THE TRE VER is the latest residential project jointly developed by UOL Group and Singapore Land. Designed by multiple-award-winning architect WOHA, this masterpiece development with 729 residential units redefines the standard of home living with its sustainable and living architecture that is unique and enduring.
THE 4G QUALITIES
The Tre Ver harnesses all the “4G” qualities that home-seekers aspire to own. In addition to its great city-fringe location at Potong Pasir Avenue 1,
The Tre Ver has a 220m-long river frontage and provides a seamless connection to the 10km-long Kallang River, which the government has earmarked for transformation into the next recreation hub.
The next G is green and sustainable design. Green architecture is elevated to a new level by the group. The Tre Ver is the pioneer city-fringe condominiumproject with a biophilic design — integrating nature such as vegetation, flowing water and sunlight with the built environment. Studies have shown that biophilic elements have a therapeutic effect and improve the health, well-being and productivity of human beings.
The third G is the growth potential of Potong Pasir. Once an overlooked gem, Potong Pasir has been rejuvenated in recent years, with new private residential and commercial developments coming up in the area. The Tre Ver is located within walking distance of Potong Pasir MRT station and other amenities. Knight Frank Research shows that non-landed private homes located within 2km of Potong Pasir MRT station have seen an average price increase of 25% over the last three years (see chart).
Average prices of private non-landed residential property located within 2km radius of Potong Pasir MRT station (2008 to 2018 YTD)
New private-home prices in District 13 — where The Tre Ver is located —were still 11% lower in 2Q2018 compared with those in District 19 in the northeast region, where some new launches have pushed prices to new highs. The Potong Pasir-Woodleigh precinct will also benefit from its proximity to the upcoming Bidadari estate as it takes shape in the next three to five years.
The fourth G is gain-on-gain, given the rarity of private waterfront homes in the city-fringe area. The Tre Ver will be the first private condo in Potong Pasir to have direct frontage of Kallang River. Knight Frank Research also found that private homes with such riverfront attributes command a price premium of at least 20% over other developments located further away.
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PRICE ADVANTAGE
Notwithstanding the recent property cooling measures, the popularity of The Tre Ver was seen from its strong sales performance, with 140 units sold within three hours of balloting on launch day. The majority of the buyers were Singaporeans who were buying for their own occupation. The one- and two-bedroom units were the most popular, accounting for 70% of units sold. Three- and four-bedroom units made up the remainder of the units taken up.
The average transacted price of $1,550 to $1,600 psf for The Tre Ver on launch day translates into a 10% discount to the prices at a recent launch in the Woodleigh neighbourhood. For early birds at The Tre Ver, that translates into a price upside of at least 10% when the property market gains strength in the future.
Visit The Tre Ver’s sales office on Youngberg Terrace near Woodleigh MRT station (Exit B)
Opening hours: 11am to 8pm
Tel: 6100 1319
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This article appeared in The EdgeProp Pullout Issue 845 (August 27, 2018) of The Edge Singapore.