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SG Good response for Tembusu project

Property Here - Wednesday, August 14, 2013

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The Tembusu condominium project (pictured) in Kovan has received strong interest from buyers, with over 200 units sold as of yesterday, media reports said.

Developed by Wing Tai Holdings, the 337-unit development commenced sales yesterday, two weeks after the showflat was opened for VVIPs and those who had pre-registered earlier. The units are likely selling for S$1,400 to S$1,500 psf on average, sources said.

The Tembusu is reportedly the first residential project to receive good response following the implementation of the Total Debt Servicing Ratio (TDSR) framework on 29 June.

“The response was encouraging; we believe it is due to the comfortable sizing of the freehold apartments in the established Kovan area. Most importantly, home buyers appreciate the quality design and finishes,” noted Len Siew Lian, Wing Tai’s General Manager for property.

Both the developer and marketing agent Huttons are yet to confirm actual sales figures.



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