First batch of site progress photos has been uploaded. View them here
Alexis Condo Photos
Tuesday, January 20, 2009
Developer Briefing postponed
(Previously scheduled on Wed 21Jan) Developer Briefing which will include Sales Preview Announcement will be postponed till after Chinese New Year (after 28 Jan onwards)
Saturday, January 10, 2009
Unit Type Data
Unit Types has been released. Want to know what unit types are available? Number of units? View it here at the Alexis Condo Information Page
Thursday, January 8, 2009
Official launch date 4th Feb 2009
Official launch date has been confirmed !
Also -
1 Bedroom area will be 430 Square Feet
and 1 Bedroom with Study would be up to 500 square feet.
Also -
1 Bedroom area will be 430 Square Feet
and 1 Bedroom with Study would be up to 500 square feet.
Tuesday, January 6, 2009
Developer has yet to finalise prices
While developer ECPrime has yet to finalise Alexis' prices, it has already tweaked the product given the weaker market sentiment.
FULL ARTICLE
Jan 6, 2009 - The Straits Times
Joyce Teo
PROPERTY hunters put aside the gloomy economic outlook last weekend and turned out in force to check out - and even buy - new flats.
At Nova 88 in Balestier - likely to be the only new official launch so far this year - about 500 visitors thronged the showflat, said developer Roxy Homes.
Some 20 per cent of the flats in the 88-unit development were sold at prices ranging from $900 to $990 per sq ft, it said.
Potential buyers also flocked to re-launches, indicating that pockets of the market are still showing signs of life.
The Nova 88 showflat numbers were similar to those pulled in during the firm's launches last year, but like most other developments, sales have slowed, with buyers and sellers sitting on the sidelines looking for clearer market signals.
Roxy Homes launched Nova 88 last Saturday after holding special previews over two weekends last month.
'We don't hold back launches as our properties are in the mid-range segment,' said Mr Teo Hong Lim, chief executive of listed Roxy-Pacific, the developer's parent.
'If we advertise today and there are no visitors to our showflats, then the market is dead. But now, potential buyers are still going to showflats, so that is the positive part.'
When the Asian financial crisis hit in 1997, showflats were empty, he added.
Still, demand has taken a big hit since Lehman Brothers collapsed in September last year.
'In the pre-Lehman collapse days, I would have launched Nova 88 at $1,250 psf,' said Mr Teo. 'Now, our style is to go for a reasonable price because we are serious in selling.'
Nova 88 is on the former Aik Khiam Mansion site and a piece of state land, which together cost just under $350 psf of gross floor area.
'The sales are encouraging,' said a property consultant of the Nova 88 sales.
The consultant, who declined to be named, said developers are holding off launching projects as buyers are worried about their jobs or possible pay cuts and few are in the mood to buy.
Some property hunters also headed for showflats of relaunches and recent launches such as The Ambra, The Lucent, Lucida and Newton Edge.
Most launches will come only after Chinese New Year later this month. The 293-unit Alexis near Queenstown MRT station is one of them.
While developer ECPrime has yet to finalise Alexis' prices, it has already tweaked the product given the weaker market sentiment.
'We adjusted the mix recently such that a large number of the units will be smaller and thus more affordable,' said director Melvin Poh.
At least 80 per cent of Alexis comprises small units, with one to two bedrooms, up from 60 per cent previously, he said.
At Nova 88 in Balestier - likely to be the only new official launch so far this year - about 500 visitors thronged the showflat, said developer Roxy Homes.
Some 20 per cent of the flats in the 88-unit development were sold at prices ranging from $900 to $990 per sq ft, it said.
Potential buyers also flocked to re-launches, indicating that pockets of the market are still showing signs of life.
The Nova 88 showflat numbers were similar to those pulled in during the firm's launches last year, but like most other developments, sales have slowed, with buyers and sellers sitting on the sidelines looking for clearer market signals.
Roxy Homes launched Nova 88 last Saturday after holding special previews over two weekends last month.
'We don't hold back launches as our properties are in the mid-range segment,' said Mr Teo Hong Lim, chief executive of listed Roxy-Pacific, the developer's parent.
'If we advertise today and there are no visitors to our showflats, then the market is dead. But now, potential buyers are still going to showflats, so that is the positive part.'
When the Asian financial crisis hit in 1997, showflats were empty, he added.
Still, demand has taken a big hit since Lehman Brothers collapsed in September last year.
'In the pre-Lehman collapse days, I would have launched Nova 88 at $1,250 psf,' said Mr Teo. 'Now, our style is to go for a reasonable price because we are serious in selling.'
Nova 88 is on the former Aik Khiam Mansion site and a piece of state land, which together cost just under $350 psf of gross floor area.
'The sales are encouraging,' said a property consultant of the Nova 88 sales.
The consultant, who declined to be named, said developers are holding off launching projects as buyers are worried about their jobs or possible pay cuts and few are in the mood to buy.
Some property hunters also headed for showflats of relaunches and recent launches such as The Ambra, The Lucent, Lucida and Newton Edge.
