Good take-up seen at home launches

[mr funny]

http://www.businesstimes.com.sg/sub/news/story/0,4574,415263,00.html?

Published November 29, 2010

Good take-up seen at home launches

CapitaLand sells 48 units at d'Leedon preview

By EMILYN YAP


(SINGAPORE) Property developers continued to log sales at their residential projects over the past week.

During the weekend, CapitaLand sold 48 units at d'Leedon - where Farrer Court used to be - for an average price of $1,680 per sq ft. It previewed the project only to former Farrer Court owners and 266 households visited the show gallery.

Units sold included one-plus-study units, two-bedders and three bedders. The former residents were able to choose from 200 units of various sizes across all floors in two towers.

The 99-year leasehold d'Leedon will have 1,703 apartments spread over seven towers and 12 semi-detached houses. Official sales will start this Thursday.

'We are very happy with the sales response,' said CapitaLand Residential Singapore CEO Wong Heang Fine. 'We expect more response from owners who could not make it for this preview.'

Another developer, UOL Group, has sold a total of 252 units out of 320 launched at the freehold Spottiswoode Residences. Selling prices ranged from $1,720 to $2,270 psf.

Sales at the project near Tanjong Pagar have been brisk. It was first launched about two weeks ago and 130 units were taken up during a three-day preview, out of 150 released then. The highest price achieved for those 130 units was $2,150 psf.

Over at Tampines, Sim Lian Group has sold 375 units at Waterview at an average price of $838 psf. It has launched 500 units in the 99-year leasehold project so far.

Sales have risen from last Monday, when the developer said that it sold 332 units.

Weekend sales figures for both Spottiswoode Residences and Waterview were not available. It is therefore unclear if the pace of home buying has slowed after more measures to keep the property market stable were announced last Thursday.

Concerned that hot money and low interest rates would send private home prices rising too quickly, the government pledged to release more land next year. Sites which can yield a record 14,310 new homes will be available under the H1 2011 land sales programme.

On Saturday, National Development Minister Mah Bow Tan also stressed that the government will introduce more measures to curb property prices if necessary.

[mr funny]

http://www.straitstimes.com/Money/Story/STIStory_608383.html

Nov 29, 2010

48 units sold at preview for d'Leedon condo

By Cheryl Lim


SALES of CapitaLand's latest development d'Leedon got off to a modest start over the weekend, with 48 units sold at a preview launch for a select group of buyers.

This was 24 per cent of the 200 units that were available at the preview, which was open exclusively to former owners of Farrer Court units. D'Leedon sits on the site of the former Farrer Court, which was sold en bloc in 2007.

The units that were on offer ranged from one- to three-bedroom apartments. They were priced at an average of $1,680 per sq ft (psf).

That makes the cheapest apartments - 635 sq ft units with a bedroom and study - less than $1 million each. A typical two-bedder of 1,055 sq ft would set a buyer back $1.5 million.

CapitaLand yesterday said owners from 266 Farrer Court units visited the show gallery over the weekend. The developer will begin public sales of the condominium on Thursday.

A former resident of Farrer Court, who declined to be named, felt the sale prices of d'Leedon were 'a little on the high side' for a 99-year leasehold project.

He said that units at nearby Waterfall Gardens, a new freehold development, were being sold at a comparative price. Still, he bought a $1.9 million three-bedroom unit at the d'Leedon.

'Two of my neighbours also felt (prices were a bit high),' he told The Straits Times.

'But we bought (units in) this place for sentimental reasons; we've lived in the area for so many years... You can't find other developments with these kinds of views.'

Another former resident, who gave her name only as Mrs Wong, purchased a studio apartment for slightly more than $1 million and said she felt prices were reasonable. 'It's not cheap but it's not expensive. Considering that the development looks quite nice and there is generous space offered, as well as the location and facilities, it's kind of a fair price to pay,' she said.

D'Leedon sits on a huge site of more than 840,000 sq ft, with 22 per cent of the land area being taken up by the 1,715 homes in the project.

The rest is slated for gardens, facilities such as two swimming pools and a gym, and retail outlets which could include restaurants, a laundromat and a clinic.

Buyers The Straits Times spoke to said they are confident the prices for units at d'Leedon will appreciate in the coming months.

