80% of Lakefront Residences sold

[mr funny]

http://www.businesstimes.com.sg/sub/...51140,00.html?

Published November 15, 2010

80% of Lakefront Residences sold


KEPPEL Land sold some 70 units of The Lakefront Residences over the weekend, bringing its total sales since Friday's preview to 320 units.

The 320 units, which represent 80 per cent of 400 units currently up for sale, were sold at an average price of $1,020 psf, a company spokeswoman told BT yesterday.

The average price is reportedly a new record for the location. The 99-year leasehold condo is next to Lakeside MRT station and near Jurong Lake, with unit sizes ranging from 484 sq ft for a one-bedder to about 3,000 sq ft for a penthouse.

The project includes 69 one-bedders, 158 two-bedders, 255 three-bedders, and 98 three-bedroom- plus-study units. There were also 32 four-bedroom apartments and 17 penthouses up for sale.

By comparison, units at Caspian, a neighbouring residential project, have been selling mostly at $700-800 psf in the subsale market since August.

Another project in the spotlight is the UOL Group's Spottiswoode Residences, a 351-unit residential development located in the Tanjong Pagar area.

A company spokeswoman declined to give details of its unit sales over the weekend, but said numbers should be available by Wednesday, the project's main launch date.

[kane]

title misleading, like what some of the forum members have pointed out, it should be 80% of launched units.

[EBD]

title misleading, like what some of the forum members have pointed out, it should be 80% of launched units.

But this is standard operating procedure.
If for example they have launched say 300 units out of 600, then 80% of 300 = 240 units which means there is still 60% of the total units available.
Phrase it like the developer will, and unedited repeated by unquestioning lousy reporters - it looks like only 20% is left.

Make it look like there is a real scarecity to fire up the Singaporean kiasu behaviour. Then bleed them dry when there is no shortage at all.

[kane]

But this is standard operating procedure.
If for example they have launched say 300 units out of 600, then 80% of 300 = 240 units which means there is still 60% of the total units available.
Phrase it like the developer will, and unedited repeated by unquestioning lousy reporters - it looks like only 20% is left.

Make it look like there is a real scarecity to fire up the Singaporean kiasu behaviour. Then bleed them dry when there is no shortage at all.

well at least this forum does it's members some good in terms of differentiating fact from fiction.

[rattydrama]

how much reporters are earning?

But this is standard operating procedure.
If for example they have launched say 300 units out of 600, then 80% of 300 = 240 units which means there is still 60% of the total units available.
Phrase it like the developer will, and unedited repeated by unquestioning lousy reporters - it looks like only 20% is left.

Make it look like there is a real scarecity to fire up the Singaporean kiasu behaviour. Then bleed them dry when there is no shortage at all.