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The-Peak-at-Cairnhill-3-Artist-Impressions.jpg

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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Resale prices of Housing and Development Board (HDB) flats fell 1.6 per cent in the first three months of 2014 from the last quarter of 2013, while private home prices declined by 1.3 per cent, according to data released on Friday.

The 1.6 per cent drop in the HDB resale price index was larger than the advance estimate of a 1.5 per cent decline made earlier this month.

Singapore home prices have fallen in recent months, hurt by government efforts to cool the housing market.

HDB resale prices have dropped for three consecutive quarters, while private home prices are down for the second straight quarter.

URA said price declines were observed across all segments of the private residential property market.

Prices of non-landed properties in the Core Central Region dropped by 1.1 per cent, following the 2.1 per cent decrease in the previous quarter.

In Outside Central Region, prices declined by 0.1 per cent, following the 1.0 per cent fall in the previous quarter.

Prices in the rest of Central Region declined 3.3 per cent, after registering a marginal 0.4 per cent increase in the previous quarter.

Rentals of private residential properties decreased by 0.7 per cent in the first quarter, accelerating from the 0.5 per cent decline in the fourth quarter.

Credits: LushHomeMedia

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