http://www.businesstimes.com.sg/sub/...39140,00.html?

Published September 6, 2011

Weekend launches off to a good start

The Meyerise sees 70% take-up while The Luxurie in Sengkang sees 82%

By MINDY TAN


TWO project launches over the weekend - a preview of The Meyerise and the official launch of The Luxurie - saw a strong turnout.


The Luxurie: The 99-year leasehold development in Sengkang fetched an average price of $980 psf since its preview launch on Aug 26

The Meyerise, a 239-unit freehold development by Hong Leong Holdings, saw 70 per cent of the 120 units released snapped up.

Of the units sold at the District 15 Meyer Road project, nearly half consisted of three-bedroom units. Unit prices ranged from $1,400 to $2,540 psf.

'New freehold properties across the island are few and far between, much less within the district,' said Joseph Tan, executive director for residential services at CBRE.

'Residents in this area often prefer to continue keeping their address within the district because it's an excellent location with good amenities and value.'

Singaporeans and permanent residents made up over 90 per cent of buyers in the preview weekend.

Meanwhile, The Luxurie, a 99-year leasehold development located at Sengkang, has seen more than 180 units sold at an average price of $980 psf since its preview launch on Aug 26. The penthouse and groundfloor units are fully sold.

Augustine Tan, president (Singapore residential), Keppel Land, said: 'The positive take-up, with more than 82 per cent of the 220 launched units sold, reflects homebuyers' confidence in The Luxurie's strong value offerings, such as its prime location near the MRT station and wide array of amenities, as well as Keppel's quality hallmark and attention to detail.'

When completed in 2015, The Luxurie will comprise a total of 622 apartments, ranging from one to four-bedroom units as well as penthouse units.

Comparable projects in the area include Kovan Residences, located along Kovan Road, which had a recently transacted price of $1,180 psf; and Boathouse Residences, located along Upper Serangoon Road, which was recently transacted at $880 psf.

In August, Far East Organization sold 181 units of its 748-unit euHabitat during its preview launch.

Located on Jalan Eunos, the 99-year leasehold project offers one bedroom suites, SOHO-style apartments, condominium apartments and townhouses.

To date, 472 of its 548 units released for sale have been sold.

Prices range from $880 to $1,200 psf.