http://www.businesstimes.com.sg/sub/...87140,00.html?
Published November 15, 2011
Two-thirds of previewed Palette units snapped up
Sim Lian also sells about 200 of 240 units at Parc Vera since Oct28 launch
By MICHELLE TAN
(SINGAPORE) The Palette residential development at Pasir Ris Grove saw a brisk take-up of 200 units at its preview launch last weekend.
Price range and layouts: The average selling price of the 892-unit Palette was in the range of $870 per square foot. Unit layouts in the 12-block residential development range from one-bedders to four-bedders. The project also has 10 penthouses
City Developments Ltd (CDL) released a total of 300 units in the 99-year-leasehold development at the preview.
The average selling price of the 892-unit residential project, located within walking distance to Pasir Ris MRT Station, was in the range of $870 per square foot, with prices beginning at $561,000 for a 495-sq-ft one-bedder on a low floor and $1.8 million for a 2,217-sq-ft penthouse.
Unit layouts in the 12-block project range from one-bedders (up to 700 sq ft) to four-bedders (up to 1,798 sq ft).
The residential development also has a total of 10 penthouses (from 2,217 sq ft to 2,562 sq ft), of which all four units launched last weekend have already been taken up.
Warm responses have also been noted in other project launches located primarily in the heartland regions.
Notably, Sim Lian's 99-year-leasehold residential project, Parc Vera, has met with keen interest from local buyers and has sold about 200 out of 240 units since its launch on Oct 28 at an average price of $800 per sq ft.
Located along Hougang Avenue 7, the 452-unit development is also close to recreational sites such as the Serangoon Park Connector and Punggol Park.
According to a property consultant, most of the buyers of Parc Vera already reside in the North-Eastern part of Singapore, with many citing proximity to their parents' homes as a priority.
Despite concerns that residential prices are near a top, head of Residential at Knight Frank, Wendy Tang, continues to expect healthy sales in the heartland regions on the back of 'real demand from local buyers'.
Concurring with her view, Global Property Strategic Alliance CEO Jeffrey Hong expects 'healthy pick-up rates' going forward as HDB prices continue to soar, narrowing the price differential between public and private homes.
Going into the month of Christmas, developers are rushing to dish out a final spread of new launches before the year's end to tap the buying momentum and capitalise on the festive spending mood of buyers.
According to agents, CapitaLand is tentatively set to launch its 99-year-leasehold development, Bedok Residences, as early as this week.
Expected to draw a fair bit of attention due to its prime location and proximity to Bedok MRT Station, the 583-unit project will form part of CapitaLand's plan to transform the Bedok Bus Interchange and the land surrounding it into a 15-storey mixed development comprising residential and retail components.
Other projects expected to be launched in December include a 400 plus-unit residential project in Sembawang by MCC Land and a 577-unit development by UOL and SingLand by Bedok Reservoir.
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