Sales in Core Central Region pick up in July
At the luxury Wallich Residence at Tanjong Pagar, 3 units were sold in July: the most up to date was for a 1,259 sq feet, two-bedroom unit on the 58th flooring that sold for $4.85 million ($3,851 psf), according to a caveat lodged on July 17. The 99-year leasehold, deluxe project by GuocoLand belongs to an integrated property development that includes the GuocoTower Grade-An office space tower, the luxury hotel Sofitel Singapore City Centre, and also a shopping complex linked directly to the Tanjong Pagar MRT Station in the CBD.
In prime District 9, The Avenir located at River Valley Close saw 8 units sold off in July. This brings overall sales in the development to 27 ever since its launch in January. The Avenir is a 376-unit high-end, freehold condominium developed collectively by Hong Leong Holdings as well as GuocoLand. It is a redevelopment of the former Pacific Mansion, which the joint venture obtained for $980 million in 2018, marking the top en bloc transaction price paid after the $1.3388 billion price tag that the preceding Farrer Court gotten in 2007. The latter has actually since been redeveloped into the 1,715-unit d’Leedon. perfect ten condo bukit timah is expected to do well to upon its launch this year.
The 8 units sold off at The Avenir in July varied from $1.5 million ($2,789 psf) for a 538 sq feet, one-bedroom unit, to $8 million ($3,318 psf) for a 2,411 sq ft, four-bedroom unit.
Built by CEL Development, the property arm of listed group Chip Eng Seng Corp, Kopar is a deluxe, 99-year leasehold condo situated on Makeway Road, simply a five-minute walk from the Newton Food Centre and the Newton MRT Stop. It furthermore features the stature of a District 9 address.
The second best-performing new launch in the CCR in July is The M on Middle Road, which saw 11 units sold off, ranging from 409 sq feet, one-bedroom units that yielded $992,200 ($2,426 psf), to 743 sq ft, two-bedroom units taken up at $1.89 million ($2,547 psf). The 522-unit The M by Wing Tai Holdings is certainly the best-selling project this year to date, with 70% of units sold on its debut weekend in February at approximately $2,450 psf. To date, 387 units (74%) of the new Bugis condo have been grabbed.
Throughout the 2nd phase of reinstating post-Covid-19 “circuit breaker”, there has actually been a pick-up in both enquiries as well as purchases of new launches in the Core Central Region (CCR). Interest has actually been particularly solid in new condos that had been launched in the first three months of this year right before the circuit breaker was imposed on April 7.
“Interest has come from both citizens as well as noncitizens,” says Dominic Lee, head of luxury team at PropNex Realty.
The new condo in the CCR that moved the most quantity of units in July was Kopar at Newton, which transacted 23 units as at July 19. Units sold range from 517 sq ft to 1,819 sq ft, with prices between $1.24 Mil ($2,404 psf) and $4.42 Mil ($2,428 psf). In June, 17 units were sold off, while 7 were snapped up in May, during the lockdown. The 378-unit Kopar was launched on the saturday and sunday of April 4-5, right before the beginning of the circuit breaker, and 74 units were sold.