New units in public and private projects snapped up

[reporter2]

http://www.straitstimes.com/Money/St...ry_793481.html

New units in public and private projects snapped up

Keen interest in Seahill in the west, 1 Canberra in Yishun, Pasir Ris One

Published on Apr 28, 2012


Artist's impression of Seahill condo, a 99-year leasehold project in West Coast Link which sold more than 80 units on the first day of its preview. -- PHOTO: FAR EAST ORGANIZATION

By Amanda Tan


BUYERS snapped up new units from a range of public and private projects yesterday.

Far East Organisation's Seahill condo sold more than 80 units out of the 120 released - its first day of preview.

The units at the 99-year leasehold project in West Coast Link went for an average of $1,300 per sq ft.

Prices for a 495 sq ft, one-bedroom Soho apartment start from about $650,000.

Far East said 85 per cent of home buyers are Singaporeans, with most living around the west.

The 338-unit condo has one- to three bedders, Soho (small office, home office) apartments and townhouses. A full service apartment block will also be built within the development.

Seahill, which launches on Tuesday, will be the first residential and hospitality development in the area.

The condo is also among the last few projects to have strata-landed homes that foreigners can buy.

A new rule this month prohibits strata landed homes to be built in condos.

However, they can continue to buy strata-landed homes in existing condos and in upcoming projects such as Seahill.

The executive condominium 1 Canberra was launched in Yishun yesterday, with nearly 200 potential buyers making e-applications for a ballot slip by 8.30pm.

A standard three-bedder is likely to cost between $680,000 and $880,000. A four-bedder is about $860,000 to $970,000.

Pasir Ris One, believed to be the last project under the Design, Build and Sell Scheme (DBSS), had recorded more than 100 e-applications by 5.30pm. Most of the potential buyers are from Pasir Ris and the surrounding areas, said project director Chan Tung Moe, who is also executive director of SingXpress Land.

The DBSS is developed by his company and Kay Lim Holdings.

'Most first-time buyers were in the 25- to 33-year age group and interested second-time buyers were couples above 35, who have young families,' he said.

Top prices for a five-bedroom flat at the 447-unit development are about $681.

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[DC33_2008]

Next CM coming

[carbuncle]

CMCMCMCMCMCMCMCM

[samuelk]

This is madness.

I guess we have to wait out for those that is waiting to get back into the market.

[789]

Heard from my banker that there are news floating around that further cooling measures are coming.

If you are not a first timer, you probably should wait. If you already holding multiple property and looking to buy new launch, I think you should do it sooner rather than later.

[land118]

Heard from my banker that there are news floating around that further cooling measures are coming.

....If you already holding multiple property and looking to buy new launch, I think you should do it sooner rather than later.

perhaps, that's why investors with multiple properties are plunging in b4 more CMs...

[789]

perhaps, that's why investors with multiple properties are plunging in b4 more CMs...

yes, with new CMs, there is a good chance that this group of investors will potentially have to pump in more cash or even pay more stamp duties.