With buyers remaining cautious over the government’s recent home loan curbs, sales were generally conservative at the weekend preview of Vue 8 Residence (pictured) in Pasir Ris, according to media reports.
Only 50-plus units out of about 100 released were reportedly sold at the 99-year leasehold condominium project. Sales started on Friday for those who registered and was extended to Saturday for the public.
Jointly developed by Capital Development and ZACD Investments, the project comprises 463 units within a 17-storey tower and is located near Pasir Ris Beach. Apartments range from one- to five-bedroom types, penthouses, and some units with sky terraces.
Units were selling for S$980 to S$1,050 psf on average, depending on housing types and whether it offers a seafront view, noted a spokesman for marketing agent SLP International. Absolute prices started from S$540,000 for a 474 sq ft one-bedder.
This pricing was “within expectation” as compared to the around S$900 psf average price for Stratum launched in May, said Christine Li, Research Head at OrangeTee. Although the five-storey project is further away from Pasir Ris Beach, it sold 190 units in its first week.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email email@example.com