Category Archives: General

Enticing showflats attract more buyers, say experts

Developers are aware that aside from a good location, an attractive showflat can also lure buyers into acquiring a property.

“Generally, the showflat is the primary marketing tool for developers to promote their new condominium,” said Elson Poo, General Manager of Marketing and Sales at Frasers Centrepoint Homes.

Albert Foo, General Manager of Marketing at Keppel Land, said: “Showflats are modelled closely after actual units.”

“The interior design styling, fittings and finishes also mirror the actual product. There are clear indications where modifications have been made to the showflat or when a particular product is not included in the purchase,” added Foo.

According to Joyce Sng, Assistant General Manager of product development at UOL Group, building showflats within the development site provides buyers with a clearer picture of the actual property as well as attributes of its surroundings.

Developers usually hire interior designers to carry out their design plans for the showflat and one or more firms can be involved depending on the number of showflats needed.

Sng said that in order to meet the needs and aspirations of customers, “we select interior designers based on the target customer segment”.

“To nail the interior design that exudes the lifestyle we envisage, communication with the designer is key. Once the interior designer understands our product positioning, we usually give him the free hand to unleash his creativity,” she added.

Developers and interior designers do no usually disclose the cost of showflats. As a general guide a two-bedder costs around S$90,000 to S$120,000 while a four-bedroom apartment showflat can range from S$120,000 to over S$400,000.

For some projects, developers have even created an outdoor setting to attract potential buyers, just like Frasers Centrepoint Homes’ Soleil@Sinaran showflat which comes with a spa pavilion complete with aromatherapy oils and massage beds to make it more realistic.

Source : PropertyGuru – 27 Jul 2012

Aussie firm linked to world’s richest woman buys Sentosa condos

A company linked to Australian mining tycoon Gina Rinehart’s Hancock Prospecting is acquiring two units at Seven Palms, a Sentosa Cove condo project by SC Global Developments for S$57.2 million, according to sources who spoke to The Business Times.

Rinehart is considered the world’s richest woman with a fortune estimated at around A$30 billion (S$39 billion).

Located near Tanjong Beach, Seven Palms is a four-storey residential development that features just 41 units. Nearing completion, it is designed by award-winning Kerry Hill architects.

The firm linked to Hancock Prospecting is said to be paying around S$23.3 million for a third floor unit and nearly S$33.9 million for a unit on the fourth floor. However, the unit sizes are not known.

One industry watcher estimated that the two units are likely to have surpassed S$4,000 psf, a new benchmark for Sentosa Cove.

If the price of the fourth floor unit is indeed S$33.9 million, it would break the present record set for a duplex penthouse at Far East Organization’s Boulevard Vue project, which hit S$33.4 million in 2009. This translates to S$4,150 psf for the 8,051 sq ft unit, based on CBRE’s analysis of URA Realis caveats data.

Source : PropertyGuru – 26 Jul 2012