The Straits Times | MARCH 06, 2013
Both seen fetching average prices of around $1,400 psf
At least two major condominium projects will be released for sale this week - IOI Group's The Trilinq in Clementi and Tuan Sing's Sennett Residence next to Potong Pasir MRT Station.
And with more launches expected later this month - including Urban Vista next to Tanah Merah MRT Station, Bartley Ridge and Kingsford.Hillview Peak - developers can be expected to post strong housing sales for March, analysts say.
All these projects are being developed on 99-year leasehold sites sold by the state.
IOI will offer around 200-250 of The Trilinq's 755 units for the initial phase; it is looking at an early-bird average price of about $1,400-1,500 per square foot (after discounts). The VVIP preview is expected to begin today, with sales opening to others who have registered interest on Thursday, followed by a public launch on Friday.
The Trilinq, about 400 metres from The Clementi Mall and Clementi MRT Station, will comprise two 36-storey towers with an attic, and a 33-storey block.
An interesting architectural feature of The Trilinq is interlocking unit-types to allow selected two, three and four-bedroom units to enjoy a generous double-volume, six-metre floor-to-ceiling height in the living room. And for 26 four-bedroom apartments, the master bedroom will be double volume.
The project's 112 one-bedders will range from 538 sq ft to 603 sq ft. It will have 192 two-bedders, 346 three-bedders, 94 four-bedders and 11 penthouses (2,573 sq ft to 4,456 sq ft). The Trilinq will have a tennis court and three swimming pools.
Tuan Sing is expected to begin sales at the Sennett Residence on Saturday, and entry into the showflat will be through balloting. The average price is likely to be around $1,400 psf. Absolute prices start from the low $700,000 region for a one-bedroom unit of 485 sq ft on the second floor.
Sennett Residence will have 332 apartments and three shop units housed in four blocks linked by a sky terrace. A 50-metre infinity pool and a sky-gym will be built on top of the sky terrace. Unit sizes will range from 485 sq ft to 4,252 sq ft - comprising one, two, three and four-bedroom apartments and duplex penthouses. The priciest penthouse could be around $5-6 million, BT understands.
Urban Vista in Tanah Merah could go on the market as early as next week, if developers World Class Land and Fragrance Group secure all regulatory approvals. Market watchers expect the 582-unit condo to be priced around $1,300-1,400 psf on average.
Expectations are also running high that Hong Leong Group could roll out Bartley Ridge - an 868-unit condo near Bartley MRT Station - by month-end. Analysts reckon that the average price could be around $1,300 psf.
Also targeted for release around month-end is a condo of about 500 units named Kingsford. Hillview Peak, next to The Hillier.
Developers sold 2,013 private homes (excluding executive condos) in January.
"We had a quiet February partly due to Chinese New Year festivities, which gave time to both developers and potential buyers to reflect on the January cooling measures and provided buyers with an opportunity to select from a wide range of upcoming launches, rather than rushing to make their purchase," said Knight Frank chairman Tan Tiong Cheng. "Definitely, developers will be more sensible on pricing . . . Because of the lull period in February, we can expect some pent-up demand to manifest in March. Whether the momentum will last, no one knows."
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