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Thread: Interest in private projects wanes

  1. #1
    Join Date
    Sep 2008
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    Default Interest in private projects wanes

    BUYERS seemed keen on private projects a couple of weeks ago but the interest has dimmed, going by the lacklustre results over the weekend.

    Projects that posted brisk sales at their debuts two weeks ago had been relying mainly on price cuts to move units, said consultants.

    Only a fraction of units was sold at the 181-unit Clermont Residence in Tanjong Pagar when it opened for private preview last Saturday.

    "More than 10" units at the project were moved at an average price of slightly over $3,000 per sq ft over the past weekend, said Ms Felicia Ang, an executive director at marketing agent Savills.

    Developer Guocoland said yesterday that the 99-year leasehold project was meant to be a "trophy piece of real estate". Clermont Residence will likely be Singapore's tallest residential project with a height of 290m once completed in 2016.

    The project boasts a 21,000 sq ft "super penthouse" said to have an indicative price of around $30 million.

    The other units range from 614 sq ft one-bedders to 2,034 sq ft four-bedroom units. There are also penthouses of 3,509 sq ft.

    PropNex chief executive Mohamed Ismail said only projects that were priced relatively cheaply have sold well in recent months since many buyers are increasingly cost-conscious.

    SingLand's 99-year leasehold Alex Residences in Redhill moved several more units over the weekend, though the initial buzz surrounding the project has tailed off.

    Mr Michael Ng, group manager of SingLand's parent company UIC, said yesterday that just over 20 units were sold over the weekend at an average price of $1,680 psf.

    This price was slightly higher than the average $1,650 psf posted when the project opened for preview two weeks ago. That day, buyers snapped up 150 units in one afternoon.

    The 660-unit Duo Residences in Bugis can thank relatively attractive prices rather than buoyant market sentiment for its strong launch showing, said Century 21 chief executive Ku Swee Yong. The selling price was about $2,000 psf on average.

    The 99-year leasehold project by M+S sold 87 per cent of the 540 units released over three days at its launch two weeks ago.

    M+S declined to comment on sales figures over the past weekend.

  2. #2
    Join Date
    Nov 2011
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    789

    Default

    High end project is for foreigners, all high and dry, it will be shocking if sales are brisk, since there is excess supply, and facts are many have turn towards 2nd or 3rd tier properties..

  3. #3
    Join Date
    Jan 2013
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    342

    Default

    Alex Residences

    Condo Name = SUCKS

    Unit Size = SUCKS

    Noisy Location = SUCKS

    Overall SUPER CRAP

  4. #4
    Join Date
    Oct 2011
    Posts
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    Default Interest in private projects wanes

    http://www.straitstimes.com/premium/...wanes-20131126

    WEEKEND SALES

    Interest in private projects wanes

    Earlier brisk sales due mainly to price cuts, say consultants

    Published on Nov 26, 2013

    By Melissa Tan


    BUYERS seemed keen on private projects a couple of weeks ago but the interest has dimmed, going by the lacklustre results over the weekend.

    Projects that posted brisk sales at their debuts two weeks ago had been relying mainly on price cuts to move units, said consultants.

    Only a fraction of units was sold at the 181-unit Clermont Residence in Tanjong Pagar when it opened for private preview last Saturday.

    "More than 10" units at the project were moved at an average price of slightly over $3,000 per sq ft over the past weekend, said Ms Felicia Ang, an executive director at marketing agent Savills.

    Developer Guocoland said yesterday that the 99-year leasehold project was meant to be a "trophy piece of real estate". Clermont Residence will likely be Singapore's tallest residential project with a height of 290m once completed in 2016.

    The project boasts a 21,000 sq ft "super penthouse" said to have an indicative price of around $30 million.

    The other units range from 614 sq ft one-bedders to 2,034 sq ft four-bedroom units. There are also penthouses of 3,509 sq ft.

    PropNex chief executive Mohamed Ismail said only projects that were priced relatively cheaply have sold well in recent months since many buyers are increasingly cost-conscious.

    SingLand's 99-year leasehold Alex Residences in Redhill moved several more units over the weekend, though the initial buzz surrounding the project has tailed off.

    Mr Michael Ng, group manager of SingLand's parent company UIC, said yesterday that just over 20 units were sold over the weekend at an average price of $1,680 psf.

    This price was slightly higher than the average $1,650 psf posted when the project opened for preview two weeks ago. That day, buyers snapped up 150 units in one afternoon.

    The 660-unit Duo Residences in Bugis can thank relatively attractive prices rather than buoyant market sentiment for its strong launch showing, said Century 21 chief executive Ku Swee Yong. The selling price was about $2,000 psf on average.

    The 99-year leasehold project by M+S sold 87 per cent of the 540 units released over three days at its launch two weeks ago.

    M+S declined to comment on sales figures over the past weekend.

    [email protected]

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