I was taken by surprised on Jan 22 2018, when the straits times reported the launch of New Futura. Of the 25 units opened for sale on opening day, 18 were sold! And this was at an average selling price of $3,200 per square feet. Given that property sales had taken a backstage the last couple of years, I couldn’t help asking myself if the property market is again making a comeback and could the topic of property come alive again in 2018.
I started wondering too, if SHPD should ignore this trending topic or take a greater interest reporting it. We are, after all, not a property blog but a lifestyle one, covering topics like family and home decor. But then again, in land scarce Singapore, hasn’t property ownership always been a part of our lifestyle aspirations? And if so, shouldn’t a Singapore Lifestyle blog like ours take an active interest in discussing this trending topic? I was convinced and so decided to go investigate this sudden interest in New Futura and its successful launch.
My Investigation Into New Futura
I started by studying the floor plans, site plan and unit mix, all of which are easily found in the CDL official brochure I found on the Internet. I supplemented this knowledge with an actual site visit, driving pass the area plus hanging around in the vicinity of the condo. To get even more information on this upmarket condo, I browsed through and read many New Futura websites. Unfortunately the quality of many of these sites were questionable. Some stated the architects as ADDP while others claim New Futura had a state of the art tennis court. The Straits Times had clearly reported the architects as Skidmore Owings & Merrill and no matter how many times I looked at the site plan, I could not find a tennis court listed as a facility, let alone a state of the art one.
Digging further, I stumbled on this site: newfuturaproject.net. The content was surprisingly much more well written when compared to the previous sites I visited. From this site, I learned of New Futura’s originals, that it was sitting on a 87000 plot that used to be the original Futura condo, bought over by CDL in a collective sale in 2006.
To date, here are the facts I have gathered of New Futura:
Though $3,200 may sound prohibitively high to many of us, it is actually pretty competitive priced especially when compared to new projects around the vicinity. Units at Gramercy Park, for example have also transacted at above $3,000.
The project is built on a plot CDL secured in a collective sale in 2006. It was the site of the original Futura Condo and sits at the highest point of Leonie Hill Road. Given that freehold land on prime district 9 is extremely rare these days, it added to the appeal of this property.
Most Popular Unit Types
Most of the units sold are the 4 bedroom aparments. This surprised me too as I would have thought that given the price tag, the 2 bedroom units would move first. From the Straits Times report, I further learnt that one-third of the buyers are Singaporeans. The rest are either PRs or foreigners, I would presume from China and Indonesia. Could this be the explanation as to why the 4 bedroom units were the first to go?
My Failed Attempt to Visit the Showflat
I wanted to cap off this report with an actual visit to the New Futura show flat. Given that I was impressed with newfuturaproject.net, I contacted the agent. Alas, I was politely turned down with the reason that visits to the show flat are strictly via appointment and reserved only for serious buyers. And rightly so, given the exclusive nature of this project. Perhaps I should not be so honest about my intentions the next time around.
Would I buy New Futura? If I had the money, why not. It’s conveniently located in the heart of District 9, walking distance both Orchard and Great World City, it’s freehold and the unit sizes are luxurious when compared to new condos in heartland areas. But unfortunately, I’m not wealthy enough, so far now, I will still have to make do with my humble lodgings. New Futura will be my motivation to work harder. Perhaps in a few years.