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Subscribe to this list via RSS Blog posts tagged in Condo Sales

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Chinese developer Qingjian Realty conducted a re-balloting exercise for 10 units at its fully-sold Bellewaters executive condominium (EC) in Sengkang last Saturday (8 April).

The 651-unit project comprises three- to five-bedroom units with sizes ranging from 926 sq ft to 1,528 sq ft. It is expected to be completed by this quarter.

PropertyGuru understands that a mix of unit types were resold and demand was particularly strong. “The ballot units were more than four times oversubscribed with a total of 43 applications,” said Yen Chong, Deputy General Manager at Qingjian Realty.

“These units became available when the original buyers did not meet the eligibility requirements (of the Housing and Development Board) for an EC purchase,” she noted, without going into specific details.

One industry expert who chose to remain anonymous, said that in such cases, a change in family nucleus is the main contributing factor. This could be due to the breakup of an engagement, divorce or death of a family member, with the first two scenarios being the most common reasons. Thus, they must pay a five percent cancellation fee, down from 20 percent in 2013.

Calling it a common issue faced by EC developers, the source added: “The developer will have to actively re-market such units to avoid incurring the Additional Buyer’s Stamp Duty (ABSD).”

Under the ABSD rules introduced in December 2011, developers must build and sell all units at their projects within five years of acquiring the sites. Failure to do so will incur a 10 percent levy on the land price, plus a five percent interest. Subsequently, the levy was increased to 15 percent for sites purchased from January 2013 onwards.

Alvin Tan, Executive Director of Local Projects at PropNex International, said that in some instances, the affected units could be resold at higher prices, but this depends on which stage the units were released for sale.

“If it is just after launch, it could be sold at launch price. If sales are good, the price would possibly be higher. Only when the project is nearing completion are developers maybe under pressure to offload the units, which could possibly see some discounts coming in,” he said.

Qingjian would not disclose pricing details for the re-balloting exercise, but URA Realis data shows that the total median transacted price of units at the 99-year leasehold project is $795 psf

Credits: Propertyguru.

 

 

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Pollen & Bleu, an eight-storey condominium in District 10, has attracted keen interest since its relaunch in February, with 83 percent of the units released sold, revealed CBRE, which is jointly marketing the project with Huttons and Savills.

In fact, buyers have taken up all the one+study and two-bedroom units, as well as three penthouses at the 99-year leasehold project.

With this, new stacks of units facing the Singapore Botanic Gardens will be released for sale this weekend by developer Singapore Land (SingLand) at an average price of $1,800 psf. Sizes of the one- to four-bedroom units range from 549 sq ft to 1,593 sq ft.

Located at Farrer Drive, the 106-unit Pollen & Bleu is a short drive away from Orchard Road, Holland Village and Dempsey Hill. It is also close to several established schools including Nanyang Primary School, Raffles Girls’ Primary School, Hwa Chong Institution, Nanyang Girls’ High School and ACS International.

A deferred payment scheme is being offered for the project, in which the remaining 80 percent of the purchase price will be deferred 24 months from the day the buyer exercises the option to buy the unit.

“It is a deliberate strategy to launch the project only after its completion. We are confident in the product and the value which we have created for the buyers,” said Peter Wee, Assistant General Manager for Business Development and Residential Marketing at SingLand Development.

“It is very rare to find a development like Pollen & Bleu surrounded by lush foliage of the Botanic Gardens and landscape in the heart of District 10. Buyers are seeing the true value of Pollen & Bleu and the strong response seen in the last few weeks demonstrated that.”

 

Credits: Propertyguru

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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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Posted by on in New Launches

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Property developers in Singapore sold 860 units in November 2016, down 31.4 percent from the 1,253 units in the previous month, reported Channel NewsAsia, citing data from the Urban Redevelopment Authority (URA).

Including executive condominiums (ECs), developers sold 1,110 private homes, down from the 1,542 units sold in October.

The number of units launched by developers also fell from 1,467 units in October to 1,363 units last month.

Most of the sales took place at the Parc Riviera project in West Coast Vale, which sold 128 of the 200 units launched, and at Queens Peak in Queenstown, which sold 271 of its 736 units.

Credits: Propertyguru

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Posted by on in New Launches

Two new private condominiums were launched last month – Parc Riviera and Queens Peak. Both projects sold a total of 399 units, but sales were also recorded at previously launched developments. The top-selling condos in November were:

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1) Queens Peak (RCR)

Developer: Hao Yuan Investment
Tenure: 99-year leasehold
Location: Dundee Road (D3)
Nearest MRT station: Queenstown MRT
Median price: $1,628 psf
Total no. of units: 736
Sales update: 271 units sold in November

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2) Parc Riviera (OCR)

Developer: EL Development
Tenure: 99-year leasehold
Location: West Coast Vale (D5)
Nearest MRT station: Clementi MRT
Median price: $1,189 psf
Total no. of units: 752
Sales update: 128 units sold in November

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3) The Alps Residences (OCR)

Developer: MCC Land
Tenure: 99-year leasehold
Location: Tampines Avenue 10 (D18)
Nearest MRT station: Tampines MRT
Median price: $1,038 psf
Total no. of units: 626
Sales update: 32 units sold in November

4) The Trilinq (OCR)

Developer: IOI Properties
Tenure: 99-year leasehold
Location: Clementi Avenue 6 (D5)
Nearest MRT station: Clementi MRT
Median price: $1,430 psf
Total no. of units: 755
Sales update: 25 units sold in November

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5) Symphony Suites (OCR)

Developer: EL Development
Tenure: 99-year leasehold
Location: Yishun Avenue 9 (D27)
Nearest MRT station: Yishun MRT
Median price: $1,079 psf
Total no. of units: 660
Sales update: 23 units sold in November

 

Credits: Propertyguru

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Property developer CapitaLand posted a total net profit of $247.5 million in the third quarter of 2016, up 28.4 percent from $192.7 million in the previous year, on the back of better operating performance.

Group revenue during the period also jumped 27.7 percent to $1.374 billion.

In an SGX filing, the group attributed the increase to higher contributions from CapitaLand’s residential business in China and Singapore, shopping malls in Malaysia and China, its commercial portfolio in Singapore, and newly acquired serviced residences.

The residential projects which contributed to higher revenue in Q3 included The Nassim and Cairnhill Nine in Singapore, New Horizon in Shanghai, Vermont Hills in Beijing and Riverfront in Hangzhou.

Earnings before interest and tax (EBIT) also rose 7.7 percent year-on-year to $494.4 million in Q3, with Singapore and China remaining as key contributors.

Looking ahead, Lim said the group will continue to grow its assets under management through capital recycling, portfolio optimisation, fund management and management contracts.

 

Credits: Propertyguru

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Queens Peak, Hao Yuan Investment’s 736-unit condominium project at Dundee Road, has been warmly received by buyers, with 242 units sold during its launch on Saturday (5 November).

One- and two-bedroom units accounted for 90 percent of all the units sold, while the project’s average price stands at $1,632 psf. The lowest transacted price was $1,406 psf.

The developer attributed the encouraging sales to the project’s good connectivity to the nearby Queenstown MRT station, as well as the fact that all units are at least eight storeys above ground.

“We have received feedback from buyers that Queens Peak is an attractively priced city fringe project made affordable for mass condominium buyers,” said Tan Zhiyong, Managing Director of MCC Land, the project manager for Queens Peak.

Meanwhile, the 752-unit Parc Riviera at West Coast Vale sold more than 100 units on Saturday, offering a “one-tier pricing scheme” for units found on the lowest floor to the 15th floor, reported The Business Times.

With the average price at $1,150 psf, more than 95 percent of units sold are those that come under the one-tier pricing scheme. Around 80 percent of buyers opted for the one- or two-bedroom units.

The scheme, which was originally planned to be offered only on Saturday, did not generate further interest when it was extended to Sunday, with only a few more units sold.

While location may have played a role in the project’s sales performance, EL Development Managing Director Lim Yew Soon noted that the manner by which smaller units were distributed in the project may have also been a factor.

