Parc Botannia is a brand new condominium to be collectively developed by Sing Development and Wee Hur development. It is worthy to take note of the experience both developers have with more than 3 decades each. The new Fernvale condominium is located on a 99 years lease site measuring 17,196.4 square meters in District 28. Inspired by vacant lands, landed homes and private condo(High Park Residences), the Parc Botannia location is impeccable where dwellers get to enjoy the exclusive environment and yet close to heartlands with convenience in your door step.
What to expect
Expected to yield approximately 735 residential units, a 14 developers were attracted by the Parc Botannia Fernvale site with among the bid battle in history according to URA. The very best bid submitted by Sing Development and Wee Hur development is a mere 0.005 percent greater than second place China Construction development who submitted a bid of $289.09 million. Third position has been Allgreen Properties at $286.9 million that is only 0.07 percent lower than the top bidding. Other bidders include the likes of Treasure and MCL Land view among the rest. In reality, industry pros is expecting a high bid of $272 million however, the best four bids currently has a minimum of $280.43 million, confirming the bullish market sentiments among the programmers.
At $287.1 million, the best bid equates to $517.03 per square foot per plot ratio(psf ppr) and the expected Parc Botannia psf should be in the array of $1050 to $1200. Sitting right next to the top selling launch experts predict the take up demand to be extremely healthy considering the prior sold over 1000 units on the launch day itself.
With a higher land price at High Park Residences, the Parc Botannia cost is expected to become steeper as the launch left buyers disappointed when the more streamlined units were sold out first.
The Northeast area of Singapore has witnessed a great number of interests since its personal and even EC launching in the previous 2 years. Projects like The Terrace EC and Ecopolitan EC @ Punggol, The Vales EC, Treasure Crest EC and Bellewaters EC @ Sengkang, High Park Residences condominium, Riverbank @ Fernvale condominium, Rivertrees condo @ Sengkang all witnessed magnificent sales results whereby all are offered in 2017. With totally no new supply it’s safe to state that Parc Botannia Singapore will draw on a tremendous amount of attention from buyers anticipating in the sideline.
The Parc Botannia TOP date is approximately between third to fourth quarter of year 2020 where buyers are able to move in or rent out after flaws.
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