CDL recorded healthy sales were despite the new property cooling measures, and CDL’s residual inventory of residential properties reached 292 units in the third quarter of 2018. Artist’s impression of the condo gym at Whistler Grand.
Whistler Grand, a 716-unit condominium in West Coast Vale in District 5, has found buyers for 251 units or 83 percent of the 300 units released for sale, according to latest data from the Urban Redevelopment Authority (URA).
The units at Whistler Grand were moved at an average selling price of around $1,359 psf, figures show.
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Another project by CDL, the 190-unit South Beach Residences in the vibrant Beach Road area, moved 30 units (60 percent) out of the 50 units launched at an average selling price of about $3,359 psf.
“Take-ups in Whistler Grand and South Beach Residences have been healthy,” said Krishna Guha, an equity analyst at Jefferies Singapore.
Meanwhile, The Jovell, a 428-unit condominium along Flora Drive in District 17, sold 58 units (23.2 percent) out of the 250 units launched for sale at an average selling price of $1,290 psf.
The solid sales were achieved despite the new property cooling measures, and CDL’s residual inventory of residential properties reached 292 units in the third quarter of 2018.
During the quarter, CDL’s launch pipeline hit 3,360 units due to its aggressive land purchases in the previous property market cycle, noted Guha.
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Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
