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02-05-13, 17:06
http://www.straitstimes.com/archive/wednesday/premium/money/story/far-east-release-30-units-latest-luxury-project-20130501
Far East to release 30 units in latest luxury project
Published on May 01, 2013
By Cheryl Ong
FAR East Organization will release 30 units for sale at the launch of its latest luxury property today.
Prices of the apartments at the 104-unit Ferra will start at $2.3 million for a 732 sq ft unit. This translates to a median price of $3,142 per sq ft (psf).
The development comprises 32 units of 732 sq ft each, 36 units of 883 sq ft each, and 34 units of 893 sq ft each. There are two penthouses, measuring 2,013 sq ft each, said Far East.
Units at the development will have a "semi-white" floor plan, with the layout of only the kitchens and bathrooms fixed. Owners are able to determine the number of rooms they want by deciding on the number of walls and partitions they would like to construct within each unit.
Buyers can also pick from a selection of interior themes, chosen by Italian car designer Paolo Pininfarina, to customise their homes.
Located at 1, Leonie Hill in District 9, the project has a lease of 103 years, and will be designed by RSP Architects Planners and Engineers.
Far East said Mr Pininfarina was also responsible for designing the condominium's facade. The project is the fourth of the company's luxury projects developed under its Inessence brand, which promises buyers the freedom to completely configure their apartment's interior at no extra charge.
Experts say that investors will make up the bulk of buyers for the units at Ferra, but caution that it could take a longer time to sell out the project.
SLP International research head Nicholas Mak said: "Demand in the high-end residential market is still quite soft, especially for projects above $3,000 psf. Sellers asking for such prices would probably have to be a bit more patient."
[email protected]
Far East to release 30 units in latest luxury project
Published on May 01, 2013
By Cheryl Ong
FAR East Organization will release 30 units for sale at the launch of its latest luxury property today.
Prices of the apartments at the 104-unit Ferra will start at $2.3 million for a 732 sq ft unit. This translates to a median price of $3,142 per sq ft (psf).
The development comprises 32 units of 732 sq ft each, 36 units of 883 sq ft each, and 34 units of 893 sq ft each. There are two penthouses, measuring 2,013 sq ft each, said Far East.
Units at the development will have a "semi-white" floor plan, with the layout of only the kitchens and bathrooms fixed. Owners are able to determine the number of rooms they want by deciding on the number of walls and partitions they would like to construct within each unit.
Buyers can also pick from a selection of interior themes, chosen by Italian car designer Paolo Pininfarina, to customise their homes.
Located at 1, Leonie Hill in District 9, the project has a lease of 103 years, and will be designed by RSP Architects Planners and Engineers.
Far East said Mr Pininfarina was also responsible for designing the condominium's facade. The project is the fourth of the company's luxury projects developed under its Inessence brand, which promises buyers the freedom to completely configure their apartment's interior at no extra charge.
Experts say that investors will make up the bulk of buyers for the units at Ferra, but caution that it could take a longer time to sell out the project.
SLP International research head Nicholas Mak said: "Demand in the high-end residential market is still quite soft, especially for projects above $3,000 psf. Sellers asking for such prices would probably have to be a bit more patient."
[email protected]