Artra Condo Price

Artra Condo Price | The Artra Prices

The Urban Redevelopment Authority (URA) launched this site for sale by public tender on 20 September 2015. A total of 10 bids were submitted. The tender closed 12 November, and was awarded to the top bidder Tangs Skyline Pte on 17 November 2015.

Tangs Skyline, part of the Tang Group of Companies (otherwise known as Tang City Holdings), put in a top bid of SGD$376.88 million. This works out to $851 PSF per plot ratio for the land.

What is interesting is that the 2nd highest bid was just 1% lower. At SGD$373.1 million or $842 PSF PPR, by a JV of UOL Venture Investments and Singland Homes. In fact, the top 5 bids were all within a 4.8% range, indicating that the top bid was not an over-valued or over-enthusiastic one.

The Artra Condo Price . Artra Pricing AnalysisArtist’s Impression . The Artra . Click to Enlarge

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Artra Condo Price Projection · The Artra Pricing Analysis

It is always harder to estimate pricing merely based on the land cost PSF, if the development has a commercial component. That is because the value of the commercial space could be more, thus off-setting some of the cost of the residences. On the other hand, the developer could choose to value them equally, while keeping the commercial units for rental.

Assuming equal value, and overheads, construction and financing of $450 PSF, break-even PSF could be in the region of $1,300. Some industry experts have in fact estimated a break-even of about $1,350 to $1,400 PSF.

According to Mr Nicholas Mak, SLP International executive director, this would, “… provide the developer with a comfortable profit margin, based on the selling price of comparable new condominiums in the vicinity that range from $1,530 to $1,950 psf.”

Our estimate is that the Artra condo price range could be in the region of $1,500 to $1,800 PSF, varying with the unit facing, size, and level.

Note: Bear in mind that published average pricing for a project usually pertains to the pricing of mid-floor & mid-size units like 3 & 4 bedders. Average prices of 1 & 2 bedroom units are usually higher than the average stated PSF for a project.

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The Artra Condo Price Range · Market Analysis

There were 10 bidders for this site, and competition for it was quite keen. Which was hardly surprising, as the site is attractive given its nearness to Redhill MRT station, and its commercial component at the 1st storey.

What was surprising however, was that the top bid came in at the lower end of market expectations. In fact, it compares very favourably with the land price of other new projects in the vicinity that still have significant numbers of units for sale.

And since land price is a good barometer of eventual selling price, apart from rising construction costs, here are some statistics:

PROJECT LAND COST
PSF PPR
AVERAGE PRICE REMARKS
Alex Residences $970 PSF $1,900 PSF 2 min walk to Redhill MRT
The Crest $960 PSF $1,700 PSF 6 min walk to Redhill MRT
Principal Garden $821 PSF $1,620 PSF 1km walk to Redhill MRT
Commonwealth Towers $883 PSF $1,670 PSF At Queenstown MRT
Queens Peak $871 PSF $1,635 PSF At Queenstown MRT

For purposes of estimating the Artra condo price range, Alex Residences ought to be the one to look at, as it is the nearest, just an extra couple minutes walk from Redhill MRT station.

See this report for the news article on the land sale (opens in new window).

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THE ARTRA CONDO PRICE · SHOWFLAT VIEWING · VIP PREVIEW

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The Artra Condo @ Redhill MRT Station

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The Artra condo is a new mixed development that occupies a plum site in front of Redhill MRT station, at Alexandra View on the fringe of Orchard Road & the CBD. To launch for sale by the developer Tangs Skyline (Tang Group) in 2017.

Aerial View . The Artra Condo Location @ Redhill MRT Station . Click to EnlargeThe Artra Condo Site @ Redhill MRT Station

Artra is really the most conveniently located of all the residences in the Alexandra / Redhill area. Not only is it the closest to the MRT station, in fact directly beside it with not even a road in between, but it will enjoy the convenience of a childcare centre, and shopping mall, F&B outlets, and decent sized supermarket at its ground floor as well.

Artist’s Impression . Artra Condo @ Redhill MRT Station . Click to EnlargeThe Artra Condo Mixed Development

The Artra is part of a private condominium enclave, flanked by well-known developments like Ascentia Sky, Echelon, and The Metropolitan, which have mainly sold out. Redhill station is on the East-West MRT line, that runs right across the island, connecting Jurong Lake District on the west, and the Financial District of Raffles Place & Marina Bay to the east, and directly onto Changi International Airport.

Do arrange to view the showflat if you might want to live or invest here.

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The Artra Condo Highlights

The Artra Condominium Location PlanThe Artra Condo Location Plan | Courtesy of URA | Click to Enlarge

Main features of living at an Artra condominium unit:

  1. A home on the city fringe at the Alexandra area, just 5 to 10 minutes by car to the Orchard Road shopping belt and the Central Business District (CBD).
  2. Less than 15 minutes train ride from Raffles Place, Shenton Way & the Marina Bay Financial District.
  3. The sheer convenience of a mixed development, with everything at your doorstep – dining and fast food outlets, groceries from the supermarket, retail shops, childcare centre. With immediate access to the MRT network that reaches to everywhere else in Singapore including the airport.
  4. And if you tire of the shops and F&B joints downstairs, there are lots of enjoyable dining & relaxation options nearby. There is the laid back charm & greenery of Dempsey Hill with its spread of bars, restaurants & cafes. Or the buzz of Holland V with its eclectic mix of ethnic restaurants, eateries, and pubs with live music.
  5. For more traditional hawker food, try out the well-known hawker stalls at Mei Ling Street, Alexandra Village Food Centre, ABC Brickworks Market, and the character-laden lanes of Tiong Bahru.
  6. The Artra condo location should attract potential tenants. Besides all these attractions, it is on the edge of the upmarket Tanglin precinct & Orchard Road shopping district. It is also a short drive from Mount Faber, and the Telok Blangah & Southern Ridges green belt of parks & recreational facilities.

The Artra Mixed Development PlazaArtist’s Impression . The Artra Mixed Development Plaza @ Redhill MRT Station

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The Artra Condo · Showflat Viewing · VIP Preview

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