3 Orchard By The Park | 乌节三翠林 | Market On The Move

20 Apr, 2020：3 Orchard By The Park left 23 balance units, including 4-bedroom, 3-bedroom and 2-bedroom + study.

16 Sept, 2019：3 Orchard By The Park sold another penthouse at $32mil or $4,638psf for unit size of 6,900sqft,

18 Jun, 2019: 3 Orchard By The Park sold one penthouse unit of 6,555 sqft at $31.5mil, or $4,805psf.

2 July, 2018: YTL Land & Development will launch its luxury  condo – 3 Orchard By The Park in Dec 2018.

20 June, 2018: Park House, which is close to the site of 3 Orchard By The Park was sold at a record price of $2,910 for collective sale to a subsidiary of Hong Kong-listed Shun Tak Holdings.

3 Orchard By The Park | 乌节三翠林 | Luxury Tropical Freehold Condo in Orhcard Boulevard

3 Orchard By The Park | 乌节三翠林 | Location and Amenities

3 Orchard By The Park is ideally located along the pretigeous Orchard Boulevard and opposite the upcming Orchard Boulevard MRT Station. Living within the ultra-luxury residential enclave that includes the prestigious Embassy Row and Orchard Road Shoppping belt, the prime address of District 10 is the hallmark of 3 Orchard By The Park.

Orchard Road in Singapore is  equivalent of Champs Elysees in Paris, Fifth Avenue in New York, Ginza in Tokyo, Nanjing Road in Shanghai. This prestigious shopping street is less than a five-minute walk from 3 Orchard By The Park. The new condo are surrounded by international brands, high-end shopping malls and luxury hotels.

The famous Orchard Road shopping street in Singapore is set to be upgraded even further in the near future. When the street is fully implemented, 3 Orchard By The Park residents will be able to enjoy a dignified and elegant lifestyle and be adjacent to the splendid Tanglin and Orchard Road bustling downtown. Once it blends art, entertainment and shopping, Orchard Road is bound to become the artery of life in this dazzling eastern metropolis.

There is some bus stop at the downstairs of 3 Orchard By The Park, for easy access to the city and the entire island.  The condo residents will enjoy the romance and warmth of a tropical park and a natural oxygen bar from Singapore Botanical Gardens, a World Natural Heritage Site. It is just less than a 10-minute drive from 3 Orchard By The Park.  The iconic Marina Bay Sands and the bustling financial district of Raffles are less than a 15-minute drive away.

3 Orchard By The Park | 乌节三翠林 | Site Plan and Facilities

3 Orchard By The Park is the inspiration from the tree-lined Orchard Boulevard and Singapore’s Botanic Gardens. It’s the first upscale luxury condominium project in Singapore by Malaysia-based YTL Group and Italian architect Antonio Citterio. The project designers envisioned three 25-storey residential towers standing amidst lush tropical gardens, maximizing green ecology and light design, blending natural landscapes with bright sunlight and residence. The developer aims to create a luxury accommodation experience for the high-end buyers that is elegantly simple but without losing its personality. 3 Orchard By The Park embodies Antonio Citterio’s vision of a “Villa in the Sky”, with 77 luxury units across 3 towers with different themes of water, wilderness and woods.

Designed to enrich your senses, the surrounding landscape creates a picture of harmony in the choicest residential acreage in Singapore. Artfully unconventional, the Wood Tower juxtaposes the rawness of materials with the warmth and sophistication of effortless luxury. A designer library lounge that combines relaxation with personal growth and is a reflection of Citterio’s approach to elegance and style. Discover the perfect sanctuary that presents a laidback way to experience the cosmopolitan with a sense of calm.

Resident’s entrance is a private lift lobby that opens out into a manicured landscaped terrace. Yield yourself to nature’s caress. Here the levels of the residences become viewing platforms to panoramas of verdant trees rising above a colourful array of flowering plants. Bathed in natural light, the living and dining areas flow with a heightened feeling of space. The Wilderness Tower defines new standards of extraordinary living.

Discover a haven of botanical vibrancy at the Wilderness Tower zone. A rich and evolving tapestry of pathways, vistas and enclosures in a landscaped environment of manicured greenery and watery cascades. In the condo, two rare and exquisite Vanda orchids named ‘Vanda YTL’ and ‘Vanda Andrea Bocelli’, presented by the Singapore Botanic Gardens in honour of YTL’s outstanding contribution, thrive lusciously in enchantment. Find your breathing space in a secret garden that truly captures the prestige of a home in a botanical garden.

