Aug 04, 2009
The Straits Times
SINGAPORE may still be mired in recession, but tell that to the home hunters who are flocking to the latest launches.
In the east, a new 297-unit condominium development on the doorstep of Tanah Merah MRT station completely sold out in the three days that followed its preview last Thursday.
Units at Optima went for an average price of around $810 per sq ft, or from $470,000 to $2.06million per unit.Demand remained strong even after developer TID - a joint venture between Hong Leong Group and Mitsui Fudosan - raised prices by 5per cent, from $790 psf on Thursday to $830 psf by Friday.
Keen buyers were already seen queueing days before the launch of the 99-year leasehold condominium.And TID had to conduct a ballot of 120 units for 300 buyers just before midnight on Thursday to prevent them having to camp out overnight for the public launch the next day.
Buyers were a good mix of HDB upgraders and investors, said the Hong Leong Group spokesman.
City Developments has now put on fast track the launch of its 396-unit project at the former Hong Leong Garden condominium site. Over in Ang Mo Kio, another new suburban launch has attracted relatively strong demand, though some price resistance may have settled in over the weekend.
The 329-unit Centro Residences has sold 93 out of the 144 units that were released for sale last week.Most of the units sold were two- to three-bedders. The smallest two-bedders have been sold, leaving those from 872sqft and above, and priced from $1million.
Far East Organization said yesterday that 50per cent of the buyers are HDB upgraders from nearby towns, while the rest are residents from private estates.Prices at the 99-year leasehold condominium started from $1,100 psf - a price level more typical of city-fringe or prime projects, property watchers observed.
'Such prices can get you a freehold condo in Upper Bukit Timah,' said Mr Nicholas Mak, a former property consultant. 'Buyers should be a bit more rational. Demand at such price levels shows that some buyers may be getting carried away by the current euphoria.
'If they are hoping for capital appreciation, they must ask themselves who is going to buy from them at an even higher price when a three-bedroom unit in a suburban project is usually priced less than $1,000 psf,' he added.
Elsewhere, some other fairly new launches continued to attract buyers, but at a much slower pace.
Waterfront Key in Bedok Reservoir sold another eight units at an average price of $735 psf, bringing total sales to 193 out of 278 released units.At the 329-unit The Gale in Flora Road, sales remained around the 90per cent level cited late last week.
Thursday, August 6, 2009
Tuesday, June 30, 2009
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.
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.
Sunday, June 28, 2009
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
Subscribe to:
Posts (Atom)