Sales in Core Central Region pick up in July
Developed by CEL Development, the real estate arm of listed conglomerate Chip Eng Seng Corp, Kopar is a deluxe, 99-year leasehold condominium located on Makeway Road, only a five-minute stroll from the Newton Food Centre as well as the Newton MRT Stop. It also features the reputation 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, varying from 409 sq feet, one-bedroom units that brought $992,200 ($2,426 psf), to 743 sq feet, two-bedroom units snapped up at $1.89 million ($2,547 psf). The 522-unit The M by Wing Tai Holdings is undoubtedly the very popular new launch this year to date, with 70% of units moved on its debut weekend in February at approximately $2,450 psf. To date, 387 units (74%) of the new Bugis condo have been grabbed.
During the 2nd phase of resuming post-Covid-19 “circuit breaker”, there has actually been a pick-up in both inquiries as well as purchases of new launches in the Core Central Area (CCR). Interest has been especially solid in new launches that had actually been launched in the first three months of this year before the circuit breaker was imposed on April 7.
“Activities has come from both outlanders and also citizens,” claims Dominic Lee, head of high-end group at PropNex Realty.
The new condo in the CCR that moved the most number of units in July was Kopar at Newton, which moved 23 units as at July 19. Units sold vary from 517 sq ft to 1,819 sq feet, with prices between $1.24 million ($2,404 psf) as well as $4.42 million ($2,428 psf).
At the luxury Wallich Residence at Tanjong Pagar, three units were moved in July: the current was for a 1,259 sq ft, two-bedroom unit on the 58th flooring that brought $4.85 million ($3,851 psf), according to a caveat lodged on July 17. The 99-year leasehold, luxury development by GuocoLand is part of a mixed property development that includes the GuocoTower Grade-An office tower, the high-end hotel Sofitel Singapore City Centre, and also a shopping mall linked straight to the Tanjong Pagar MRT Station in the CBD.
In prime District 9, The Avenir situated at River Valley Close saw eight units moved in July. It is a redevelopment of the preceding Pacific Mansion, which the joint venture acquired for $980 million in 2018, distinguishing the top en bloc investment price paid since the $1.3388 billion figure tag that the former Farrer Court gotten in 2007.
The 8 units sold 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 home. Ryse Residences at Pasir Ris Central is expected to do well to upon its launch this year.