Strong sales for new condo launches

30 June 09
The Straits Times

STRONG sales in the property market continued over the weekend as mass- and upper-mid- market launches drew crowds of buyers.

Within three days of its preview launch last Friday, the 68-unit Residences @ Killiney project sold 39 of 60 released units - with sales ongoing, a spokesman for developer Hoi Hup Realty said yesterday.

Preview prices at the Killiney Road condominium ranged from $1,700 per sq ft (psf) to $2,000 psf.

Opposite the condo at Devonshire Road, Allgreen Properties' One Devonshire has sold more than 95 per cent of its 36-storey, 152-unit freehold condo since its launch about two weeks ago.

In the Thomson Road area, Far East Organization sold 84 per cent - or 74 homes - of an initial batch of 88 units at a private preview of its Vista Residences over the weekend.

The 280-unit freehold project offers a range of accommodation from one bedroom to penthouse units starting from $960 psf.Far East will release another 45 units tomorrow - its official launch date - said Mr Chia Boon Kuah, chief operating officer of the firm's property arm.

HSR Property Group executive director Eric Cheng noted that the buying activity - which started in mass-market new condo launches - seems to have moved into the higher market segments.

'This is undoubtedly due to the stock market rally, more positive sentiment, and is enabled by the interest absorption scheme,' he said. The scheme allows buyers to pay a deposit and postpone monthly home loan payments until the project is completed. 'This is attracting the investors to come out in droves,' he added.

In the mass market, sales continued with Frasers Centrepoint announcing yesterday that its two projects, 8@Woodleigh and Woodsville 28, were sold out.All 330 units at 8@Woodleigh in Potong Pasir were fully sold last Saturday at an average price of $790 psf. And all 110 units of Woodsville 28 were sold by last Tuesday at an average price of $775 psf.

At Pasir Ris, half of the 142 units at Chip Eng Seng group's Oasis@Elias previewed over the weekend were sold, said its marketing agent CB Richard Ellis.

On the east coast, the 94-unit Parc Seabreeze in Marine Parade is selling well with the project close to 70 per cent sold, said HSR, which is marketing the project. Units are fetching from $1,050 psf to $1,550 psf.Mr Colin Tan, Chesterton Suntec International's head of research and consultancy, noted that there had been 'pent-up demand' resulting in strong sales activity, but added that this was 'not sustainable'.'Unlike the boom years, where foreigners made up a huge number of buyers, it is mostly locals who are on this buying spree,' he said.Property expert

Nicholas Mak expects a moderation of buying activity in the coming months, especially as developers continue to revise their prices upwards.

Meier Suites

Meier Suites Launching Soon!

Meier Suites Located on Prime District 15 of Meyer Rd (Off Meyer Road Ex Margate Mansion)

Description
Developer: SB (Meyer) Development Pte Ltd (A subsidiary of Soilbuild Group Holdings Ltd)
Full condo status with full facilities
Expected TOP: 31 Dec 2014
Expected Date of Legal Completion: 31 Dec 2017
Ample parking lots of 114 in total
Tenure: Freehold
Total No. of units: 55

Units Mix:

3 bedroom - 1798 sqft (Ensuites) 12 units
4 bedroom - 2207 sqft (Ensuites) 26 units
4 bedroom - 2228 sqft (Ensuites) 13 units
3 bedroom PH - 3380 (Pte Pool) 1 unit
4 bedroom PH - 4133 sqft (Pte Pool) 2 units
4 bedroom PH - 4166 sqft (Pte Pool) 1 unit

The Gale

The Gale Launching Soon!

Developer: Tripartite Developers Pte Ltd

Project name: The Gale

Property Type: Condominium

Tenure: Freehold

Nos of unit: 329

Apartment Type: 1 bedroom, 2 bedrooms, 2+1 bedrooms, 3 bedrooms, 3+1 bedrooms and 4 bedrooms

The Gale is a freehold Condominium project by Tripartite Developers Pte Ltd. located at Flora Road which is near Changi Airport, eastern part of Singapore.

The Gale Condo is an ideal home for singles, newly-married couples, and families with young children and extended families who want to enjoy contemporary and stylish living at a very comfortable price level.

The Gale Condo will be a popular choice for up-graders and discerning buyers who yearn for good quality finishes and all the convenience within reach.

The Gale Condo is accessible via the nearby expressways – Pan Island Expressway (PIE), Tampines Expressway (TPE) and East Coast Parkway (ECP). It takes only 5 minutes or less to commute to the Changi Airport.

It takes about 5 minutes drive or bus ride from The Gale Condo to the nearest Simei or Tampines MRT station. The Gale Condo nearby amenities include Loyang Point, White Sands, Tampines Mall, Century Square, Tampines One, The Japanese School Tanah Merah & Laguna Golf and Country Club.

Tripartite Developers Pte Ltd has a series of developments in the area named in alphabetical order after fauna and flora: Azalea Park, Ballota Park, Carissa Park, Dahlia Park, Edelweiss Park, Ferraria Park and now The Gale.

For registration of interest for private preview or prebooking of units at The Gale, please sms or call 9763 9937 or email camiliang@gmail.com.