Monday, April 5, 2010

THE INTERLACE (Showflat Review)

Tag
The wife and I did mention in our first preview of THE INTERLACE (posted on 20th Dec 2009) that we will post an update on this project once the showflats are up. As promised, we decided to visit the "new" sales gallery yesterday.

As if to make up for lost time, the developers of THE INTERLACE (CapitaLand & HPL) have gone from zero showflat to a humongous two-storey temporary structure that houses 3 different types of showflat.

We will just concentrate on reviewing the showflats here, as we have already spoken quite extensively about this project in our previous post.

Type D1:  2465sqft, 4-Bedroom unit
The living/dining room is huge and rectangular in shape, and comes with 60cm X 60cm homogenous tiles and 2.85m ceiling height. You also get a large rectangular balcony/planter box area, which we reckon is about 200sqft and stretches across the whole length of the living/dining room as well as the 2 adjacent bedrooms. You can easily fit a long 8-seater dining table here, especially if you deck up the planter box. However, there is really little need to move the dining table out to the balcony given the huge living/dining space.

The kitchen is at the nearer end of the living/dining room as you enter the apartment. The wife was especially impressed with its size, as it is probably one of the largest kitchens we have seen so far. It comes with homogenous tiles floor and solid-surfaced worktop. However, the developers are rather stingy with the kitchen appliances especially with the price you are paying for the unit, as you only get “Bosch” hob/hood/oven. We were equally impressed with the generous yard area at the back of the kitchen - definitely sufficient space for laundry hanging and probably ironing too. The yard also houses a large utility room with a “built-in” toilet – perfect for your domestic helper.

The bedrooms are tucked towards the opposite end of the living/dining room across from the kitchen. The 2 common rooms are regular shaped but a tad small. You get a choice of either timber strip or laminate flooring - always opt for the later, the wife says.

The common bathroom comes with a standing shower stall (no rain shower here) and a solid-surface vanity top. However, the quality of the solid-surface material used left little to be desired, as there are very obvious scratch marks on the vanity top. This is despite the relatively short period of time since the showflat is up. You also get “Bravat” & “Hansgrohe” toilet/bathroom fittings.

The junior suite is longish rectangular shaped and again quite huge. You can easily fit a “Queen” or two “Single” beds inside and still have plenty of room to move about. The size extends to the attached bathroom, which has a standing shower stall (no rain shower, again) and the usual “Bravat/Hansgrohe” bathroom fittings.

The master bedroom is decent enough size and comes with ample wardrobe space. The master bathroom has a long bath and a separate standing shower stall, but without rain shower yet again. The same type of solid-surface vanity top and bathroom fittings apply. But what we really like about the master bedroom is the fact that instead of a solid wall that separates this from the adjacent common bedroom, you get a sliding door instead. So you have the option of keeping both rooms separate, or converting the adjacent common bedroom into a mega-size “walk-in wardrobe” or attached study.

Overall, the wife and I quite liked the layout of the Type D1 unit. However, our single biggest concern is the bathrooms, which are located in the middle of the apartment (Feng Shui taboo) and fully enclosed with no natural ventilation (aka windows). The apartment that we currently live in has a powder room that is similarly fully enclosed. Trust us when we tell you that the artificial ventilator will not do as good a job as windows. So be prepared for some rather “interesting” smell emitting from such bathroom. We have to keep our powder room ventilated constantly by keeping the door open, and investing majorly in scented sticks/candles.

Type B1(R):  3208sqft, 3-Bedroom unit
Before you go “wow” on the supposed gigantic size of this unit, Type C1(R) actually comes with a private terrace that we reckon is almost as big as the unit interior itself! For the private terrace in this showflat, you will see things like a private Jacuzzi, BBQ area with an adjacent sink, a long dining table and benches as well as lush landscaping. However, these are all “ideas” of how you can convert your terrace into, i.e. none of these items actually come with the unit. Having said that, the private terrace is an excellent idea if you happen to do a lot of private entertaining at home, and have the cash to do it up (and maintain it) nicely.

