Category Archives: New Launches

Strong week for private home sales

Posted on 8 May 2012 | Comments Off on Strong week for private home sales

Approximately 325 new private homes were sold over the past week, amid property launches and rock bottom interest rates.

67 units were sold at Far East Organization’s 338-unit SeaHill in West Coast Link, taking total sales to 185 units since it was launched last month. Homes at the 99-year leasehold project were sold for an average of S$1,329 psf.

Far East also saw 34 more units taken up at the Hillsta in Choa Chu Kang, Silversea along East Coast and euHabitat in Eunos.

Meanwhile, MCL Land sold 27 homes at the 679-unit Ripple Bay in Pasir Ris, bringing total sales to 532 units at an average price of S$870 psf.

At the same time, over 200 units at Eight Riversuites in Whampoa East were sold at a private preview over the weekend. The 99-year leasehold project has an average selling price of S$1,400 psf, inclusive of the five percent early-bird discount.

The strong results mean that private home sales in Q1 have set a new quarterly record, with 6,682 homes sold. A big number of units sold were smaller units or shoebox apartments measuring 500 sq ft or less.

Mohamed Ismail, Chief Executive Officer of PropNex Realty, believes the sustained sales momentum reflects a strong appetite for new and reasonably priced projects located in strategic areas. In addition, he anticipates sustained healthy demand in the next one to two quarters.

Source: PropertyGuru – 8 May 2012

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Posted in New Launches, Property Market / Real Estate, Property Price

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BS Capital to launch ‘shoebox’ residential project

Posted on 10 Jun 2011 | Comments Off on BS Capital to launch ‘shoebox’ residential project

Developer BS Capital is launching a new “shoebox” residential project off Balestier.

Called The Interweave, the 169-unit freehold development located at Kim Keat Road sits on a 32,500 sq ft site and houses one 21-storey block of apartments.

It offers 110 shoebox units between 344 sq ft and 431 sq ft, 57 two-bedrooms units at between 689 sq ft and 764 sq ft, and two three-bedroom units at up to 1,141 sq ft. The project has a car park, outdoor pool deck and other recreational facilities.

Apartments at The Interweave are priced at an average of S$1,380 per sq ft, or from S$535,000.

BS Capital said its pricing was close to the break-even cost of the recently-transacted sites in the vicinity. It added that the pricing was “substantially lower” than recent projects launched in the area.

Another recent shoebox project in Balestier is Okio Residences by SDB Asia.

The 18-storey freehold development offers 104 shoebox units that are less than 500 sq ft each, as well as two-bedroom units and penthouses at 1,098 sq ft and below.

Mr Colin Tan, head of Research and Consultancy at Chesterton Suntec International, said the lower pricing for The Interweave could be due to its less accessible location compared to Okio Residences, which is in the heart of Balestier. But Mr Tan pointed out that on a per unit area basis, The Interweave is actually priced on the “high side”.

Source : Today – 10 Jun 2011

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Posted in Developers, New Launches

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