West Coast Vale is a new road that connects the new condo by EL Development, Parc Riviera to the main road West Coast Road. West Coast Vale is a new road that is necessary to be built because there is no other roads that can link to Parc Riviera condo directly. West Coast Vale is a short stretch of road that extends at the entrance of West Coast Road and then links directly near to Ayer Rajah Expressway (AYE). It is unable to link directly to AYE though. Therefore owners of Parc Riviera has to go through Jurong Town Hall Road to access Ayer Rajah Expressway (AYE).

West Coast Vale EL Development

Currently, West Coast Vale Road is under construction and the expected date of completion is yet to be confirmed. West Coast Road that links to Parc Riviera will be near to amenities despite being a small road as …

EL Development began its roots as a premier real estate developer way back in 2006 with its first company known as Evan Lim & Co Pte Ltd. The developer has since grown in size and establish its standing in the Singapore real estate scene through numerous property developments in Singapore.

EL Development marks its 1st hurdle into the high end real estate market by developing Rhapsody on Mount Elizabeth. It was launched with great fanfare and the development was sold in merely 6 weeks from the launch date.

EL Development is not only established in the residential developments in Singapore but also in the industrial properties in Singapore. Nordix, a strata titled terrace factory is also developed by EL Development and is also sold out in the span of 2 months.

EL Development’s vision of being a property developer of choice is in line with stakeholder’s view of creating equity …

Parc Riviera location is excellent as it is located a short distance from Clementi MRT station. Also, Parc Riviera is close to the Jurong East area where there are plenty of shopping centres such as Big Box, JEM West Gate as well as JCube. The Jurong East area is set to transform into the next Central Business District with a whole range of hotels and other retail outlets in the area. The high speed railway terminus is set to be at Jurong East and this will bring in more retail outlets for Parc Riviera owners. Currently, the shopping centres near Parc Riviera are as below

Clementi Mall

Clementi Mall remains as the choice shopping centre for residents in the Dover and Clementi area. It is located at Commonwealth Avenue West and consist of 5 storeys of 190,000 sqft of retail space. It is linked directly to Clementi MRT station and …

At the close of the tender, after receiving a mere six bids, a land parcel for private, residential development at West Coast Vale created a sub-par response. Property analysts have said it reflects a more selective approach because of the conservation of financial resources, holding off for more lucrative sites.

The second highest bid, Sunway Developments and Oriental Worldwide Investments, tabled by a group comprising Hoi Hup Realty, turned out to be about 3.2% lower than the highest bid, tabled by EL Development. The Urban Redevelopment Authority, the top bid, totaled at $314.1 million, which is about $551 per square foot, per plot ratio (psf, ppr).

West Coast Vale Tender

The sum of the offers proposed for West Coast Vale, being the final residential site in the Confirmed List of the Government Land Sales (GLS) Programme for the first half of the year, was the lowest since the tender a …

As with East Coast, West Coast’s inception came from reclaimed land in the 1970s. While they were both created from reclaimed land, the East became recreational and the West took the industrial route. The most western of the West Coast is predominantly industrial but the eastern and central locations mostly comprise of private housing and a Housing and Development Board (HDB) estate.

West Coast Vale Town HDB

There is a town centre at the heart of the HDB estate, despite the few amentities existing in the vicinity of the private homes and condos among West Coast. This town contains multiple two-storey shophouses, the West Coast Community Centre, the Ang Chee Sia Ong Temple, the Wu Tai Shan Buddhist Temple and the much acclaimed Clementi West Market, which is right across from the West Coast shopping mall.

Residents in West Coast Vale HDB

The town stays busy on the weekends, where …

Prefabrication construction methods were the root of unexpectedly cheap bids for the site at West Coast Vale at a tender which recently closed.

EL Development had the top bid – $314.1 million or $551.15 per square foot, per plot ratio (psf, ppr) for the site (about 3.2% above the second highest bid by a joint venture of Hoi Hup Realty, Sunway Developments, and Oriental Worldwide Investments).

Prefab Requirement Increase Costs

The six bids were decreasing on recent tenders, most likely because of the requirement to use prefabricated, prefinished volumetric construction (PPVC). You can also place the fault with the location – fronting the Aye Rajah Expressway (AYE) and is a whopping 2km from the nearest MRT station, found in Clementi.

The bid at the end of the spectrum was by Singland Homes and Kheng Leong Co, at $236.9 million (only $415.69 psf, ppr).

“It will be one of the first …

There has always been a confusion weather to buy a condo or ECs. After all, both have its pros and cons and buyers are sometimes undecided weather to buy a condo or an EC. Especially when the market is slightly less than ideal, buyers may be looking for city fringe or suburban condos such as Parc Riviera near to Clementi as the outlay potential is lesser and also the rental potential maybe there as it is near to many shopping centres and academic institutions.

Buying Parc Riviera Condo

There are a few points when considering to buy a private condo or EC which are rental income and upside capital gain potential. As in order condos, Parc Riviera by EL Development has a higher upside potential given that condos have always been better in performance as any new MRT stations or new business centres near the development will see price increase …

During the third term of 2013, office rent prices in the Singapore Central Business District dropped. This is the first time rents have fallen since 2013, said two sources with regards to Parc Riviera recently.

The average gross rent (pcm) in Marina Bay dropped by 5.5% from the second term of the year. It fell to $13 per square ft. The rents in Raffles Place also dropped by 3.4% to $10.45 psf, according to a property specialist.

The trend continued on the edges of the city, in areas like Beach Road, Anson Road, and Orchard Road – rents fell in these areas by 2.1% to $8.25 psf.

West Coast Vale Condo

Now, renting rewards have been boosted by landlords looking to keep old tenants and draw in new ones – more incentives to lease have been offered for EL Development West Coast Vale Condo, in a bid to maintain and …

One consultant has shared that this softening concurs with a weak 2nd half of the year that is considered seasonal in the rental market, however it also a result of competition in West Coast Vale Condothat is growing intense amongst landlords with more new homes coming to completion.

Weak Rents may affect West Coast Vale Condo Sales

There was a decline in rents for September, according the flash estimates from SRX, for private residential units that are non-landed by 0.3% for September from last month, with suburban and city fringe areas creating a drag. However, a dip of 4.1% in rental volume was still seen. Estimates from SRX Property gave an estimation of there being 3,758 rental transactions in EL Development Condo for September, in comparison to August recording 3,919.

Eugene Lim, key executive officer for ERA Realty, made note that year on year rise of 17.7% in rental transactions …

According to BNP Paribas, “Developers are likely to be dealing more carefully at the moment, as they take into account the challenge of offloading their units into their bidding prices. However, the demand for land has not decreased.”

It might be unexpected but tender ventures are now seeing an increased amount of bids per site as local developers try to restock their land reserves, overseas developers attempt to invest in Singapore, and construction magnates dedicate themselves to opening up a tricky market.

Like-for-like comparisons on West Coast EL Development Parc Riviera plots exchanged recently, in contrast with earlier regions, reveal that bidding prices have dipped significantly. However, demand is still robust, with an average of nine bids per site in the months between January and September last year.

West Coast Vale Condo

This could be down to the fact that developers are desperate to replenish, in the wake of recent …