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Subscribe to this list via RSS Blog posts tagged in condo launch

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The Peak @ Cairnhill II, a freehold 18-storey luxurious development by TG Development, received robust response during its launch in January, with 34 out of 60 units snapped up at an average price of S$2,700 psf.

This brings the development’s total take-up rate to over 55 percent.

Located within the prime Orchard Road district, The Peak @ Cairnhill II comprises 58 two-bedroom and two-bedroom penthouse units.

Of these, 28 units measure 829 sq ft and another 28 units measure 904 sq ft. Sizes of the two-bedroom penthouse units, on the other hand, stood at 1,884 sq ft and 1,864 sq ft respectively.

“The luxury marketing is indeed showing signs of improvement in 2017. We are heartened by the good take up rates of our development as reflected by the 34 units sold to date,” said TG Development managing director Ong Boon Chuan.

Data from the Urban Redevelopment Authority’s (URA) showed that similar high-end developments such as  Gramercy Park and OUE Twin Peaks registered good take-up rates last year, with 44 and 237 units sold respectively.

“This shows quality developments such as ours can still move amid the challenging property market in Singapore. Buoyed by market confidence, we felt this was opportune time to launch The Peak @ Cairnhill II and our results speak for themselves.”

Ong also attributed the good take-up rates to the company’s Enhanced Deferred Payment Scheme, saying that “most of the units were sold through this scheme”.

Buyers under the scheme, only paid a 20 percent option fee, and were also given a two year period to exercise the option-to-purchase. The buyers also signed a master tenancy agreement with the developer, which enables them to rent out their unit.

Currently, the developer is offering a 12 percent discount while absorbing the buyers’ property tax and two years of maintenance fees.

 

Credits: Propertyguru

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To entice early-bird buyers, the developer of West Coast condominium Parc Riviera is taking a novel one-tier pricing approach.

EL Development is offering units of the same type from the second to the 15th levels for the same price.

For example, a 603 sq ft two-bedroom flat will be priced at $725,000, regardless of whether it is on the second or 15th level - or anywhere in between.

Most developers charge higher prices for flats on higher floors because higher flats tend to be more popular for the views.

While flats will be priced the same between the second and 15th floors, flats higher up the two towers of 36 storeys at Parc Riviera will be offered at higher prices.

Mr Lim Yew Soon, EL Development's managing director, said he came up with the strategy as he wants early buyers to enjoy "maximum benefits".

Typical early bird promotions which might advertise units going for "$5xx,000" leave buyers guessing about the price and the level of the flat.

He said this approach was "a bit old-fashioned" and cliched. "We are telling people that the price starts from $550,000 for the one-bedroom (unit). We feel that $550,000 is an attractive price, even at the lower levels. But now that we have extended the price to 15 floors, it will be even more attractive," he added, saying this will get buyers to come in earlier.

The one-tier pricing scheme will be available only on Saturday at the condominium's soft launch.

Parc Riviera, located near Pandan Reservoir, comprises two 36-storey towers with a four-storey carpark. Unit sizes range from 463 sq ft for a one-bedroom unit to 1,711 sq ft for the largest four-bedder. EL Development said that about 64 per cent - are one- and two-bedroom apartments.

Mr Lim said the price difference between the 15th and the 16th floor will be "substantial", by about 5 per cent.

Property experts were optimistic about the move.

PropNex Realty chief executive Ismail Gafoor said that the strategy is likely to be effective.

"This is one of the first times when a developer has dangled this type of carrot. This strategy will likely get greater interest from consumers as they have an incentive to come early to make up their minds, to get discounted prices for higher floors. There are real savings for the buyer."

Mr Ong Kah Seng, director of R'ST Research, said that the main purpose of the strategy is to encourage buyers to "snap up" the higher floors.

Typically, units on the higher floors of a 20-storey condominium are more expensive by up to 15 per cent than those in the middle levels, he added.

While this might mean lower floor units could be unsold for a while, Mr Ong said that this is "immaterial" as "the project would already have achieved a fairly good sales rate, resulting in the project achieving good break-even sales or even marginal profits".

Credits: Straits Times New

 

 

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Posted by on in New Launches

Parc Riviera, Queens Peak aim to tap buyer interest amid good showing at other launches

Two new condominium projects - in West Coast and Queenstown - will open their showflats this weekend in the hope of capitalising on good sales at recent launches.

