10 Reasons Why You Cannot Miss Twin VEW
Along West Coast Vale, a quiet, serene and tranquil estate that is less than 2 kilometers from the Future Second CBD in Singapore, lies a new condominium that will be opening its doors to interested investors and home-seekers towards the end of April. Here are 10 reasons why you cannot afford to miss Twin VEW.
1. MARKET UPTREND
For the past 4 years, the property market has been on a downtrend, with transaction prices hitting a record low. However, from the 3rd Quarter of 2017, property price index posted its first increase and to date, we are still seeing an uptrend in the price index. The current en-bloc frenzy that is happening across Singapore goes to show that developers are stockpiling on land for developments in the near future, which also indicates the developer’s confidence in the market. But how does this affect you, the consumer? To better understand this, we need to look at the common worries during both trends.
Will prices continue dipping?
Will value of property decrease?
If upgrading from existing property, will it be difficult to find a buyer?
Is it expensive now?
Will there be new cooling measures to control the market?
Which category of worries would you rather have? The worries of the downtrend or the worries of the uptrend? It is definitely better to have the worries of the uptrend. The worries of the downtrend is about losing money whereas the worries of the uptrend is about increased prices. Since property prices are increasing during an uptrend, you are potentially looking at a paper gain unless you are entering toward the end of the boom. To put it simply, it is better to buy when the property market is moving up, but it is the best time to buy, when the property market has just started to pick up. Twin VEW is one of the first few newly launched condominiums in Singapore since the property market uptrend, and the only one that is right next to Singapore’s Future Second CBD.
What increases the value of a property? Is it the location, or the future transformations that is going to take place in the future? Property prices in Serangoon (District 19) used to be in the $450 psf price range consistently for several years. However, in 2011, when the North-East Line, Circle Line and the NEX shopping mall was developed, property prices went up to $1.141 psf.
Here are 5 Major Transformation, as announced by the Government, that is happening right next (Within 2km) to Twin VEW. You can click on each one of them to find out more.
If you have read about the Jurong Region Line and the Cross Island, you would have noticed that both of these MRT lines consist of a station called West Coast, which is where Twin VEW is located at. Is it possible that we are looking at a MRT station that interchanges the Jurong Region Line and the Cross Island Line around Twin VEW?
When you invest in Twin VEW, you are not just investing in the condominium. You are also investing in the future transformation that is happening around the condominium.
3. LOWEST LAND COST
As mentioned in 1), Twin VEW is launching at the start of an market uptrend. What this means is that the plot of land where Twin VEW is being built on was acquired when the property market was still on a downtrend, which makes it much cheaper than the current land prices, especially with the ongoing en-bloc frenzy. The best example would be the land directly opposite Twin VEW’s which was bought by CDL Development in Jan this year at $800 psf ppr, while Twin VEW’s was bought at $592 psf ppr in May last year. In less than a year, land cost has increased by more than 35%. Here is a chart to show the recent land prices in the Western region of Singapore.
4. TALLEST BUILDING IN VICINITY
Imagine coming home every single day, enjoying dinner with your loved homes by the balcony, while watching the Sun set right in front of your eyes. Being the tallest building in the vicinity means that residents of Twin VEW will get to enjoy unblocked panoramic view of the Pandan Reservoir as well as the City Skylines. Twin VEW is a 36 Storey high building, with the towers being elevated by 12m from the ground up. Under the URA Master Plan, the current empty plot of land is zoned as a education site, which is usually 5 to 6 storeys high at most. The towers also sits on a North-South orientation, which maximises the residents’ views towards Pandan Reservoir while reducing the exposure to the west sun.
5. LARGE POOL OF TENANTS
One of the most common worries of investors is “What if I can’t rent it out?” At the right price, every property can eventually be rented out. If the demand for rental is low, chances are you will have to rent it out at a lower price. So how do we ensure that we can achieve a high rental price? In order to better understand this, we need to find where people might be working at around Twin VEW, and then putting ourselves in their shoes.
There are a total of 11 commercial hubs nearby. (Not including the future developments)
Apart from these, since there is a City Direct Bus right at the door step of West Coast Vale, people who are working in the Central CBD can also potentially be your tenants.
Now that we have identified the potential tenants, we need to understand why tenants will prefer Twin VEW over the other condominiums in the area. If you are a tenant today, would you prefer renting from a new development, or an old development? Would you prefer a development with a nice unblock reservoir view, or one that is blocked? Would you prefer one that is built luxuriously, or a mass market condo?
