Prospective buyers looking at a model of Wandervale. (Photo: Sim Lian Group)
The Wandervale executive condominium (EC) by Sim Lian Group has received more than 400 e-applications since its launch on Thursday (18 Feb), sources told PropertyGuru.
This figure accounts for more than 75 percent of the 534 units at the 99-year leasehold project, which sits on a large land parcel measuring about 205,138 sq ft.
Crowds were seen streaming into the showflat located at Choa Chu Kang Avenue 3 when PropertyGuru visited the site on Sunday afternoon (21 Feb).
The EC consists of 130 three-bedroom, 322 three-bedroom premium, and 82 four-bedroom units, ranging from 958 sq ft to 1,249 sq ft, across nine residential blocks.
Wandervale is within proximity to the Choa Chu Kang MRT station and bus interchange, Bukit Panjang MRT station on the newly opened Downtown Line 2 (DTL2), Lot One Shoppers’ Mall, and South View Primary School. The project is expected to obtain its TOP by 2019.
Jointly marketed by OrangeTee and ERA, the project is priced at approximately $750 psf to $770 psf on average. The actual prices of the units will be released two days before the sales booking, which starts on 5 March.
PropertyGuru understands that the larger three-bedroom premium and four-bedroom units were more popular with buyers.
According to Doris Ong, ERA’s Chief Operating Officer, the response has been better than expected.
“We’ve seen a good level of interest from first-time buyers and HDB upgraders living nearby, as well as those working in this part of Singapore.”
She noted that the spacious layout of the units is a key selling point.
Calvin Fobrogo, a prospective buyer, said he was drawn to the project’s location and price, and was considering upgrading from a five-room HDB flat and moving his family into a four-bedroom unit.
“This EC is near my house and the price is lower than the Sol Acres EC,” noted the 39-year-old engineer.
A recent Credit Suisse report revealed that MCL Land’s Sol Acres project in Choa Chu Kang has sold 28 percent of its 1,327 units at an average price of $800 psf.
Notably, HDB upgraders have to pay a resale levy of up to $50,000 for EC units bought directly from a developer, where the land sale was launched on or after 9 December 2013, when the ruling took effect.
More Singaporean couples are now eligible to buy ECs after the income ceiling cap was raised to $14,000 in August 2015. First-time buyers are also eligible for CPF Housing Grants of up to $30,000.