoy the private atmosphere created by the enclosure”, said Ong Teck Hui.
“Amenities like the hotels, restaurants, malls and other facilities are all within reach but the MRT stations are a bit far”, he further added.
He said that he expected the bids to be favorable if not the best something he was attributing to the good prices in terms of private home and buyers interest in higher risks developments.
In the contrary, there are those experts who hold not so positive views since they perceive that the location is not that attractive enough to attract potential investors.
“There is particularly less interest in Parc Riviera condo since it has not attracted any potential investors“, said Mak SLP international executive director Nicholas.
Cushman & Wakefield has estimated lower bids of around $450 – $500 psf ppr for West Coast Vale residential site which is lower compared to the bids of Parc Riviera by EL Development at S$ 551 psf ppr.
“Owing to the distance of some of the various amenities including the MRT Stations the project has been priced between $1000 – $1,100 psf”, Christine Li further added.
According to Mr. Li in order to ensure that West Coast Vale performs better compared to Parc Riviera and the Trilinq that are viewed to be offering stiff competition then the prices need to be the best in terms of the bids.
If you would like to make an appointment to view the Parc Riviera showflat, please dial 61001778.