Sales of private homes on the rise

Property
Published April 25, 2006

Sales of private homes on the rise


PROPERTY developers continue to chalk up sales of private homes. Peak Development, part of Wee Cho Yaw's privately held Kheng Leong group, did a preview at the weekend for a 24-storey freehold apartment project, The Chuan.


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Lavish: The Chuan, being marketed by CB Richard Ellis, boasts large master bedrooms with a walk-in wardrobe and big bathroom


BT understands it has sold about 30 per cent of the 50 units released so far.

The project, in the established private-housing locale of Lorong Chuan, comprises 106 units in all.

The average price is $710 per square foot on normal progress payment terms.

For those who prefer a deferred payment scheme, the average price works out to a higher $722 psf.

Buyers pay 5 per cent on booking a unit, another 5 per cent eight weeks later, and the next payment of 10 per cent in January next year.

The rest is deferred until the project is completed in early 2008.

Kheng Leong is a boutique residential developer focusing mostly in the prime districts.

The Chuan, being marketed by CB Richard Ellis, boasts large master bedrooms with a walk-in wardrobe and big bathroom.

In the West Coast area, Frasers Centrepoint, which has been previewing its Infiniti condo on the former Faber Hills condo site, sold another 10 units last week, bringing total sales to almost 40 units since it began previews on April 8.

The buyers include Housing & Development Board flat upgraders living in areas like the West Coast, Clementi, Bukit Batok and Jurong. Colliers International is marketing the project, which comprises 315 units in total.

The 12-storey freehold project is priced on average at $550-560 psf.

Meanwhile, in the Katong area, a consortium led by United Industrial Corp sold about 30 units at One Amber condo during the weekend.

This brings total sales to 240 of the 300 units released so far at the freehold project, which was released at the start of this month.

The average price has edged up to $725 psf from the initial $720 psf.

One Amber comprises 562 units in total. UIC is jointly developing the project with Singapore Land and United Overseas Land on the former Maryland Park site.