These are some of my thoughts on The Tre Ver – New riverfront development at Potong Pasir Ave 1 from UOL.
The Tre Ver is a 729-unit waterfront development located next to the Kallang River, and is poised to benefit from the government’s initiative to transform the river into a lifestyle hub.
The Tre Ver condo is the outcome of en bloc deal from the former HUDC, Raintree Gardens. Many homeowners at Raintree Gardens in Potong Pasir, a 175-unit former HUDC estate, will walk away with about $1.9 million per unit.
The location is approximately 6 minutes walk away from the exit of Potong Pasir MRT station. Amenities within reach of 1 km radius include the heartland Potong Pasir Market, coffee shops and retail stores such as The Venue.
For more on information on nearby amenities visit: The Tre Ver
One of the major selling points for The Tre Ver is the river views most units will be able to enjoy. This is the only condominium in Woodleigh so far, with an unblocked view of Kallang River.
“Is it noisy staying close to expressway ?”
Definitely will have noise. However, the noise pollution is significantly reduced as the HDB blocks at Potong Pasir Ave 3 is in between. Personally, I like having scenic views of the river from the comfort of your balcony as I think that’s what adds value to having a balcony (since you are already paying for it) compared to just an outdoor space facing another residents’ laundry hanging
That is better.
Pricing and Comparisons:
In comparison to recent new launches, The Tre Ver is considerably affordable considering the 2-bedroom units are asking from only S$910,000 compared to the recent launch of Woodleigh Residences estimated to be from S$1.1 million onwards. I believe the recent for such competitive pricing, is due to the land acquisition cost for the plot where The Tre Ver is built on which is why the developer is able to price at a wider range depending on market conditions.
The Tre Ver is the most value for money new launch recently compared to Park Colonial and The Woodleigh Residences. Up north there is The Garden Residences which is not located near to MRT is already commanding average S$1,643psf.
|Project Name||The Garden Residences||Park Colonial|
|25 Percentile (75% of the units transacted above this price)||$1,591||$1,698|
|Median PSF (50% of the units transacted above this price)||$1,659||$1,760|
|75 Percentile (25% of the units transacted above this price)||$1,690||$1,815|
|Highest Achieved PSF||$1,770||$2,042|
What this translates to is there is so much room for The Tre Ver to have future potential capital gains as these are the acceptable prices for the same district. Within the well-sought after Bidadari estate, there is definitely signs towards price growth.
Developer UOL Partners WOHA – a Singapore-based architectural:
For most of us who do not know WOHA is multiple award-winning firm often considered to be Singapore’s best architecture firm. Architects Wong Mun Summ and Richard Hassell, co-founders of WoOHA, have been chosen as Designer of the Year for Maison&Objet Asia. This is the first time a Singapore architect or designer has been awarded the title in the design show’s history. They quite recently were also presented with President’s Design 2018 award for their stunning architecture design at Oasia Hotel Downtown.
“Personally, I think this is a big deal.”
The competitive land acquisition price for The Tre Ver has allowed the developer to ramp up the quality and finishes of the end product. The Tre Ver is a sustainable, green, breathing architecture which is efficient with well thought out layouts.
Premier finishes including marble and American oak flooring shows that the developer is giving back value to buyers. I feel that more developers should respond to the buyers’ expectations and provide premium finishes as it will solidify their position as price setters in the market.
|Project Name||The Tre Ver||Parc Colonial||Woodleigh Residences||The Garden Residences|
|Land Acquisition Cost (psf per plot ratio)||S$797||S$1110||S$1181||S$964|
|Estimated average asking price||$1,471 – $1,650psf||$1,514 – $2,042psf||$1,850-1900psf||$1,508 – $1,770 psf|
Value for money: ⭐⭐⭐⭐⭐5/5