A Spanish-themed executive condo “Ola” has decided to sell 30% or 167 of its 548 units. The project which is based in Sengkang will sell off its 30% units during its first weekend of sales. This event was revealed by its property developer Anchorvale Pte Ltd.
On the 22nd of March, 30% of all three, four, and five-bedroom units were purchased. To view floor plans, please click on the link. While about 10% of two-bedrooms was also sold on that day. Report shows that 3 out of 30 two-bedroom units were sold on that day. 135 out of 422 units of Three-bedroom and three-bedroom plus one premium units were also sold. The four-bedroom units it was seen that only 26 out of 87 units were bought. And only 3 out of 9 units of its five-bedroom were also purchased.
This means that 10% of its two-bedroom units were sold, 32% of its three-bedroom were sold, 30% of its four-bedroom were sold, and 33% of its five-bedroom were sold. Out of the units sold, the Ola price was seen to be at an average of $1,135 per sq ft (PSF). Only 3 out of 9 penthouses were sold about $2million each.
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Gamuda Land and Evia Real Estate joint venture were in charge of the development of the condominium. The property developer Anchorvale has reviewed that 38% of buyers were on a deferred payment scheme. The rest were on normal progressive payment.
“The Covid-19 situation has improved job uncertainty and the economy of Singapore, especially in the past few weeks,”
“This is also showed in the lower-than-expected purchase on the first weekend of sales and how a higher proportion of buyers are choosing deferred payment,” said Director of Evia Real Estate, Vincent Ong.
He said that OLA is probably the only sizable housing project available with unique sales options. He also noted the impact of the sales launch after the Covid-19 health situation is felt across the city.