Pinetree Hill begins previewing at prices as low as S$2,236/psf
Pinetree Hill is a new residential project by UOL Group located in Mount Sinai. The prices start at S$2,236 for a square foot.
UOL jointly develops Pine Grove, a 99-year leasehold condominium in partnership with Singapore Land Group.
It was estimated that this would work out to S$1,318.27 per plot ratio. This was at the high end of the market’s expectations. Market watchers predicted that final selling prices would range between S$2,300 – S$2,400/sf.
Pinetree Hill comprises of 520 apartments over three 24 storey towers. UOL stated that approximately 78 per cent – or 407 units – of them will have one-to-three bedrooms.
Prices of one bedroom units starting from 538 square foot (sqft), with study included, start at about S$1.2 million. Two-bedroom apartments (from 700sqft) start at S$1.6m, while three bedroom units (from 969sqft) start at just under S$2.2m.
A four-bedroom apartment (starting at 1292 sq ft), and a five bedroom unit (1,733 sq.ft. )will start at S$3.2m and S$4.3m respectively. A penthouse with a floor area of 2,874 ft2 is also available.
UOL said that Pinetree Hill was the first condominium launch in Mount Sinai’s area in almost 15 years. The Trizon by SingLand launched in 2009.
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The Trizon’s resale average price was S$2,067/sq ft in the past 3 months, according to Caveats Data. A 2,067 sq. ft. unit was purchased for S$4.2m or S$2,021psf in early June.
Prices for private condos near Pinetree Hill have ranged from S$1,002psf up to S$2,373psf over the last three-month period. In the last two weeks, a 936 square ft unit in 99-year leasehold Dover Parkview was sold at S$1.3m (S$1,410/sqft).
Liam Wee Sin of UOL said Pinetree Hill is receiving “a very healthy amount of inquiries” due to the central location, as well as its proximity to a number popular primary school. The condo can be found near the East-West Line stations of Dover, Clementi and Maju.
A second Pine Grove, adjacent to the parcel on which Pinetree Hill sits, will be offered for sale under the government’s land sales program.
UOL expects to launch a second residential project in this year. The redevelopment of Watten Estate Condo. UOL, SingLand and SingLand bought the property in October 2020 for $550.8M, or $1.723 per sq ft ppr.
The two partners then bought Meyer Park en-bloc in a $392.18million deal in February of this past year. The price translated as $1,668/sf/ppr.
Pinetree Hill’s sales will begin on 15 July and the project is expected to be completed by 2027.
Potential buyers can also consider Blossoms by the Park, which is developed by EL Development and located at the heart of One-North business park.
Source: https://www.businesstimes.com.sg/property/pinetree-hill-mount-sinai-start-preview-prices-s2236-psf