Hi,
Understand there is a dilemma choosing between these 2 condos.
Let's do a comparison between them:
1) Both Tapestry and City Gate is 99 yrs lease.
2) City Gate TOP on 2018, tenure from April 2014, 311 units, avg PSF: $1,934 PSF, connectivity: 4.2/5, convenience: 3.8/5, CCR, developer Woh Hup, BCA quality ranked under main con no. 1 for 2019 and 2020.
3) Tapestry TOP 2020, tenure from Jul 2017, 861 units, ave psf $1,378 PSF, connectivity: 3.7/5, convenience 2.7/5, OCR, developer CDL. BCA quality ranked under top developer no. 1 for 2019 and 2020.
4) Developer: Both developers are renowned developers and contractors.
5) Tenure: City Gate remaining lease = ~92
Tapestry remaining lease = ~95
6) Tapestry current on sale: $1,4xx~1,7xx PSF (RCR)
City Gate current on sale: $1,9xx~2,3xx PSF (CCR)
7) Tapestry has more facilities since there are more units. City Gate has the advantage of connectivity and convenience since it is on the city fringe.
Personal opinion:
1) You missed the best time to enter into both projects.
2) If you see the avg psf listed above, you know you are paying for the premium.
3) You will enjoy the immediate or rather within few months to move in upon purchase.
4) And the benefit of seeing the unit before purchasing without the worry of choosing the wrong unit.
5) You shall also miss the capital appreciation enjoyed by 1st mover. The profit you may see is just a hedge against inflation at most.
6) Both project difference is only 3 years tenure which is quite insignificant with a remaining of more than 90 years lease.
7) You will need the convenience of public transport since you are not driving. Although grab or cab booking is quite convenient today compare to the past. But you could save some cost using MRT which is just 2 streets away in City Gate.
Tapestry is definitely out of way from public transport. Amenities wise, you have to prepare to pay more over at City Gate compare to Tapestry which is nearer to the neighborhood center in Tampines.
8) To pay an additional of $600 PSF, which is about $600k difference between both. Let's assume if you stay for 10 years, you are literally paying an additional $5,000 per month for City Gate.
I would think $5,000 is rather a lot to pay just for a connectivity convenience. If prepared to stay for 20 years, it is $2,500/month.
9) Since there are no capital upside, and connectivity and convenience are compensate with lower expenses on transport and amenities.
I would think Tapestry is a better choice.
Hope the above answer to your main concerns, but if there are more query, please feel free to contact me at
90110636
, or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.
Best regards
Ling CK
90110636
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer
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