Tag Archives: d’Leedon

Two luxury projects compete for buyers

Situated right across each other, two luxury condominiums compete for luxury buyers amidst a tougher environment as the residential market slows, said media reports.

Located along Leedon Heights in District 10, the two projects – Leedon Residences and d’Leedon – are only a five-minute drive from Orchard Road.

The larger project, d’Leedon, features over 1,700 units, with sizes ranging from 592 sq ft, for a one-bedroom apartment to garden villas of over 8,000 sq ft. Prices range from $1.3 million for the one-bedders to $7.7 million for the villas. The seven building complex is slated to be completed this year.

Meanwhile, Leedon Residence offers 381 units ranging from 1,044 sq ft two-bedders to more than 8,000 sq ft penthouses. Leedon prices start at $2.2 million for two-bedders and the project is expected to be completed in 2015.

While majority of the units at both projects were snapped up, the unsold units face a tougher climate as the effects of the government’s various cooling measures start to bite.

In Q1 2014, sales of luxury condos plunged by more than 60 percent over the same period last year, said DTZ.

DTZ’s Research Head Lee Lay Keng said, “Some developers of luxury projects could be more willing to negotiate on prices.”

A spokesperson for d’Leedon’s developer, CapitaLand Singapore, declined to comment on any price changes at the development, but noted “developers have to make necessary adjustments in view of the prevailing market conditions.”

On the other hand, GuocoLand, the developer of Leedon Residences, revealed that it has maintained its prices.

As of April 2014, JLL data show that launched but unsold units at d’Leedon stands at 268 while Leedon Residence still has 100 units on the market.

“Buyers are becoming more discerning with their purchases and are quite price-sensitive,” said Chua Yang Liang, Head of Research at JLL.

Source : PropertyGuru

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Foreign interest up for private property

Foreign demand for private homes in Singapore increased 40 percent with 523 units purchased during the first quarter of 2013 compared to the 373 sold during the same period last year, although the figures are still below levels seen before the introduction of the additional buyer’s stamp duty (ABSD) in December 2011, The Straits Times reported.

Analysts also noted that there has been a shift in interest from luxury homes to mass market condominiums.

Quarter-on-quarter, foreigners (excluding PRs) took up 10.7 percent of the 4,884 private homes sold in Q1 this year, compared to 7.4 percent in the previous quarter.

This is also an increase from the first, second and third quarters of 2012 when foreign buyers purchased 5.7, 7.1 and 7.2 percent of new private homes sold respectively, according to the Urban Redevelopment Authority (URA).

Prime District 10 remained the most sought-after area to purchase property with District 19 following close behind. Projects popular among house hunters included d’Leedon in District 10 and La Fiesta in Sengkang.

The Chinese and Indonesians were the largest foreign buyer groups in Q1, followed by the Malaysians. Moreover, China buyers appear to be returning as a force in the market, accounting for 42.6 percent of the 108 foreign buyers in March.

Source : PropertyGuru – 23 Apr 2013