6. 99 YEARS LEASEHOLD
Yes, 99 years leasehold. Many of us prefer a freehold / 999 to a 99 year leasehold property because it belongs to us indefinitely, whereas a 99 year leasehold property gets reverted back to the state after the end of its lease. As such, since freehold belongs to us “forever”, it is deemed to be more valuable and has an upper edge over 99 year leasehold property. But is this really case? Since freehold properties belongs to the owner “forever”, they can be passed on to the next generation, which is what many owners are looking to do. In this case, most of the owners of freehold properties prefer to hold on to the property and not put it up in the market. As a result, transaction prices are not driven up or maximised. In a 99 leasehold property, the opposite is true. As the lease starts decreasing, there is a sense of urgency to sell off the property. As such, there are usually more transactions and hence the market price is maximised.
To add on, leasehold properties are actually favoured over freehold during en-bloc. Since owners are trying to keep it for the next generation, it is much more difficult to achieve an 80% consensus for an en-bloc to materialise. On the other hand, does freehold really means that you can own the property “forever”? As long as 80% of the residents agree to the en-bloc, your property will still have to be given up.
There has been several freehold condominium being acquired through the en-bloc frenzy. If you are waiting for these developments to be launched so that you can own a freehold property, think again. Does the developer have to sell it as freehold? Or can they sell it as 99 years and keep the land to themselves? This has already happened at The Shore Residences
7. POSSIBLE UNDERSUPPLY IN WESTERN REGION
If you look at the Master Plan below, you will notice that less than 1/3 of the Western Region is zoned for Residential, 1/3 being zoned for commercial and the remaining 1/3 being the Western Water Catchment. With the upcoming Jurong Lake District that is looking to create more than 100,000 new jobs, are we possibly looking at an undersupply of residential in the Western region? Another increase in demand for residential in the Western Region will be when the Port of Singapore (Currently in the Central Region) migrates over to the Tuas Megaport (Western Region). Employees who are staying the Eastern Region have no problems traveling to the Port when it’s in the Central Region. But when it moves to the Western Region, it will be way too far for many of them. In this case, will they be moving to the Central Region where property prices is the most expensive, or will they be looking to move to the Western Region?
8. LUXURIOUS DEVELOPMENT
Twin VEW is CSC Land Group's first and flagship project as a Developer. As such, they have designed it to be a luxurious, upmarket development, similar to those located in the Core Central Region. The modern layout and landscaping is inspired by nature, and is specifically designed to have a timeless appeal, which will stay evergreen throughout architectural design and building trends. With several themed zones, Twin VEW caters to all types of residents ranging from the family-oriented residents to the cosmopolitan executives of today. CSC Land Group also bucks the trend of increasingly smaller sized units, and has actually build comparatively larger units to add to the luxury feel and comfort for the benefit of the owners and residents.
9. REPUTABLE DEVELOPER
One of the top developers in the World, CSC Land Group the World’s Largest Investment and Construction Conglomerate, as in ranked 24th on Global Fortune 500 Enterprises. With Business operation in more than 100 countries worldwide including China, Hongkong, USA, United Kingdom, Singapore and Australia, CSC Land Group has comprehensive business expertise in development, engineering and construction. Some iconic local projects by CSC include Silversea, Azure at Sentosa Cove, Republic Polytechnic, ACS Barker Road, Quincy Hotel, OneKM, SAFRA Yishun, Chinese Swimming Club, Sengkang Sports Complex and many more.
Some notable achievements and accolades include:
- 1 in 25 homes is built by CSC Land Group
- 77 private residential projects built in Singapore, accounting for 24,931 units or 9.89% of our private residential homes.
- 36,459 public residential units (HDB), garnering 10 HDB Construction Awards
- One of the most awarded A1 builders registered with BCA (Building and Construction Authority) since 1992.
- BCA Quality Excellence Awards for consecutive 4 years (2014-2017)
- 32 BCA Construction Excellence Awards
- 29 Green Mark Awards and many more.
10. PRESTIGIOUS RESIDENTIAL ADDRESS
Twin VEW is located within a Private Residential Enclave previously known as Hong Leong Gardens, an estate that is known to be very quiet and serene. Last but not least, which address sounds more prestigious? Clementi Ave 1 or West Coast Vale?
Another perfect example would be Marina Bay. Do you still remember how Marina Bay used to be like? It was the go-to place for steamboats and beer gardens. There wasn’t any developments around the area and when the Sail @ Marina Bay was launched, many did not see the potential of the property. Today, based on a 1,000 sqft unit, investors of the Sail @ Marina Bay would have made a profit of more than $1,000,000.