Prospective buyers can visit the showflat of EL Development's Parc Riviera in West Coast Vale over the next two weekends, ahead of its sales launch next month.

The other project vying for buyers is Queens Peak in Dundee Road, in Queenstown. It will open for preview on Saturday, with the sales launch scheduled for Nov 5, its developer Hao Yuan Investment said.

EL Development told The Straits Times the average selling price for units at the 752-unit Parc Riviera - a 99-year leasehold development - will be about $1,250 per sq ft.

"We want to price (the units) low at the start to attract early-bird buyers... If demand is there and the market improves, maybe we can consider raising the price slightly," noted Mr Lim Yew Soon, managing director at EL Development.

Parc Riviera comprises two 36-storey towers with a four-storey carpark. It is near the Pandan Reservoir and park connector. Key features include a panoramic deck with jacuzzis and pavilions on the rooftops of both blocks.

Unit sizes range from 463 sq ft for a one-bedroom unit to 1,711 sq ft for the largest four-bedder. EL Development said 480 of the 752 units - or about 64 per cent - are one- and two-bedroom apartments.

Mr Lim said: "Recent sales at The Alps Residences and Forest Woods are very encouraging... I think as long as the project is well designed and reasonably priced, there'll be takers."

Hao Yuan Investment's Queens Peak - also a 99-year leasehold project - appears to be better located, being near the Queenstown MRT station. It has 736 units, comprising one- to five-bedroom apartments and penthouses.

The sizes of the units at Queens Peak range from 431 sq ft for the one-bedroom unit to 2,002 sq ft for the five-bedder, and 4,768 sq ft for the largest penthouse.

The one- and two-bedroom apartments make up 62 per cent of the total units available there. The developer said premium units will have private lift lobbies, and all four penthouses will come with private pools, jacuzzis and private roof terraces.

"While market sentiment is buoyed by the recent recovery in sales, Queens Peak has very strong qualities... and as such, we have improved confidence at this moment," said Hao Yuan Investment, adding that selling prices have not been set yet.

The two upcoming showflat openings follow the positive response to new projects rolled out this month.

Forest Woods, a project by City Developments, Hong Leong Holdings and TID, in Lorong Lew Lian sold 65 per cent of its 519 units on its first launch weekend on Oct 8.

MCC Land's The Alps Residences in Tampines moved 280 of 626 units in a single day when it was put on the market on Oct 2.

Investor Eileen Gwee bought a two-bedder at The Alps Residences in Tampines for under $750,000, in the hope of leasing it out. "I am still confident about Tampines. It is a mature estate and a regional centre; an international school is nearby... so there should be rental potential," said Ms Gwee, a sales manager.

Newly launched projects such as Cairnhill Nine near Orchard Road, Gem Residences in Toa Payoh and Lake Grande in Jurong have also sold well.

"New projects have launched at reasonable price levels this year... In addition, several of the projects are relatively well located and have attractive characteristics, such as a retail podium and proximity to an MRT station," said Ms Alice Tan, Knight Frank Singapore research head.

Both Parc Riviera and Queens Peak are expected to get their temporary occupation permits at the end of 2020.

 

Credits: Straits Time Property News

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Chinese developer Hao Yuan Investment will hold a preview starting from this Saturday (22 October), to test market sentiment for the Queens Peak condominium at Dundee Road near Queenstown MRT station.

Property agencies SLP Realty and Knight Frank are marketing the 736-unit residential development.

The units will be perched from the eighth storey onwards, and comprise one- to five-bedroom units and penthouses measuring from 431 sq ft to 4,768 sq ft. The prices of the one- to five-bedders will range from $1,430 psf to $1,830 psf.

The four penthouses will come with high ceilings, a private pool, Jacuzzi and private roof terraces, said the developer.

There will also be a 570 sq ft shop unit on the ground floor which will cater to the needs of future residents.

Queens Peak is close to Queensway Shopping Centre, IKEA Alexandra, Alexandra Hospital and several schools.

Tan Zhiyong, Managing Director of MCC Land, the project manager of Queens Peak, said: “The Queenstown estate has greatly transformed in recent years. The nearby Dawson area has been modernised with award-winning public housing projects and the Queensway shopping enclave is now (full of) new malls.”

The 99-year leasehold project is expected to be completed in 2020.

 

Credits: Propertyguru

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Posted by on in New Launches

Singapore developers sold 769 private housing units in September including executive condominiums (ECs), down 3.7 percent from the 799 units sold in the previous month, revealed data published on Monday (17 October) by the Urban Redevelopment Authority (URA).

