In its launch weekend, Treasure at Tampines managed to move a whopping 272 units at a median selling price of $1,280 psf. According to the Business Times, this translates to 56% of the 490 units launched and 12% of the total units (2,203) available at the 99-year leasehold development.
“We are impressed by sales the 2,203-unit project has managed so far. Treasure at Tampines is strategically positioned in one of the rapidly expanding regional centers in Singapore,” noted a spokesperson for Sim Lian.
“It offers us the confirmation that strategically located, easily accessible, and competitively priced projects will keep on enjoying impressive reception.” View their location and floor plan by clicking on the links.
“It is an extremely remarkable occupancy rate in the current marketing outlook due to its sensitive market price. Many HDB upgraders were ready to purchase a unit at the development,” stated CEO Ismail Gafoor of PropNex.
The marketing agencies overseeing the sale of this largest condominium project in Singapore include PropNex, ERA, and OrangeTee.
“If a developer manages to move over 10% to 15% of the total units in a project with over 1,000 units after the cooling measures, that is categorized as an impressive performance,” observed CEO Ismail.
Nicholas Mak, the executive director of ZACD Group, is optimistic that the launch of Treasure at Tampines will affect home price in the area not only this year but also next year.
Upcoming super projects should consider coming up with competitive prices in order to compete fairly with Treasure at Tampines.
Mak explained, “They need to set prices that reflect the property’s location, quality, and tenure.” Treasure at Tampines occupies a site previously occupied by Tampines Court and consist of 128 recreational facilities. The home choices at the 99-year leasehold development begin from one bedroom all the way to 5-bedder units.