88 Waterfront Isle units sold at preview

[mr funny]

http://www.businesstimes.com.sg/sub/...24449,00.html?

Published February 2, 2011

88 Waterfront Isle units sold at preview


FAR East Organization and Frasers Centrepoint have sold 88 units in their 561-unit Waterfront Isle development in the Bedok Reservoir area over the last few days.


Feb5 launch: Far East said prices will start from $575,000 for a one-bedroom apartment, plus 5 per cent of the cost which will be returned to buyers in the form of furniture vouchers once the development obtains TOP in 2015

The developers released 132 units in the 99-year leasehold project at a preview which started on Jan 28. Of these units, 88 units (67 per cent) have been sold at an average price of $920 per square foot (psf).

Waterfront Isle will be officially launched on Feb 5, the third day of Chinese New Year.

Far East Organization, which is marketing the project, said prices will start from $575,000 for a one-bedroom apartment - excluding an additional 5 per cent cost which will be returned to buyers in the form of furniture vouchers once the development obtains its temporary occupation permit (TOP) in 2015.

Including the extra cost for the vouchers, prices at the project will start from $605,000.

Far East said that the furniture vouchers were being given to 'build a stronger base of long-term buyers'.

Waterfront Isle is the last project in the Waterfront Collection, a master-planned joint venture development between Far East and Frasers Centrepoint. The entire collection comprises four developments fronting Bedok Reservoir.

Units in the first three projects in this master-planned development are mostly sold. Waterfront Waves is 100 per cent sold, Waterfront Key is more than 85 per cent sold and Waterfront Gold is more than 75 per cent sold.

Singaporeans and permanent residents make up 80 per cent of the buyers of Waterfront Isle. About half of the buyers are residents now living in the east in estates such as Bedok and Tampines, Far East said.

[mr funny]

http://www.straitstimes.com/Money/St...ry_630760.html

Feb 2, 2011

88 units sold at Bedok preview

By Esther Teo, Property Reporter


THE preview of Waterfront Isle in Bedok Reservoir Road has found buyers for 88 units, despite talk that last month's cooling measures might dampen enthusiasm.

Prices at the preview, which started last Friday with 132 units up for grabs, have averaged $920 per sq ft (psf).

Waterfront Isle is being jointly developed by Far East Organization and Frasers Centrepoint, and consists of 561 units. It will be officially launched on Saturday.

About 80 per cent of the buyers are Singaporeans and permanent residents, with about half of them living in the east, in areas like Bedok and Tampines, said Far East.

Prices will start at $575,000 for a one-bedroom unit of 592 sq ft, while two-bedders from 915 sq ft will start at $820,000 at the official launch. The three-bedroom apartments of 1,163 sq ft will carry price tags starting from $996,000.

Four-bedroom apartments and penthouses will not be for sale at the launch.

Far East's chief operating officer of property sales Chia Boon Kuah said the good network of MRT and expressways, coupled with government plans to revamp regional centres, have created new value in precincts like Bedok Town Centre.

Experts said the project's close proximity to the upcoming Bedok Reservoir MRT station was also a plus.

Dennis Wee Group director Chris Koh said most buyers were probably genuine first-timers who might not be affected by the Jan 13 cooling measures.

'First-time buyers might have a longer-term perspective. They don't intend to flip, and so by the time the project is completed in about three or four years, some of the measures might have already been lifted,' he added.

The first three projects in the Waterfront collection in Bedok Reservoir Road have seen successful sales. Waterfront Waves is fully sold, Waterfront Key is more than 85 per cent sold, and Waterfront Gold is more than 75 per cent taken up.