Cool reception to condo launch

[princess_morbucks]

http://www.tnp.sg/content/cool-reception-condo-launch


Named after a famous Greek island, The Santorini condominium was launched late last month, to little fanfare.

The 597-unit condomium project in Tampines was the only major launch in March, but despite the low competition, sales at the 99-year-lease development were slow.

A total of 80 out of 200 units were sold, mostly one- and two-bedders, said a spokesman for The Santorini.

The average selling price was $1,100 psf.

Developers are having to become increasingly aggressive in pushing sales in a cooling property market.

Last Sunday afternoon, The Santorini held a seminar and carnival at the show-flat, inviting lawyers, bankers and PropNex chief executive Mohamed Ismail to provide advice to potential buyers.

But when The New Paper visited the show-flat at Tampines Avenue 10 at about 4pm, the place was only about half-filled and there were more property agents than potential buyers there.

Read the full report in The New Paper on Saturday (April 26).

[Londonproperty123]

The market is obviously cooling. Prices are coming down, I think.

[my2cents]

http://www.tnp.sg/content/cool-reception-condo-launch

This one surely is weak, but there are very hot ones selling too, Commonwealth Towers, Lakeville and The Sorrento, selling very sell.

[Triszavi]

Nowadays is all about selective buying.

[RCT]

This one surely is weak, but there are very hot ones selling too, Commonwealth Towers, Lakeville and The Sorrento, selling very sell.

Selling very well? Really? Never really follow recently... How many % sold?

[my2cents]

Selling very well? Really? Never really follow recently... How many % sold?

"The Sorrento sold 76%, The Sorrento a new freehold condominium has seen strong interest from buyers since its launch last Friday, with around 100 of the 131 available units finding buyers, media reports said."
Units at The Sorrento were priced from $1,380 to $1,600 psf.

"Lakeville hv sold more than 180 units on it first day launched and with average prx of $ 1300 sqft, Developer originally planned to push only of 150 units but due to overwhelmed responds, more units were added on the launches."

Commonwealth Towers no official news release yet, but a friend went there, more than a thousand peoples turned up and cheques are collected.
Priced from $ 1400 to $ 1750 psf.

"More than 1,500 potential buyers turned up at the showflat of Commonwealth Towers on the first day of preview on Sunday, said its developer Hong Leong Holdings."

"Doors of the showflat at Margaret Drive opened at 12pm yesterday and were scheduled to close at 8pm. But due to the large crowd, preview hours were extended by another two hours."