As you enter through your private foyer (i.e. the area just in front of your main door), the utility room (with built-in bathroom) and the yard is located on the left. The yard space for this unit is much smaller than the 4-bedder, so you probably need to hang your laundry out to dry at the private terrace, which you can access through a door on the right of the foyer and opposite to the utility room/yard area.

We liked the L-shape design of the living/dining room (which is very decent-sized), as it creates a distinct separation between the two areas. The living/dining room actually “wrap” around the square-shaped kitchen. The unit comes with similar type of furnishings and fittings as the 4-bedder.

One of the common bedrooms is longish in shape and a tad small, while the other common bedroom is of fairly good size. However, both rooms have rather small wardrobes. The common bathroom is of decent size, but again this is fully enclosed.

The master bedroom has a small “foyer” area with an L-shaped wardrobe. Again you find ample wardrobe space here as per the 4-bedder. The bedroom itself is rectangular-shape and very decent size. The master bathroom is again good sized and comes with both long bath and standing shower stall.

The wife and I especially liked the design of the living/dining room for the Type B1(R) unit, but find the private terrace a terrible waste of space that you need to pay for. We really do not see the need for private Jacuzzi/BBQ, since these facilities are already provided within the condo premise for common usage. The price for such exclusivity is simply too much for us to bear!

Type C1:  2056sqft, 3-Bedroom unit
Instead of the huge private terrace you get with Type C1(R), the Type C1 unit comes with a large balcony (we reckon about 300sqft or thereabouts). The layout of the unit is quite similar to Type C1(R), except that this unit actually has an extra powder room. The other difference is that there are several round pillars located within the unit, e.g. at the bay window area in the living/dining room and between the two common rooms, which is absent from the other two showflats.

Of the 3 showflats, the wife and I both liked Type C1 the best, as the unit is of good enough size and has a nice layout. We also like the fact that it comes with a separate powder room for guests.

Pricing wise, there was quite a bit of confusion on which unit is available at what block, given the complex design and layout of the blocks at THE INTERLACE. So we have only managed to get the prices of two Type C1 units for your reference:

• Block 208/206 (#06-54) – 2056sqft at $2,129,200 or $1036psf
• Block 196/194 (#03-26) – 2056sqft at $2,053,500, or $999psf

The reason for the lower psf price for the second unit, other than the fact that it is on a lower floor, is because the unit faces the intersection between the AYE and Alexandra Road.

The TYPE C1 units with the best facing are actually found in Block 214 (stack #66) – these units have a slightly different living/dining room design and face the greenery opposite Depot Road. You can probably see Hort Park and part of the Southern Ridge as well. However, all the Type C1 units in this Block are fully sold.
Site Map
Site Map
Block 208/206
Blk 206-208
Floor Plan: #06-54
#05-64
Block 196/194
Blk 194-196
Floor Plan: #03-26
#03-26 (C1)

The wife and I also recommend the Type C1 over the Type C2 units, as the former do not have odd-shaped bedrooms (see below).
C1 vs C2

If the above prices are representative of the current pricing for units at THE INTERLACE, there has not been substantial change in the psf price for this project since our last review in December 2009. Maybe this is an indication of the “price resistance level” that THE INTERLACE may be experiencing.

After viewing the showflats, the wife and I are still somewhat disappointed with the quality of furnishing you get at THE INTERLACE versus what you are paying for. But most of all, we remain concerned about the fully enclosed bathrooms, which we maintained is a terrible idea especially in a tropical country like ours.

43 comments:

Granite Worktops said...

Wonderful Blog! This article is impressive. Thanks for sharing the information.

The Folks @PropTalk said...

Your most welcome, Granite Worktops.

Please tell your friends about SG PropTalk. We are on a "readership" drive! :)

WILLIAM said...

