Strong buyer interest in Sennett Residence units

[reporter2]

http://www.straitstimes.com/archive/...units-20130306

Strong buyer interest in Sennett Residence units

Published on Mar 06, 2013


ONE of the first condominiums to be launched after the most recent round of market cooling measures has drawn strong buyer interest.

Sources told The Straits Times that developer Tuan Sing Holdings has collected at least 400 blank cheques since the showflat for Sennett Residence in Potong Pasir opened last weekend.

This exceeded the 332 residential units in the project.

Homes in the 99-year leasehold condo cost about $1,450 psf, sources said. That translates to about $700,000 for the smallest one-bedder at 485 sq ft to about $6.1 million for the largest penthouse at around 4,200 sq ft.

The project has three shops which are yet to be launched. Its launch was delayed from January due to the announcement of cooling measures on Jan 11.

The strong response so soon after the cooling measures may spark fears of yet another round of measures. But analysts said other factors could have boosted demand for Sennett Residence.

DWG senior manager Lee Sze Teck cited its location next to Potong Pasir MRT station and said buyers had been awaiting its launch for some time.

Savills Singapore research head Alan Cheong added that buyers may believe that "they may need to invest now or they may not be able to afford it later".

The first condo to launch after the cooling measures was the 630-unit Q Bay Residences in Tampines, where more than 210 homes were sold at the preview after its developers cut average prices from $1,050 psf to $985 psf.

Other projects are launching soon. Bartley Ridge, an 868-unit condo at Mount Vernon Road developed by Hong Leong, City Developments and TID, will open for preview tomorrow.

MELISSA TAN

[Lemonlaw]

http://www.straitstimes.com/archive/...units-20130306

Strong buyer interest in Sennett Residence units

Published on Mar 06, 2013


ONE of the first condominiums to be launched after the most recent round of market cooling measures has drawn strong buyer interest.

Sources told The Straits Times that developer Tuan Sing Holdings has collected at least 400 blank cheques since the showflat for Sennett Residence in Potong Pasir opened last weekend.

This exceeded the 332 residential units in the project.

Homes in the 99-year leasehold condo cost about $1,450 psf, sources said. That translates to about $700,000 for the smallest one-bedder at 485 sq ft to about $6.1 million for the largest penthouse at around 4,200 sq ft.

The project has three shops which are yet to be launched. Its launch was delayed from January due to the announcement of cooling measures on Jan 11.

The strong response so soon after the cooling measures may spark fears of yet another round of measures. But analysts said other factors could have boosted demand for Sennett Residence.

DWG senior manager Lee Sze Teck cited its location next to Potong Pasir MRT station and said buyers had been awaiting its launch for some time.

Savills Singapore research head Alan Cheong added that buyers may believe that "they may need to invest now or they may not be able to afford it later".

The first condo to launch after the cooling measures was the 630-unit Q Bay Residences in Tampines, where more than 210 homes were sold at the preview after its developers cut average prices from $1,050 psf to $985 psf.

Other projects are launching soon. Bartley Ridge, an 868-unit condo at Mount Vernon Road developed by Hong Leong, City Developments and TID, will open for preview tomorrow.

MELISSA TAN

Chey...I thought is fully sold.

[RCT]

Collect more cheque than unit available... But sold how many? 90%

[DKSG]

Collect more cheque than unit available... But sold how many? 90%

80%. Nowadays, developers dont aim for 100% sold in first month. This means that their pricing is wrong (under priced).

You will do the same if you are the developer too!

DKSG

[RCT]

Wah... Already nearly 300 unit sold? This is hot...

[DKSG]

Wah... Already nearly 300 unit sold? This is hot...

Alamak! I tell u all many times that going to the showflat is impt for property investment, but many choose to bang keyboard to gain experience. Sigh ...

Go out - check it out! Market is red hot!

DKSG

[RCT]

Alamak! I tell u all many times that going to the showflat is impt for property investment, but many choose to bang keyboard to gain experience. Sigh ...

Go out - check it out! Market is red hot!

DKSG

I went to others but still have not visited this one yet.. Maybe will go and see this tmr...

[star]

Condo will be red hot. With uncertainty rules on bto hdb such as mop 10yrs, can only sell back to hdb, shortening lease and limit foreign talents on each block of flat most will opt for condo.

[cnud]

It is resale market's turn to be hot now.

[Rysk]

http://www.straitstimes.com/archive/...units-20130306

Strong buyer interest in Sennett Residence units

Published on Mar 06, 2013


Homes in the 99-year leasehold condo cost about $1,450 psf, sources said. That translates to about $700,000 for the smallest one-bedder at 485 sq ft to about $6.1 million for the largest penthouse at around 4,200 sq ft.


MELISSA TAN

Now I can understand why ppl grab the EC 4xxx sq ft penthouse at $2.3m..

[kane]

Jackpot liao that fella who bought the city life one.

[Lemonlaw]

Now I can understand why ppl grab the EC 4xxx sq ft penthouse at $2.3m..

I can only say HUAT Ar....for that person who bought at EC at 2.3m want to lose $$$ also tough.