STUDIO 3

LOCATION: Shanghai Road, River Valley.
DEVELOPER: Fortune Development Pte Ltd.
TYPE: 18 storeys condominium development (66 units) with swimming pool and car park.

http://ssc.singapenguin.net/05/050410_studio_three01.jpg
I found this condo while walking along River Valley Road. I thought it looked good so I decided to have a closer look ^ ^

It happen to be nearly completed, and probably very near from opening. It has no signboard anymore and the name address has not been put on yet, so I had to ask the security guard about the name of the project ^ ^
He also told me that all of the units have been sold already.

http://ssc.singapenguin.net/05/050410_studio_three03.jpg

http://ssc.singapenguin.net/05/050410_studio_three04.jpg

http://ssc.singapenguin.net/05/050410_studio_three05.jpg
You can get a glance of the glass-enclosed swimming pool if you look closely on the right of this last pic ;-) Same style as the one at the Arris or at the Gallery Hotel.

Overall it looks very sleek and elegant ^ ^ So I thought it was worth a thread ;-)

looks quite nice!

but its going to be finished soon or is practically finished right?

thats the problem with small-scale projects..you dont always hear of them ^^

It's going to be finished soon.
Can't find any relevant info about it on the web, except that it's selling at S$850 psf

hrmm i saw this a very long time ago in the papers. studio aparmtents for aound 550k i think?

This building is now finished and occupied, so I guess the thread can be moved out of here ;-)

Hi,

Studio 3, Shanghai Road

Need to know what is a reasonable price to pay for the following 2 bedroom units on the lowest floor of Studio 3? These are both 883 square feet built-in area, and the rest are patio area.

1) 1,485 sq ft (883 sf built in)

2) 1,302 sq ft (883 sf built in)

I am confused as to how to calculate price per square foot (psf) when it comes to units with large patios or balconies.

Also, any potential price appreciation? Seeing as how there will be new launches very nearby around the area. Or will the noisy construction work devalue the price of Studio 3?

Any help is much appreciated.

Thanks! :)

you might want to look at shanghai one brand new coming up on same road. the last done price is still below 1000

you might want to look at shanghai one brand new coming up on same road. the last done price is still below 1000i hv offer of $1050 psf.

Thanks reneewy but I don't really like the location nor the looks/finishing of Shanghai One.

What I am trying to find out is, how much $$ value should I put on the PES. Because I am trying to compare the $psf price of one unit with a large PES vs. one without the PES. The one with large PES obviously has a much lower $psf. But that is misleading because it is not built-in area.

For example, there was a 1,400 square feet unit at Aspen Heights going for $1.26 million. Sounds cheap, but actually 1,400 square feet area includes a large PES. So I would like to find out if this kind of unit is worth it or not but I don't know how to calculate the value of PES. Same with this one at Studio 3.

Anyone knows?

Hi studio3,

The PES psf price is between 38.5% to 40.7% of the normal psf price, based on what Capitaland is asking for 3 units of Seafront @ Meyer.

Unit 01-01, 1410 sq ft, 40 sq m of PES, no planter area, $1,576,000
Unit 02-01, 1066 sq ft, no PES, 6 sq m of planter area, $1,418,000
Unit 03-01, 1066 sq ft, no PES, 6 sq m of planter area, $1,427000

Scenario 1:
Assume that the the psf price of Level 1 unit and Level 2 units to be the same.

Unit 02-01
psf price = $1,418,000 / 1066 sq ft = $1330 psf

Unit 01-01
Unit 01-01 has a PES of 40 sq m, but has no planter.
Unit 02-01 has a planter area of 6 sq m.
If we assume that the psf price of planter area equals that of PES, then unit 01-01 has an adjusted PES area of 40 - 6 = 34 sq m
PES of 34 sq m => 366 sq ft
Floor area excluding PES = 1410 - 366 = 1044 sq ft

Derived price of "floor area excluding PES"
= (Floor area excluding adjusted PES) * (Unit 02-01's psf price)
= 1044 sq ft * $1330 psf
= $1,388,520


derived price of adjusted PES area
= Total price of Unit 01-01 - derived price of "floor area excluding adjusted PES"
= $1,576,000 - $1,388,520
= $187,480

psf price of adjusted PES area
= derived price of PES area / PES area
= $187,480 / 366 sq ft
= $512 psf

psf price of PES area / psf price of "floor area excluding PES"
= $512 psf / $1330 psf
= 0.385
= 38.5%