Separately, property developer UOL Group said it has sold 252 of the 320 units released to date at its Spottiswoode Residences near Tanjong Pagar. A UOL spokesman said sales of the three-bedroom units were good and almost all of the development's seven penthouses have been sold.

Another developer, MCC Land, said nearly half of all the units at its executive condominium project The Canopy have been sold. Since its launch last month, the development located in Yishun Avenue 11 has sold 188 of the 406 units available.

[kingkong1984]

Good response for canopy? Btw, not sure about the restrictions. Would condo owners be allowed to buy? And would there be 5 yr restriction?

[rattydrama]

canopy is an EC only for HDB upgrader or first timer owner.

Good response for canopy? Btw, not sure about the restrictions. Would condo owners be allowed to buy? And would there be 5 yr restriction?

[DC33_2008]

It is not worth it as one will have to hold on to it 2.5yrs (construction period) plus 5yrs (MOP). Market would have come down, up and down.
canopy is an EC only for HDB upgrader or first timer owner.

[rattydrama]

thats why response has been poor after so long. 188 out of 406 and this has passed one month.


It is not worth it as one will have to hold on to it 2.5yrs (construction period) plus 5yrs (MOP). Market would have come down, up and down.

[hyenergix]

I believe Canopy will be in trouble because in the next few months there will be better located ECs and condos being launched.

[kingkong1984]

I believe Canopy will be in trouble because in the next few months there will be better located ECs and condos being launched.
Ca no by....... Ops its ca no py. Haha, at least developer drop hints. Next time they ask why the poor sales, they will get 'cannot be' 'cannot be' hahaha

[devilplate]

the power of MRT....see Esparina....more EX by around 80-100psf and yet selling far better....many 1st timer can afford but they r choosy!:D

yday tender closed for upp srgn DBSS...luckily still got 2 bids with winning bid at ard 220psf ppr....facing punggol park din help much either

[bargain hunter]

206psf ppr nia, not 220. the only other bid by sim lian so opportunistic at 150psf. :scared-1:


the power of MRT....see Esparina....more EX by around 80-100psf and yet selling far better....many 1st timer can afford but they r choosy!:D

yday tender closed for upp srgn DBSS...luckily still got 2 bids with winning bid at ard 220psf ppr....facing punggol park din help much either

[rattydrama]

maybe 5 year after TOP still selling at launch price?:scared-1: Look at current new site release - nearer to MRT.. so why park $ here?



It is not worth it as one will have to hold on to it 2.5yrs (construction period) plus 5yrs (MOP). Market would have come down, up and down.

[kingkong1984]

maybe 5 year after TOP still selling at launch price?:scared-1: Look at current new site release - nearer to MRT.. so why park $ here?
Maybe got pre top cheap sales also, for all sectors too.

[kane]

I believe Canopy will be in trouble because in the next few months there will be better located ECs and condos being launched.

eventually when there's no fish, prawn is also good. that's what happened to lilydale. when everything else is out of reach, people are force to accept second choices.

[devilplate]

eventually when there's no fish, prawn is also good. that's what happened to lilydale. when everything else is out of reach, people are force to accept second choices.

geylang prices aso up this yr...latecomer

[rattydrama]

yes but you are always lag behind. If economy down, sell at lost. If economy good, sell at breakeven. Either way it still lag.


eventually when there's no fish, prawn is also good. that's what happened to lilydale. when everything else is out of reach, people are force to accept second choices.

[kane]

the lagging effect merely means its investment quality isn't top notch, but that won't stop it from being fully sold out, albeit that it would take a much longer time. plus the motivations of buying an EC should be first, roof, second, investment. sometimes we read too much about whether a project can sell out within a few months, and that's no different from punting stocks. in fact stocks offer a better outlet, quick in quick out, all at a click of a button.

[rattydrama]

But buying property is not buying stock. It is not liquid. So I guess it is prudent to buy a slightly better ones if you can find base on your affordability.

All projects are able to sell out. It is very much dependant on the price.




the lagging effect merely means its investment quality isn't top notch, but that won't stop it from being fully sold out, albeit that it would take a much longer time. plus the motivations of buying an EC should be first, roof, second, investment. sometimes we read too much about whether a project can sell out within a few months, and that's no different from punting stocks. in fact stocks offer a better outlet, quick in quick out, all at a click of a button.