mr funny
16-09-10, 07:05
http://www.businesstimes.com.sg/sub/news/story/0,4574,403552-1284407940,00.html?
Published September 13, 2010
Home buyers return as Ghost Month ends
At NV Residences' preview, 250 out of 300 units taken up
By EMILYN YAP
(SINGAPORE) With the hungry ghosts fed, private property buyers are coming back to the market.
But the end of the Hungry Ghost Festival isn't the only reason that there was a discernable uptick in buying activity over the long weekend.
A new major launch also helped, along with home seekers given more time to mull over the property cooling measures.
Most of the deals were concentrated on NV Residences in Pasir Ris. City Developments and the Hong Leong Group opened the doors of the project for preview last Wednesday. Some 160 units were quickly snapped up at an average price of $830 per square foot.
Since then, the developers have disposed of another 90 units or so and demand has pushed the average price up slightly. As at 5pm yesterday, a total of 250 out of 300 units launched were taken up.
Most - some 80 per cent - of the buyers were Singaporeans. The rest were permanent residents or foreigners.
The developers plan to close the showflat from today onwards to prepare it for the project's official launch this coming weekend.
At The Minton in Hougang, buyers picked up some 10 units over the past weekend, according to Knight Frank's managing director (residential services) Peter Ow. The sales number was similar at Oasis@Elias, which is near NV Residences.
Both The Minton and Oasis@Elias projects performed better than they did a week ago, Mr Ow said. Buyers have had time to think through the new cooling measures and 'it looks like people are settling down,' he explained. 'Those who are really keen, they are willing to commit.'
Far East Organization, which launched the second phase of sales for The Greenwich in August, sold another nine units at the Seletar project over the long weekend. This brought the total number sold to 225 units, at an average price of $1,074 psf.
Over at Telok Kurau, World Class Land previewed its freehold 46-unit Espira Suites last week. Most of the apartments are one-bedders, and the average price for these is said to be around $1,300 psf.
Agents have offloaded several units, though the project has not been sold-out. When the property market was at its hottest several months back, it was common to see small projects dominated by shoebox units snapped up in days.
Industry watchers will be keeping on eye on upcoming launches for a clearer sense of where the property market is headed.
One project to look out for is Hoi Hup Sunway's Vacanza@East at Kembangan. Agents are preparing for its soft launch, said to be happening at the end of the month, and the average selling price could be in the range of $1,100 psf.
Published September 13, 2010
Home buyers return as Ghost Month ends
At NV Residences' preview, 250 out of 300 units taken up
By EMILYN YAP
(SINGAPORE) With the hungry ghosts fed, private property buyers are coming back to the market.
But the end of the Hungry Ghost Festival isn't the only reason that there was a discernable uptick in buying activity over the long weekend.
A new major launch also helped, along with home seekers given more time to mull over the property cooling measures.
Most of the deals were concentrated on NV Residences in Pasir Ris. City Developments and the Hong Leong Group opened the doors of the project for preview last Wednesday. Some 160 units were quickly snapped up at an average price of $830 per square foot.
Since then, the developers have disposed of another 90 units or so and demand has pushed the average price up slightly. As at 5pm yesterday, a total of 250 out of 300 units launched were taken up.
Most - some 80 per cent - of the buyers were Singaporeans. The rest were permanent residents or foreigners.
The developers plan to close the showflat from today onwards to prepare it for the project's official launch this coming weekend.
At The Minton in Hougang, buyers picked up some 10 units over the past weekend, according to Knight Frank's managing director (residential services) Peter Ow. The sales number was similar at Oasis@Elias, which is near NV Residences.
Both The Minton and Oasis@Elias projects performed better than they did a week ago, Mr Ow said. Buyers have had time to think through the new cooling measures and 'it looks like people are settling down,' he explained. 'Those who are really keen, they are willing to commit.'
Far East Organization, which launched the second phase of sales for The Greenwich in August, sold another nine units at the Seletar project over the long weekend. This brought the total number sold to 225 units, at an average price of $1,074 psf.
Over at Telok Kurau, World Class Land previewed its freehold 46-unit Espira Suites last week. Most of the apartments are one-bedders, and the average price for these is said to be around $1,300 psf.
Agents have offloaded several units, though the project has not been sold-out. When the property market was at its hottest several months back, it was common to see small projects dominated by shoebox units snapped up in days.
Industry watchers will be keeping on eye on upcoming launches for a clearer sense of where the property market is headed.
One project to look out for is Hoi Hup Sunway's Vacanza@East at Kembangan. Agents are preparing for its soft launch, said to be happening at the end of the month, and the average selling price could be in the range of $1,100 psf.