The Toa Payoh New Launch Condo is yet to be launched, but we have closely watched the Government land sale for this 99-year leasehold site at the junction of Lorong 6 and Lorong 4 Toa Payoh, within walking distance of Braddell MRT station. It is expected to yield around 535 private residential units.
(source: Squarefoot Research)
At the close of the auction on the 18th June 2015, this site drew 14 bids. Which means that developers themselves know that this site – WILL SELL, because of its location, its potential, and confidently place their bids for this site.
It is my belief that this development is going to be a sell out in a short span of time – IF IT IS PRICED RIGHT. However right now the developer is hard at work to get things underway, we rub our hands in anticipation, what is the target sale price because nothing is fixed at the moment.
Personally, I think Toa Payoh is a great town, centrally located (considered right smack in the center of Singapore), its accessible via PIE (in with 2 exits), its well connected via the Lornie Road Viaduct, Bartley Road Viaduct, and not to forget mentioning CTE, it has 2 MRT stations (Toa Payoh & Braddell). Its where my office is located, there are lots of quaint small cafes, traditional food outlets, and an affordable thin crust Pizza (but I digress), Toa Payoh is indeed a fantastic place to live, eat and be merry. To top it off, Toa Payoh has a few good schools, and is priced more attractively (ie cheaper) than Bishan where more prime education institutions are located.
Schools in Toa Payoh include:
- Kheng Cheng Primary
- CHIJ Secondary & Primary
- Pei Chun Public School
- SJI International
- First Toa Payoh Primary & Secondary School
- Beatty Secondary School
If you like Toa Payoh like me, then I don’t need to convince you, if you dislike Toa Payoh and think it is just a small town with the famous Dragon playground, then lets just look at some numbers. At the present moment, Trevista which is currently the Newest condo in Toa Payoh, their current average pricing is about $1270psf, and is able to fetch rents between $3.8-$6psf per month, and given the proximity to the MRT, getting to work is easy, and with access to lots of amenities in that area, its not hard to see why it will be popular with renters and owners buying for own stay.
You may read the articles discussing the potential of this site from the various news portals:
So to summarize, I think this project is worthwhile considering, because of its location, BUT…..we still need to wait for details to see if it is truly value for money.
Disclaimer: This post is not intended to promote or market this project, as approval for sales has yet to be given by the authorities, it is purely a discussion post, information on this post is accurate at the time of the post, we disclaim any responsibility for any misrepresentation, and all buyers, caveat emptor, and do your own due diligence, and seek relevant legal counsel before making any property purchase.