Forest Woods Condo | ForestWood Residences

Forestwood Residences . 5 Mins Walk to Serangoon MRT Station & NEX Mall

Forest Woods is a new condominium that occupies a very attractive location in the Upper Serangoon Road area. By one of the top developers, City Developments.

Part of its attractiveness lies in the fact that it is barely 5 minutes walk from the Serangoon MRT interchange Station on the North East & Circle MRT Lines, and from Nex mega mall. Forestwood Residences is looking to launch for sale in September 2016.

Forest Woods Condo :: The Forestwood Residences Condominium

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The Forest Woods condo site is sandwiched between Lorong Lew Lian & Paya Lebar Road, one of the most established residential estates in Singapore. In fact, to the north and south of the site, are mainly low rise landed houses.

So there should be good wind flow, and a feeling of spaciousness for the site.

The Forestwood Residences site is bordered on the north by a viaduct. But given CDL’s extensive experience in developing all sorts of sites, and strong reputation for good design, the site layout will mitigate that.

Of course if you book your Forestwood Residences unit early, like at the VIP Preview, then you can probably get to pick a unit in a very nice part of the site. Do contact us to be kept posted on Forest Woods condo if you would like to invest, or live here.

 
Forest Woods Condo :: The Forestwood Residences Location Plan @ Lorong Lew LianForest Woods Condo | Forestwood Residences . 230m to Serangoon MRT Station . Click to Enlarge

 
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Forest Woods Condominium | Forestwood Residences Highlights

Summary of why the Forest Woods condo is attractive:

  1. Located less than 5 minutes’ walk from Serangoon MRT interchange station, that connects the North-East line & the Circle Line.
  2. The Forest Woods site is barely 6 minutes walk to Nex megamall, the biggest shopping centre in the North-East region of Singapore. You can get groceries & food round the clock, from the 24 hour Cold Storage & NTUC Fairprice Xtra supermarkets there. As well as a wide array of shops and F&B outlets, plus a public library, as well as cinema.
  3. The Paya Lebar area enjoys firm ongoing demand from homebuyers and investors. The most recent launches in Paya Lebar are pretty much sold out: Bartley Residences by Hong Leong (sister company to CDL) is 100% sold; Bartley Ridge also by Hong Leong is 99% sold; Botanique @ Bartley is over 95% sold. Forestwood Residences is already drawing keen interest, and is expected to be popular too.
  4. As for the Upper Serangoon area around Serangoon MRT station, there has not been a condo launch for many years, except for Jade Residences, a small project that is also sold out. So there is pent up demand here that augurs well for the Forest Woods condo launch.
  5. The closest new launch is Stars of Kovan, one train stop further from town, at Kovan MRT Station. However that is a mixed development with shops on the ground floor, which is not to everyone’s liking.
  6. The Forest Woods condo site enjoys easy access to major expressways like the CTE & KPE.
  7. Forestwood Residences is a mid size project with just around 500 units. A very nice size – big enough to support all the necessary facilities without an onerously high monthly maintenance fee, yet not so big that the place becomes too crowded and busy. The kind of size that encourages neighbourliness and a cosy ambience, great for families.
  8. The Forest Woods condo is being developed by a leading developer, City Developments (CDL), with a solid and long track record of numerous quality homes. Those who have bought CDL property before, tend to look for CDL projects when buying again.

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Forest Woods Condo · Showflat Viewing · VIP Preview

Please register here if you would like to be kept updated on Forestwood Residences.

Good chance for early birds to pick a nice unit here.

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Forest Woods Condo | Latest Updates

Forest Woods Condo Update :: 19 August 2016
The unit types and sizes have been released. See below.

Also, a sneak peek of the design, as seen in the City Developments 1st Half 2016 Analyst Report.

Forest Woods Condo . Road ViewSneak Peak of the Forest Wood Condominium Design

Forest Woods condo will be set out in 7 blocks of 12 storeys. As seen from the artist’s impression, it displays the strengths of a typical Hong Leong / CDL design: towers separated from the roads by greenery, a very attractive clubhouse and gym, and lovely landscaping.

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Forest Woods Condo · Unit Type Mix

UNIT TYPE ESTD SQ FT ESTD SQ M NO. OF UNITS % OF PROJECT
1 BEDROOM + STUDY 490 – 530 45 – 49 69 13%
2 BEDROOM 590 – 810 55 – 75 38 7%
2 BEDROOM + STUDY 630 – 760 58 – 70 76 15%
2 BEDROOM + STUDY (PREMIUM) 720 – 870 67 – 81 88 17%
3 BEDROOM 710 – 1100 66 – 102 133 26%
3 BEDROOM (PREMIUM) 970 – 1160 90 – 108 59 11%
4 BEDROOM 1230 – 1450 114 – 135 53 10%
PENTHOUSE (5 BEDROOM) 2050 – 2570 190 – 238 3 1%
TOTAL NO. UNITS 519

The Woods Square condo unit mix bears further testimony to the wealth of experience that CDL / Hong Leong has in developing residential projects, and it’s ability to read the requirements of the local market very well.

It is a good spread, not too over or under-supplied in any particular type. However, if the most recent launch, at Lake Grande, is any gauge of current buyer demand, then the 1 bedroom + study, and possibly the 2 bedroom units, could do well on the launch day itself.

The Upper Serangoon / Paya Lebar area is also very much an owner occupied area, so the 3 and 4 bedroom units could garner good demand at the launch too.

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FOREST WOODS CONDO LAUNCH · SHOWFLAT VIEWING · VIP PREVIEW

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Forestwood Residences Launch

Forestwood Residences Launch . Land Sale Pricing

A consortium of Verwood Holdings, Intrepid Investments & TID Residential won the URA (Urban Redevelopment Authority) land sale for the Forestwood launch site with a bid price of $321 million. This works out to $7,641.95 per sq m, or $710 per sq ft (psf) of gross floor area for the land itself.