Thoughtfully worked into the design of the Water Tower are two distinctive water features, along the driveway and at the sculpted entrance courtyard. Adding a splash of magnificence are plants sculpted into wavy patterns to create a unique relationship with the environment.

For the select few with the most discerning of tastes, luxuriate in the Water Tower’s hallmark double volume living space, where you may experience the duality of loft living. Intimate and stylish, the upper and lower levels of the interior are separated by a sculptural winding staircase, which is no doubt the greatest work of art, to add an artistic note to the space.

3 Orchard By The Park will offer its bespoke concierge service to greet its residents everyday. The concierge is on hand to ensure that living in 3 Orchard By-The-Park is more than an assent to living well, it is the luxury of knowing everything is taken care of. Refined and exclusive, the expertly trained staff inspires confidence and an effortless sense of living.

3 Orchard By The Park | 乌节三翠林 | Unit Layout and Interior Design

Standing along the sought-after tree-lined Orchard Boulevard, the luxury condo 3 Orchard By The Park is designed by world-renowned Italian architect and designer Antonio Citterio. There are only 77 exclusive apartments spreading over three distinct 25-storey towers, named Wood, Wilderness, and Water. Landscape designer ICN Design International created a lush, tropical garden within the 62,179 sq ft grounds, in keeping with Citterio’s vision and inspiration from the Singapore Botanic Gardens.

The newly-completed development has a mix of two-, three- and four-bedroom apartments with sizes ranging from 1,066 to 2,260 sq ft. AntonioCitterio had designed the high-floor units as “villas in the sky”, with some apartments featuring private lift lobbies at the private garden terraces; or apartments with private pools in the balconies.

Antonio Citterio had also selected the furnishing and fixtures as well as custom-designed the finishes of the apartments and residents’ facilities. For instance, each apartment features the Arclinea gourmet kitchen system that was specially crafted by him. Bathroom fixtures and sanitaryware, shower glass panels and bedroom wardrobe were custom-built to his specifications. Even the door handles, taps, and sinks were curated by Citterio.

Showflat Interior Design

 3 Orchard By The Park | 乌节三翠林| Floor Plans

3 Orchard By The Park| Luxury Home Market Update

3 Orchard By The Park is in the Orchard Boulevard enclave in District 10 of Core Centre Region (CCR). CCR region is down the ages famous for its many clusters of upscale private condominiums and apartments. The CCR residential market is also the most luxurious house segment where many properties sell at the most premium prices, for example, easily across $3000psf.

Singapore private home market has entered the new uptrend cycle after the soar of land bid from both Collective Sales from developers and Government Land Sales (GLS) Programme during the period from 2016 to 2018. According to the URA reported in January 2020, Singapore private home prices rose 2.7% in 2019, as compared with the 7.9% increase in 2018. In 2019, new private residential property sales by developers increased 12.7 per cent to 9,912 units too.

There is a genuine, underlying demand for the private home. The increase in new sales transactions and growth in overall prices indicate the resilience of private residential property.  In 2020, Market watchers expect the market trends to be similar to 2019, given that market fundamentals remain unchanged: interest rates are expected to remain low, while the economy is expected to improve slightly in 2020.

For CCR housing market, the overall price index decrease 1.7%, as compared to the increase of 6.7% in 2018, while the prices in City Fringe and mass market increased by 2.8% and 4.2% respectively. According to the URA media release, the transaction volume and price index are still in line with the historical trend, which demonstrates the sustainability of high-end residential market. 2019 observed a series of new high prices in many hallmark areas, such as Holland Village, Newton Circus, River Valley, Outram Park, East Coast and so on. In 2020, it’s expected that around 4,000 new non-landed residential units 23 projects could be launched in 2020 in the CCR region, while 6,000 units across 22 projects are expected to be launched in city-fringe region.