The smaller units at Queens Peak are concentrated on the lower floors to keep the quantums low for investors, while Parc Riviera has similar unit types from the lowest to the highest floors. The developer kept the unit-type composition consistent on each floor due to the use of prefabricated prefinished volumetric construction (PPVC).

Lim explained that it would be challenging for a project using PPVC to have different unit types stacked on top of another as this would require transfer beams and columns to be erected on each floor.

He also revealed that the project will revert to its original price list.

“We took quite a steep discount for the units on the higher floors so we can’t keep doing it all the time,” he said. “We are not planning for further discounts now. Based on the original pricing, it’s still attractive.”

 

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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Posted by on in New Launches

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Forest Woods, a condominium project by City Developments Limited (CDL), Hong Leong Holdings and TID, received a strong response during its launch over the weekend, with 337 of the 519 units (65 percent) sold as at 5pm on Sunday, 9 October.

CDL Group General Manager Chia Ngiang Hong attributed the keen interest to several factors, including its strategic location and competitive pricing.

All unit types saw a good take-up rate, with units sold achieving an average price of $1,400 psf. In fact, all the two-bedroom and one-bedroom with study units were snapped up, while one of the three penthouses was sold at $2.85 million.

Singaporeans accounted for 88 percent of buyers, while the remaining 12 percent comprised permanent residents and foreigners from Indonesia, China, Switzerland, Malaysia, Vietnam and Taiwan.

Unit prices start from $688,000 for a one-bedroom unit to $1.65 million for a four-bedder.

The project in District 19 comprises a range of facilities including a three-level clubhouse, a 75-metre pool and a 150-metre adventure zone.

Located at the junction of Upper Paya Lebar Road and Upper Serangoon Road, Forest Woods is near the Serangoon MRT station and bus interchange, as well as Nex shopping mall.

“Many units bought were for owner-occupation as they like the location and the project’s strong attributes and offerings. Due to the limited supply of new projects in this prime location, investors also bought Forest Woods in anticipation of good rental demand,” added Chia.

Credits: Propertyguru

 

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The Alps Residences, a 626-unit condominium at Tampines Street 86, will open for preview this Saturday (24 September), said Chinese developer MCC Land. Property agencies ERA and Huttons are marketing the project.

MCC Land paid $227.78 million ($482.59 psf per plot ratio) for the hotly contested site in 2015, which attracted a total of 12 bids.

The 168,567 sq ft site will contain nine residential towers, designed with a Swiss Alps theme.

“We specially engaged a Switzerland-based architectural firm to create a tropical home with Alpine inflections,” said Tan Zhiyong, Managing Director of MCC Land.

These include a clubhouse with a gabled roof similar to those seen in Swiss chalets, and balconies with snowcap design motifs.

There are one- to four-bedroom apartments and penthouses available, with sizes ranging between 441 sq ft and 2,486 sq ft. Around 66 percent of the units are two- and three-bedrooms measuring from 689 sq ft to 1,087 sq ft.

PropertyGuru understands that prices haven’t been finalised yet, and will depend on the response seen at the preview. However, prices are expected to start in the $400,000 range for a one-bedder, which translates to just over $900 psf.

There will also be two shops of approximately 680 sq ft each, which will cater to the needs of residents and those living nearby. In addition, 104 bicycle parking lots will be installed for residents to encourage and facilitate cycling.

The Alps Residences is close to Tampines MRT station, which will become an interchange for the existing East-West Line and the upcoming Downtown Line Stage 3 in 2017. Other nearby amenities include shopping malls, schools and a hospital.

The 99-year leasehold project is expected to obtain its TOP in 2020.

