If you are active looking for property. I assume you would have attend property seminars talking about this 2 projects that are side by side in Bishan. Both are build by CapitaLand and are located in a prime suburban location. But in terms of profitable transaction. They are a world apart. You can refer to edgeprop
for more information. Sky habitat has lots of unprofitable transaction. Whereas Sky Vue has mostly profitable transaction.
Sky habitat was launched at a pretty high prices back during the booming market. The architect was a renowned foreign architect that cost more to engage and obviously lead to higher selling prices. Unfortunately, the layout are complicated as each stacks are different and there are big balcony that are too costly to pay on a per square feet basic. Some units also have odd shape and are too near one another for comfort. They sky pool is nice to swim in but not from a maintenance cost point of view. Many owners today can hardly breakeven. Some that bought at discounted prices can still exit today.
On another hand. Sky Vue was launched at a lower prices at approx $200-$300psf lesser. The units are identical for each floor so this help buyers to make decision better. The unit sizes are smaller but comfortable for small families and investors.
Moreover, there are no odd shape and no hefty foreign architect firms to pay.
Bingo! Capitaland got it right this time and Sky Vue was fully sold pretty fast. Today, most owners reap attractive profits.
So what is the learning lessons from these two popular condo in Bishan?
1. Support local architect firms. Becos they cost less to build. Afterall we have a Dept of Architecture in NUS. Condo design are identical anyway. It’s just copy and paste and make do with some deviation.
2. Timing of the market. A good product at a good location is a sure win. But if you enter wrongly. How good a product also cannot save you.
3. Practical living space. Sky Vue design and layout suit small familes, DINK and singles. No frills living space was the essence.
Lastly, if you have gone to Bishan Active Gym across the road. You would have seen the arrow of the mosque minaret pointing upwards towards Sky Vue direction.The stars are already there. It’s just about beliving in it.