http://www.straitstimes.com/archive/...-move-20140919

'Bring your suitcase and move in'

30 Interlace units for sale come furnished and decorated

Published on Sep 19, 2014 1:07 AM


CapitaLand Residential Singapore chief Wong Heang Fine in one of the furnished units at The Interlace. -- ST PHOTO: AZIZ HUSSIN

By Jacqueline Woo

CAPITALAND has given 30 units at its The Interlace condominium in Alexandra a plush makeover in a move to attract buyers keen to avoid the hassle of furnishing their new home.

Foreign and local interior design firms were let loose in the apartments, decking them out with furniture and paintings in five themes, including minimalist and a classic European style.

They will be available for an additional sum, ranging from $100,000 to $180,000, over the basic selling price, depending on the design and size of the unit.

Mr Wong Heang Fine, chief executive of CapitaLand Residential Singapore, told The Straits Times yesterday that buyers would only have to fork out about half the cost of the decorations and design.

The 30 apartments that have been done up under the designer series vary from three-bedroom-plus-family-room to four- bedroom multi-generation units at prices starting from $2.8 million. The unit sizes range from 1,873 sq ft to 5,608 sq ft.

The average price for units at The Interlace from January is about $1,247 per sq ft, according to data from Realis.

All home buyers have to do is "bring their suitcases and move in", said Mr Wong, who added that the homes could appeal to buyers with "more disposable income and less personal time", as well as foreigners who may be unfamiliar with design and furnishing processes here.

"When we buy a property, we're actually buying a dream home," he noted.

"But it can be very challenging and time-consuming when it comes to fitting out your house and making sure it looks and feels like a dream home."

The five design themes are aimed at catering to "different lifestyle aspirations and decor preferences", said Mr Wong.

"They can also offer other potential buyers some ideas of how space at our units can be maximised and utilised in a creative and aesthetically pleasing manner."

About 83 per cent of the sprawling 1,040-unit development had been sold by the end of August.

Mr Wong added that the designer series was not a strategy introduced in response to the slowing property market, but he noted that CapitaLand will have to continue to grapple with the downtrend at least until the end of the year.

"There are still buyers out there," he said. "It just means that there are now more conditions they have to adhere to.

"And, as a developer, we have to funnel the buyers, such as by focusing a development for certain market segments where there is genuine demand."

Mr Wong said CapitaLand may extend the designer series to its other projects as well, such as d'Leedon in Bukit Timah, if market response is good.

"It also depends on whether the development has a variety of unit layouts and attributes that will allow us to play around with," he said.

The 30 fully-furnished units are available for viewing. Knight Frank and ERA Realty are the agents for the units.

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