According to sources, it is noted that Wandervale EC will launch with an average pricing of around $750 – $770 psf. This makes it one of the more affordable ECS in the west considering that there are other ECs selling at a higher pricing compared to Wandervale EC.
Wandervale Sim Lian Pricing
Based on the bid price of the land, analyst think that the break even price for Wandervale after taking into consideration the costs of construction is $700psf. Assuming Sim Lian sells at $750 – $770 psf, the developer’s profit will be around $70psf which is healthy considering that the EC market is under challenge lately.
Sim Lian Land has submitted a bid of $353.21 psf ppr which is only 2.2% higher compared to the next highest bid which is from Hoi Hup Realty which suggest that many developers are optimistic about the plot of land. Indeed, Wandervale is located just 600m away from Choa Chu Kang MRT and this makes it one of the cheapest EC that is close to a MRT Station. Analyst are also surprised by the total number of bids received. There were a total of 8 bidders compared to the 5-6 expected which suggest that developers are still hungry for land and Wandervale EC should be considered an ideal plot of land for EC development.
Sim Lian’s Pricing on Wandervale EC
The number of bidders also surprised analysts given that there was not much bidders for Sembawang Avenue EC which is also around 500m from Sembawang MRT which suggest that developers are more confident in Choa Chu Kang compared to Sembawang. Also, previously, Skypark Residences was launched before and most of the buyers who have bought an EC unit in the Sembawang have already bought a unit and the demand for the next EC might be less than ideal.
|Type||Size||Indicative psf||Indicative Pricing|
|3 Bedroom||958sqft||$750 – $770||$720K – $$737K|
|3 Bedroom Premium||1087sqft||$750 – $770||$815K – $836K|
|4 Bedroom||1249sqft||$750 – $770||$936K – $961K|
A gentle note that the above pricing are just estimated based on the the indicative price per square foot and is by no means a formal guide. The pricing will be out a couple of days before the actual launch date.