Tuesday, April 2, 2013

Four major new condos launched in March

Singapore Business Review
RESIDENTIAL PROPERTY | Staff Reporter, Singapore
Published: 02 April 2013

Four major new condos launched in March

Altogether, takeup exceeded 850 units just in 1H of March.

Data from the Urban Redevelopment Authority (URA) on 15 March showed that new private home sales in February, excluding Executive Condominiums (ECs), fell to 708 units, down 65% from the 2,016 units sold in January. This was the lowest volume since December 2011 but Barclays said that recovery is expected in March.

"We expect some recovery in launch and sales figures in March as several major projects have already been launched and are making sales progress, with reported takeup already exceeding 850 units among the four major projects launched," said Barclays analyst Tricia Song.

Here are the major projects:

Over the 15-17 March weekend, more than 500 units of the 600 released at D'Nest, a project by City Developments (CIT SP, N/R), Hong Leong Holdings, and Hong Realty, have been snapped up at an average price of S$920/sqft. Take-up rate was good across the range of apartment sizes and unit types, said CDL. The 99-year leasehold development, which comprises 912 units, is located at Pasir Ris Grove and is within walking distance of Pasir Ris MRT station.

• Another project, 582-unit Urban Vista in Tanah Merah sold 250 out of the 310 units launched at its preview weekend at an ASP of $1,350/sqft.

• Sennett Residence, at Potong Pasir MRT station, has sold 70% of its 332 units as of 12 Mar within a week of its launch at an average price of S$1,450/sqft. 755-unit

• Trilinq at Clementi, also launched at same time as Sennett Residence, reportedly sold 85 units at average price of S$1,400/sqft on its day of launch.

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

Senior Sales Director
DTZ Property Network Pte Ltd (L3007960A)
Email: marshe_inc@yahoo.com.sg

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