Friday, January 20, 2012

Hot property: Mixed-use developments

Straits Times: Fri, Jan 20
AN ENTHUSIASTIC response by home buyers to the newly launched Watertown in Punggol Central has provided yet more evidence of a sure-fire winning formula for developers.

Even in subdued market conditions, buyers seem to flock to large mixed-use developments which include state-of- the-art shopping options.

If the residential and mall development is linked to an MRT station, as with Watertown, chances are that house hunters and investors will show up in droves.

At Watertown, buyers bucked the trend of recent slow sales elsewhere by snapping up more than 230 units in the first two days of preview at the 992-unit project - 55 per cent of which were small units under 700 sq ft.

Prices were also raised by between 3 per cent and 5 per cent from the average of about $1,080 psf when the project first previewed on Wednesday...

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Team Marshe
Martin Koh/ Sherry Tang
9383-3992/ 9844-4400

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