Credits: Propertyguru

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Posted by on in New Launches

Property developers sold 805 housing units in August, including executive condominiums (ECs). The five top-selling projects, all located in the Outside Central Region (OCR), are:

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1) Treasure Crest EC (OCR)
Developer: Sim Lian Group
Tenure: 99-year leasehold
Location: Anchorvale Crescent (D19)
Nearest MRT station: Sengkang MRT
Median price: $745 psf
Total no. of units: 504
Sales update: 56 units sold in August

2) Sol Acres EC (OCR)
Developer: MCL Land
Tenure: 99-year leasehold
Location: Choa Chu Kang Grove (D23)
Nearest MRT station: Bukit Panjang MRT
Median price: $781 psf
Total no. of units: 1,327
Sales update: 46 units sold in August

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3) Bellewoods EC (OCR)
Developer: Qingjian Realty
Tenure: 99-year leasehold
Location: Woodlands Avenue 5 and 6 (D25)
Nearest MRT station: Admiralty MRT
Median price: $769 psf
Total no. of units: 561
Sales update: 37 units sold in August

4) Lake Grande (OCR)
Developer: MCL Land
Tenure: 99-year leasehold
Location: Jurong West Street 41 (D22)
Nearest MRT station: Lakeside MRT
Median price: $1,317 psf
Total no. of units: 710
Sales update: 35 units sold in August

5) The Trilinq (OCR)
Developer: IOI Properties
Tenure: 99-year leasehold
Location: Clementi Avenue 6 (D5)
Nearest MRT station: Clementi MRT
Median price: $1,413 psf
Total no. of units: 755
Sales update: 30 units sold in August

Credits: Propertyguru

 

 

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Posted by on in New Launches

As part of our special report on TOP projects, we’ve profiled a number of new developments across Singapore that are set to be completed soon, and which have available units for sale. Click the map to see the larger version. Happy house hunting!

Credits: Proeprtyguru

 

Check Out –

1.       Bellewoods EC Woodlands Homepage

2.       Bellewaters EC Sengkang Homepage

3.       Leedon Residences Farrer Road Homepage

 

4.       Ecopolitan EC Punggol Homepage

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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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Property developers sold 536 private residential units, excluding executive condominiums (ECs) last month, down 50 percent from the 1,065 units sold in May, revealed latest data from the Urban Redevelopment Authority (URA). Including ECs, there were 768 units sold.

There were three reasons for the drop in sales, namely selective buying sentiments, seasonal effects of the June school holidays and no new major launches, said PropNex Realty.

Only 234 new private units were launched in June, down 80 percent from May. Meanwhile, no new ECs were launched in the month.

Mohamed Ismail, CEO of PropNex, said: “The upcoming launches of Lake Grande and Gramercy Park will help to boost volume as developers look to step up their launch activities before the Hungry Ghost Festival hits in August.”

Meanwhile, the five top-selling projects were Bellewaters EC, Kingsford Waterbay, The Glades, Kingsford Hillview Peak and The Vales EC.

 

1. Bellewaters EC (OCR)
Developer: Qingjian Realty
Tenure: 99-year leasehold
Location: Anchorvale Crescent (D19)
Nearest MRT station: Sengkang MRT
Median price: $804 psf
Total no. of units: 651
Sales update: 43 units sold in June

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2. This email address is being protected from spambots. You need JavaScript enabled to view it." target="_blank">Kingsford Waterbay (OCR)
Developer: Kingsford Development
Tenure: 99-year leasehold
Location: Upper Serangoon View (D19)
Nearest MRT station: Hougang MRT
Median price: $1,185 psf
Total no. of units: 1,165
Sales update: 34 units sold in June

 

3. The Glades (OCR)
Developer: Keppel Land and China Vanke
Tenure: 99-year leasehold
Location: Bedok Rise (D16)
Nearest MRT station: Tanah Merah MRT
Median price: $1,402 psf
Total no. of units: 726
Sales update: 32 units sold in June

 

4. Kingsford Hillview Peak (OCR)
Developer: Kingsford Development
Tenure: 99-year leasehold
Location: Hillview Avenue
Nearest MRT station: Hillview MRT
Median price: $1,315 psf
Total no. of units: 512
Sales update: 31 units sold in June

 

5. The Vales EC (OCR)
Developer: SingHaiyi Group and Kay Lim Investment
Tenure: 99-year leasehold
Location: Sengkang (D19)
Nearest MRT station: Sengkang MRT
Median price: $779 psf
Total no. of units: 517
Sales update: 28 units sold in June

 

Credits: Propertyguru

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