Sea Horizon, the latest executive condominium (EC) in the market sold about 60 percent of its units on the opening weekend of sales bookings.
According to its developers Hao Yuan Investment and Sustained Land, buyers started streaming into the showflat in Pasir Ris at 6pm on Saturday to select their apartments.
The average selling price for the 495-unit project was slightly above S$800 psf.
With the introduction of the Total Debt Servicing Ratio (TDSR) framework in June, it was observed that most walk-in buyers did not commit to purchase immediately as they might have to get their credit status assessed by the bank, and subsequently determine the allowable loan amount.
Meanwhile, a spokesman of Sea Horizon said: “We are pleased with the enthusiastic response at the opening weekend of Sea Horizon. We believe that the upland coastal location is a big draw for many. The architectural design further maximises the enjoyment of sea views with French balconies, full-height windows and common facilities such as the Sky Gym and the Sky Terrace.”
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email firstname.lastname@example.org