Updated: Nov 27, 2020
I’ve recently done a review of Daintree Residences, and that seems to be very popular with my readers who are looking for new launch condos!! Do read that review if you are interested in condos along in the Upper Bukit Timah region. I cover in great detail on Daintree Residences, and its current competition such as Mayfair Modern, Mayfair Gardens, and View at Kismis.
Upper Bukit Timah has been seen multiple new launches in a short duration, and hence it is important to have a close comparison in order to find which is the best according to your needs. UPDATE (01 October 2020): Verdale was launched around the same time as another new launch called Penrose, along Sims Drive. Penrose was 60% sold over the past weekend, making Verdale sales number pale in comparison, at which it is 17.05% sold to date.
Still, it is best to compare Verdale with neighboring new launches for an equal comparison.
UPDATE 27 November 2020: Sales for Verdale is 21.71% (56 Units) sold to date! I believe that the units are not moving fast due to competition from Daintree Residence, View at Kismis, and Linq @ Beauty World (Freehold).
In addition, buyers might also be waiting out for more information in regards to the Jalan Jurong Kechil Land Sale.
What Makes it Attractive?
Verdale is located closer towards the end of Jalan Jurong Kechil, which provides for lesser traffic, and more privacy as compared to the condos closer to Beauty World MRT. This makes for an exchange inconvenience though, as it takes around a 15 minutes’ walk to Beauty World MRT and The Cheong Chin Nam line of eateries, which includes famous restaurants such as Boon Tong Kee Chicken Rice and Al-Alzhar Eating Restaurant.
Sitting at the junction of De Souza Avenue and Jalan Jurong Kechil, there might be some concern in regards to traffic. Be rest assured that these are not major road links, and will be a quiet neighborhood.
Here’s a fun fact, the now-defunct Bukit Batok’s Boys Hotel is located behind Verdale, which was previously for rehabilitation.
Potentially Attractive Price
The site was purchased at a cost of $215 million, which makes Verdale land price roughly $1,002 psf. Taking into consideration of construction costs and the developer's profits, my estimated guess for the pricing will be around $1600-$1700 psf. The breakeven price should therefore be around $1550 psf.
This makes its price rather competitive as compared to Daintree Residences and View at Kismis.
Mayfair Modern and Mayfair Gardens should be categorized separately due to their higher prices. In addition, they are also located closer to the Bukit Timah landed enclave, along Rifle Range Road.
UPDATE (01 October 2020): Verdale price starts from an $1,606 psf, which is competitively priced with its counterparts. Contact me for up-to-date prices on all Bedroom types!
Weak Resale Competition
You might be aware of The Hillford, when it was first launched was promoted to be a retirement resort. This proposal enables it to count against its shorter lease for the development, which is just 60 years long.
The Hillford prices have been tumbling even before TOP (2017), and this makes Verdale be an attractive choice for investors at first glance.
Freehold/999-Leasehold condos, however, offer an interesting bargain and should be considered for your purchase. Transacted prices have steadily been climbing against its 99-Leasehold competition.
The Daintree Residence review that I have written previously covered this issue. Within the span of 3 years, four new launches have started marketing and will most likely be reaching TOP around the same timing. Personally, I feel that there is a lot of price pressure, and investors should be careful in picking a unit where its merits justify its price.
In the case of Verdale, I feel that it makes a suitable purchase should the launch price is around $15xxpsf, which is close to the breakeven price.
Verdale is located further up Jalan Jurong Kechil, and although it provides more privacy, there is reduced convenience, which usually is reflected in monetary value.
Mortgage Repayment Numbers
Prices for Verdale are not released yet, but based on a 3 Bedroom (947 sqft) is at $1,515,200 ($1,600psf). In consideration that this property is purchased for families to occupy it, I will not be counting ABSD in the final price. Legal Fees of $2,000 will be the rough average.
The bank loan interest rate is currently based on fixed loan rates given at this point (i.e. this is around 1.5%) and is subjected to changes.
Take note that these numbers are only for illustration and are not finalized.
Verdale is a new launch condo that is introduced in a time when the Upper Bukit Timah Region is undergoing significant changes in its residential communities. With plenty of new launch condos to pick from, I feel that it is important to go for a condo that suits your needs best.
Verdale provides its occupiers with a quiet environment, away from the Beauty World region. This will therefore provide competitive pricing as compared to its neighboring new launches.
However, its distance away from eateries and the MRT might make it a less favorable investment as there are other new launch condos like Daintree Residence, View at Kismis, and the upcoming Jalan Anak Bukit site (should there be a successful tender) are located closer to these hotspots.
Are you keen on finding out if Verdale is an ideal investment for your specific financial circumstance? Contact us at +65 96329840 or send your queries to firstname.lastname@example.org! Our consultations do not have a charge, so let us assist you! I will be able to provide more details such as site plan, floor plans, and pricing once more information is released.
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