Tag Archives: The Interlace

Cooling-off measures had little impact on weekend’s sales

DEMAND for private homes remained strong over the weekend despite measures announced by the Government last week to take the froth off the market.

Property developers CapitaLand and Hotel Properties said yesterday that 233 units – or 65 per cent – of 360 units launched at The Interlace project, at the former Gillman Heights site in Alexandra Road, were sold in the past week.

A wide range of units from two-roomers to penthouses were sold at a price range of $850 per sq ft (psf) to $1,150 psf.

Guocoland, which held a preview launch of its freehold 119-unit Elliot At The East Coast project over the weekend, sold 45 – or 75 per cent – of 60 units launched at an average price of $970 psf.

At the upper-mid segment of the market, buyers snapped up another 5 per cent, or 14 units, at Singapore Land’s 289-unit Trizon At Mount Sinai over the weekend.

The project, at the site of the former Himiko Court, is now 70 per cent sold at a price range of $1,300 to $1,500 psf.

The long weekend’s sales seem to indicate that buying interest has not been dampened by the Government’s moves to cool the market, which include scrapping the interest absorption scheme (IAS) and restarting confirmed list land sales in the first half of next year. The IAS allowed buyers to put a down payment and defer the bulk of the purchase payment until the project was completed. Continue reading →