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Thread: New condo sells half its units in 2 hours

  1. #1
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    Default New condo sells half its units in 2 hours

    So lose control.. die die must buy something?


    IT TOOK just two hours for buyers to snap up half of the units for sale in a condominium in Upper Thomson Road.


    The sole marketing agent for the development Three 11, Knight Frank, said that 33 units out of 65 for sale were sold within two hours to eager buyers on Saturday at a preview launch. By yesterday, a total of 48 units, or 74 per cent of the development, were sold.


    The 65-unit freehold development has an average price of $1,615 per sq ft, with units ranging from $844,000 for a 460 sq ft one-bedder to $2.3 million for a 1,500 sq ft penthouse. Buyers were mostly Singaporeans, making up about 80 per cent of the crowd, while the rest were permanent residents and foreigners.


    "About 70 per cent of the buyers have bought for owner-occupation," said Knight Frank's executive director for residential Wendy Teng.


    Developed by property developer Woh Hup's unit, Aurum Land, the development has a total of nine one-bedders, 26 two-bedders, 16 three-bedders and 14 penthouses.


    The condominium sits on the former site of Jasmine Court, which was acquired by Aurum Land for $43 million - or $833 psf - in a collective sale in 2011.


    The keen interest in the condominium is going against warnings that the property market could be hit hard by the tightening of easy liquidity and threat of higher interest rates.


    But SLP International head of research and consultancy Nicholas Mak noted part of the attraction for Three 11 was that the total selling price of some units is still below the $1 million mark.


    The condo's proximity to the upcoming Upper Thomson MRT station is another draw, he said.


    "Investors are still interested to acquire property located near MRT stations, or have good accessibility to public transportation."


    Other upcoming developments in the area include a condo on a plot in Bright Hill Drive bought by UOL Group and SingLand in a state tender last August for $291.5 million or $720 psf per plot ratio. This could yield 445 homes.


    Three 11 is expected to obtain its Temporary Occupation Permit (TOP) in 2016

  2. #2
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    Default New condo sells half its units in 2 hours

    http://www.straitstimes.com/premium/...hours-20130624

    New condo sells half its units in 2 hours

    Published on Jun 24, 2013

    By Cheryl Ong


    IT TOOK just two hours for buyers to snap up half of the units for sale in a condominium in Upper Thomson Road.

    The sole marketing agent for the development Three 11, Knight Frank, said that 33 units out of 65 for sale were sold within two hours to eager buyers on Saturday at a preview launch. By yesterday, a total of 48 units, or 74 per cent of the development, were sold.

    The 65-unit freehold development has an average price of $1,615 per sq ft, with units ranging from $844,000 for a 460 sq ft one-bedder to $2.3 million for a 1,500 sq ft penthouse. Buyers were mostly Singaporeans, making up about 80 per cent of the crowd, while the rest were permanent residents and foreigners.

    "About 70 per cent of the buyers have bought for owner-occupation," said Knight Frank's executive director for residential Wendy Teng.

    Developed by property developer Woh Hup's unit, Aurum Land, the development has a total of nine one-bedders, 26 two-bedders, 16 three-bedders and 14 penthouses.

    The condominium sits on the former site of Jasmine Court, which was acquired by Aurum Land for $43 million - or $833 psf - in a collective sale in 2011.

    The keen interest in the condominium is going against warnings that the property market could be hit hard by the tightening of easy liquidity and threat of higher interest rates.

    But SLP International head of research and consultancy Nicholas Mak noted part of the attraction for Three 11 was that the total selling price of some units is still below the $1 million mark.

    The condo's proximity to the upcoming Upper Thomson MRT station is another draw, he said.

    "Investors are still interested to acquire property located near MRT stations, or have good accessibility to public transportation."

    Other upcoming developments in the area include a condo on a plot in Bright Hill Drive bought by UOL Group and SingLand in a state tender last August for $291.5 million or $720 psf per plot ratio. This could yield 445 homes.

    Three 11 is expected to obtain its Temporary Occupation Permit (TOP) in 2016.

    [email protected]

  3. #3
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    eBrochure HERE

  4. #4
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    Anyone know what is the selling psf like?

  5. #5
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    Developer's worst nightmare is when construction companies have grown big enough through yrs of accumulated experience and start their own property development arm. Well Done Woh Hup!

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    They are also building the Bartley Residences. The speed is supper fast.

    Sim Lian is 1 of them, now they all in 1 house.

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    If Jurong is selling at $1,650 psf, then paying $1,600psf for thomson (FH??) sounds very cheap ...

    Is someone going to scream ice cream again?!

    DKSG

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    Yep, FH.

    Based on this logic, yes, it seems cheap. No wonder gone so fast.

  9. #9
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    Quote Originally Posted by CondoInterested
    They are also building the Bartley Residences. The speed is supper fast.

    Sim Lian is 1 of them, now they all in 1 house.
    Personally I would prefer woh hup than simlian as woh hup has always been more involved in pte properties while simlian is a hdb old bird.

  10. #10
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    I SCREAM WOH HUP... damn pro. Their 1919 @ Sophia sell in record 2wks. Will they sellout 100% in big red fonts in 2wks too?

  11. #11
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    Quote Originally Posted by DKSG
    If Jurong is selling at $1,650 psf, then paying $1,600psf for thomson (FH??) sounds very cheap ...

    Is someone going to scream ice cream again?!

    DKSG
    Yes hahaha
    This is unbeatable location. So much more peaceful than Jurong.
    Yee ha! Did I tickle your funny bone?


  12. #12
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    Quote Originally Posted by DKSG
    If Jurong is selling at $1,650 psf, then paying $1,600psf for thomson (FH??) sounds very cheap ...

    Is someone going to scream ice cream again?!

    DKSG
    $1650 psf is the average psf. 1 bedder at 3-11 is starting from $18xx psf (published), while at J-G it is starting from $16xx psf (indicative). There is a premium attached to the FH status. Then again, I don't think the developer at J-G will stick to $16xx psf if there is a big stack of cheques numbering much more than the units available.

  13. #13
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    Quote Originally Posted by hyenergix
    $1650 psf is the average psf. 1 bedder at 3-11 is starting from $18xx psf (published), while at J-G it is starting from $16xx psf (indicative). There is a premium attached to the FH status. Then again, I don't think the developer at J-G will stick to $16xx psf if there is a big stack of cheques numbering much more than the units available.
    For investment, Jurong better.... Tenant come find u, u just sit back and collect rental.

  14. #14
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    Sell 30+ units shout until like that. Is the market that bad? I mean if you sell 300 units then shout.

  15. #15
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    Quote Originally Posted by Wild Falcon
    Sell 30+ units shout until like that. Is the market that bad? I mean if you sell 300 units then shout.
    I think its quite an achievement as there are only 65 units available. Plus the number of 1-2 bedders are relatively low, and the quantum of the penthouses are relatively higher. Pretty good sales to me.
    Ride or Die

  16. #16
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    Upp thomson is a nice area to live in. For this price, I rather buy Thomson than Jurong any day.

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