Most launches will come only after Chinese New Year later this month. The 293-unit Alexis near Queenstown MRT station is one of them.
While developer ECPrime has yet to finalise Alexis' prices, it has already tweaked the product given the weaker market sentiment.
'We adjusted the mix recently such that a large number of the units will be smaller and thus more affordable,' said director Melvin Poh.
At least 80 per cent of Alexis comprises small units, with one to two bedrooms, up from 60 per cent previously, he said.
Sunday, January 4, 2009
Defered payment scheme
Indicative prices are about $900 to $1,000 psf, according to agents. The developer is offering a payment scheme similar to deferred payment, where buyers can pay 20 per cent upfront and then nothing until completion.
FULL ARTICLE
Jan 4, 2009 - The Straits Times
Fiona Chan, Property Reporter
The property market is off to a quiet start this year, with some developers even closing their show-flats temporarily in response to dwindling crowds.
But as home prices continue to fall, house hunters tempted back into the market do have some places to go shopping.
Several small developments are coming on the market, while other projects that have been launched earlier are giving discounts or other buying incentives.
In the Balestier area, developer Roxy Homes is soft-launching two freehold boutique projects this weekend - Nova 48 in Prome Road and Nova 88 in Bhamo Road, both off Balestier Road.
Nova 48 has 48 units while Nova 88 has 88. Both are priced at about $1,000 per sq ft (psf), with a one-bedroom unit of 506 sq ft in size starting at about $500,000.
Another upcoming launch is that of Alexis in Alexandra Road. The freehold development has about 300 units and is less than 10 minutes' walk to Queenstown MRT Station, according to property agents.
Indicative prices are about $900 to $1,000 psf, according to agents. The developer is offering a payment scheme similar to deferred payment, where buyers can pay 20 per cent upfront and then nothing until completion.
But as home prices continue to fall, house hunters tempted back into the market do have some places to go shopping.
Several small developments are coming on the market, while other projects that have been launched earlier are giving discounts or other buying incentives.
In the Balestier area, developer Roxy Homes is soft-launching two freehold boutique projects this weekend - Nova 48 in Prome Road and Nova 88 in Bhamo Road, both off Balestier Road.
Nova 48 has 48 units while Nova 88 has 88. Both are priced at about $1,000 per sq ft (psf), with a one-bedroom unit of 506 sq ft in size starting at about $500,000.
Another upcoming launch is that of Alexis in Alexandra Road. The freehold development has about 300 units and is less than 10 minutes' walk to Queenstown MRT Station, according to property agents.
Indicative prices are about $900 to $1,000 psf, according to agents. The developer is offering a payment scheme similar to deferred payment, where buyers can pay 20 per cent upfront and then nothing until completion.
Thursday, January 1, 2009
Tuesday, March 11, 2008
New form of deferred payment - but with a catch
| The Straits Times - March 11, 2008 |
| New form of deferred payment - but with a catch |
| Property developers and banks revive old scheme that involves interest absorption |
| By Fiona Chan |
| IN A bid to tempt home buyers back into the cooling property market, banks are teaming up with developers to bring back deferred payment - or something like it. They are resurrecting an older scheme known as interest absorption, which also allows buyers to postpone the bulk of their payments on new homes. This decade-old plan had been phased out over the last few years in favour of the more popular deferred payment. But it is now making a comeback after the Government pulled the plug on deferred payment plans last October, saying they encouraged speculation in the then red-hot property market. Though interest absorption may sound like deferred payment, here's the catch: The home buyer has to take up a bank loan at the point of purchase, with a specific bank that has tied up with the developer to offer the scheme. In contrast, the deferred payment scheme did not require a buyer to take a loan until the home was fully built. This was thought to encourage speculation, as one could buy and resell many unbuilt homes without taking a single loan. Interest absorption plans offer two extra deal sweeteners. First, the developer absorbs interest payments on the loan until completion. Depending on the loan amount and tenure, this could work out to a few tens of thousands of dollars. Another perk: Most units sold under interest absorption schemes do not cost more than those under normal payment plans. Developers used to charge slightly more for units sold with deferred payment. Industry experts say interest absorption plans were introduced in the late 1990s to spur home-buying in the downturn. Then, not all plans had a deferred payment component - in some, developers just absorbed interest until completion. Only United Overseas Bank (UOB) and OCBC Bank offer interest absorption plans with a deferred payment feature. They have tied up mainly with smaller developers and projects. One is Cosmo in Guillemard Crescent, which is almost fully sold. While final figures are not in yet, developer Fission Development expects about half to opt for interest absorption. 'It's a good arrangement for everyone as the bank does a credit assessment of the buyer...so that takes a lot of the risk out of the equation for the developer,' said Fission managing director Melvin Poh. UOB is believed to have provided interest absorption with deferred payment for at least five projects launched in the last three months. A bank spokesman said the response 'has always been positive...even before the abolishment of deferred payment'. OCBC is offering the plan at a few other developments, but declined to comment, citing competitive reasons. On the whole, interest absorption schemes shift the risk of buyer default from the developer to the bank, read more |
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