Though the cooling measures still affect the real estate market, the industry at the Outside Central Region (OCR) in particular are still soaring and still getting a lot of interested buyers.
In the recent data coming from Urban Redevelopment Authority, the number of buyers surged during the month of May. As a matter of fact, there were as much as 638 units sold and about 469 units are located at the OCR. About 94 units from the latter figure were actually from Botanique @ Bartley. Because it has been a consistent best seller since it was launched last April and despite the subdued real estate market, Botanique @ Bartley bagged the top performer for the month of May. The sold units are about to reach half of the total rooms that will soon rise at the Botanique. As of this writing, there were already 394 units owned by various investors, both Singapore locals and overseas investors.
In an interview with the Anthony Wong, the General Marketing Manager of UOL, he said the different reasons why their project outperformed the rest of the OCR developments last May even though it was only launched recently. For one, Mr. Wong believes that the location is Botanique’s asset. The MRT stations are nearby and Paya Lebar currently an emerging area for residents as well. Other than that, compared to the other developments that are located within the same district, Botanique @ Bartley has more reasonable pricing. Given these reasons, Wong said that there’s no wonder why many choose to invest and probably live at the Botanique @ Bartley.
Apart from the executive condominiums, another name that emerges despite the current state of the real estate market is the North Park Residences. Last May, it sold as much as 59 units with an average price of SG$ 1,397 per square foot.