The Alps Residences Price
The land parcel of The Alps Residences (Parcel 10) had attracted 12 bids from various developers back in Apr 2015, which proves that there is still a strong demand from developers despite the current market situation. Most developers viewed it is a good opportunity now to replenish their existing depleting land bank. MCC Land submitted a winning bid of $227.8 million, which translate to $483 per square foot per plot ratio (psf ppr) based on its land size of 168,000 sqft and plot ratio of 2.8.
Judging on this, the breakeven point of The Alps Residences PSF is $830psf. One point to note is that this breakeven price was one of the lowest for the year 2015 and 2016 among all the Government Land Sales (GLS). Hence this new launch could be potentially be one of the lowest psf project in 2016. Therefore The Alps Residences price is estimated to be around $1100psf on average during launch.
However The Alps residences and The Santorini situated nearby are both by the same developer, MCC land, hence the developer might be keen to keep The Alps Residences price similar to the latter.
When was the last time the market saw a launch with these prices??
1 Bedroom from $4xxk
1+Study from $5xxk
2 Bedroom from $6xxk
2+Study from $7xxk
3 Bedroom from $9xxk
4 Bedroom from $1.3xm
The Alps Residences Price Comparative Market Analysis (Source: The Edge Property & URA)
For more information about this development, refer to The Alps Residences main post. You may also refer to The Alps Residences location article to find out its exact location and surrounding amenities, The Alps Residences floor plan for its various available unit type. Finally, take reference to The Alps Residences showflat post to find out the showflat direction. Thank you.
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