Wednesday, March 27, 2013

Brisk sales at Bartley Ridge on launch day

The Straits Times  |  Mar 23, 2013
200 units snapped up as developers offer 15% discount that offsets ABSD

The Bartley Ridge condominium being built near the upcoming new Bidadari township development proved popular with buyers on launch day yesterday.

The Straits Times understands that more than 200 units were sold by 4pm.

About 900 people turned up with their agents at 11am to enter a ballot for flats at the 99-year leasehold project between Serangoon and Paya Lebar.

Developers Hong Leong Holdings, City Developments and TID released 300 units under phase one.

The project will have 868 units in all.

They offered an early bird discount of 15 per cent, which will offset the additional buyer's stamp duty (ABSD).

The smallest one-bedder at 441 sq ft is priced from $580,000 while the largest dual-key four- bedroom unit costs $1.97 million for 2,120 sq ft.

Average per square foot (psf) prices for the different unit types range from $930 to $1,350.

First-time buyers Shien Ang and wife Sharon Mok, who both work in the banking industry, bought a four-bedroom unit at $1.6 million.

Mr Ang, 34, said: "The location is pretty central and there are good schools nearby.
"I'm hoping to send my son to St Andrew's, which is where I studied, and it'll be convenient for him to travel there."

The father of an 18-month-old son noted that the pricing was more affordable than other condos like Sennett Residences in Potong Pasir.

Ms Mok added: "Our incomes did not qualify us for an HDB flat or executive condo.

"With a bigger unit, our parents can move in with us in future," said the 35-year-old.

The couple have been living with Mr Ang's mother in a semi-detached house in Sembawang.

Fellow buyers Bob Tang, 41, and his wife Annie Ooi bought a one-bedder at $600,000.

This is their second investment property after buying a three-bedroom unit at Bartley Residences, another condo by the same developers across the road.

"I like this place because the pricing is reasonable for a property so close to the MRT," he said.

The couple paid about $1,350 psf for their unit.

They live in Marine Parade and are keen on investing in city- fringe properties.

Nearby Bidadari, the site of an old cemetery, will be developed into a residential area for 40,000 people with more than 12,000 high-rise homes.

The Bartley Ridge condo is a two-minute walk from Bartley MRT station on the Circle Line.

"The nearby Pan-Island Expressway, Central Expressway and Kallang-Paya Lebar Expressway also allow for easy accessibility to the city," said Ms Betsy Chng, head of sales and marketing at Hong Leong Holdings.

The expected temporary occupation permit date is 2018.

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C

Senior Sales Director
DTZ Property Network Pte Ltd (L3007960A)

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