reporter2
13-03-13, 15:40
http://www.straitstimes.com/archive/friday/premium/money/story/new-condo-projects-good-start-20130308
New condo projects off to a good start
Developments launched after latest round of curbs enjoying healthy bookings
Published on Mar 08, 2013
By Melissa Tan
TWO projects launched soon after the most recent cooling measures kicked in reported healthy bookings when they opened for sales yesterday.
Sennett Residence in Potong Pasir had sold 170 units by 8.30pm yesterday, said developer Tuan Sing Holdings' chief financial officer Chong Chou Yuen.
The swag of sales came within several hours of the 332-unit project's launch at 5pm.
Marketing agents for the project had collected more than 400 blank cheques prior to the launch.
Units sold for about $1,450 psf on average. That translates to about $700,000 for the smallest one-bedder at 485 sq ft to about $6.1 million for the largest penthouse at around 4,200 sq ft.
Another project, The Trilinq in Clementi, chalked up healthy sales at a preview yesterday.
Of the 200 units launched, 85 were sold by 2pm, its developer IOI Group said yesterday. The project has 755 units.
Prices at the 99-year leasehold condominium ranged from $1,200 to $1,600 psf at the preview, an IOI spokesman told The Straits Times.
This is after a 7 per cent discount to offset the additional buyer's stamp duty plus a 2 per cent early- bird discount.
Nearly all the buyers were Singaporeans living in HDB flats, she noted, and 80 per cent of units sold were two- and three-bedders.
A two-bedder costs about $1.04 million while a three-bedder about $1.33 million.
The Trilinq is about 400m from The Clementi Mall and Clementi MRT station. It consists of two 36-storey towers with an attic, and a 33-storey block.
Its smallest unit, a 538 sq ft one-bedder, costs about $855,000 or $1,589 psf.
The largest unit launched yesterday was a 1,518 sq ft four-bedroom unit, at about $1.84 million or $1,212 psf.
The project also has penthouses, the largest of which is 4,456 sq ft.
Only one-bedroom to four-bedroom units were launched yesterday.
Analysts cited The Trilinq's location as one factor for the strong interest in the project.
"It has been some time since a residential condominium has been launched in this part of the west. Therefore, we expect a fairly strong level of interest," said Mr Joseph Tan, executive director for residential at CBRE.
Mr Tan noted that the site's surroundings have undergone some redevelopment in recent years, with the opening of The Clementi Mall in 2011.
The Trilinq opened for viewing two weeks ago.
Hong Leong Group's 868-unit condo Bartley Ridge, in Mount Vernon Road, also opened for viewing yesterday.
Agents told The Straits Times that the showflat was packed yesterday even though the project is likely to launch only later this month.
Sources said prices at the 99-year leasehold project are likely to be slightly higher than those at Bartley Residences.
Units there cost $1,250 psf on average when the project was launched in February last year.
Other launches expected later this month include Urban Vista in Tanah Merah and Kingsford @ Hillview Peak.
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New condo projects off to a good start
Developments launched after latest round of curbs enjoying healthy bookings
Published on Mar 08, 2013
By Melissa Tan
TWO projects launched soon after the most recent cooling measures kicked in reported healthy bookings when they opened for sales yesterday.
Sennett Residence in Potong Pasir had sold 170 units by 8.30pm yesterday, said developer Tuan Sing Holdings' chief financial officer Chong Chou Yuen.
The swag of sales came within several hours of the 332-unit project's launch at 5pm.
Marketing agents for the project had collected more than 400 blank cheques prior to the launch.
Units sold for about $1,450 psf on average. That translates to about $700,000 for the smallest one-bedder at 485 sq ft to about $6.1 million for the largest penthouse at around 4,200 sq ft.
Another project, The Trilinq in Clementi, chalked up healthy sales at a preview yesterday.
Of the 200 units launched, 85 were sold by 2pm, its developer IOI Group said yesterday. The project has 755 units.
Prices at the 99-year leasehold condominium ranged from $1,200 to $1,600 psf at the preview, an IOI spokesman told The Straits Times.
This is after a 7 per cent discount to offset the additional buyer's stamp duty plus a 2 per cent early- bird discount.
Nearly all the buyers were Singaporeans living in HDB flats, she noted, and 80 per cent of units sold were two- and three-bedders.
A two-bedder costs about $1.04 million while a three-bedder about $1.33 million.
The Trilinq is about 400m from The Clementi Mall and Clementi MRT station. It consists of two 36-storey towers with an attic, and a 33-storey block.
Its smallest unit, a 538 sq ft one-bedder, costs about $855,000 or $1,589 psf.
The largest unit launched yesterday was a 1,518 sq ft four-bedroom unit, at about $1.84 million or $1,212 psf.
The project also has penthouses, the largest of which is 4,456 sq ft.
Only one-bedroom to four-bedroom units were launched yesterday.
Analysts cited The Trilinq's location as one factor for the strong interest in the project.
"It has been some time since a residential condominium has been launched in this part of the west. Therefore, we expect a fairly strong level of interest," said Mr Joseph Tan, executive director for residential at CBRE.
Mr Tan noted that the site's surroundings have undergone some redevelopment in recent years, with the opening of The Clementi Mall in 2011.
The Trilinq opened for viewing two weeks ago.
Hong Leong Group's 868-unit condo Bartley Ridge, in Mount Vernon Road, also opened for viewing yesterday.
Agents told The Straits Times that the showflat was packed yesterday even though the project is likely to launch only later this month.
Sources said prices at the 99-year leasehold project are likely to be slightly higher than those at Bartley Residences.
Units there cost $1,250 psf on average when the project was launched in February last year.
Other launches expected later this month include Urban Vista in Tanah Merah and Kingsford @ Hillview Peak.
[email protected]