Good take-up seen at home launches

Published November 29, 2010

Good take-up seen at home launches
CapitaLand sells 48 units at d'Leedon preview


By EMILYN YAP


(SINGAPORE) Property developers continued to log sales at their residential projects over the past week.


During the weekend, CapitaLand sold 48 units at d'Leedon - where Farrer Court used to be - for an average price of $1,680 per sq ft. It previewed the project only to former Farrer Court owners and 266 households visited the show gallery.

Units sold included one-plus-study units, two-bedders and three bedders. The former residents were able to choose from 200 units of various sizes across all floors in two towers.

The 99-year leasehold d'Leedon will have 1,703 apartments spread over seven towers and 12 semi-detached houses. Official sales will start this Thursday.

'We are very happy with the sales response,' said CapitaLand Residential Singapore CEO Wong Heang Fine. 'We expect more response from owners who could not make it for this preview.'

Another developer, UOL Group, has sold a total of 252 units out of 320 launched at the freehold Spottiswoode Residences. Selling prices ranged from $1,720 to $2,270 psf.

Sales at the project near Tanjong Pagar have been brisk. It was first launched about two weeks ago and 130 units were taken up during a three-day preview, out of 150 released then. The highest price achieved for those 130 units was $2,150 psf.

Over at Tampines, Sim Lian Group has sold 375 units at Waterview at an average price of $838 psf. It has launched 500 units in the 99-year leasehold project so far.

Sales have risen from last Monday, when the developer said that it sold 332 units.

Weekend sales figures for both Spottiswoode Residences and Waterview were not available. It is therefore unclear if the pace of home buying has slowed after more measures to keep the property market stable were announced last Thursday.

Concerned that hot money and low interest rates would send private home prices rising too quickly, the government pledged to release more land next year. Sites which can yield a record 14,310 new homes will be available under the H1 2011 land sales programme.

On Saturday, National Development Minister Mah Bow Tan also stressed that the government will introduce more measures to curb property prices if necessary.


Source: http://www.businesstimes.com.sg/