Year-on-year, sales rose about 18 percent compared to the 629 units sold in September 2015.

Analysts explained that developer sales remains slow due to the absence of new launches.

The best-selling private condominium last month was Lake Grande in Jurong West, which was launched in July. The 99-year leasehold project sold 29 units at a median price of $1,312 psf.

Two previously launched EC projects sold even more units, helping to push up the sales figure.Treasure Crest in Sengkang sold 38 units at a median price of $746 psf, followed by Sol Acres in Choa Chu Kang, which moved 36 units at a median price of $800 psf.

“Buyers continue to find value in the EC market as they will be able to take advantage of an expected long-drawn market recovery to capitalise on selling the EC units after fulfilling the Minimum Occupation Period,” said Desmond Sim, Head, CBRE Research in Singapore and South East Asia.

The most active region was the suburbs, which sold 297 units (74 percent). The balance came from the city fringe, which sold 144 units (20 percent), and the city centre with 68 units sold (six percent).

In the coming months, Ong Teck Hui, National Director of Research & Consultancy at JLL, expects to see more buying activity with the launch of The Alps Residences (626 units), Forest Woods (519 units), Queens Peak (736 units) and Parc Riviera (752 units).

“It has already been reported that The Alps Residences and Forest Woods found keen interest amongst buyers and achieved good sales take-up,” he said.

Analysts also predict a stronger sales performance this year compared to 2015. “It is estimated that 7,500 to 8,200 private residential units will be sold by developers in 2016, exceeding the 7,440 units sold last year,” said Ong.

Including ECs, the figure could surpass 12,000 units, a 20 percent increase from the 10,199 units sold in 2015, added Mohamed Ismail, CEO of PropNex Realty.

 

Credits: Propertyguru

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The Forest Woods condominium in Serangoon Central will be launched this Saturday (8 October), said home builder City Developments Limited (CDL), which is jointly developing the project with Hong Leong Holdings and TID.

The 519-unit project has already received a strong response since its preview began on 24 September. So far, more than 4,500 groups of visitors and families have visited the showflat, and over 500 cheques have been collected from buyers, said CDL.

Facilities include a three-level clubhouse with an indoor gym, a 150-metre adventure zone and a 75-metre pool.

Located within a mature estate in Lorong Lew Lian, the 150,711 sq ft site is close to Nex shopping mall, which is linked to the Serangoon MRT station and bus interchange.

The 99-year leasehold project is expected to obtain its TOP in 2021.

 

Credits: Propertyguru

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Newly-launched Gem Residences accounted for most of the new private homes sold last weekend, while other previously-launched projects recorded slow but steady sales.

Developers Gamuda, Evia Real Estate and Maxdin sold 315 units or 55 per cent of their Toa Payoh project at an average price of $1,426 per sq ft (psf) over the period. About 300 of these units were sold at its VIP sales booking day on Friday.

Under current market conditions, a sales rate of over 50 per cent of a project's units in the first month is considered very good, experts said.

When any project is launched, most of the sales are typically in the first two to three weeks, said Mr Joseph Tan, CBRE executive director of residential services.

"Post-cooling measures, the demand has been muted due to loan curbs and the Additional Buyer's Stamp Duty. But demand is also project-specific - if a project is in a good location, there will be demand."

Smaller units were sought after at Gem Residences. About 60 per cent of the 471 units that are smaller than 1,000 sq ft each were sold, while about 20 per cent of the other 107 units larger than 1,000 sq ft were sold.

"We have kept prices fair, and we believe this has played a huge part in drawing in buyers," Mr Chow Chee Wah, managing director of Gamuda Land, said of its maiden project in Singapore.

Gem Residences has also been notable for its various concepts, including tri-key units or trios. These are 980 sq ft and the developers are believed to have sold about five of 37 available trios at the project.

The project has a 24-hour concierge service able to fulfil "more challenging requests, including helping residents get a table at Michelin-starred restaurants overseas or that limited edition Hermes bag", the developers said. This is provided by local company Djenee and the London-headquartered Ten Group. It is on-demand and service fees are involved.

Separately, about 10 units were sold at the public launch of Stars of Kovan over the past weekend. Developer Cheung Kong Property had sold about 60 units at an average price of $1,408 psf at its VIP pre-sale the prior weekend.

