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

SG Property News

SG CapitaLand luring buyers with more affordable prices

Property Here - Wednesday, September 25, 2013

Share to:

Property giant CapitaLand is set to launch its much-anticipated Sky Vue condominium this Saturday (28 September) and expects to see healthy interest from buyers. 

The 99-year leasehold project in Bishan Central comprises 694 units of one- to three-bedrooms and penthouses. 

Average prices are expected to range between S$1,380 psf and S$1,550 psf. 

Wong Heang Fine (pictured), Chief Executive Officer (Residential), at CapitaLand, said: “Sky Vue will cater to young families looking for more affordable homes. There is no point pricing it at a level where people cannot afford to buy, so we are being reactive to the market.” 

Despite recent curbs on housing loans, including the introduction of the Total Debt Servicing Ratio (TDSR) framework in June, the response during the preview period which started on 4 September has been “pretty good”, Wong noted. 

“A major factor is the project’s location on the city fringe. It is also close to Bishan MRT and bus interchange, Junction 8 shopping mall and good schools.” 

Sky Vue is expected to receive its TOP in 2017.  

Meanwhile, CapitaLand’s neighbouring Sky Habitat has sold 173 units at an average price of S$1,589 psf. The 509-unit condo was launched in April last year and is designed by star architect Moshe Safdie.  

Going forward, Wong remains optimistic about the property market in spite of the decline in new private home sales. 

“There is no safer place to buy property than in Singapore. Buyers need time to adjust to the new measures and once that happens, sales will be buoyant.”

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg