http://www.straitstimes.com/archive/...tions-20130921
Buyers snap up units at Thomson Three, beating expectations
Published on Sep 21, 2013
By Melissa Tan
SALES at UOL Group's 99-year leasehold Thomson Three project were better than expected at its preview yesterday. Buyers snapped up 160 out of the 200 units launched for sale through balloting as at 6pm yesterday.
That figure was "way above expectation", said Savills Singapore research head Alan Cheong.
He added that the market had been expecting the project at Bright Hill Drive to move between 80 and 120 units on its first day of sales.
Thomson Three, a joint venture between UOL Group and Singapore Land, consists of 435 apartments and 10 strata semi-detached houses.
The average selling price was $1,350 per sq ft (psf) yesterday. The most popular condo units were the larger three-bedders and the four-bedders, UOL said.
The project also moved two of the semi-detached houses, at $3.3 million and $3.4 million.
Madam Serena Goh, 40, who bought a 732 sq ft two-bedder unit at $1,374 psf for investment, said the project's location is appealing. It is near the upcoming Upper Thomson MRT station.
"Thomson is a mature estate, you hardly find high-rise condos... it's a very safe bet," said the sales manager.
Mr Cheong said that buyers were likely more optimistic after the United States Federal Reserve said on Thursday that it would maintain its monetary stimulus programme.
"UOL happened to time it (the launch) very well. Interest rate fears have subsided and people are more confident," he said.
However, Colliers International research head Chia Siew Chuin said it was too early to say whether the sales at Thomson Three signalled a pick-up in market sentiment.
All eyes are now on CapitaLand's Sky Vue project in Bishan, due to be launched on Sept 28.
Consultants expect new home sales for this month to come in at above 1,000 units.
UOL will release between 120 and 150 more units at Thomson Three for sale today.
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