TWENTY-THREE apartments at the luxury Millennium Tower in San Francisco were sold during the Singapore launch of the project at prices ranging from US$680,000 to US$1.2 million, says the firm marketing it.
The 419-unit development, first launched in the US, is about 30-40 per cent sold. Singapore was the first stop in the global launch. Other cities on the tour include Shanghai and Hong Kong, and there are also plans to add more cities.
The development includes one, two and three-bedroom apartments, as well as penthouses. Units range in size from about 750 to 6,000 square feet.
Buyers who picked up a unit during the launch in Singapore were mainly local families buying for their children living in the US, people who have been to San Francisco and love the lifestyle and are looking for second or third homes, and buyers looking for long-term growth opportunities.
‘We have seen very strong sales coming from Singaporeans and Singapore-based expatriates,’ said Julian Sedgwick, senior associate director for international marketing at Savills Singapore.
Millennium Tower is being developed by Millennium Partners, a US developer known for its mixed-use projects. The development is the tallest luxury residential property in San Francisco. Besides the apartments, there will be two retail occupants and a restaurant and wine bar under the direction of acclaimed chef Michael Mina.
Source : Business Times – 14 Nov 2009
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