Thanks for the review. Very good analysis information ; )

Anonymous said...

any units facing the swimming pools available, what is the price
thanks

Folks @PropTalk said...

Hi Anonymous (Oct 19th): Unfortunately we have not been keeping tab on the available units and prices for The Interlace. Are there any property marketing professionals out there that can assist with this query?

Anonymous said...

thanks your reply
one thing very strange, which units are available not known, the price not known, the developer playing the game ?
any idea how many units of whole project sold out at this moment ?
if i buy the unit at around price $1000 to 1100 psf for investment purpose, any potential to make profit for 3 to 4 years time of holding.
Certainly i know this is depending on the market sentiment, however, i just want to know is this project location is the prime area in singapore.
The price offered by the developer is reasonable ?
thanks again

Folks @PropTalk said...

Anonymous (Oct 20th): According to the URA data for Sep 2010, 590 of the 1040 units in total at The Interlace were already launched. And out of the 590 launched, 558 units have been sold. The median price for Sep was $1015, the lowest-price unit sold for the month was $885psf while the highest-price unit sold was $1,197psf.
In our humble opinion, $1000-$1100psf is still a fair price even in the current market. However, we do not have a crystal ball to tell if you will make a profit in 3 - 4 years' time (else we'll be rich!).
But if you are talking location - we certainly think that The Interlace is located in a prime area.
Hope the above helps!

Anonymous said...

thanks again your kind advice

as i aware that this project is 99 years leasehold, would this term damage the value of the property in medium or long term ? or there is no big difference between 99 years and freehold property nowadays in Singapore?

i see from your picture that the block 186 and 226 are facing the swimming pools and the southern greenery. Are these units also the best ? Any units of block 186 and 226 available since you said block 214 all sold out ? Would it be expensive due to its nice facing ?

thanks your patience

Folks @PropTalk said...

Anonymous (Oct 25): Freehold projects tend to hold their value better than 99-year leasehold developments... in general. The difference is especially prominent in a falling property market.
In regard to your other questions about best facing/remaining units/price, we suggest you speak with the marketing agent as it has been more than 6 months since we last visited The Interlace, so we do not have the latest info that you need.
It may be worth the while to visit the sales gallery if you are really interested in the project - we believe this is still up.

Anonymous said...

thanks a lot
i think i would buy one unit if the price is reasonable and the site is in the prime region of singapore.
Recently heard the news that the singapore stock exchange merge with Aust stock exchange, should be good news to singapore in long term view.
In next few years, i trust that demand for high quality apartments will be going up in singapore finance centre.
Hope this time the investment would be fruitful.

Anonymous said...

Hi I am Specialist of interlace. Recently the smallest unit available in interlace for sale by developer is 1593Sqft 3Bdrm and price average is 1000PSF.If anyone want to know more can email to catherinegpg@hotmail.com

Anonymous said...

Are there anymore 3br 1259sf units left, direct from developer?

Anonymous said...

Dear folks, love your articles and insights. Thanks for running this impressive show! Am in two minds between The Pearl @ Mt. Faber and The Interlace. The Pearl is closer to CBD, better view and am getting a quiet unit. The Interlace is high-profie, reputed developer and new launch. What to do?

The Folks @PropTalk said...

Hi Anonymous:
Unfortunately we do not know much about The Pearl @Mt. Faber. But with The Pearl, you are actually buying the exact unit that you have seen whereas for The Interlace, you have to base your decision on the showflat/floor-plan.
We agree that there is some added value associated with a new project that is high-profile and built by a reputed developer. However, all these usually come at a (higher) price.
And if you are buying for own-stay, sometimes you just have to go with your heart. Like you said it, that unit at The Pearl is closer to CBD, better view and a quiet unit...
Am afraid that is all we can offer in terms of opinions. Good luck in your decision!

Sim said...

