Existing projects had a pickup in sales in the March 14 – 21 week. TRE Residences and Sims Urban Oasis sales are among the existing projects whose rise in sales was attributed to the launch of Park Place Residences.
Sims Urban Oasis is a 1,024-unit project by GuocoLand that is set for completion later in the year. Since the start of March, the 99-year leasehold project has seen a rise in transactions. Caveats lodged in March shows Sims Urban Oasis moving 35 units of between $728,757 for a 1 bedroom measuring 484 sqft to 1.61m for a 4 bedrooms unit measuring 1,206 sqft.
(Artist's impression of Sims Urban Oasis by GuocoLand)
March sales are the highest monthly sales for the project since October 2015. The number is also more than twice the February sales of 14 units. So far, 65% or 670 units of the project located on Sims Drive have been sold.
TRE Residences has also recorded a rise in sales in March. The condo has 250 units and it is located near Aljunied MRT. Based on March lodged caveats, at least 20 units were sold in the month. The TRE Residences prices were from $898,000 for a 2 bedrooms unit measuring 570 sqft while a 4 bedrooms dual-key unit fetched $1.31 million.
According to URA data, TRE residences had sold 66 units up to February 2017. Launched in Nov 2014, the project had 42 units sold by December 2014. The past 2 years had sluggish sales until recently.
Property agents are attributing the pickup in sales at the two projects to the recent launch of Paya Lebar Quarter’s Park Place Residences. The 429-unit condo opened for preview on 11 March. The first day of sales was on March 25 with 50% of the units (215 units) being taken up. A 1-bedroom unit fetched $800,000 while a 3 bedrooms premium unit fetched $2.1 million. Lendlease, its developer has closed the showflat and will release the second phase later.
Another recent launch is Marine Blue by CapitaLand whose 15 units have been sold. Completed in October 2016, the freehold 124-unit project was launched officially on 18 March. So far, units sold include a 1 bedroom plus study units of 635 to 732 sqft that fetched from $1.1 m to $1.45m. A loft of 1 bedroom plus study measuring 1,270 sqft fetched $1.65 m. One penthouse of 3,089 sq ft was sold at $4.38m while the one measuring 3,261 sqft fetched $4.44m.
Marine Blue is adjacent to the Marine Parade MRT that is coming up and the Grand Mercury Roxy Hotel.
You may like to read on another upcoming launch by GuocoLand, Martin Modern.