Tag Archives: forestwood condo

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 / October 2016.

Forest Woods Condo :: The Forestwood Residences CondominiumArtist’s Impression :: Forest Woods Condo :: Forestwood Residences :: Click to Enlarge

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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, and a 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.

Forest Woods Condo :: Adventure ZoneArtist’s Impression . Forest Woods Condo . Adventure Zone

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Forest Woods Condo · Showflat Viewing · Information

Please call 9633 8633 or email us for information or showflat viewing, and we will revert shortly.

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OTHER DEVELOPER LAUNCHES

Park Place Residences :: New Residences for Sale in Mixed Development . 429 apartment units with full condominium facilities . At Paya Lebar Quarter commercial centre

Grandeur Park Residences . New Condominium launching 1st / 2nd Quarter 2017 @ Tanah Merah MRT Station . In private housing belt fronting low rise housing

Seaside Residences launching March / April 2017 . Register here for the Seaside Residences price list & floor plans & other details . 15 minutes drive to Marina Bay, CBD & Changi Airport

New Martin Place condo launching July / August 2017 . Drop your details here for the Martin Modern price brochure & other updates . 10 minutes drive to Raffles Place and Shenton Way . Walk to Robertson Quay & Orchard Road

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.

Forestwood Residences Launch . Forest Woods Condo LaunchArtist’s Impression . Forestwood Residences Launch . Forest Woods Condo Pool

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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

Please register here to receive updates on the Forestwood launch pricing once available.

(Fields marked with * need to be filled in. We respect your privacy and will not spam you.)

Name *
Email *
Phone *
You want to  Register for VIP Preview
 View showflat
 Request full set of floor plans
 Just want information to explore options
 Keep you posted on other new launches as well
After clicking, please see below for status


::

OTHER DEVELOPER LAUNCHES

Martin Modern condo launch by GuocoLand Limited in District 09 . Walking distance to Orchard Road and Great World City . VIP Preview and Showflat viewing in mid 2017

Queens Peak condo . New Condominium development at Queenstown MRT Station . Along Alexandra View on fringe of Orchard Road & Tanglin precincts

Paya Lebar Quarter . New Mixed Development @ Paya Lebar Interchange MRT Station . Direct developer sale by Lendlease & ADIA . Singapore