8 Courtyards 72% sold, more launches to follow

8 Coutyards @ Yishun, a joint venture (JV) project between Far East Organization (FEO) and Frasers Centrepoint, sold 202 of the 280 units (approximately 72%) released during its preview, with an average price of S$795 psf.

The development comprises two retail shops and 654 residential units spread across 12 towers, which are between 14 and 15 storeys high.

8 Courtyards, which is expected to be officially launched on April 22, is an affordable low-quantum project with an average selling price of S$800 psf.

Nelson Tan, property specialist at Dennis Wee Group (DWG), said the project’s unique selling point is its location at Yishun Ave, which is a “quiet, green setting in the northern part of Singapore”.

During the project’s preview over the weekend, Frasers Centrepoint noted that 63 percent of the buyers were HDB upgraders. Among the most popular were two-, three- and four-bedroom units, with the one-bedroom units fully sold.

Meanwhile, Fission Capital’s Centra Heights at the Central Business District (CBD) was launched today, while 10 Shelford at Shelford Road will hold its preview on 22 April before its official launch on 29 April.

According to experts, these new projects are expected to benefit from the still favourable market, which has prompted many property launches since late 2010.

“Demand and sentiment are good. That’s why developers are snapping up land and developing quickly,” said Mark Lim at DWG. “I believe sales momentum (for new-launch condominiums) will pickup gradually, as long as there are no new major policy changes.”
 
Mr. Adrian Lim of Huttons Real Estate Group noted that Centra Heights offers a good rental yields, as its average selling price starts at S$500,000.

“Centra Heights is the next better alternative for expats who can't afford higher rentals in CBD areas.”

10 Shelford, on the other hand, comprises five-storey flats that offer excellent capital and superb rental yield. It is an exclusive freehold condo located in prime central District 11, said Candice Loh, Marketing Manager at Huttons Asia.

In addition, the upcoming Payar Lebar Central will lead to further capital appreciation and higher rental yields in the near future.

“With all the financial institutions and companies shifting here in future, you will definitely see an influx of foreigners and expats and an increase in rentals and prices of properties here,” said Mr. Lim.

Furthermore, Pinnacle Development is expected to launch Water Edge in Geylang on 25 April, while Oxley Rising’s Oxley BizHub at Ubi has been scheduled to launch on 26 April.