Tag Archives: Stratum

Condo sales heat up

New mass market projects launched last weekend received strong interest from home buyers, reported The Straits Times.

The 380-unit Stratum sold 190 of the 250 units released under its initial phase. The 99-year leasehold project by Elitist Development was launched at around S$900 psf.

Roxy-Pacific Holdings’ 121-unit Whitehaven sold close to 70 units at average prices of S$1,470 and S$1,480 psf, said Chief Executive Teo Hong Lim.

Meanwhile, the 336-unit Corals at Keppel Bay sold over 80 of the initial 100 units at its preview. Prices ranged from S$1,800 to S$3,000 psf. Most of the buyers were Singaporeans with one- to three-bedroom units being snapped up.

The report added that the condo development will be launched this weekend. Corals is the third project developed by Keppel Land on its Keppel Bay site, following the 969-unit Caribbean at Keppel Bay and 1,129-unit Reflections project.

Moving forward, more developments will be launched this month, including the 142-unit KAP Residences at King Albert Park – a project by Oxley Holdings, and Roxy-Pacific’s 64-unit Liv on Sophia.

The 12-storey NeWest mixed development on West Coast Drive may also come on to the market soon along with the 118-unit cluster housing project Belgravia Villas in Ang Mo Kio which would likely be priced from S$2.9 million.

Source – PropGuru – 22 May 2013

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Condo launching in Pasir Ris, price likely at S$900 psf

Stratum, a near residential development along Elias Road in Pasir Ris will be launched this Saturday (18 May).

Offering a resort-style concept, the 380-unit project comprises apartments ranging from studios to five-bedroom units and penthouses. Dual-key homes will also be available.

Developed by Elitist Development, the condominium will also come with full facilities including two large swimming pools, a gymnasium, tennis court and floating cabanas.

According to marketing agent HSR International Realtors, Phase 1 will likely be offered at an average psf price of S$900.

Alan Tan, Head of Local Projects at HSR, noted: “As Government Land Sales (GLS) bids for city fringe residential land parcels crossed S$1,100 psf ppr (the most recent being at Kim Tian Road, was priced at S$1,162 per plot ratio), it is inevitable that the prices of future residential projects would be launched at even higher price points in line with an overall increase in property prices. Pasir Ris’ private housing is affordable now, but not for long.”

Responding, Elaine Chow, Research Head at HSR, said: “We have conservatively assumed (in tandem with an economic outlook) that there will be a two percent to five percent increase in prices on a year-on-year basis. But even with this estimate, the median price for new private residential projects in Pasir Ris will certainly breach the S$1,000 psf by end-2013, if not earlier.”

Source – PropGuru – 16 May 2013