Condo sales taper off but interest still strong

PHOTO: Condo sales taper off but interest still strong

SINGAPORE - The frenetic pace of a few weeks ago might have eased but sales at new condominium projects are still healthy.

Hundreds of units flew off the shelves during the initial launches of a string of new suburban projects last month and buyers are still in the hunt although sales have tapered off.

The 582-unit Urban Vista next to Tanah Merah MRT station has moved 40 units over the past two weeks, bringing total sales to 370 apartments since its launch last month.

Average prices range from $1,400 to $1,550 per sq ft (psf) for the one- to four-bedroom units, said developers Fragrance Group and World Class Land.

Sim Lian Group's Hillion Residences condominium in Bukit Panjang has also enjoyed healthy sales, with 204 units in the 546-unit project sold at an average price of $1,370 psf.

The Hong Leong Holdings development in Bartley Ridge in Mount Vernon also continued to receive healthy interest from buyers, with more than 400 units sold at the 868-unit project.

About 260 units went during its initial launch weekend about two weeks ago.

Buyers have now claimed about 730 units of the 912 homes at D'Nest in Pasir Ris since its preview launch on March 15 where 500 units were snapped up within a matter of days.

Roxy-Pacific Holdings has moved about 70 apartments at Jade Residences - comprising 171 homes and two shop units in the Lorong Lew Lian area - since its launch last Friday. Prices work out to $1,416 psf on average, with a two-bedroom 527 sq ft unit going for about $845,000.

Most buyers are first- and second-timers who are buying mainly two- and three-bedders, said Mr Teo Hong Lim, executive chairman of Roxy-Pacific Holdings.

But sales at 512-unit Kingsford Hillview Peak are believed to be slow, with market sources saying that fewer than 100 units have been sold since its launch over a week ago.

Other developments gathering interest now include the Twin Fountains executive condominium in Woodlands, Sant Ritz in Potong Pasir and the mixed-use development on the former King Albert Park site.

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