Sky Habitat the priciest suburban condo?

A new condo in Bishan that’s slated to launch in mid-April could be the priciest suburban condo to hit the market, according to a report by The Straits Times.

The article said that the indicative average price of Sky Habitat at Bishan Street 14 is expected to range between S$1,700 psf and S$1,800 psf. However, this is only the preliminary estimate from marketing agents, and could be higher or lower depending on buyers’ interest.

Despite the early indicative price, the report said that the development will set a benchmark for the Bishan Central area as well as for suburban projects across the island. The price range for the condo is well above the initial market expectation of around S$1,500 psf.

Tan Kok Keong, Research and Consultancy Head at OrangeTee, said the project’s proximity to Bishan MRT interchange as well as to Junction 8 mall and good schools like Raffles Institution are major selling points.

Another key feature of the project is its design by renowned Israeli architect Moshe Safdie, who also designed the Marina Bay Sands integrated resort.

However, one industry player said it would be a tough for the 99-year leasehold project to hit a price tag of between S$1,700 psf and S$1,800 psf, noting that CapitaLand’s d’Leedon project on the former Farrer Court site is going for approximately S$1,680 psf. That project was designed by the famous architect Zaha Hadid.

Located in District 20, the iconic 38-storey condo is being developed by Bishan Residential Development, a joint venture (JV) company between CapitaLand and Mitsubishi Estate. It comprises 509 units ranging from two- to four-bedroom homes as well as one-bedroom plus study and two-bedroom plus study units.

Source : PropertyGuru – 29 Mar 2012

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