Hi folks @proptalk, am considering of buying a unit at Interlace. Current rate is about 1000-1050$ psf. Following recent govt. measures, do you think I should hold on for 2-3 months hoping the developers or resellers will drop the price ? Also, how do units with different facing (AYE, Alexandra, Depot rd, inside-facing) compare with each other? Lastly, do you see any future triggers in that area which can bring the price higher to 1200-1300$ psf in next 3-4 years? Thanks!

Yeesh said...

Hi all,

I am part of the project team working at The Interlace. From what we have been hearing, there is no indication of price drop. In fact, there has been talk of a price increase of even up to 10-15% as the MRT station Labrador Park is coming up soon (the station is expected to be ready by mid/end 2011). These are the sentiments which we have been hearing even after the recent cooling measures. The only thing which is affected is probably the launch of the next phrase.

As for future triggers which u mention, the most obvious one would be the MRT station.

If u require more info, u may wish to contact me at limyishan@gmail.com.

Cheers,
Yi Shan

The Folks @PropTalk said...

Hi Sim: You may already have seen the response from Yeesh (thanks Yi Shan) to your questions on The Interlace.
While the wife and I cannot dispute the probability that prices for the project may hold firm (given the deep pockets of CapitaLand and possible concern that lowering prices for The Interlace may affect the prices of their other mega project - d'Leedon), it may be worth your while to wait for a month or two (maybe even three) to see if the latest cooling measures will translate to slightly lower prices.
Even if that does not happen, you may find the odd buyer (or two) with "buyer remorse" and decide to cash out. We reckon the first/second batch of buyers at The Interlace will probably still make a profit if they resell their units at below $1000psf.
With regard to unit facing, we will advise against units facing the AYE and especially those directly in front of the AYE/Alexandra Road overpass. This is unless you find traffic noise smoothing, or is prepared to bear with the noise for a higher-floor unit with cityview.
The best units (IOHO) are those higher-floor (10 and above) facing Hort Park/Labrador Park. However, we understand that most of these are already sold or not launched yet.
And with the inner-facing units, our main concern is that these will be a bit "dark" even during daytime.
Yeesh has mentioned about the upcoming Labrador Park MRT Station being the future trigger. This may be somewhat valid but we are under the impression that this MRT station is a good 15 - 20 minutes walk away. So not exactly at your doorstep, ala The Scala (Lorong Chuan).
Hope the above helps, and good luck!

dagger168 said...

Hi Folks
Looking at 3br for both The Interlace & D'Leedon. $1100psf vs $1500psf. D4 vs D10. Also taking into consideration that Capitaland paid a bomb for Farrer Court enbloc, can we say that Interlace seem a better buy even though her proximity to MRT further?
Kind regards
Dagger168

The Folks @PropTalk said...

Hi Dagger168: Call us old schools but District 10 will always be District 10 and as such, should continue to command a premium over the other districts. Whether the difference should be $400psf or lower will largely be dependent on prevailing market conditions.
But if people are willing to pay $1400psf for Centro Residences in AMK, then $1500psf for d'Leedon does seem ... reasonable... comparatively that is.

dagger168 said...

Thanks, Folks. I can't help but wonder if prime district like District 10 can continue to uphold its premium status even though some are sitting just a stone throw from public housing (no offence to HDB dwellers as I also stayed in one before)

Marc said...

@dagger168 - well, the HDB dwellers have got direct access to the MRT station at their doorstep. Underground MRT at that. Not many HDB blocks can claim a underground MRT station at their doorstep. Having said that, it all depends on what factors are important to your decision. Some want D'Leedon for the proximity to schools. But personally, I feel that its just too big a project to interest me - so many units, it will be a nightmare for the security guard to recognize who is and who isn't a resident.

Marc said...

@dagger168 - addon ... the HDB units there are probably equal in value to a mass-condo in the outskirts. So I guess many of them live their for ease of transportation and its central location. Different stokes for different folks I guess.

