Singapore Back to Real Estate News Homepage to RSS for this country

SG Property News

SG A strong weekend for new project sales

Property Here - Wednesday, June 05, 2013

Share to:

By Shabnam Muzammil:

Newly launched residential and commercial property developments recorded strong interest from buyers over the weekend, helped by good location and prices, reported The Straits Times.

“Buyers are interested to look at residential projects that have good location attributes, such as close proximity to transport nodes like MRT stations and good schools. Projects are likely to see healthy performance, provided they are priced reasonably,” noted Alice Tan, Head of Research and Consultancy at Knight Frank.

KAP Residences (pictured), a freehold mixed development by a consortium led by Oxley Holdings saw buyers for 92 percent of the units released.

135 of the 142 homes were sold at an average price of S$1,705 psf, while 93 of the 107 commercial units were taken up at an average of S$5,446 psf.

Liv on Sophia sold 15 residences with some bulk sales, noted Teo Hong Lim, Chief Executive of Roxy-Pacific Holdings.

Launched two weeks ago, the project has already sold 40 of its 64 two-bedroom, dual-key units ranging from 527 to 710 sq ft and are popular with investors looking for two streams of rental income.

Singaporeans accounted for 53 percent of buyers over the weekend while permanent residents (PRs) and foreigners comprised 42 percent and 5 percent respectively, Teo said.

Meanwhile, property seekers can expect more housing options with the launch of the 512-unit Ecopolitan executive condominium (EC) in Punggol Way by Qingjian Realty, and the opening for E-Application of another EC by Sing Holdings later this month.



Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@allproperty.com.sg