Scenario 2:
Assume that there is a psf difference between Unit 02-01 and Unit 01-01

Unit 03-01's psf price = $1,427,000 / 1066 sq ft = $1339 psf
Unit 02-01's psf price = $1330 psf
psf difference between Unit 03-01 and Unit 02-01 = $1339 - $1330 = $9

If we assume the psf difference between Unit 02-01 and Unit 01-01 is also $9, the analysis will be as follows:

Derived price of "floor area excluding PES"
= (Floor area excluding adjusted PES) * (Unit 02-01's psf price - $9)
= 1044 sq ft * ($1330 psf - $9 psf)
= 1044 sq ft * $1321
= $1,379,124

derived price of adjusted PES area
= Total price of Unit 01-01 - derived price of "floor area excluding adjusted PES"
= $1,576,000 - $1,379,124
= $196,876

psf price of adjusted PES area
= derived price of PES area / PES area
= $196,876 / 366 sq ft
= $538 psf

psf price of PES area / psf price of "floor area excluding PES"
= $538 psf / $1330 psf
= 0.407
= 40.7%

Hi studio3,

The PES psf price is between 38.5% to 40.7% of the normal psf price, based on what Capitaland is asking for 3 units of Seafront @ Meyer.

Unit 01-01, 1410 sq ft, 40 sq m of PES, no planter area, $1,576,000
Unit 02-01, 1066 sq ft, no PES, 6 sq m of planter area, $1,418,000
Unit 03-01, 1066 sq ft, no PES, 6 sq m of planter area, $1,427000

Scenario 1:
Assume that the the psf price of Level 1 unit and Level 2 units to be the same.

Unit 02-01
psf price = $1,418,000 / 1066 sq ft = $1330 psf

Unit 01-01
Unit 01-01 has a PES of 40 sq m, but has no planter.
Unit 02-01 has a planter area of 6 sq m.
If we assume that the psf price of planter area equals that of PES, then unit 01-01 has an adjusted PES area of 40 - 6 = 34 sq m
PES of 34 sq m => 366 sq ft
Floor area excluding PES = 1410 - 366 = 1044 sq ft

Derived price of "floor area excluding PES"
= (Floor area excluding adjusted PES) * (Unit 02-01's psf price)
= 1044 sq ft * $1330 psf
= $1,388,520


derived price of adjusted PES area
= Total price of Unit 01-01 - derived price of "floor area excluding adjusted PES"
= $1,576,000 - $1,388,520
= $187,480

psf price of adjusted PES area
= derived price of PES area / PES area
= $187,480 / 366 sq ft
= $512 psf

psf price of PES area / psf price of "floor area excluding PES"
= $512 psf / $1330 psf
= 0.385
= 38.5%

Scenario 2:
Assume that there is a psf difference between Unit 02-01 and Unit 01-01

Unit 03-01's psf price = $1,427,000 / 1066 sq ft = $1339 psf
Unit 02-01's psf price = $1330 psf
psf difference between Unit 03-01 and Unit 02-01 = $1339 - $1330 = $9

If we assume the psf difference between Unit 02-01 and Unit 01-01 is also $9, the analysis will be as follows:

Derived price of "floor area excluding PES"
= (Floor area excluding adjusted PES) * (Unit 02-01's psf price - $9)
= 1044 sq ft * ($1330 psf - $9 psf)
= 1044 sq ft * $1321
= $1,379,124

derived price of adjusted PES area
= Total price of Unit 01-01 - derived price of "floor area excluding adjusted PES"
= $1,576,000 - $1,379,124
= $196,876

psf price of adjusted PES area
= derived price of PES area / PES area
= $196,876 / 366 sq ft
= $538 psf

psf price of PES area / psf price of "floor area excluding PES"
= $538 psf / $1330 psf
= 0.407
= 40.7%

Is there a website for Shanghai One... ?

...and Arthur do you still have a property available for $1050? Or is it now $5010... these days anything is possible.

Thanks.

ozmander,
i saw in the classified over the weekend for a loft unit in the legend along bukit timah asking for around 1.1kpsf.

