reporter2
13-04-12, 02:52
http://business.asiaone.com/Business/My%2BMoney/Property/Story/A1Story20120407-338201.html
Sunday, Apr 08, 2012
The Business Times
ERA's marketing of Sky Habitat causes stir
By Mindy Tan
Three most actively transacted completed non-landed residential developments in the top five districts in 2011. (http://www.asiaone.com/static/business/gallery/120224_hotspots/pic1.html)
In their eagerness to market units before the official launch of Sky Habitat, marketing agents ERA Realty had a brush with the law last week.
According to a LTA spokesperson, LTA officers spotted the display of banners within public streets and setting up of tentage by agents along Bishan Street 14 on March 30, 2012, and asked the agents to remove the banners, at the same time advising them to remove the tentage which they were using as a working area to distribute pamphlets to motorists who were driving past.
"We will be issuing notices of offence to the agents for the unauthorised display of banners. We have also notified the Council for Estate Agencies (CEA) about the agents' promotional activities along Bishan Street 14 and have requested them to take necessary action if their agents are found to breach the Council's Code of Practice," added the spokesperson.
The long queues formed in front of CapitaLand's Bedok Residences' showroom days before the official launch had earlier resulted in the estate agency watchdog spelling out in detail, for the first time, the rules on queues for condominium launches.
Residents in Bishan said that the marketing for the project has been quite aggressive, with flyers distributed to individual homes, and booths and banners set up within Junction 8.
Knight Frank and ERA are the marketing agents for Sky Habitat, the 99-year condominium project located in Bishan Central on Bishan Street 15.
Thus far, there has been encouraging interest based on the number of people pre-registering their interests, said agents for the project, which comprises 509 units across two 38-storey towers.
The project, which is designed by Moshe Safdie - the architect behind the Marina Bay Sands integrated resort - is developed by Bishan Residential Development - a joint venture between CapitaLand's CapitaLand Residential Singapore, Mitsubishi Estate Asia and Shimizu Investment (Asia). It is expected to be launched on April 14.
According to a report issued earlier, indicative prices for the project are in the range of $1,700 and $1,800 psf; the figure can change, depending on buyer interest, closer to the target launch date.
At the price, the condo will set benchmark prices across all suburban projects.
Unit types for Sky Habitat include one-bedroom plus study (635 to 958 sq ft), two-bedroom (721 to 1,302 sq ft), three-bedroom (1,216 to 1,894 sq ft), four-bedroom units (1,550 to 2,260 sq ft), and penthouse units (2,551 to 3,671 sq ft).
A majority of the units are three-bedroom units (218 units), followed by the two-bedroom and two-bedroom plus study units, of which there are 68 and 82 units respectively.
"We're not in the habit of building small units, that simply is not our philosophy. For Sky Habitat, (we are looking to) attract families who need more space, so the focus is on three-bedroom units," said Wong Heang Fine, chief executive of CapitaLand Residential Singapore.
"House prices are a reflection of global sentiments and economic growth and interest rates. Given current conditions, where global sentiments seem to be improving and interest rates remain low and very competitive, I think there will still be demand for private housing," he added.
This article was first published in The Business Times.
Sunday, Apr 08, 2012
The Business Times
ERA's marketing of Sky Habitat causes stir
By Mindy Tan
Three most actively transacted completed non-landed residential developments in the top five districts in 2011. (http://www.asiaone.com/static/business/gallery/120224_hotspots/pic1.html)
In their eagerness to market units before the official launch of Sky Habitat, marketing agents ERA Realty had a brush with the law last week.
According to a LTA spokesperson, LTA officers spotted the display of banners within public streets and setting up of tentage by agents along Bishan Street 14 on March 30, 2012, and asked the agents to remove the banners, at the same time advising them to remove the tentage which they were using as a working area to distribute pamphlets to motorists who were driving past.
"We will be issuing notices of offence to the agents for the unauthorised display of banners. We have also notified the Council for Estate Agencies (CEA) about the agents' promotional activities along Bishan Street 14 and have requested them to take necessary action if their agents are found to breach the Council's Code of Practice," added the spokesperson.
The long queues formed in front of CapitaLand's Bedok Residences' showroom days before the official launch had earlier resulted in the estate agency watchdog spelling out in detail, for the first time, the rules on queues for condominium launches.
Residents in Bishan said that the marketing for the project has been quite aggressive, with flyers distributed to individual homes, and booths and banners set up within Junction 8.
Knight Frank and ERA are the marketing agents for Sky Habitat, the 99-year condominium project located in Bishan Central on Bishan Street 15.
Thus far, there has been encouraging interest based on the number of people pre-registering their interests, said agents for the project, which comprises 509 units across two 38-storey towers.
The project, which is designed by Moshe Safdie - the architect behind the Marina Bay Sands integrated resort - is developed by Bishan Residential Development - a joint venture between CapitaLand's CapitaLand Residential Singapore, Mitsubishi Estate Asia and Shimizu Investment (Asia). It is expected to be launched on April 14.
According to a report issued earlier, indicative prices for the project are in the range of $1,700 and $1,800 psf; the figure can change, depending on buyer interest, closer to the target launch date.
At the price, the condo will set benchmark prices across all suburban projects.
Unit types for Sky Habitat include one-bedroom plus study (635 to 958 sq ft), two-bedroom (721 to 1,302 sq ft), three-bedroom (1,216 to 1,894 sq ft), four-bedroom units (1,550 to 2,260 sq ft), and penthouse units (2,551 to 3,671 sq ft).
A majority of the units are three-bedroom units (218 units), followed by the two-bedroom and two-bedroom plus study units, of which there are 68 and 82 units respectively.
"We're not in the habit of building small units, that simply is not our philosophy. For Sky Habitat, (we are looking to) attract families who need more space, so the focus is on three-bedroom units," said Wong Heang Fine, chief executive of CapitaLand Residential Singapore.
"House prices are a reflection of global sentiments and economic growth and interest rates. Given current conditions, where global sentiments seem to be improving and interest rates remain low and very competitive, I think there will still be demand for private housing," he added.
This article was first published in The Business Times.