Real Estate : househunter – Principal Garden


Have you ever felt confused post a showflat visit? It is pretty common that, if you speak to any agent, every property seems a good buy. For this reason, we are very excited to announce the launch of #househunter – a line of reports where we visit the most exciting showflat launches and provide our honest opinions, ie is it a good purchase, is this property too expensive to buy, etc? Simply put, we are like your property agent, just better.

We visited Principal Garden’s pretty crowded preview last weekend. Principal Garden by UOL Group (UOL SP, NR) is probably one of the most anticipated projects this year. The development is sited along Prince Charles Crescent (adjacent to Jervois Road) and yields a total of 663 units. During the preview, we observed heavy traffic flow – the majority were Singaporeans while there were smaller groups of foreign Chinese.

What we like about the project? Location, location, location is probably what you hear frequently from property gurus. We simply love Principal Garden’s exclusive address – it is prestigious, and in close proximity to places such as Orchard, Dempsey and Quayside. Apart from its location, we think the project is reasonably priced and is the lowest priced (in terms of psf) vis-à-vis nearby condominiums. Attractively priced, we must say.

We rate Principal Garden a seven out of 10. Given that most units are smaller in size, we think that the project should gather good sales (forecast: 30%) on its first-day launch (31 Oct). While we think that furnishing and floor plan layouts could be better, overall the project is reasonably good given its prime location and attractive prices.

Special feature – The Crest & Alex Residences. To commemorate our inaugural #househunter report, we also feature two other property showflats, The Crest by Wing Tai (WINGT SP, NR) and Alex Residences by Singapore Land Ltd. Why these two projects? Well, despite being relatively old projects, they are the best comparables to Principal Garden. (Read Report)

Source : RHB Research

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