Just one property launch over weekend as pace slows

PHOTO: Just one property launch over weekend as pace slows

The pace of new launches has slowed, with only one project, Cambio Suites, hitting the market over the weekend.

Launched officially on June 8, the project at Lim Tua Tow Road in Kovan, sold 24 out of 53 units at an average price of $1,450 per sq ft (psf).

Cambio's developer is a joint venture between ACT Holdings, Nobel Design, and Pinnacle Assets.

The project has a mix of two-bedroom, three-bedroom and penthouse units, ranging from 506 sq ft to 1,744 sq ft.

Mr James Toh, managing director of ACT Holdings, said that one penthouse of 1,615 sq ft was sold at $1.81 million.

As well, 13 two-bedroom units and 10 three-bedroom units were bought, mostly by first-time buyers, added Mr Toh.

At Jewel @ Buangkok, which was launched the previous weekend, another 27 units were sold.

This brings the total number of units sold at the project to 230. City Developments estimated that 82 per cent of buyers were Singaporeans, with foreigners and permanent residents making up the remainder.

The 616-unit project is near the Buangkok MRT station, and is priced at about $1,150 psf.

At another project that was launched last month, the 380-unit Stratum in Pasir Ris sold 10 units, at an average price of $920 psf to $930 psf.

They included two penthouses and three three-bedroom units.

One of the penthouses, spanning 1,768 sq ft, was sold with a price tag of about $1.5 million.

To date, 296 out of 360 units released have been sold, with Singaporeans making up the bulk of the buyers. All three-, four- and five-bedroom units have been sold.

Units at the 99-year leasehold development range from 432 sq ft for a studio to 2,446 sq ft for a five-bedroom duplex penthouse.

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