Anonymous said...

i studied the recent projects in singapore and concluded that interlace has great potential for investment purpose

1. very rare such big project in prime district in singapore
2. the estate has full facilities which cover all residents need
3. close to Orchard and Sentosa
4. more expatriates come to Singapore in next 5 years, who would like to stay in cosy condo like this
5, interlace is very good for rental return
5. lending interest rate still kept low in next 3 years
6. now we are facing inflation in coming years, the property price still going up

Marc said...

@anonymous 19/1/11 5:08PM
hi there and thank you for listing down all the benefits for interlace.

however, i'm sure someone would also be able to tell the readers all about the dis-advantages of interlace (not so near mrt, history of the plot of land, traffic conditions during peak hour etc. etc. etc.)

all in, purchasing property in singapore is a huge headache. so many choices, so many conditions and so many people with different viewpoints. its a tough world out there.

Anonymous said...

See what happen in next 2 to 4 years
price of interlace will be going up
low interest rate and increasing demand
I tried to buy the units facing pools and southern greenery of block 186 or 226.
But none available
anyone can help me?

Anonymous said...

Hi Folks, I have recently bought a unit at the interlace. And have been given a choice to select the flooring, parquet or dark brown laminated. Please suggest which one should I go for. Thanks a lot in advance :)

The Folks @PropTalk said...

Hi Anonymous (26/1/11, 11:34PM),
It is really a matter of personal preference, since the quality (and feel) of laminates these days are equal to parquet. If you ask the wife, she will prefer the later, while I am more a fan of laminate.
Not much help we know but there you go!

Anonymous said...

Which unit you bought?
Block 186 or 226?
Nice facing?
How much per sq ft?
Please let me know
I also have interest to buy

Anonymous said...

u might want to go and check yourself as the psf is different for different units and you will get a better idea of the various facings. Overall, it's an amazing project with tremendous future potential.

Yeesh said...

Hi all, the Interlace will be having a new launch tomorrow (Sat) and the prices will also be adjusted accordingly. We still do not have news of the new prices but we do not think the rise will be too high since the market is kinda down now with the new measures in place.

This new launch is very exciting as it has units which faces both the pool and also the southern greenery which is the view that is most sought after with the buyers.

So far, we are seeing a lot of interest in those units and we are receiving quite a few cheques for the booking of those units. If you are keen to have more info on the newly released units, you may contact me at 9624 8431.

Sincerely,
Yi Shan

Anonymous said...

Please advise us the update price
Thanks

Anonymous said...

Hi all, I visited Interlace yesterday to check out the updated prices and the new units released. They have released all the remaining units. But prices are about 10%-12% than before for both new and old units. Most of the units are priced between $1100 and $1200 region, while just about a month back most of the units were in $1000 to $1100 region.

Anonymous said...

The sales hot?
Or stuck

Any nice facing units?

Anonymous said...

agent says that city/Sentosa facing units will have good views. What do you think of blocks 216 and 218?

Anonymous said...

Block 186 and 226 facing swimming pools and southern greenery are the best
Per agent.
Please check whether available

Anonymous said...

Any more update information of interlace?
The sales good or stuck?
What is the update price?
Anyone can help me?
Thanks in advance.

Anonymous said...

Hi there,
Does anyone know who the interior designer for the Interlace showflat is?
The showflat is very well done.
Thanks!

koh said...

I have two units of interlace. Please contact me if you are keen

koh said...

Do call if you are keen 94557267

Anonymous said...

I am thinking of Interlace vs Dee Leedon. 3 bed room vs 4 bed room. any advise and recommendation? Thanks

Anonymous said...

what about Corals at Keppel?

Anonymous said...

Went to the showflat yesterday during open house. And visited the facilities. The facilities are overwhelming. Even with the huge no. of people, the facilities still seem to be more than adequate. The condo looks beautiful from every corner, but the prices have shot up...

Anonymous said...

can anyone tell me what is the reasonable price for a unit at this interlace condo? say 2room up to 3room?

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