Tag Archives: Trizon

Hundred Trees defies market chill elsewhere

Posted on 29 Sep 2009 | Comments Off on Hundred Trees defies market chill elsewhere

Almost 80 per cent of the units in Hundred Trees have been snapped up ahead of the condo’s formal launch this weekened.

City Developments Ltd (CDL) sold a whopping 316 units last week at its Hundred Trees condo in the West Coast, a quarter of them on interest absorption scheme (IAS). Demand for most other projects, however, seemed to falter.

‘Hundred Trees is amongst the last few developments where buyers may opt for IAS,’ CDL noted in its press release yesterday. The developer has raised the 956-year leasehold condo’s average price from $895 psf initially to about $910 psf. Those who buy on IAS pay a 2.5 per cent price premium.

It was a different story elsewhere as house-hunters ponder the implications of the Sept 14 measures by the government to cool the market. These include scrapping IAS and restarting confirmed list government land sales in first half 2010.

One property consultant even hazarded a guess that ‘a pull-back in demand of 10 per cent is not unrealistic’.

BT understands that CapitaLand and its partners last week sold fewer than 20 units at The InterLace condo which will be developed on the Gillman Heights site, after selling 233 units the preceding week. No IAS is being offered for the 99-year leasehold condo. Continue reading →

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Private homes still seeing high demand

Posted on 22 Sep 2009 | Comments Off on Private homes still seeing high demand

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 →

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