Singapore Property | Recently, sales in Core Central Region spike. There has been an increase in both transactions and inquiries of projects in the Core Central Region (CCR) during the second phase of reopening. There has been increasing interest within the first three months of the year before the lockdown. According to the head of the luxury team at PropNex Realty, Dominic Lee, “Interest has come from both foreigners and locals”
Projects in Core Central Region (CCR) like Kopar at Newton, 8 Saint Thomas, The M, The Avenir and Fyve Derbyshire sold the most number of units in July. Kopar at Newton sold 23 units ranging from 517 sqft to 1,819 sqft, with prices between $1.24 million and $4.42 million. The condo successfully sold 7 units in May and 17 units in June, 74 units have been sold in total since its launch.
Kopar at Newton was developed by CEL Development, it is an attractive condominium located at District 9, Makeway Road which is just a five-minute walk from the Newton MRT Station and Newton Food Centre. CEL Development is the property arm of Chip Eng Seng Corporation. The condo also comes with a 99-year leasehold.
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The M condominium was also able to sell 11 units making it the second-best performing project in the Core Central Region. It sold unit with 409 sq ft one-bedroom units at $992,200 ($2,426 psf). Also, selling its two-bedroom of 743 sq ft at $1.89 million ($2,547 psf). The M was the best-selling project this year by selling 70% of its units at launch weekend in February.
The 8 units sold at Avenir in July comprise one-bedroom units with 538 sq ft at $1.5 million ($2,789) and four-bedroom units of 2,411 sq ft. at $8 million ($3,318). The other condominiums like 8 Saint Thomas and Fyve Derbyshire were also able to sell a significant amount of units in July.