Results 1 to 2 of 2

Thread: Home hunters pack showflats in Balestier

  1. #1
    mr funny is offline Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default CDL sells 60 units in The Arte at Thomson

    http://www.businesstimes.com.sg/sub/...25574,00.html?

    Published March 27, 2009

    CDL sells 60 units in The Arte at Thomson


    CITY Developments Ltd (CDL) sold about 60 apartments at its 336-unit project The Arte at Thomson last weekend.


    The Arte at Thomson: The freehold project comprises two-, three- and four-bedroom apartments, as well as penthouses

    The developer said yesterday that the average selling price was $880 per sq foot (psf). It released 100 units during the 'private preview' and will release more this weekend.

    The freehold project comprises two-, three- and four-bedroom apartments, as well as penthouses. Most of the units sold last weekend were smaller two- and three-bedders.

    Unlike other recently launched projects, units at The Arte are large, which means buyers have to fork out more.

    For example, two-bedders are 1,055 sq ft and three-bedders range from 1,399 sq ft to 1,625 sq ft. Assuming $880 psf for a two-bedder, the price of the smallest unit would be $928,400.

    But according to CDL general manager Chia Ngiang Hong: 'The Arte offers superb value for a prime freehold property in the Thomson area. Buyers get a luxurious condo without paying a premium price.'

    CDL is offering an interest absorption scheme.

    Analysts expect more projects to be launched in coming weeks as developers try to capitalise on a recent surge in buying interest. They sold 1,323 new private homes last month - eleven times more than in January. Numbers are expected to be strong for March as well, on the back of sales at The Arte, and at UOL Group and Kheng Leong's Simei condominium Double Bay Residences, where more than 200 units were sold this month.

    Amid the buying surge, BT understands that Far East Organization is set to launch its mass market project Mi Casa. The 457-unit development near Choa Chu Kang MRT is expected to be popular with HDB upgraders in neighbouring estates.

    Separately, Tee International and Hup Soon Global said that they are teaming up with a Bangkok-based company for the Singapore launch of a freehold luxury condominium located in the Thai capital. The Surawong will be launched this weekend at the Grand Hyatt Hotel here.

  2. #2
    mr funny is offline Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default Home hunters pack showflats in Balestier

    http://www.straitstimes.com/Money/St...ry_355164.html

    March 27, 2009 Friday

    Home hunters pack showflats in Balestier

    By Joyce Teo


    SOME home hunters have been packing showflats in the Balestier area and buying units, even as the general property market remains weak.

    City Developments (CDL) said yesterday it has sold 'about 60 per cent' of the 100 units at The Arte@Thomson at an average price of $880 per sq ft since a hush-hush preview started last Friday.

    The Arte has 336 fairly large units in two 36-storey blocks in Jalan Datoh, off Balestier Road.

    The 60 or so units were transacted at $852,800 to $2.46 million, said a CDL spokesman.

    Most of those sold were two- and three-bedroom units. The two-bedroom units are 1,055sqft, while nearly half of the project comprises three-bedroom units ranging from 1,399 sq ft to 1,625sqft.

    CDL said it had extended the interest absorption scheme (IAS) to buyers during the preview at no extra cost, but could not yet say how many buyers had taken advantage of it.

    'Buyers are given some time to decide if they wish to take up the IAS,' said the spokesman.

    The scheme allows buyers to defer the bulk of the purchase price until completion on condition that they take up a loan at the point of sale.

    The CDL spokesman said the $880 per sq ft price was being offered for a limited number of units only. 'We will be reviewing the price and adjusting it upwards progressively,' he said.

    The encouraging sales at The Arte came amid a still-slow market as some other launches see relatively weak interest. Demand for high-end homes, in particular, remains poor.

    New home sales in February were lifted to a relatively high level, but that was largely due to the strong sales at three mass to mid-end projects. Many buyers went for small units as their absolute prices were low, and hence affordable.

    Just last week, Keppel Land deferred the construction of two yet-to-be-launched projects - Marina Bay Suites in Marina Bay and Madison Residences in Bukit Timah - because of the slumping market.

    In the Balestier area, the new showflats benefited from spillover crowds from the various launches, said Savills Residential director Phylicia Ang, who is marketing the 104-unit Domus in the area.

    Released for sale two weeks ago, Domus, in Irrawaddy Road, welcomed visitors who had initially attended The Arte preview.

    So far, 33 units - out of the 59 launched at Domus - have been sold at an average of $900 per sq ft, or from $480,000 to $1.2 million, said Ms Ang.

    The sales included 20 one-bedroom units of 474sqft.

    Novelty Group's I-Residences, a 70-unit project in Irrawaddy Road, is about 50 per cent sold since its private preview late last year.

    Nearby, on the former Ruby Plaza site, Soilbuild had a preview for The Mezzo, which offers a 6 per cent rental guarantee for two years. It did not comment on sales.

Similar Threads

  1. The global housing market: Singapore is leading the pack
    By Arcachon in forum Coffeeshop Talk
    Replies: 0
    -: 16-04-19, 08:28
  2. Who thinks showroom will be pack this weekend?
    By dtrax in forum Singapore Private Condominium Property Discussion and News
    Replies: 92
    -: 16-09-12, 18:04
  3. Home hunters still in buying mood
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 03-07-12, 21:48
  4. Some property sites pack them in, some leave more breathing space
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 1
    -: 24-08-11, 23:55
  5. Home-hunters back on the prowl again
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 26-07-09, 17:08

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •