The Tre Ver by UOL

The Tre Ver is a waterfront condominium overlooking the Kallang River, and located along Potong Pasir Avenue 1. Its beautiful design is created by the award-winning architect firm WOHA, and  is expected to be launched at around S$1,500psf. Comprising 9 blocks of up to 20-storeys, The Tre Ver will house 729 units of 1-4 bedroom units. The Tre Ver is redeveloped from the former Raintree Gardens (a HUDC estate), which was sold enbloc in Oct 2016. 
The Tre Ver Potong Pasir Clubhouse

The Tre Ver Location

The Tre Ver Potong Pasir Location

The Tre Ver is a 10-min walk (based on Google Maps) to Potong Pasir MRT station, and is only 4 stops away from Dhoby Ghaut interchange. For those who drive, the project is also easily accessible by PIE and CTE.

Residents of selected units can enjoy the scenic view of the Kallang River which stretches across the facade of the development.

Potong Pasir Community Club is only a 5-min walk away! Residents of The Tre Ver may enjoy various facilities such as booking of badminton courts, grocery shopping at NTUC, dining at KFC or at the coffeeshop across the road.

The Poiz (a mixed commercial and residential development expected to be completed by 2019) is adjacent to Potong Pasir MRT station. When completed, it is expected to offer an additional range of F&B options to residents nearby.

There are many education institutions near The Tre Ver, including reputable schools such as the following:

  • Cedar Primary School (within 1km)
  • Cedar Secondary School
  • First Toa Payoh Primary School
  • Maris Stella High School
  • St. Andrew’s Junior School (within 1km)
  • St. Andrew’s Secondary School
  • St. Andrew’s Junior College
  • Stamford International School

The Tre Ver Specifications

Project Name: The Tre Ver
Address: Blk 60, 62, 64, 66, 68, 70, 72, 74 and 76 Potong Pasir Ave 1
Developer: UVD (Projects) Pte. Ltd (JV of UOL Group Ltd and United Industrial Corporation Ltd)
District: 13
Tenure: 99 years
No. of blocks Tower Blocks: 3 blocks of 20 storey and 2 blocks of 19 storey

Garden Blocks: 4 blocks of 7 storey including 2 storey carparks and 1 basement carpark

Total no of Units: 729
Facilities Bubble Island, 50m Lap Pool, Infinity Pool, Outdoor Spas, Jacuzzi Caves, Water Swings, Karaoke Rooms, Herb Garden, BBQ Cabana, Clubhouse, Pool Room, Library, Games Room, Waterfall Garden, E-Post Station, Flora Lane, Climbing Cave, Bouncing Pit, Balacing Bridge, Fitness Stations, Workout Corner, Physio Corner, Function Loft, Multipurpose Lounge, Activity Alcoves, BBQ Pavilion, Grill Pavilion, Teppanyaki Pavilion
Site area: approx 201,405 sqft
Expected TOP: 2022
Architect WOHA

Site Plan

Unique Features

  • Near Potong Pasir MRT station and 4 stops away from Dhoby Ghaut interchange
  • Waterfront living at an affordable price
  • Easy access to NTUC supermarket and Potong Pasir Community Club
  • Near The Poiz, which will be completed earlier than The Tre Ver
  • Within 1km to Cedar Primary Sch and St Andrew’s Jr Sch
  • Easy access to other parts of Singapore by PIE and CTE
  • Very competitive pricing – RCR property at OCR price!

Photo Gallery

The Tre Ver Floor Plans

The Tre Ver Potong Pasir Floor Plan 1 bedroomThe Tre Ver Potong Pasir Floor Plan 2 bedroomThe Tre Ver Potong Pasir Floor Plan 3 bedroomThe Tre Ver Potong Pasir Floor Plan 4 bedroom

Unit Mix

Type Area (sqft) Total Units
1-Bedroom (484 – 506 sqft)
Tower Blk 495 66
Tower Blk 495 36
Tower Blk 506 49
Garden Blk 484 8
2-Bedroom (614 – 797 sqft)
Tower Blk 614 32
Tower Blk 624 32
Tower Blk 635 30
Tower Blk 689 36
Tower Blk 700 115
Tower Blk 732 81
Tower Blk 732 82
Garden Blk 635 15
Garden Blk 797 8
3-Bedroom (990 – 1098 sqft)
Tower Blk 990 36
Tower Blk 1087 36
Tower Blk 1087 36
Tower Blk 1087 34
Garden Blk 1055 10
Garden Blk 1098 10
4-Bedroom (1324 – 1367 sqft)
Tower Blk 1367 17
Garden Blk 1324 10
Total 729

The Tre Ver Official Pricing

The Tre Ver will be built on the site of the former Raintree Gardens, which was sold en bloc for S$334.2m in Oct 2016 to Sim Lian. Sim Lian planned to develop the 201,405 sq ft site to house about 750 units, which translates into about $797 per sq ft per plot ratio (psf ppr), including the premium paid to top up the lease to a fresh 99 years and for redevelopment of the site to a gross plot ratio of 2.8.

Based on an estimated construction costs, administrative expenses and profit margin at a total of S$600-700psf, the launch price (subject to confirmation by the developer) is estimated around S$1,4xx psf.

Indicative Price as at 19 Aug 2018:

1BR
#04-01 506sqft $738000 ($1458psf) **
#04-51 484sqft $742000 ($1533psf)
#04-52 484sqft $742000 ($1533psf)
#05-01 506sqft $746000 ($1474psf) **
#05-08 506sqft $746000 ($1474psf) **

2BR
#06-07 614sqft $908000 ($1478psf) **
#04-12 624sqft $941000 ($1508psf)
#04-13 624sqft $941000 ($1508psf)

2BR P
#04-29 689sqft $1070000 ($1553psf)
#04-36 689sqft $1070000 ($1553psf)
#04-32 700sqft $1071000 ($1530psf)
#04-24 700sqft $1071000 ($1530psf)

3BR
#04-27 1012sqft $1546000 ($1528psf)
#05-27 1012sqft $1554000 ($1536psf)
#04-46 1055sqft $1582000 ($1500psf) **
#04-47 1055sqft $1582000 ($1500psf) **
#05-46 1055sqft $1592000 ($1509psf)

3BR P
#04-31 1109sqft $1656000 ($1493psf) **
#04-35 1098sqft $1664000 ($1515psf)
#04-18 1109sqft $1692000 ($1526psf)
#04-19 1098sqft $1692000 ($1541psf)

4BR
#04-41 1335sqft $2080000 ($1558psf)
#04-43 1335sqft $2090000 ($1566psf)
#05-41 1335sqft $2098000 ($1572psf)
#04-15 1378sqft $2154000 ($1563psf)

** denotes lowest psf

Prices are subject to change without prior notice.

Register now to obtain first hand updates on the pricing based on your choice units!

About the Developer

UOL is a Singapore based real estate company listed on the Singapore Stock Exchange. UOL specialises in both property development and investment in residential, commercial, and industrial projects. The group has won several awards within the industry and furthermore maintains a strong reputation for delivering excellence in quality and for their dedication to sustainability efforts. Other residential developments from the developer in Singapore include Riverbank at Fernvale, Botanique at BartleyThe Clement Canopy and Principal Garden.

United Industrial Corporation (UIC) also holds an impressive portfolio and reputation within the Singapore property scene. Founded as a private company in 1963 before its public listing in 1969, UIC’s portfolio features some of the most highly-regarded commercial and retail landmarks in Singapore. Some of the residential condominiums developed by UIC in Singapore include Mon Jervois, Alex Residences, and Pollen & Bleu. Abroad, the developer has investment relations in the UK, China, London, Shanghai, Beijing, and Tianjin.

About the Architect

WOHA is a Singapore-based architectural practice founded by Wong Mun Summ and Richard Hassell in 1994, and has gained global recognition for their integration of environmental and social principles at every stage of the design process. They have designed a diverse amount of innovative and highly influential projects, which have been built in a number of cities and countries, and their best-known projects have been widely publicised as benchmarks for sustainable design. It has won many international awards since 1999, and recent awards include:

  • 2017 Maison & Objet Designer of the Year Asia Award
  • 2016 World Architecture Festival, Future Project (Commercial Mixed Use), Kampung Admiralty, Singapore
  • 2016 The International Highrise Award Finalist, Skyville @ Dawson, Singapore
  • 2016 SIA Architectural Design Awards, Skyville @ Dawson, Singapore
  • 2016 SIA Architectural Design Awards, PARKROYAL on Pickering, Singapore
  • 2016 SIA Architectural Design Awards, Enabling Village, Singapore

Some of WOHA’s local works include:

  • Goodwood Residence, Singapore, 2010-2013
  • Parkroyal on Pickering, Singapore, 2010-2013
  • School of the Arts, Singapore, 2005-2010
  • iluma, Singapore, 2005-2009
  • Crowne Plaza Hotel, Changi Airport, Singapore, 2005-2008
  • Bras Basah MRT Station, Singapore, 2000-2008
  • Stadium MRT Station, Singapore, 2000-2008

Register Interest Now

The Tre Ver is now open for viewing. REGISTER NOW for an appointment at our showflat and enjoy VIP pricing direct from the Developer! No agent commission required!

Registration Form
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Value for Money
  • Value for Money
  • Location
4.5

Summary

The Tre Ver is expected to be priced competitively amongst various recent launches in the region.
This is a good opportunity for investors who are looking for an affordable new property in District 13. At the average price of 1,500psf, the price point is very competitive for a RCR property!

 


Property News and Updates

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William Chen • Powerhaus
William Chen • Powerhaus
TRIPLE LAUNCH WEEKEND!
VAN HOLLAND VS LEEDON GREEN VS THE AVENIR

We are barely into the new year and developers decided to launch all 3 projects for preview at the same time!

Most people would have expected property prices to moderate by now, but it only gets higher! Sounds familiar? Didn't we all expect prices to drop after North Korea bombarded Yeonpyeong, after the Eurozone debt crisis, after Grexit, after Brexit, after the US-China trade war? But prices have climbed 50% on average since the Yeonpyeong incident back in 2010.

So here we are in 2020 and the prices of these 3 new projects continue to set the benchmark:

1) Van Holland (FH next to Holland Village MRT) - ave $3000psf
2) Leedon Green (FH within 7mins walk to Farrer Road MRT) - ave $2,700psf
3) The Avenir (FH within 3mins walk to Great World MRT) - ave $3,200psf

If I have $2m to spare, which one will you buy? I will buy The Avenir for sure! Not only because it offers better value for money in terms of the price/location consideration, its layout is beautifully done! Come see all 3 projects for yourself with me!
William Chen • Powerhaus
William Chen • Powerhaus
UPCOMING LUXURY CONDOS IN HOLLAND AND RIVER VALLEY

2 new long awaited projects are opening for public preview this weekend. Here's a quick introduction for you:

1. LEEDON GREEN
This is the rebirth of Tulip Garden, which is right beside D'Leedon and mins walk from Farrer MRT station. With 638 units at a GCB enclave, Leedon Green is one of the biggest new launch in the vicinity. It's freehold, yet expected to launch cheaper than One Holland Village! It is definitely a magnet for diehard freehold fans who cannot bring themselves to buy the likes of D'Leedon. The developer is a JV between MCL Land and Yanlord. If One Holland Village can sell 30% of its units on its first weekend of launch, how do you think Leedon Green will fare?

2. AVENIR
This is a little more upmarket at River Valley, where we find another condo reborn from the former Pacific Mansion. Avenir, another freehold condo with 376 units, is 3mins walk from the future Great World MRT station which is just 1 stop away from Orchard. It is also around 10mins walk to the current Somerset MRT. I love Martin Modern's layout. From 3.2m ceiling height and very spacious living rooms, we can easily spot how GuocoLand has incorporated the brilliance of Martin Modern into Avenir. The developer is a JV between GuocoLand and Hong Leong. Oh, and can you believe the kitchens come with air conditioning too?

Official prices for both condos will be released closer to this weekend. If you would like to find out more or have a look at the showflat, let me know. Early bird discounts are available for units booked on launch date.
William Chen • Powerhaus
William Chen • Powerhaus
99Y HDB vs CONDO - DO THEY DEPRECIATE THE SAME WAY?

If HDB prices can depreciate to zero, shouldn't condo be the same? Shouldn't a 99Y lease HDB and a 99Y lease condo both depreciate at 1%pa?

We know that based on real world behaviour, this doesnt happen. But why? To answer that, we gotta have a better understanding of the concept of depreciation. Let's use a Singapore registered car as an example where its useful life is 10 years. Simply, if you bought the car at $100k, its depreciation should be $10k per annum right? Actually, that's incorrect as we have not taken into account its residual value at the end of its useful life. At the end of 10 years when COE expires, if the car still has scrap value of $20k the annual depreciation is only be $8k per annum.

Now back to the topic of real estate. Private leasehold properties tend to get sold en bloc before the end of the 99 years. In the last enbloc cycle, most of those which went enbloc were around their 40th year mark. And the owners were rewarded handsomely above market value. This would fall under the definition of "residual value". Though it's impossible to quantify the residual value at the time of purchasing a property, this gets factored into the depreciation one way or another. With a high residual value, inflation can easily overtake the rate of depreciation and therefore, nominal prices can still rise.

What about HDBs? Question is - can a private developer buy a HDB block and redevelop it? In the past, some HUDCs have privatised and subsequently sold enbloc to developers. A prominent example is Eunosville which eventually became Parc Esta, and the prior owners walked away millions richer. But this is a very rare example because the owners of Eunosville have to agree to pay a huge sum to the government to buy over the carpark space and other common areas before they could privatise. Not many residents are willing or able to fork out this huge sum, but the residents of Eunosville eventually did so and it paid off handsomely!

Judging by the total number of HDB flats in Singapore and the number of them that eventually privatised and went enbloc, the chances of reaping the benefits of former Eunosville owners are virtually zero. At best, HDB owners have a 4-5% chance of VERS or SERS, which just means you get compensated at market price and get priority to book a new BTO in a nearby location.

That explains why when we compare HDB prices vs condo prices over the past 20 years, condo prices (even those with 99 years) rose much faster. Do you think this trend will continue?
William Chen • Powerhaus
William Chen • Powerhaus
Sometimes, real estate analysts have vested interest and may make biased projections about property price outlook.

When a non-real estate player like Fitch makes a forecast, I guess it is more believable 😄
William Chen • Powerhaus
William Chen • Powerhaus
ONE-TIME LEASE TOP UP FOR AGEING HDB FLATS?

There's growing awareness about HDB lease decay and how that will impact property prices. This is especially so after Lawrence Wong mentioned that HDB prices will depreciate to zero eventually.

Recently, there were suggestions to implement a one-time lease top up of ageing HDBs back to 99 years to tackle the lease decay issue. It's a radical idea, and let's take an IMAGINARY journey if this were to be implemented:

--------------------------------

Tommy recently paid $600k for a 10 year old 5-room flat in Hougang. Overnight, HDB announced that the 40-year-old flat next door's lease is topped up back to 99 years! His "newer" flat immediately lost value because his neighbour's flat instantly became more desirable than his. He was also unhappy that his neighbour paid less to buy an older flat and was rewarded for it by automatically qualifying for the one-time lease top up. Tommy rants on social media, and he's not alone. He gathers his friends to meet the MPs and demand that the remaining lease of his flat gets topped up to 139 years to be fair. After all, if his neighbour can enjoy additional 50 years for nothing, why shouldn't he?

As elections approach, HDB is forced to concede to such demands, and decides to automatically add 50 years lease across all HDB flats in Singapore. Consequently, it created an expectation that the remaining leases of all HDB flats will continue in perpetuity. HDB flat owners start adjusting their asking prices as if they are selling freehold properties. Resale HDB flats become increasingly out of reach for 1st time property buyers, and it becomes harder for retirees to cash out by downgrading to a smaller and older HDB flat.

--------------------------------

Do you think the government will allow this to happen? 🤔

https://www.propertyguru.com.sg/property-management-news/2019/12/185088/mnd-to-consider-suggestions-to-tackle-hdb-lease-decay
William Chen • Powerhaus
William Chen • Powerhaus
STIRLING VS AVENUE SOUTH

I have a few clients who compare these 2 projects and are undecided which is a better buy. In terms of pricing, both are rather similar priced around $1900-$2000psf. Both are quite near to town and are located towards the west side of Singapore. Both are high rise projects with about 1000 units, and even the exterior design is quite similar. While Stirling is nearer to an MRT station, Stirling is nearer to town as the crow flies, and rides on the Greater Southern Waterfront Transformation. Stirling's developer is Logan, whereas Avenue South's developer is a more established one - UOL.

The above-mentioned factors are what most buyers will consider. Given the various trade offs, there is no obvious winner unless one feels very strongly about staying near MRT station, or believes strongly in the future transformation at the Greater Southern Waterfront.

But one very important consideration that many buyers miss out on is this ===> TIME! What do I mean?

These will be my typical questions to buyers considering between these 2 properties:
1) Let's say you are buying this unit for investment. When are you intending to cash out?
2) If you're buying this for own stay, do you foresee any life events that require you to move out to another place within the next 6-7 years? e.g. get married, have more children, etc?

Why are these questions important? Let me illustrate this with an example. I have a single buyer in his late 20s who would like to buy a 1 bedroom unit for own stay. So quite likely, he will get married and settle down within the next 5 years or so. If he has kids, he will definitely need to upgrade within the next 10 years. Here is the golden question => if he intends to buy Avenue South for capital appreciation, will he get to enjoy it within the next 10 years before he needs to move elsewhere? If Keppel port will be moving to Tuas only in 2027, can he wait for this area to be redeveloped before realising the profits from his investment? If not for the current publicity around Avenue South, will he consider buying a property in that area?

Buying is easy. Selling may not be. I can help you think ahead to avoid buyer remorse in the years ahead! 😄