reporter2
27-04-12, 17:32
http://www.straitstimes.com/Money/Story/STIStory_790745.html
Katong Regency condo 70% sold
Published on Apr 20, 2012
STEEP prices at a freehold condominium in the east did not seem to faze home buyers, who snapped up 70per cent of units at Katong Regency by the end of the first day of its official launch yesterday.
UOL, the developer of the mixed-use project, said last night that at least 170 options have been issued to buyers. Sources said the bigger units - two-bedders to penthouses - are fully sold.
The freehold project at Paya Lebar has 244 residential units, of which more than half are one-bedroom and one-plus-study units. It costs an average of $1,500 to $1,600 per sq ft (psf), a price property consultants earlier said was 'on the high side'.
Prices for a 550 sq ft one-bedroom unit start at about $950,000 and go up to over $2.5 million for a 1,970 sq ft three-bedroom penthouse. The residential units sit atop One KM, a new 'edutainment' mall; the entire development will be completed by 2014.
At the showflat yesterday, Mr Raymond Chai, 49, held back on making a purchase as he felt the price was steep. But a housewife who wanted to be known only as Cheryl, 37, called the prices 'reasonable'.
She is looking for a home for her family of four. 'The location is good and it's freehold. The price is reasonable, compared to projects like Sky Habitat.'
AMANDA TAN
Katong Regency condo 70% sold
Published on Apr 20, 2012
STEEP prices at a freehold condominium in the east did not seem to faze home buyers, who snapped up 70per cent of units at Katong Regency by the end of the first day of its official launch yesterday.
UOL, the developer of the mixed-use project, said last night that at least 170 options have been issued to buyers. Sources said the bigger units - two-bedders to penthouses - are fully sold.
The freehold project at Paya Lebar has 244 residential units, of which more than half are one-bedroom and one-plus-study units. It costs an average of $1,500 to $1,600 per sq ft (psf), a price property consultants earlier said was 'on the high side'.
Prices for a 550 sq ft one-bedroom unit start at about $950,000 and go up to over $2.5 million for a 1,970 sq ft three-bedroom penthouse. The residential units sit atop One KM, a new 'edutainment' mall; the entire development will be completed by 2014.
At the showflat yesterday, Mr Raymond Chai, 49, held back on making a purchase as he felt the price was steep. But a housewife who wanted to be known only as Cheryl, 37, called the prices 'reasonable'.
She is looking for a home for her family of four. 'The location is good and it's freehold. The price is reasonable, compared to projects like Sky Habitat.'
AMANDA TAN