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Bukit Sembawang Estates - Vermont pasture for bulls?
Following the successful launch of Verdure (FH, 75 units) — 64 out of the 75 units launched in April were sold at an average price of circa S$1,400psf — Bukit Sembawang (BS) could release the first phase of the landed housing project along Ang Mo Kio Avenue 5, named Luxus Hills (formerly “Lot 9425C Mk 18”; 999-year, 944 units in total, Phase 1 comprises 78 units) for sale next. We assume that these landed housing units will be priced at S$1.1-1.2mn each, more or less what new freehold terrace houses in Yio Chu Kang (Amanusa for instance) are transacting for in the secondary market.Besides Luxus Hills Phase 1, BS has two other projects that are launch-ready — a prime luxury condominium project called Vermont at Cairnhill (freehold, 123 units) and a waterfront landed housing project called Watercove Ville in the northern part of Singapore, next to the Sembawang Park (freehold, 80 units). We had previously assumed that Watercove Ville would be launched for sale in the current financial year, together
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