Good response to Prive

[mr funny]

http://www.businesstimes.com.sg/sub/companies/story/0,4574,416563-1291838340,00.html?

Published December 8, 2010

Good response to Prive


PRIVe, the first executive condominium (EC) project to come up in Punggol, has attracted strong interest from home buyers.

The developers, NTUC Choice Homes Co-operative and Chip Eng Seng, received 1,011 applications for the 680 apartments available as at 8pm yesterday. Applications have closed and bookings will start on Friday.

The 99-year-leasehold development offers two to four-bedders across four 17-storey towers, and the average selling price will be between $660 and $690 per square foot (psf).

The developers are offering a deferred payment scheme, although buyers who opt for that will have to pay 2 per cent more.

DMG & Partners analyst Brandon Lee, who visited Prive's sales gallery over the weekend, said in a report that the turnout was buoyant. 'We thought overall pricing of $680 psf is reasonable, which equates to a slight 8 per cent premium over the $630 psf fetched by nearby completed ECs.'

Response to ECs launched this year has been moderate. When Frasers Centrepoint launched Esparina Residences, it received 1,155 applications for the 573 units available. Actual take-up was lower as some potential buyers could have backed out after their preferred units were sold. At MCC Land's The Canopy, around 450 applications had come in for the 406 units available.

[mr funny]

http://www.businesstimes.com.sg/sub/premiumstory/0,4574,417173-1292097540,00.html?

Published December 11, 2010

Over a third of Punggol's Prive snapped up

Other projects that are coming to market include Austville Residences, Spottiswoode 18 and Killiney 118

By EMILYN YAP


CHRISTMAS came early for NTUC Choice Homes Co-operative and Chip Eng Seng yesterday as home buyers inked deals for more than a third of the 680 apartments at their executive condominium project, Prive.

As at 5pm, the developers had processed over 270 sales options and said that they were clearing more. They declined to give an estimate of the total number of units that could be sold.

Balloting for units at the 99-year leasehold Prive at Punggol began yesterday. As many as 1,036 applications had poured in by the end of Tuesday, reflecting strong interest for the project.

Prive is the first EC to come up in Punggol and the developers had said earlier that the average selling price of units would be between $660 per square foot and $690 psf. Buyers can opt for a deferred payment scheme, but they will have to pay 2 per cent more.

Another EC launch will be coming up soon. United Engineers could be rolling out Austville Residences between Sengkang East Avenue and Buangkok Drive either this month or next.

BT understands that the selling price might start from $620 psf. The developer is planning to give out branded fridges to early buyers and hold a lucky draw with return air tickets to Australia as prizes.

Some agents are gathering interest for the freehold Spottiswoode 18, which will come up on the site of the former Dragon Mansion near Tanjong Pagar.

Roxy-Pacific Holdings had bought Dragon Mansion en bloc late last year. There are plans to build a 36-storey residential tower on the site, with 251 apartments measuring 387 square feet to 1,324 sq ft. Prices are said to be above $2,000 psf.

Spottiswoode 18 will be near UOL Group's recently launched Spottiswoode Residences, which is also a freehold project. Selling prices at the latter were last reported to be in the range of $1,720-2,270 psf.

Marketing for the freehold Killiney 118 has also started. The project in the Somerset area has 30 units comprising one and two-bedders and is developed by a unit of Amara Holdings.

The momentum for property launches could pick up in January after the December holiday season ends and before the Chinese New Year kicks in. For instance, CB Richard Ellis is in discussions for four to five launches slated for that month.