Cairnhill Nine and The Wisteria, the two newly launched residential projects recorded high sales during the 12-13 March weekend, which indicates that the integrated developments are still popular. The two projects sold about half of their units in the two days despite the dull housing market.
Cairnhill Nine located in Orchard with 268 residential units saw 70 % or 134 out of the 200 units that were launched on that weekend sold. This is a sale of 50 % of the entire residential project. The units sold had an average price of $2500 psf.
This condominium with leasehold of 99 years is section of integrated development which also includes 220 apartments that are serviced, known as Ascott Singapore.
The sold units consisted of 1, 2 and 4 bedrooms units plus the penthouses. These measured between 591 square feet to 3,864 square feet. The units most preferred were the one bedroom with a guest unit, which saw 80 % of the released 90 units sold.
The Wisteria, located in Yishun saw a similar response with 84 % or 116 of the 138 units that were released sold. The project with 216 apartments has a 99 year lease and it sits above two-storey mall where the three towers are spread.
Michael Leong, the CEO of the Keppel Land Management said that buyers were interested with the project because of its convenience due to being above a mall, and its affordability.
The sale translated to 53 % of all units and was sold at average prices ranging from $ 916 to 1,168 psf. The units sold ranged from 1 to 4 bedroom apartments and their sizes were from 441 square feet to 1, 173 square feet. All the units are expected to be complete by 2018.
For the Cairnhill Nine and The Wisteria residential projects, 50 percent of the buyers were Singaporeans. The others came from Malaysia, China and Indonesia.