reporter2
12-01-12, 16:03
http://www.businesstimes.com.sg/sub/news/story/0,4574,473015-1326225540,00.html?
Published January 10, 2012
Over 800 apply online for CDL's 466-unit EC The Rainforest
By FELDA CHAY
CURBS may have been put in place to slow demand for properties here, but at least one developer continues to see strong interest for its projects.
City Developments Ltd (CDL) said it received over 800 e-applications for its 466-unit executive condominium (EC) project, The Rainforest, as at 5pm yesterday - the last day of applications for eligible EC buyers.
'We are receiving more e-applications progressively till the end of the day,' said a CDL spokesman.
The average selling price for units at The Rainforest ranges from $720 to $730 per square foot (psf), with two-bedroom-plus-study units (818 sq ft) starting at $601,000.
Bigger apartments such as a three-bedroom unit (947 sq ft) cost at least $688,000, while pricing for a four-bedroom home (1,238 sq ft) starts at $896,000.
Sizes of two-bedroom-plus-study units range from 818 to 1,033 sq ft, while those of penthouses range from 1,819 to 2,174 sq ft.
Developed by CDL and TID - a joint venture between Hong Leong Group and Mitsui Fudosan - the public-private housing project is located near Choa Chu Kang MRT Station and Lot One Shoppers' Mall.
Said Knight Frank's head of research and consultancy, Png Poh Soon, when applications for the EC opened last week: 'Resale prices for five-room HDB range from $450,000 to $510,000 while executive HDB flat types are transacting from $520,000 to $600,000.
'The gap is not wide and most upgraders may look to purchase while locking in at low attractive mortgage rates. Clearly, the pricing of The Rainforest has these upgraders in mind.'
Published January 10, 2012
Over 800 apply online for CDL's 466-unit EC The Rainforest
By FELDA CHAY
CURBS may have been put in place to slow demand for properties here, but at least one developer continues to see strong interest for its projects.
City Developments Ltd (CDL) said it received over 800 e-applications for its 466-unit executive condominium (EC) project, The Rainforest, as at 5pm yesterday - the last day of applications for eligible EC buyers.
'We are receiving more e-applications progressively till the end of the day,' said a CDL spokesman.
The average selling price for units at The Rainforest ranges from $720 to $730 per square foot (psf), with two-bedroom-plus-study units (818 sq ft) starting at $601,000.
Bigger apartments such as a three-bedroom unit (947 sq ft) cost at least $688,000, while pricing for a four-bedroom home (1,238 sq ft) starts at $896,000.
Sizes of two-bedroom-plus-study units range from 818 to 1,033 sq ft, while those of penthouses range from 1,819 to 2,174 sq ft.
Developed by CDL and TID - a joint venture between Hong Leong Group and Mitsui Fudosan - the public-private housing project is located near Choa Chu Kang MRT Station and Lot One Shoppers' Mall.
Said Knight Frank's head of research and consultancy, Png Poh Soon, when applications for the EC opened last week: 'Resale prices for five-room HDB range from $450,000 to $510,000 while executive HDB flat types are transacting from $520,000 to $600,000.
'The gap is not wide and most upgraders may look to purchase while locking in at low attractive mortgage rates. Clearly, the pricing of The Rainforest has these upgraders in mind.'