CapitaLand's The Wharf Residences continues to see strong sales

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http://www.channelnewsasia.com/stories/singaporebusinessnews/view/430048/1/.html

CapitaLand's The Wharf Residences continues to see strong sales

By Wong Siew Ying, Channel NewsAsia | Posted: 18 May 2009 1605 hrs


SINGAPORE : CapitaLand's newly released units at The Wharf Residences continued to see strong sales over the weekend, with another 24 units transacted.

The developer had earlier sold 85 per cent of the 100 units launched on May 15.

All in, CapitaLand said 134 units out of the 173 unit at The Wharf Residences have been sold.

Apartments at the 999-year leasehold project are priced at between S$1,300 and S$1,600 per square foot.

The developer said 8 in 10 of the homebuyers are Singaporeans, with the rest coming from China, Japan, Canada, Vietnam, Malaysia and Indonesia.

The Wharf Residences is located at Tong Watt Road, off Mohamed Sultan Road near the city centre.

CapitaLand added that it will present other projects, like the proposed development at Gillman Heights Condominium site, at an appropriate time. - CNA /ls

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http://www.straitstimes.com/Money/Story/STIStory_378107.html

May 18, 2009 Monday

CapitaLand sells 80% of Wharf Residence


HOMEBUYER sentiment continued to hold up over the weekend, with units of CapitaLand's The Wharf Residence selling fast.

The property giant launched 100 units last Friday, of which 85 were snapped up that same day.

The Wharf Residence is a 999-year leasehold condominium, located off the hip Mohamed Sultan Road, comprising four residential towers and 13 conservation shophouses.

Over the weekend, CapitaLand released more units and sold another 24. During its launch last year, 25 units were sold. The weekend sales bring the total number of units sold to 134, as of 4pm yesterday.

With 173 apartments in the development, CapitaLand has chalked up a respectable tally of nearly 80 per cent sold.

In a press statement yesterday, CapitaLand said that it sold the units at an average price of between $1,300 and $1,600 per sq ft (psf). Prices are down, lower than the range of $1,429 psf to $1,708 psf seen in the third quarter of last year.

Another selling point could have been the stamp duty absorption and interest absorption scheme.

Ms Patricia Chia, chief executive of CapitaLand Residential Singapore, said that four out of five of the homebuyers were locals. The rest of the buyers hailed from Indonesia, Malaysia, China, Japan, Canada and Vietnam.

She added that the heritage homes will be launched for sale soon.

The sales of The Wharf Residence suggest that the healthy performance of the property market, as seen by the strong showing in new private home sales last month, is set to continue.


LEE SU SHYAN

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http://www.businesstimes.com.sg/sub/companies/story/0,4574,333427,00.html?

Published May 18, 2009

CapitaLand sells 24 more The Wharf Residence units

About 80% of buyers for the 134 units sold to date are Singaporeans


CAPITALAND has sold another 24 apartments over the weekend at The Wharf Residence at Tong Watt Road, off Mohamed Sultan Road, the listed property group said in a release yesterday.

http://www.businesstimes.com.sg/mnt/media/image/launched/2009-05-18/BT_IMAGES_KRWHARF18.jpg
Price range: Artist's impression of The Wharf Residence, where the apartments are priced at between $1,300 and $1,600 psf

This comes after the sale of 85 apartments on Friday following a relaunch of the 999-year-leasehold project.

The apartments are priced at between $1,300 and $1,600 per square foot (psf) inclusive of a package comprising stamp duty absorption and an interest absorption scheme.

Buyers who do not opt for this package will enjoy an 8 per cent discount.

Last year, CapitaLand priced apartments in the development at $1,500 to $1,900 psf, again inclusive of the stamp duty/interest absorption package.

However, buyers were not given the choice of not opting for this package.

With the latest sales achieved up to 4pm yesterday, CapitaLand has sold 134 of the total 173 apartments in the project.

About 80 per cent of buyers for the 134 units sold to date are Singaporeans.

The rest are from Indonesia, Malaysia, China, Japan, Canada and Vietnam, said CapitaLand Residential Singapore CEO Patricia Chia.

The apartments comprise two to four-bedroom units ranging from 1,012 to 2,196 square feet, as well as five penthouses (2,745 to 5,565 sq ft).

The development also includes 13 conserved shophouses, dubbed the Vintage Collection houses, ranging from 4,478 to 4,930 sq ft in strata area.

Ms Chia said CapitaLand has received queries for the conserved houses and will launch them for sale soon.