New condo sales pick up pace

Romesh NavaratnarajahApril 15, 2015

Botanique crowds

Despite a sluggish property market, two recently launched condominium projects have been warmly received by home buyers.

Frasers Centrepoint Limited (FCL) sold another 100 apartments at the 920-unit North Park Residences in Yishun over the past weekend, with prices ranging from $618,000 for a studio to $1.89 million for a five-bedroom vista unit.

On top of the 313 units taken up during the soft launch in the weekend before, the developer has moved a total of 413 units or 70 percent of the 600 units released so far.

“We are encouraged that buyers have registered confidence in this development,” said Elson Poo, FCL’s General Manager for Sales and Marketing.

Expected to complete by 2020, North Park Residences is part of the upcoming Northpoint City, an integrated development comprising 500 retail and F&B shops, an integrated transport hub and Singapore’s first community club within a shopping mall.

Another condominium reporting healthy sales is UOL Group’s Botanique at Bartley, which sold 50 units over the weekend. So far, more than 200 of the 360 units initially released have found buyers. Of this, 81 percent were snapped up by Singaporeans with the most popular units being the two-bedders.

“The strong performances of selected project launches, including Botanique at Bartley, show that there is still strong underlying demand in the residential market,” said Anthony Wong, General Manager for Marketing at UOL.

“Nowadays, buyers are very selective. Hence, we believe they saw UOL’s strong product offerings in terms of the MRT connectivity and good schools nearby. At an average price point of $1,290 psf, our specifications of natural marble, American oakwood and branded appliances are definitely good value,” he added.

The 797-unit development comprises 200 one-bedrooms, 382 two-bedrooms and 215 three-bedrooms, priced from around $598,000, $798,000 and $1.16 million respectively.

Image: Crowds at the Botanique at Bartley showflat. (Photo by UOL) 

 

Romesh Navaratnarajah, Singapore Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg

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