Gambir Ridge units 90% sold at preview

[reporter2]

http://www.businesstimes.com.sg/prem...eview-20120922

Published September 22, 2012

Gambir Ridge units 90% sold at preview

By jasmine ng


ABOUT 70 of the 77 units at Gambir Ridge, a freehold condominium at Bartley Road, were snapped up at its preview yesterday.

The project is by Meadows Investment, a subsidiary of property and construction group TA Corporation.

TA Corp, which was listed on the Singapore Exchange late last year, said the units were selling at above $1,400 per square foot. They comprise a mix of one- to four-bedroom units.

The 77-unit project consists of two blocks of five-storey residential units and a basement car park.

Apartment sizes range from 570 to 732 square feet (sq ft) for a one-bedroom unit; about 710 to 1,130 sq ft for a two-bedder; between 915 and 1,119 sq ft for a three-bedroom; and about 1216 to 1,442 sq ft for a four-bedder. Penthouse units are between 1,119 and 1,938 sq ft.

"We are deeply encouraged by the overwhelming response to our preview, which attests to our confidence that Gambir Ridge is an attractively priced development," said TA chief executive Neo Tiam Boon.

"It sits in an excellent location, being near retail and dining options, as well as in close proximity to public transportation nodes and quality education," he added.

Located at Gambir Walk, the development is near Bartley and Woodleigh MRT stations.

It is also close to Nex Mall, Heartland Mall and myVillage (formerly Serangoon Garden Village).

Facilities at Gambir Ridge include barbecue terraces, a rooftop lap pool, a jacuzzi and a gym. The development is expected to obtain its temporary occupation permit by December 2015.

Gambir Ridge is TA Corp's second property project to reach the market this year, after the 74-unit freehold development The Cristallo at Telok Kurau, launched in March.

[DC33_2008]

Amazing with all this project starting to sell even before infrastructure commences at bidadari.

[carbuncle]

it's called get in early

[DC33_2008]

it's called get in early

Has been calling people to.invest here mlre than three years ago.

[phantom_opera]

the units were sold at an average selling price of S$1,400 psf, said TA Corporation, the parent company of developer Meadows Investment.

=> buy on rumors sell on facts But hoh, dun suay suay kena recession in between, could delay for 10y

[Leeds]

Few years ago, I went to view a show flat in D16 during its launched. The marketing agent marked out almost 90% of the units as sold.

When I showed a lot more interest in the units that had been marked "sold", the agent actually told me that there was still a chance to buy that unit. She did not said the reason. The project was almost fully sold.

Two years later when the market began to pick up again, I visited the same show flat and now only about 70% sold. Even the unit I wanted was still available.

I am not sure does this marketing strategy during launch or pre-launch still stand in today's market?

[leesg123]

Few years ago, I went to view a show flat in D16 during its launched. The marketing agent marked out almost 90% of the units as sold.

When I showed a lot more interest in the units that had been marked "sold", the agent actually told me that there was still a chance to buy that unit. She did not said the reason. The project was almost fully sold.

Two years later when the market began to pick up again, I visited the same show flat and now only about 70% sold. Even the unit I wanted was still available.

I am not sure does this marketing strategy during launch or pre-launch still stand in today's market?

Very easy, check ura lor, for the number of unsold units.

[kane]

Oh maybe this explains the reserved stickers I am seeing in some projects.

[Leeds]

There is nothing to stop agent or developers to indicate sold or reserved to create the effect. In a good market, slow moving projects would likely to benefit from such tactic and motivate boyers to make the purchase decision on the spot.

Come the following month when developers need to report sale figures to URA, they actually already had the number of sales through such tactic. If there is no real sale the following month, buyers would just feel "cheated" but cannot do much as this is not part of the sale contract.