Another JV, of Singland Homes & UOL Venture Investments, came in 2nd with a $312,880,000 bid, just 2.6% lower. In 3rd place was a Frasers Centrepoint venture, FCL Topaz & Sekisui House, at $311,109,800, barely 0.5% below the 2nd placer.

The closeness of the top 3 bids seems to indicate a consensus as to the value of this site. It is a good sign, as buyers will not end up paying a premium, but rather what is fair value in today’s market.

URA announced the results of the tender on 5 November 2015. A total of 11 developers put in bids for this 99-year leasehold site.

The high number of bidders shows there is healthy demand from developers, said Mr Nicholas Mak, executive director of Research & Consultancy at SLP International Property Consultants.

One possible reason for the relatively high number of bids is the attractive location of this site in the North-East region. It is close to Serangoon MRT Station, which is an interchange station, and NEX, a regional shopping mall,” he said.

Furthermore, developers may want to replenish their land banks given the subdued markets, and the absolute price quantum of this site might be within the range of quite a few large-sized developers & consortiums,” he added.

Bartley Ridge :: By the same consortium developing the Forestwood Residences launchBartley Ridge by CDL’s Verwood & Hong Leong’s Intrepid & TID . Developers for Forestwood Launch

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Forestwood Residences Launch · Pricing Analysis

Verwood Holdings (CDL subsidiary), and Intrepid Investments & TID Residential (subsidiaries of Hong Leong)’s winning bid for the Forestwood launch site can likely be traced to its confidence in the District 19 property market.

Mr Ku Swee Yong, chief executive of property firm Century 21, said that CDL & UOL know the location and its market dynamics well. Both have recently successfully launched, and are close to selling out projects in the Bartley area just one MRT station away, and have a finger on the pulse of demand here.

Assuming construction and overhead costs of about $400 PSF, Mr Mak estimated the break-even cost for the Forestwood Residences launch to be roughly $1,110 to $1,150 PSF.

This could possibly work out to a selling price of anywhere from $1,350 to $1,450 PSF, depending on the unit size and facing.

Note: As in all condo pricing, the average price usually pertains to the mid-size units, like 3 and 4 bedders. Smaller units are typically priced above the average PSF for a project. For example, one bedders would be priced at least 12% to 20% above that.

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Forestwood Residences Launch · Market Analysis

In the event we are awarded the site, CDL will explore a condominium development of between 12 & 13 storeys with over 500 units. Apartments on higher floors will enjoy good views across the landed housing enclave,” CDL said after the provisional tender results.

For a comparative market analysis of nearby projects, here are the most recently launched developments in the vicinity and their average pricing:

1) Stars at Kovan . Average $1,417 PSF . At Kovan MRT slightly further from town
2) GEM Residences . Average $1,426 PSF . At Braddell MRT station
3) Poiz Residences . Average $1,425 PSF . At Potong Pasir MRT station

UOL launched Botanique @ Bartley MRT about 2 years ago and have almost sold out the project at around $1,300 PSF. However it is in a less desirable location, as unlike the above projects it is not within walking distance of a fair size shopping centre.

See this link for the news report for the tender results (opens in new window).

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FORESTWOOD RESIDENCES LAUNCH · SHOWFLAT VIEWING · VIP PREVIEW

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Forestwood Condo | Site Characteristics & Neighbourhood

Forestwood Condo · Site Analysis

Here is an analysis of the Forestwood condo site location, orientation and surroundings, to help you in your selection of a unit.

Forestwood Condo . Location & Neighbourhood

The site itself is a nice size, about 150,000 sq ft. Tilted in a roughly north-east / south-west direction; or north-west / south-east orientation, depending on which angle you look at it.

Bounded by Lorong Lew Lian (where the main entrance will be) on its south-west, Upper Serangoon Road on its north-west flank, Upper Paya Lebar Road on its north-east, and rounded off by Jalan Chermat, a small lane on its south-east.

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Forestwood Residences

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Forestwood Residences 1.351515, 103.876805 Forestwood Residences

Forestwood Condo Location . Click on the grey icon at top right to change to other map types

 
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Forestwood Condo · Neighbourhood

The South West Side
The main entrance to the Forestwood condo will be from Lorong Lew Lian. This is a minor road, across which is a small HDB estate. Pros & cons to this: not a fantastic view to look at, but the HDB flats do help to block out some of the late afternoon sun. Not much road noise from this side.

The North West Side
Upper Serangoon Road bounds this side, and it is a rather busy road. On top of that is a viaduct (see photo above) which carries through traffic and helps to alleviate jams at the traffic junction below. Expect traffic noise from this side. Also the west sun.

The main advantage is that, looking this way, views from higher floors will be unblocked for quite a distance. Not only is Upper Serangoon Road a very wide road, but across it, is a church and the landed housing estate of Joon Hiang Road & Recreation Road.

The North East Side
Flanked by Upper Paya Lebar Road, which is another rather busy road. Expect traffic noise on this side too. But if you can live with that, the advantage is that this side does not get the west afternoon sun, and it is relatively open, as the road is pretty wide here too.

The South East Side
This side of the Forestwood condo faces the 2 to 3 storey landed houses along Jalan Chermat. No major road or afternoon sun here. It is also pretty much unblocked, at least as far as the 2 rows of houses along Jalan Chermat is concerned.

But note that beyond these 2 rows of houses, is the 10 storey high Cherry Hill condominium. So if you really must have a further view, then get units above the 10th floor.

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