A handful of sales were recorded as well at The Trilinq, Sturdee Residences, The Poiz Residences, Principal Garden, Botanique at Bartley and Symphony Suites.

Among executive condominiums, The Terrace, Sol Acres, The Amore and Bellewaters also registered sales.

"While the market may not have the horsepower to accelerate, there is still underlying torque, or a steady state of demand," said Mr Alan Cheong, Savills Singapore research head.

"The initial launch is where you see a spurt in sales, but this will peter out later as there are other factors impacting sales - expectations about the economy and job security, which may leave potential buyers more circumspect."

Credits: StProperty

 

 

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Luxury property developer SC Global Developments has launched an enhanced purchase plan to help move unsold units at its Hilltops condominium in Cairnhill.

For a 20 percent upfront payment, buyers will be given a two-year option to purchase the units at a fixed price. During the period, buyers will receive a return of 10 percent each year on the downpayment before completing their purchase.

For instance, a 20 percent downpayment of $600,000 on a $3 million unit would generate an annual repayment of $60,000 per year to the buyer. This would amount to $120,000 over two years, while saving the buyer two years of mortgage payments (up to $100,000).

Under this scheme, SC Global is marketing 30 units, which are leased out to tenants. The 10 percent yield will be secured by tenancies managed by the developer.

The said units comprise two- and three-bedroom condos of sizes ranging from 800 sq ft to 1,700 sq ft. Prices range from $2.5 million to $6 million.

Simon Cheong, Chairman and CEO of SC Global said: “We believe this plan is unique and was designed in response to feedback we have received from prospective clients who are keen on our property but who, for various reasons, have some constraints in timing and need the additional flexibility.”

The developer believes there is still genuine demand for Singapore homes, but some buyers face constraints in facilitating their purchase.

“The two-year option will give them the security to buy at a fixed price today, and allows them to generate a healthy return on their downpayment during the interim. It facilitates genuine home ownership by addressing some of these constraints,” said Cheong.

In a statement, SC Global said the scheme is expected to benefit home upgraders who need more time to sell their existing property and do not want to be burdened by two mortgages.

It also gives older Singaporeans who plan to downsize more time to dispose their property, and get a good return on their downpayment in the meantime.

Furthermore, it will help overseas Singaporeans who plan to return home in future and want to secure a property now, but find it difficult to manage a property and tenant while abroad.

Completed in 2011, Hilltops comprises 241 furnished units in three residential blocks.

Credits: Propertyguru

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Special Advertising Feature

Step inside these condominiums that offer luxurious interiors and quality finishings, and are close to good amenities, all at reasonable prices.

Singaporeans work hard to afford the things they desire, but they also need their money to work hard for them. Luckily for aspiring homeowners, there has never been a better time than now to own a luxurious home at a great price.

City Developments Limited (CDL), the established developer behind some of Singapore’s most iconic landmarks, has launched three condominiums that offer unparalleled value for money.

Coco Palms and Jewel @ Buangkok offer luxury at attractive prices, while The Venue Residences and Shoppes provides a premium experience that’s a cut above the rest.

Coco Palms

Being pampered at a tropical island resort is an everyday experience at Coco Palms. The development is inspired by some of the world’s best and most exclusive resorts, and contains six retail shops on the ground floor. Situated in Pasir Ris Grove, it is just a five-minute walk from Pasir Ris MRT station.

Sun-lovers will love the gorgeous landscaping featuring five pools (each with its own theme) and the three-storey clubhouse.

The invigorating Grand Lagoon glistens in the afternoon sun and brings to mind blissful tropical beach vacations. It forms the centrepiece of the condominium’s grounds, and selected units enjoy tranquil views of the crystal clear waters. A Cascading Waterlace, Lagoon Jets, Sunken Lounges and the beach-inspired Palm Island are just some of the features of the magnificent pool.

In the Zen-like Onsen Garden, residents can soak their cares away in the Salt Water Pool and Onsen-style Hot Bath, before attaining inner piece on the Meditation Deck or enjoying a brew at the Tea Pavilion.

A relaxing Hydrotherapy Pool awaits in the Hydro Garden, where residents can enjoy hydro foot and neck massages.

Sporty residents will appreciate the 50m Lap Pool and Aqua Gym in the Fitness Garden, which is also equipped with tennis courts, fitness and play stations and a jogging track.

The Sun Play Garden, which promises to be a hit with families and kids, features a Play Pool for the little ones to splash around in.