The new cycle of En Bloc sales fever has taken place in the residential market since 2016, given that the numbers of unsold developer projects hit the historical low and increasingly fierce competition in Government Land Sales (GLS) Programme. The land costs for private condominium projects have island-wide increased varying from 15% to 20% in different regions in 2018, not mentioned the benchmark land cost in 2016. In CCR market, the average land cost was over $1800psf in 2018, which transferred the average new development launch price in 2019 to jump up to among $2800 to 3500psf.  During last year, it has been transacted over $4000psf in the most prestigious Nassim Road, Orchard Boulevard, Ardmore Park, and Marina Bay area.

The high-end residential market has turned up following the rise of higher land cost since 2017. New sales price tag replace the old one that more new condo projects in city area have been sold at higher prices. High-end housing market have running into a new uptrend cycle that sales price across $3000 psf is not a miracle any more.

1) In city-fringe, freehold Sky Everton in Outram Park sold over $2550 psf at average, a $2895psf price was transacted for a high floor 2-bedroom unit. For 99-year leasehold project One Pearl Bank in Outram Park, there are around 50 units sold over $2500 psf. The highest transacted price is $2875 for some 36^th floor 3 bedroom units.

2) In the East Coast area, prime District 15, freehold project in Amber Road – Coastline Residences sold some 2 bedroom unit at $3,010 psf, together with other 5 unit sold over $2,800 psf in 2019. Even in the mass market, the integrated residential development next to Bangkok MRT Station – Sengkang Grand Residences have sold over 45 unit at above $1800 psf, the highest transaction price was $1,898 psf. This is absolutely incredible.

3) In the Orchard upscale area, like Orchard Boulevard, ultra-luxury new residential development, Boulevard 88 have witnessed its 4 penthouse units transacted around $4,899～$5,125 psf in 2019. Another neighbor luxury development – 3 Orchard By The Park sold its 2 penthouse units around $4,638 to $4,805 psf in 2019. Across the road, TwentyOne Angullia Park sold its last 7,718sqft penthouse unit at $4,146 psf in 2019.

4) In Dhoby Ghaut area, 99-year leasehold new condo Haus On Handy sold new record price for its 969 sqft unit at $2,913psf in 2019. Other 30 units from the new launch was sold over $2830 psf in 2019. It’s not believable that one year ago, the latest completion 99-year leasehold development in the close vicinity – Sophia Hills was sold only averagely at $1900 to 2200psf.

5) In Jiat Kim Street area, the fringe of River Valley enclave, luxury new condo – Riviere was transacted at average price of $2886psf in 2019, with 7 units was sold over $3000psf. The highest price was done at $3,305psf by some 1-bedroom unit at 36^th floor in June 2019, following the 2^nd highest price at $3,247psf was transacted for some 4-bedroomwith unit at 35^th floor with size of 2002sqft.

6) In the charming Holland Village area, the blockbuster new launch – the mixed development – One Holland Village Residences set up the historical high transaction prices since Nov 2019. Over 120 units was sold at between $2600 to $3300psf since then. The highest price was transacted for some high-floor duplex 4 bedroom at eye-catching $3363psf.  Another bouquet freehold new launch -Van Holland which is opposite to Holland Village sold over 10 units in Jan 2020 with average prices at $2950psf. Following this trend, another mega freehold new condo-Leedon Green in Leedon Heights launched in Jan 2020 and sold over 30 units with average transaction prices at between $2600 to $2900psf.

7) In Tanjong Pager, CBD area, Skyscraper luxury newly-completed condo – Wallich Residence sold its 2 junior penthouse units (59^th, 60^th floor, 3509sqft) between $4702 to $4987psf in 2019. In the rising star CBD area, along west side of Beach Road, South Beach Residences sold 2 penthouse units (42^th floor- 6,728sqft, 45^th floor- 4,424sqft) between $3,865 to $3,888psf during the period  of 2018 to 2019.

By reviewing those recent record-breaking transactions done in the residential market, it’s quite new normal for the high-end luxury new condo to be transacted across $3000~$3500psf. What if it is a brand-new, luxury development with communal facilities in the coveted address like Cuscaden Road? There is more than a decade since the Government sell a residential site in the Orchard -Cascaden- Orchard Boulevard area.

In the above table, we just summarize the major new launches close to Orchard Shopping belt in recent years. You can justify how rationale are the latest launch prices for 3 Orchard By The Park. Property consultants estimated that the land cost for the 3 Orchard By The Park site is around $2,525 psf, may translate to a break-even price of $3,100 to $3,300 psf, and a potential selling price of $3,300 to $3,700 psf for the current project.