This week saw high sales turnover rates for a number of condo projects.

Frasers Centrepoint sold 302 of its 330 units at the Woodleigh Close project. The units were sold at $790 per sq ft on average. According to Lim Ee Seng, chief executive of the company, majority of the buyers were Singaporeans and only 3 percent were foreigners and permanent residents.  

Seng was surprised by the strong demand, which he attributed to the improvement of the market sentiments and competitive, project-specific attributes. He said that the strategic location and affordability were the major selling points of the condo. The 99-year leasehold property was located near Potong Pasir MRT station and the future Woodleigh MRT station in the North-East Line. The developer slightly reduced the size of its bigger units. With these adjustments, it was able to add 30 more units.

About 60 percent of the units were allotted for studios and two-bedder spaces. The price per square foot for one-bedders was quite higher, ranging from $930 to $1,070. Nevertheless, buyers were lured by the absolute price of smaller units at $370,000 to $440,000. Speculative investors also showed interest to the property, which was situated near the Stamford American International School.

Parc Seabreeze in Marine Parade sold 50 units from 1,050 psf to $1,550 psf, down from the $1,600-$1,700 price range during the preview of the condo in May 2008.

It was not only the mass-market sector that was doing well but the upper-mid market as well. The 152-unit One Devonshire sold more than 85 percent of its units at $1,800 psf on average.