http://www.businesstimes.com.sg/spec...jan-4-20131203

Published December 03, 2013

Sales for Kaleido terrace houses to start on Jan 4

Showflat for the project to open for private preview this weekend

By ong chor hao ongch@sph.com.sg


Living in style: Each unit at Kaleido - a cluster of 14 freehold terrace houses along Lorong K Telok Kurau - has three storeys, two basement carpark lots, five bedrooms, living and dining rooms, and a lift. - PHOTO: KNIGHT FRANK SINGAPORE

SALES for Kaleido, a 14-unit cluster of freehold terrace houses along Lorong K Telok Kurau, will start on Jan 4, tagged with an average price of around $1,000 per square foot (psf).

The showflat will open for a private preview this weekend, said Knight Frank, which is marketing the project for Amerald Land, a wholly owned subsidiary of Precise Development. Amerald Land is also behind the 16-unit Shiro freehold development in Lorong H Telok Kurau.

Each unit at Kaleido has three storeys, two basement carpark lots, five bedrooms, living and dining rooms, and a lift; they come with high ceilings and rectangular layouts, with their sizes ranging from 3,100 square feet to 3,498 square feet.

Prices start at $3.3 million in absolute terms.

Tan Tee Khoon, executive director of residential services at Knight Frank Singapore, said: "District 15 - or, to be more specific, the Telok Kurau area - continues to be a popular location for developments that are favoured by both developers and buyers."

He noted that Kaleido is a short drive from popular malls such as Parkway Parade and I12 Katong; its proximity to schools such as Tao Nan School and Victoria Junior College is also a draw.

During the preview, prices will be slashed by 19 per cent: The developer will offer a 10 per cent discount from the list price, absorb the 7 per cent stamp duty and give another 2 per cent off as an early-bird discount.

Eugene Lim, associate director of residential services at Knight Frank Singapore, said the discounts account for market sentiment following this year's introduction of the Total Debt Servicing Ratio (TDSR) framework and the additional buyer's stamp duty (ABSD).

He said it was highly likely that a unit at Kaleido would not be the first property purchase for the development's prospective buyers, which means they will be affected by the TDSR and ABSD.

"So (the developer) is giving a bit of a sweetener to the buyer. That's why it is giving this discount only during the preview stage."