20 units of The Arte sold over weekend

http://www.businesstimes.com.sg/sub/...29386,00.html?

Published April 21, 2009

20 units of The Arte sold over weekend

This takes total sales since the official launch to 170 units

By ZHANG YI TING


CITY Developments Ltd (CDL) sold 20 units at The Arte at Thomson over the weekend. This takes total sales since the property's official launch to 170 units, with last weekend's sales fetching a total of $30 million.

'The sales volume indicates that buyers have greater confidence in the property market and in the future of their investment. This reinforces CDL's view that the current market is now attracting savvy but cautious investors,' said Chia Ngiang Hong, Group general manager of CDL.

Buyers' interest was also evidenced by the strong turnover of over 1,000 visitors at The Arte's showroom over the weekend.

Among other factors, these prospective buyers were drawn by the property's location and proximity to a MRT station, according to a CDL release.

The Arte is located within the Thomson area with convenient connections to the City and the expressways. It is also a short walk from Toa Payoh MRT station.

Priced at $880 psf on average, the freehold project comprises two 36-storey towers and will be completed in 2012. Most of the 336 units available are going for under $2 million.

Buyers can opt for CDL's interest absorption scheme (IAS), which allows them to defer the bulk of their purchase until The Arte's completion on the condition that they take up a housing loan at the point of sale.

A majority of buyers of The Arte have private home addresses and many say they want to invest in another property or to move into a new and upscale residence.

Singaporeans' renewed interest in private property saw the sales of 2,660 private homes in the first three months of 2009, which is about 62 per cent of total new home sales in 2008, according to the CDL release.

http://www.channelnewsasia.com/stori...423684/1/.html

Almost all units launched for sale at The Arte at Thomson sold

By Ng Baoying, Channel NewsAsia | Posted: 20 April 2009 2234 hrs


SINGAPORE: Almost all of the 180 units for sale at The Arte at Thomson have been sold since the project's official launch earlier this month.

A total of 170 units has already changed hands, with 20 sold over the weekend for some S$30 million.

More than 1,000 visitors made their way to the 336-unit, freehold development's showroom last weekend.

Developer City Developments sees this as evidence that buyers have greater confidence in the property market now.

Private home sales in Singapore in the first three months of 2009 hit 2,660 units. That was about 62 per cent of total new home sales in 2008. - CNA/vm