250 or 43% of the 99-year leasehold 582-unit Urban Vista condominium project located at the junction of New Upper Changi Road and Tanah Merah Kechil Link has sold been at an average of $1,350 psf after a 7% discount. Units sold were mostly one- to three-bedroom units. There are 135 one-bedroom units, 249 two-bedroom units, 160 three-bedroom units and 37 four-bedroom units. Prices start from $588,000, $768,000, $1.1 million and $1.5 million for one-bedroom units (average area of 450 sq ft), two-bedroom units (average of 600 sq ft); three-bedroom units (average of 900 sq ft) and four-bedroom units (average of 1,050 sq ft), respectively. The take-up rate reflect genuine demand though had there not been the latest round of cooling measures, the developer could have sold even more units at a price of more than $1,400 psf.
(Source: Business Times)
What do the above sales at Urban Vista mean?
1) Properties at good locations, in the above case Urban Vista, always command better prices and greater demand. Urban Vista is located near Changi Business Park and Changi Airport, upping its convenience ante for expatriates and renters.
2) The cooling measures won't have much impact on properties in good locations.
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99-year D’Nest sells 500 of 650 released units
99-year leasehold 912-unit D’Nest at Pasir Ris Grove near Pasir Ris MRT station and White Sands shopping mall has sold 500 of its 650 released units at an average price of $990 psf or $920 psf after discount. It has since increased by 2%. It consists of one-to-four bedroom units, five-bedroom dual key units and 10 dual-key penthouses with five or six bedrooms in 12 blocks of 11- to 13-storey and three clubhouses sitting on a 444,284 sq ft site. Prices start at $498,000, $680,000, $820,000 and $1.15 million for one-bedroom, two-bedroom, three-bedroom and four-bedroom units respectively. More units of each type have been progressively released in response to the strong demand. 80% of the buyers are Singaporeans, with remaining being foreigners and PRs largely from Malaysia, China, and Indonesia.
(Source: Business Times)
What do the above sales at D'Nest mean?
Sub-$1000 psf units are still much welcomed by buyers. As much as possible, developers will try to price units lower than this, especially in far out mass market locations
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HDB launches 3,898 BTO flats in non-mature estates
3,900 BTO flats have been launched in four projects three non-mature towns: Bukit Batok, Punggol and Sengkang.
SkyPeak @ Bukit Batok located between Bukit Batok Street 21 and Bukit Batok East Avenue 6 offers 1,430 units of two-room to five-room flats with prices starting from $117,000 to $411,000.
Matilda Portico bounded by Punggol Field and Punggol Way comprises 470 four-room and five-room flats with prices starting from $294,000.
Compassvale Cape located along Compassvale Crescent near Cheng Lim LRT station offers 1,400 flats including studio apartments as well as three-room to five-room flats. Prices start from $88,000 for a studio apartment and $189,000 for a three-room unit.
Compassvale Helm, located between Compassvale Bow and Buangkok Drive, near Buangkok MRT Station. It has 598 flats comprising studio apartments, as well as four-room and five-room units. Prices start at $88,000 for studio apartments, and $304,000 for a four-room flat.
Most projects are expected to have application rates of two to three. Compassvale Helm, however, is expected to have application rates of three to four given its proximity to several schools, the MRT station and other amenities.
