The sale of brand new prime units in Districts 9 and 10 are seeing an increase. With the sales pick up comes a gradual rise in prices for the past few months.
At the OUE Twin Peaks, a reported two units have been sold from May 16 to 23, 2017. One is a three-bedroom unit measuring approximately 1,400 sqft, on the 25th floor. This posh property was sold for a hefty $3.89 million or $2,780 psf last May 23. The other unit is a one-bedroom unit. The latter measures 570 sqft on the 29th floor, which sold for $1.77 million or roughly $3,103 psf last May 17.
In January alone, 17 units have been sold with prices ranging from $1.44 million to $4.62 million ($2,630 psf to $2,881 psf). This is for a 1,600 sqft, 3-bedroom unit. Records on hand show that all the units have been successfully purchased at an average of $ 2,752 psf.
For the month of May, the company sold 11 units at an average selling price of $2,982 psf. Of these 11 units, all of which are located on the 23rd to 29th floors, selling price ranged from $1.56 million (for a 550-sqft unit to $1.86 million (for a 570-sqft unit). The other units were sold at $3.90 million and $4.03 million.
At least 95% of the units have been sold.
It is expected that Pollen & Bleu, another development by Singland will come in strong with 106-units to be sold. The development along Farrer Drive, features 8-storeys and has a 99-year leasehold that was completed in December of 2016. Units range in size from 549 sqft (1-Bedroom) to approx. 1,590 sqft (4-Bedroom). The same project also offers 2-bedroom loft units and a good mix of 3-BR, 4BR and 5BR duplex penthouses. The areas all range from 1,841 to 2,831 sqft.
Pollen & Bleu enjoyed a good increase in sales the past two months. In the week of May 16 to 23 alone, three units have been sold. Two of the three were 3-bedroom units. One is a 980 sqft unit that sold for $2.26 million and the other is a 1,184 sqft unit that sold for $2.27 million. The third unit is a 4-bedroom unit that sold for $3.34 million. More than 90% of the total units have already been sold with the highest selling price at $2,317.
Samuel Eyo, managing director for Singapore Christie International Real Estate, says that some of the units have been purchased by foreigners during the SQFT Global Properties roadshow that was held in Hong Kong last April. He adds that foreign buyers are attracted by the good pricing and payment schemes.
Another development that saw an incredible sales opening is Victoria Park Villas. 10 units have been sold for two days alone (May 20 and 21). Victoria Park Villas price is ranged from $3.85 million to $4.25 million. For the moment, Victoria Park Villas’ developer is offering select units at a ceiling price of $4.40 million.
CapitaLand has a 99-year leasehold landed project that features three bungalows and 106 semi-detached houses. This project’s completion date is scheduled for the early part of 2018. Majority of the buyers are of Singaporean nationality buying for their own use or for their children.