24-05-2011, 07:15 AM
May 24, 2011
More than 150 units of Terrasse condo sold
By Esther Teo, Property Reporter
ENCOURAGING home sales continued over the weekend with MCL Land's Terrasse in Hougang finding buyers for more than 150 apartments.
The homes at the 414-unit project in Hougang Avenue 2, whose preview started on Saturday, were sold at an average price of $950 per sq ft (psf).
The 99-year leasehold project has homes ranging from 506 sq ft one-bedders to five-bedroom penthouses of about 2,210 sq ft. Ground-level garden duplexes have yet to be released.
The Straits Times understands that a one-bedder will start from $580,000 while a five-bedroom penthouse will start from $1.85 million.
All unit types received even interest, with 90 per cent of the buyers locals and permanent residents. The rest were foreigners from countries including Malaysia and China.
Far East Organization also saw 30 units across its properties snapped up by home buyers last week, excluding sales at Eight Courtyards in Yishun.
Its Waterfront collection in Bedok Reservoir - Waterfront Isle, Waterfront Key and Waterfront Gold - sold 15 units in total while The Greenwood and Suncottages sold two units each.
Woodhaven in Woodlands and Seastrand in Pasir Ris will start sales in the first and second half of next month respectively, The Straits Times understands. Online marketing material suggests Seastrand prices will start from $850 psf. Woodhaven's average price will range from $900 to $1,000 psf. These prices do not factor in any possible early bird preview discounts.
On the public housing front, this year's first executive condo launch, Belysa in Pasir Ris, had attracted 520 e-applications as of 8.30pm yesterday. This is about 1.7 times the number of units in the 315-unit project at the junction of Pasir Ris Drive 1 and Elias Road, which experts say is a healthy figure.
Belysa - illumination in Swedish - will offer only three- and four-bedroom apartments to cater to three-generational living. Priced at an average of $670 psf, the indicative price of an 829 sq ft three-bedder starts from $574,000 while a 1,335 sq ft four-bedder starts from $882,000. Sales bookings for units will start tomorrow.
Experts say buying interest is still healthy for projects that are reasonably priced and in a good location.
PropNex chief executive Mohamed Ismail said buyers have begun to accept that prices - especially in mature estates, even in suburban areas - can be about $1,000 psf. 'This demand is coming from owner-occupiers and mid- to long-term investors... There is also a good number of HDB upgraders in the market,' he added.
More than 150 units of Terrasse condo sold
By Esther Teo, Property Reporter
ENCOURAGING home sales continued over the weekend with MCL Land's Terrasse in Hougang finding buyers for more than 150 apartments.
The homes at the 414-unit project in Hougang Avenue 2, whose preview started on Saturday, were sold at an average price of $950 per sq ft (psf).
The 99-year leasehold project has homes ranging from 506 sq ft one-bedders to five-bedroom penthouses of about 2,210 sq ft. Ground-level garden duplexes have yet to be released.
The Straits Times understands that a one-bedder will start from $580,000 while a five-bedroom penthouse will start from $1.85 million.
All unit types received even interest, with 90 per cent of the buyers locals and permanent residents. The rest were foreigners from countries including Malaysia and China.
Far East Organization also saw 30 units across its properties snapped up by home buyers last week, excluding sales at Eight Courtyards in Yishun.
Its Waterfront collection in Bedok Reservoir - Waterfront Isle, Waterfront Key and Waterfront Gold - sold 15 units in total while The Greenwood and Suncottages sold two units each.
Woodhaven in Woodlands and Seastrand in Pasir Ris will start sales in the first and second half of next month respectively, The Straits Times understands. Online marketing material suggests Seastrand prices will start from $850 psf. Woodhaven's average price will range from $900 to $1,000 psf. These prices do not factor in any possible early bird preview discounts.
On the public housing front, this year's first executive condo launch, Belysa in Pasir Ris, had attracted 520 e-applications as of 8.30pm yesterday. This is about 1.7 times the number of units in the 315-unit project at the junction of Pasir Ris Drive 1 and Elias Road, which experts say is a healthy figure.
Belysa - illumination in Swedish - will offer only three- and four-bedroom apartments to cater to three-generational living. Priced at an average of $670 psf, the indicative price of an 829 sq ft three-bedder starts from $574,000 while a 1,335 sq ft four-bedder starts from $882,000. Sales bookings for units will start tomorrow.
Experts say buying interest is still healthy for projects that are reasonably priced and in a good location.
PropNex chief executive Mohamed Ismail said buyers have begun to accept that prices - especially in mature estates, even in suburban areas - can be about $1,000 psf. 'This demand is coming from owner-occupiers and mid- to long-term investors... There is also a good number of HDB upgraders in the market,' he added.