By Shabnam Muzammil:
Jade Residences (pictured) recorded fast deals, with almost 60 units taken up on the first day of sales last week, reported The Straits Times.
According to Teo Hong Lim, Executive Chairman at Roxy-Pacific Holdings, the five-storey freehold condo will feature 171 apartments and two shop units. Of these, 80 apartment units were released so far at an average price of S$1,416 psf, after discounts.
Located near Serangoon MRT, the development offers two- to four-bedroom units and penthouses. A 527sq ft two-bedroom apartment is priced at S$845,000 while a 1,927 sq ft-duplex, four-bedroom penthouse goes for S$2.65 million. The two, 215sq ft shop units will likely cost below S$1 million each.
Teo said the project appealed mostly to “local buyers, predominantly first-timers and second-timers.”
“Previously we used to see those investing in their third or subsequent property, but following the latest January 2013 cooling measures the incidence of such buyers is much lower.”
Moving forward, Roxy-Pacific will also launch its new 121-unit Whitehaven condo along Pasir Panjang Road. The five-storey, freehold project will likely be priced around S$1,400 psf on average, noted Teo.
Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@propertyguru.com.sg
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