Hi studio3,

The PES psf price is between 38.5% to 40.7% of the normal psf price, based on what Capitaland is asking for 3 units of Seafront @ Meyer.

Unit 01-01, 1410 sq ft, 40 sq m of PES, no planter area, $1,576,000
Unit 02-01, 1066 sq ft, no PES, 6 sq m of planter area, $1,418,000
Unit 03-01, 1066 sq ft, no PES, 6 sq m of planter area, $1,427000

Scenario 1:
Assume that the the psf price of Level 1 unit and Level 2 units to be the same.

Unit 02-01
psf price = $1,418,000 / 1066 sq ft = $1330 psf

Unit 01-01
Unit 01-01 has a PES of 40 sq m, but has no planter.
Unit 02-01 has a planter area of 6 sq m.
If we assume that the psf price of planter area equals that of PES, then unit 01-01 has an adjusted PES area of 40 - 6 = 34 sq m
PES of 34 sq m => 366 sq ft
Floor area excluding PES = 1410 - 366 = 1044 sq ft

Derived price of "floor area excluding PES"
= (Floor area excluding adjusted PES) * (Unit 02-01's psf price)
= 1044 sq ft * $1330 psf
= $1,388,520


derived price of adjusted PES area
= Total price of Unit 01-01 - derived price of "floor area excluding adjusted PES"
= $1,576,000 - $1,388,520
= $187,480

psf price of adjusted PES area
= derived price of PES area / PES area
= $187,480 / 366 sq ft
= $512 psf

psf price of PES area / psf price of "floor area excluding PES"
= $512 psf / $1330 psf
= 0.385
= 38.5%

Scenario 2:
Assume that there is a psf difference between Unit 02-01 and Unit 01-01

Unit 03-01's psf price = $1,427,000 / 1066 sq ft = $1339 psf
Unit 02-01's psf price = $1330 psf
psf difference between Unit 03-01 and Unit 02-01 = $1339 - $1330 = $9

If we assume the psf difference between Unit 02-01 and Unit 01-01 is also $9, the analysis will be as follows:

Derived price of "floor area excluding PES"
= (Floor area excluding adjusted PES) * (Unit 02-01's psf price - $9)
= 1044 sq ft * ($1330 psf - $9 psf)
= 1044 sq ft * $1321
= $1,379,124

derived price of adjusted PES area
= Total price of Unit 01-01 - derived price of "floor area excluding adjusted PES"
= $1,576,000 - $1,379,124
= $196,876

psf price of adjusted PES area
= derived price of PES area / PES area
= $196,876 / 366 sq ft
= $538 psf

psf price of PES area / psf price of "floor area excluding PES"
= $538 psf / $1330 psf
= 0.407
= 40.7%
wees, you are correct. the price of PES is 30-50% of the actual unit.

Is there a website for Shanghai One... ?

...and Arthur do you still have a property available for $1050? Or is it now $5010... these days anything is possible.

Thanks.
unit still available. pm me your email address and i can send you the floorplan.:)

Thanks Arthur.. PM sent.

Duckweed - thanks for letting me know. Legend is a little too old for my tastes. But thanks nonetheless.

There's a unit asking $1700psf:
http://www.urbanespaces.com/luxurypad.html

Wow. That's unbelievable. It's dirt-cheap! ( waitaminute-are you referring to Studio 3 or The Legend? )

cheers

excelsvr

Here are some photos.

The kitchen.
http://i228.photobucket.com/albums/ee304/Excelsvr/Studio3Gym.jp

The gym.
http://i228.photobucket.com/albums/ee304/Excelsvr/Studio3Gym.jpg

The master bath.
http://i228.photobucket.com/albums/ee304/Excelsvr/Studio3MasterBath.jpg

The swimming pool.
http://i228.photobucket.com/albums/ee304/Excelsvr/Studio3.jpg

Just found out about this development this weekend and am really interested in the 883 sqft units for either leasing or buying for own occupation. To all the owners and tenants of Studio 3, what are the pro and con of this development? And do you have the floor plan and site plan? Thanks.

There's a unit asking $1700psf:
http://www.urbanespaces.com/luxurypad.html

where is this place? i mean what's the name of this place? thanks

Interesting mesh panels.