The development’s unrivalled proximity to Pasir MRT station connects you to the city on the East-West Line. The future Cross Island line will also provide connectivity from Changi to Jurong. Amenities like Downtown East, IKEA, Giant and Courts are a short drive away, as are Changi Business Park, Singapore EXPO and Changi International Airport. The White Sands shopping mall is located just a five-minute walk away.

While units have seen brisk sales, there is still a choice of three-, four- and five-bedroom units available, as well as dual penthouse units with five-plus bedrooms. Three-bedroom units are priced from $960,660.

Lovingly designed interiors are equipped with a suite of premium appliances, including a kitchen hood, hob and oven by Teka and kitchen sink by Franke. Each kitchen is equipped with a built-in Hyflux Ultrafiltration System, which dispenses purified drinking water through a Hyflux tap.

The expected date of vacation possession for Coco Palms is June 2019.

Jewel @ Buangkok

Location is everything, and the residents of Jewel @ Buangkok know that better than anything.

The condominium is situated right opposite Buangkok MRT station, which is a three-minute walk away. Buangkok MRT station connects to the Circle Line via Serangoon MRT station, transporting residents to the city centre in just minutes. Access to other parts of the island is also quick and easy, thanks to the CTE, KPE and TPE.

Buangkok MRT station is home to a range of must-have amenities, including a 24-hour supermarket and medical centre. Compass One, Rivervale Mall and Hougang Mall are situated close by, as is Nex megamall, with its hundreds of premium shops and upmarket brands.

The surrounding area offers so much more than just convenience. Residents can take long walks at Punggol Park, enjoy the peace of Punggol Waterway, commune with nature at Sengkang Floating Wetland or dine by the waterfront at Punggol Waterway.

A healthy lifestyle is also not out of reach, with the nearby Sengkang Sports and Recreational Centre, with its various water sports facilities, as well as the upcoming Sports Hub at Buangkok Crescent. Punggol Ranch offers horse riding, while Punggol Point Park provides the perfect setting for picnics.

Jewel @ Buangkok’s connectivity is rivalled only by the quality of the design and finishings residents will enjoy.

Most of the condominium’s units are being built with a north-south orientation in order to reduce the glare of the sun’s rays. Certain units are also equipped with sun-shading screens in order to boost privacy and comfort.

The dual-level waterscape provides relaxation on Sun Decks surrounded by the sound of lapping water, while cabanas and palm alcoves provide an interlude in between a swim in the family pool, with its aqua gym and Jacuzzi.

What’s more, six thematic outdoor cabins allow residents to experience the great outdoors right at home.

The Spa Cabin with its hydrotherapy pool and rain spa enables residents to pamper themselves after a long day at work, and the Adventurers’ Cabin will enthrall children with its flying fox and rock climbing wall. Pet owners and their furry friends will adore the Pet-Lovers’ Cabin, which contains a grooming station and play area.

Units are equipped with the finest fittings and finishes, as well as deluxe appliances from Electroluxe. The plush bathrooms enjoy premium sanitary wares and fittings from Kohler and Crestial.

While the vast majority of units have been sold, there is a limited number of three- and four-bedroom units still available starting from $1,380,000. Penthouse units with five-plus bedrooms are also available.

The T.O.P is expected very soon, making Jewel @ Buangkok one of the most hotly anticipated developments in the coming year.

The Venue Residences and Shoppes

Singapore has blossomed into one of the most glamorous cities in the world. At The Venue Residences and Shoppes, residents will get to truly experience what it means to live the good life.

This luxury development located at the junction of Upper Serangoon Road and Macpherson Road is highly exclusive, with only 266 residential units. Nearby schools include St. Andrews Junior and Secondary School, which is within walking distance.

Selected units enjoy panoramic views of the city or the surrounding landed estate, and purchasers can choose between a mix of low-rise and high-rise blocks.

It goes without saying that the interiors and finishes are of the highest quality, with ultra-luxe marble flooring in the living and dining areas. A suite of premium appliances in the kitchen, courtesy of Fisher & Paykel and Teka, makes preparing meals a pleasure, while fittings from Duravit and Hansgrohe lend a touch of class to the luxurious bathrooms.

No effort has been spared in the design of the facilities, which include origami-inspired poolside cabanas, a heated spa and a rain shower. A gym equipped with steam rooms and sky terraces on various levels of the residential blocks makes city living every bit as glamorous as it looks in the movies.

