Sales had been brisk with the Treasure Reputation executive condo (EC) showflat over the weekend with nearly seventy two per cent for the units purchased.
Developer Sim Lian Group said 362 out of the 504 homes on the project in Anchorvale New-moon found customers over the 2 days, with all 56 four-bedroom gadgets selling away. It stated in a assertion that most of this buyers live in the north-east region, punggol mainly, Hougang and Sengkang.
Sim Lian noted that about sixty two per cent of this units distributed were arranged by new buyers along with the rest bought by HDB upgraders. As the sales sum was healthy and balanced, it was nonetheless well under the number exactly who expressed curiosity during a 10-day e-application period that finished on Come july 1st 10. The project was more than installment payments on your 1 situations subscribed with 1, 077 e-applications stuck.
Treasure Reputation comprises 84 three-bedroom gadgets, 364 advanced three-bedders as well as the four-bedders throughout eight 15-storey towers with flat sizes ranging from 958 to 1, 345 sq feet. The task is anticipated to receive their temporary job permit simply by 2019.
The common price is $742 per sq ft (psf). Sim Lian said a three-bedroom device has a beginning price of $677, 500 ($707 psf), while three-bedroom premium gadgets start from $735, 000 ($683 psf). The 99-year leasehold project can be near Sengkang MRT rail station and has got amenities for instance a heated drop pool and jacuzzi belvedere spa.
It truly is Sim Lian’s second EC launch this season, following the Wandervale EC, in February which in turn hit the market. The developer stated 75 % of the 534 units for Wandervale in Choa Chu Kang may be sold.
Three other EC projects released this year — The Visionaire and Paturage Life in Sembawang and Northwave in Woodlands — all currently have a large number of unsold units. Despite the strong sales at Treasure Crest, analysts expect demand for ECs will continue to hinge on location and pricing.
Consultants noted that it would be a mistake to look at the sales and say it is a reflection of the market. EC sales will be project-specific based on the price and locational attributes still.
One of them said that the pricing of Treasure Crest could also weigh on competing projects nearby. Developers in that vicinity would have to reference this as a new point. Sim Lian’s remaining 140 over units, they will still competitively be priced, and if you have unsold stock, there would be some pressure.
He cited three EC projects that may be affected: The Vales in Anchorvale Crescent, The Terrace in Edgedale Plains and Waterwoods in Punggol Field Walk.