Buyers snap up 195 units in Bishan condo
http://www.straitstimes.com/Money/St...ry_253013.html
June 30, 2008
LEASEHOLD PROJECT
Buyers snap up 195 units in Bishan condo
IN A welcome departure from the generally quiet market so far this year, the latest property launch - of the 616-unit Clover by the Park - has generated sales of 195 units so far.
Sim Lian Group, which is developing the condo, said that as at 8pm last night, it had sold 195 out of the 308 units that were released for sale since last Friday's official launch.
The 99-year leasehold condominium has large units, suites and penthouses.
The eight suites, of 3,057 sq ft each, were all snapped up, indicating that buyers were keen on larger units.
Buyers were mostly families upgrading from HDB flats. They picked up units priced between $907,000 and $2.68 million, or $599 per sq ft (psf) to $858 psf, said Sim Lian Land's executive director, Ms Diana Kuik.
The average price worked out to be about $750 psf.
Ms Kuik said potential buyers thronged the showflat and some stayed so late that the developer closed the showflat only at midnight on Saturday and around 10pm last night.
However, about 100 units had already been sold by Thursday, following the development's soft launch on Wednesday.
The property market has largely been quiet recently, as sentiment dipped drastically early in the year. Sales volume has plunged dramatically from the numbers registered during the boom times of last year. While the mood is still cautious, a few recent launches have registered encouraging sales.
Savills Singapore's director of marketing and business development, Mr Ku Swee Yong, said: 'Serious buyers were probably spoilt for choice this weekend, shopping among the few launches which are attractively priced.'
A week ago, the 99-year leasehold Dakota Residences in Dakota Crescent and the freehold The Amery in Telok Kurau were released for sale.
JOYCE TEO