The development is just a three-minute walk away from Potong Pasir MRT station, and also enjoys easy access to the CTE, PIE, KPE and major roads.

What is more, it is also home to The Venue Shoppes, which offer a sophisticated curation of retail and dining options. Residents can stroll through lush walkways fronting the retail area before heading up to their homes.

At present, a good choice of two-, three- and four-bedroom units are available from $1,082,250, $1,506,750 and $1,741,500 respectively. Three-bedroom dual key units are available from $1,779,750, while penthouse units are from $2,475,000.

The T.O.P for The Venue Residences and Shoppes is expected in 2017, offering investors the promise of an immediate return on investment via rent, as well as immediate occupation.

Credits: Propertyguru

 

 

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Posted by on in New Launches

The VIP preview for Stars of Kovan, a new mixed-use development in District 19, will start this Saturday (7 May), said marketing agent CBRE.

Hong Kong-based Cheung Kong Property Holdings (CKPH) is developing the 99-year leasehold project, which comprises 390 apartments and five strata terrace units across four blocks.

The one- to three-bedroom apartments range in size from approximately 506 sq ft to 1,023 sq ft, while the strata terrace units are around 1,830 sq ft. CBRE is also marketing the 46 strata-titled commercial units on the ground floor, which have a British theme.

According to CBRE, the residential units will be priced between $1,550 psf to $1,600 psf. Specifically, the one-bedders will be priced from $800,000, while the two-bedders start from around $1.2 million. The three-bedders will cost about $1.5 million.

Located within a landed housing estate, Stars of Kovan is close to Kovan MRT station. Shopping malls such as Heartland Mall and NEX, as well as schools and business hubs, are also nearby.

Joseph Tan, CBRE’s Executive Director for Residential, said: “The market has a strong appetite for mixed developments. Quality projects near MRT stations within a mature estate are limited in supply and command a premium.”

The developer is also considering offering an early bird discount for the first batch of units being marketed for sale.

Credits: Propertyguru

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Two newly launched private residential projects reported brisk sales over the weekend, an indication that units within integrated developments remain popular despite the lacklustre housing market.

The Wisteria in Yishun sold more than 80 percent, or 116 of the 138 units released for sale.

Its developer Northern Resi initially launched 108 units on Saturday (12 March), priced from $1,030 psf to $1,050 psf on average. Subsequently, another 30 units were released due to keen interest for the smaller units, leading to more sales.

“Buyers are drawn to this project because of its affordability and its convenience of being above a lifestyle mall,” said Michael Leong, CEO of Keppel Land Retail Management, the project and marketing manager for The Wisteria.

The 99-year leasehold project features 216 condominium units spread across three nine-storey towers, built on top of a two-storey shopping mall. Prospective buyers can choose from one- to four-bedroom apartments, with unit sizes ranging from 441 sq ft to1,173 sq ft.

The Wisteria is expected to be completed by the end of 2018.

Meanwhile, CapitaLand’s 268-unit Cairnhill Nine development in the Orchard area has found buyers for 70 percent, or 134 of the 200 units launched on Saturday.

The 99-year leasehold condominium is part of an integrated development that includes a serviced residence called the Ascott Orchard Singapore.

The units sold include one, two, and four-bedroom units as well as penthouses, measuring between 591 sq ft and 3,864 sq ft. The one-bedroom+guest units have been the most well-received to date, with 80 percent of the 90 apartments sold.

Around 50 percent of the project’s buyers are Singaporeans, while the rest are from Indonesia, Malaysia and China.

Commenting, a spokesman from CapitaLand said: “We are pleased with the strong response to the VIP preview and official launch, and will be stepping up our marketing efforts by having roadshows in cities such as Jakarta, Surabaya, Solo, Shanghai and Hong Kong.”

Credits: Propertyguru

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Sales crashed by 66.6%.

According to Knight Frank, private investment sales plummeted to $1.1 billion, a significant decline of 66.6 per cent quarter on quarter (q-o-q). The Real Estate Investment Trusts (REIT) market was especially quiet in 1Q 2014 with no flotation and acquisition activities in the local investment sales market.

Investment sales in the residential sector finally regained its pole position by constituting 55.4 per cent of the total investment sales volume in 1Q 2014. This is followed by the commercial & hotel sector and the industrial sector, which comprised 39.2 per cent and 5.4 per cent of total investment sales value respectively.

Credits: Singapore Business Review

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