Palm Haven

[myfs_94474]

Hello Master Cecil,
Do you have any comments on the freehold condominium Palm Haven and Palm Grove in Upper Serangoon Road. They are supposedly near Kovan MRT. Both projects are opposite each other.
Really liked your tips on house hunting..
Thanks!
Jen.

[Cecil Lee]

Dear Jennifer,
I am glad that you found tips on house hunting useful.
Part I: Palm Haven
Location: Palm Grove Avenue
Developer: CapitaLand
Tenure: 999 years
Total Units: 48 with 2 rooms of 99 to 100 sq m and 3 rooms with PES 115 to 150 sq m. And penthouse with 170-215 sq m.
Overall, the most pleasant thing about this development is that is 4 storey high and ground units have PES.
Such low level apartments are quite `rare' in new developments.
Previously, in 2000, most of the units that went on `secondhand sale' were level 2 with psf of around $690.
In 2000, some of the 2 bedroom apartments were sold for as high as $700 psf. Last year, the price went down to as low as $624 psf for these 2 bedroom apartments. For the 3 bedroom types, it went as low as $428. But the mean range is between $460 to $620.
Overall, in my opinion, I quite like this development especially since it is low height and the location is acceptable (shapes and forms).
In terms of value; it is 999 years not entirely freehold. But, in the future e.g. 60 to 80 years from now, there is a much higher chance of the value in `enbloc' sale vs selling each unit alone. And, this is a plus point.
But with only 48 units, do check out what is the monthly mainenance fees like. Often, it is higher than a full condo, but should not be more than $350 p/mth else it is on a high side.
Warmest Regards,
Cecil

Quote

On 7/28/2003 1:15:26 AM, Anonymous wrote:
Hello Master Cecil,
Do you
have any comments on the
freehold condominium Palm
Haven and Palm Grove in Upper
Serangoon Road. They are
supposedly near Kovan MRT.
Both projects are opposite
each other.

Really liked your

Quote

tips on house
hunting..

Thanks!
Jen.

[Cecil Lee]

Dear Jennifer,
Palm Grove Condominium
Both Palm Haven and Palm Grove share the same developer: CapitaLand.
Both are 999 year leases. Palm Haven's lease started from 1/9/1876. While Palm Haven's has a better advantage since it started from 1999.
Currently, this area only allows for low rise residential estate. Therefore, both Palm Haven and Palm Grove have low rise units. Each development at 4 storey high.
Besides consideration such as the remaining lease time-limit and psf; in terms of external Feng Shui, the smaller development (Palm Haven with 48 units as oppose to 111 units for Palm Grove) has better shapes and forms.
If one notice the attached site plan for Palm Haven:
1. It looks like a crab with two claws - which seems auspicious. In an alert position.
2. Air pockets is allowed to circulate into the development (water positions).
As for Palm Grove, the external shapes and forms is not ideal since all the internal units seems to be `entrapped' in an inner circle - which is not advantages for qi flow.
In terms of Feng Shui, if I were deciding between the two, I could perhaps, select Palm Haven (provided the facing positions etc... is favourable to me).
I believe, the developer still has outstanding units in either of the development. In my opinion, a reasonable buy would be in the region of $620 p.s.f or less.
(Please note that for sites that include Personal Enclosed Space PES or Penthouse, often, the p.s.f. is much lesser e.g. the 3room apartments in Palm Haven with psf that may go down to as low as $590 or there abouts.
Warmest Regards,
Cecil