About Kassia Sees Strong Sales on Launch Weekend. Tripartite Developers announced that 144 units (about 52%) of the Kassia condo were sold by 5 p.m. on Sunday, 21st of July 2024. This development has a total of 276 units. Prices start from S$1,821 psf, with 1 bedroom as well as 2 bedroom units being the most popular. Approximately 90% of the buyers were Singaporeans, while the remaining 10% were Permanent Residents.
Kassia is the 11th and final project in this enclave, developed by the Tripartite Developers over 30 years. Mainly at Flora Road as well as Flora Drive. This joint venture consists of Hong Leong Holdings, City Developments Ltd (CDL), and TID (a collaboration between Hong Leong and Mitsui Fudosan).
Read Also: SingHaiyi Sells 102 units of Sora in Jurong Lake District
Betsy Chng, head of sales at Hong Leong Holdings, noted that the strong take-up rate reflects a resilient demand for well-designed homes with functional layouts. ERA Singapore, Marcus Chu added that units priced around S$1.5 million hit the sweet spot for many buyers. The most popular units over the weekend were 657 sq ft two-bedroom apartments. They were priced from S$1.196 million, with 65 out of 72 units sold.
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The 1 bedroom units of 474 sqft, priced from S$883,000, were also in demand. The units with 37 out of 52 sold. Additionally, 1 Bedroom + Study units of 549 sqft saw 19 out of 28 units snapped up.
Chu mentioned that the majority of buyers were in their 30s and 40s. Comprising both owner-occupants and investors. He noted that units priced up to S$1.5 million are seen as prudent choices amid high interest rates and elevated Additional Buyers Stamp Duty (ABSD).
Huttons Asia, Mark Yip highlighted that Kassia is the second major project launch in the OCR (Outside Central Region) after the June school holidays, following Sora. Yip also mentioned that Kassia’s prices are attractive. Especially for a freehold project with one-bedroom units priced below S$1 million, a rarity since the pre-Covid years.
Ismail Gafoor, CEO of PropNex, pointed out that Kassia’s launch take-up rate is among the highest for new projects this year. Second only to Lentor Mansion, which sold 75% of its 533 units at launch in March.
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