The Peak at Toa Payoh looks for more 5rm flat buyers
There was an advertisement in the Straits Times today, calling for those interested to come for a walk-in selection of The Peak 5rm flats.
We initially assumed that being oversubscribed during the balloting, most if not all of The Peak would have been sold out.
However it now seems that The Peak @ Toa Payoh seems to be struggling on two fronts. On one hand there has been overwhelming demand for its 4rm flats. In fact it seems that most if not all 4rm units at The Peak has been snapped up. On the other hand, it is struggling to convince buyers to take up the excess 5rm units it had anticipated to sell.
The problem is that the majority of The Peak's units are 5rm flats (~63%), and according to some pictures taken by a forum member "fulltime" of www.myhometown.sg on the 17th of June, the take up of 5rms were less than desirable. Out of 20 stacks of 5rm flats available, only 5-6 stacks were well received. Meaning that there could be up to 70% of 5rm flats left unsold as of Wednesday.
Photos posted by "fulltime" in www.myhometown.sg. Green units without an orange dot highlights 5rm flats available.
Another photo of the other two blocks - the 5rm flats certainly don't look well received even after ballots were oversubscribed. On the other hand, the 4rm flats seem to have received overwhelming response and were sold out!
Perhaps it was a calculated move as 5rm flats carry a large premium over the 4rm flats which could translate into more profits. However it looks like the buyers have voted with their pockets, and this miscalculation could in the end prove costly to the developer.
If buyers could hold back long enough, it would be very interesting to see what kind of carrots the developer will dangle to get the cash register ringing again.
Images: "fulltime" @ www.myhometown.sg
We initially assumed that being oversubscribed during the balloting, most if not all of The Peak would have been sold out.
However it now seems that The Peak @ Toa Payoh seems to be struggling on two fronts. On one hand there has been overwhelming demand for its 4rm flats. In fact it seems that most if not all 4rm units at The Peak has been snapped up. On the other hand, it is struggling to convince buyers to take up the excess 5rm units it had anticipated to sell.
The problem is that the majority of The Peak's units are 5rm flats (~63%), and according to some pictures taken by a forum member "fulltime" of www.myhometown.sg on the 17th of June, the take up of 5rms were less than desirable. Out of 20 stacks of 5rm flats available, only 5-6 stacks were well received. Meaning that there could be up to 70% of 5rm flats left unsold as of Wednesday.
Photos posted by "fulltime" in www.myhometown.sg. Green units without an orange dot highlights 5rm flats available.
Another photo of the other two blocks - the 5rm flats certainly don't look well received even after ballots were oversubscribed. On the other hand, the 4rm flats seem to have received overwhelming response and were sold out!
Perhaps it was a calculated move as 5rm flats carry a large premium over the 4rm flats which could translate into more profits. However it looks like the buyers have voted with their pockets, and this miscalculation could in the end prove costly to the developer.
If buyers could hold back long enough, it would be very interesting to see what kind of carrots the developer will dangle to get the cash register ringing again.
Images: "fulltime" @ www.myhometown.sg
Review: HDB DBSS The Peak at Toa Payoh
Note to readers:
You can read the intro of The Peak at Toa Payoh here. This portion is dedicated to unit selection.
Facilities:
There were not many facilities that we would put as a plus point on the unit scoring chart. Only the playground, bus stop and fitness stations made it. We see the BBQ pit not as a facility one would use often and in fact sometimes a source of annoyance to residents living immediately adjacent to it.
We were a little surprised that a DBSS project did not offer basement parking, or at the very least direct lift access to every level of the multi storey car (even some premium BTO HDB projects are offering it). With no idea where the lift lobbies of the multi storey car park is located, we decided to also ignore accessibility to multi storey car park as a point of comparison.
Unfortunately we could not confirm the location of the substation or refuse chute collection points (where the truck backs in to collect rubbish). Readers might want to enquire on these points when selecting specific units. We also note that the locations of certain doorways are not clear.
Views:
Although we cannot be sure the wide open field north of the project will not be developed in future, this facing is preferable to the southerly view – which immediately faces a staggered row of blocks that can reach up to 27storeys. For south facing units, we recommend getting units at least on the 33rd floor to get a decent view.
East and west facings of the project are not an issue – at most low rise light industrial buildings.
Unit View, Door Facing map and Unit Scoring Chart:
A detailed Unit View and Door Facing map (North Facing). Red arrows are the Master Bedroom View. Blue arrows are the Dining/Living View. (Image: Brochure & Google Maps) Click for large image.
A detailed Unit View and Door Facing map (South Facing). Red arrows are the Master Bedroom View. Blue arrows are the Dining/Living View.(Image: Brochure & Google Maps) We deliberately left the stack numbers reversed, in case some people get it wrong! Click for large image.
Unit scoring in terms of desirability. Clickto download Unit Scoring Chart in excel format. Scoring of unit desirability is relevant within this DBSS project only. Please do not cross reference scores. While we try our best to give the most accurate information, we cannot guarantee our materials are completely accurate and free from errors. Always double check with HDB representatives.
Posted on 03-06-2009 16:32 | By Francis
Posted on 19-06-2009 14:42 | By Francis
2 comments:
For your information, if i am not wrong.. the peak is probably 85 percent sold?? The chinese quota has already been taken up... so i guess its not as doing as badly as u have suggested.
Cheers
Thanks for the info, I just cut and paste the article for my info. Do you have any info on SouthBank TOP.
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