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Thread: Boutique project sold out in 2 hours

  1. #1
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    Default Boutique project sold out in 2 hours

    http://www.straitstimes.com/Money/St...ry_624014.html

    Jan 14, 2011

    Boutique project sold out in 2 hours


    A BOUTIQUE development in Holland Road has sold out within two hours of a private preview.

    [email protected], a project by small-format homes specialist Oxley Holdings, saw all 41 apartment units taken up yesterday.

    As there were more buyers than homes on offer, balloting was conducted for all but two units.

    On average, there were about three buyers for each unit.

    Prices ranged from $1,630 per square foot (psf) to $2,166 psf.

    The buyers were mainly Singaporeans, Oxley said in a press release.

    Said its executive chairman and chief executive Ching Chiat Kwong: 'The market's overwhelming response to our latest projects is extremely encouraging. We see this as an affirmation of Oxley's unique selling proposition.'

    Located at 151 Holland Road, the five-storey development comprises 37 one-bedroom units, ranging from 323 sq ft to 484 sq ft.

    There are also four two-bedroom penthouses with private jacuzzis, ranging from 980 sq ft to 1,141 sq ft.

    Communal facilities include a basement carpark, a swimming pool and a gymnasium.

    [email protected]'s successful sale underscored the developer's belief in strong demand from buyers for small-format apartments.

    Mr Ching had said earlier he was confident that these units, popularly known as shoebox apartments, would be well received as quantum prices will be affordable.

    The group has launched five other projects so far: [email protected], Parc Somme, [email protected], Viva Vista and RV Point.

    Shoebox flats tend to have low overall values - often under $1 million - but high prices on a psf basis.

    Sales of these flats - they are under 500 sq ft - have been steadily increasing since they hit the market in 2006.

    According to figures from property consultancy CB Richard Ellis, a total of 1,436 caveats were lodged for new shoebox units by mid-December last year, compared with 725 in 2009 and only 274 in 2008.

  2. #2
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    Any News on their other project Vibes @ Kovan? Also sold out within 2 hours ?

  3. #3
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    Default in BT today

    "PROPERTY groups continued to report deals yesterday. Oxley Holdings, which launched its [email protected] over the weekend, said that it has sold 22 out of the 36 residential units and three out of the five shop units available at the project.

    The 22 apartments, which range in size from 377 square feet to 1,001 sq ft, were sold for an average selling price of $1,255 per square foot (psf).
    The three shop units, which range from 269 sq ft to 312 sq ft, were sold for an average selling price of $2,400 psf."

    but according to bro devilplate, about half of the 36 units were already sold during preview. so after the official launch on saturday only sold a few miserable units?!?!?!


    Quote Originally Posted by DuffyDuck
    Any News on their other project Vibes @ Kovan? Also sold out within 2 hours ?

  4. #4
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    $2400/sqft for the shophouse


    Wonder how Space @ Kovan is doing .... Don't tell me they sold off all their unit during VVIP preview hahahahhaha

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    Quote Originally Posted by DuffyDuck
    $2400/sqft for the shophouse


    Wonder how Space @ Kovan is doing .... Don't tell me they sold off all their unit during VVIP preview hahahahhaha
    space abt 90% sold...left shophse and PHs and a few 2bedders

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