Many looking at market conditions, competition before deciding launch date
DEVELOPERS are busy getting projects launch ready. However, whether they release them by this year’s end or next year will depend on market conditions, ‘ground feedback’ from potential buyers and the segment of the market the projects are in.
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Far East Organization began previewing its Alba condo at Cairnhill Rise this week. The property giant is believed to have released 18 units up to the seventh floor of the 18-storey freehold condo, which has a total 50 units. The 18 units range from 1,862 to 2,250 sq ft.
Under the project’s ‘white plan’, Far East can customise apartment layouts to suit buyers’ preferences. The developer told BT that prices start from $2,400 psf. Alba comprises a single Y-shaped tower; most floors will have three units per floor although there are two levels in the development with just one unit per floor.
Oxley Land also began previewing Suites@Guillemard at Lim Ah Woo Road yesterday. The five-storey freehold project comprises 72 units, of which 45 are smallish one-bedders of 258-527 sq ft. The smallest unit is said to have been snapped up at about $400,000. As of 6pm yesterday, more than 50 units in the project were said to have been sold. The average price is believed to be about $1,000 psf. No interest absorption scheme (IAS) was offered. Continue reading
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