Tuesday, March 27, 2012

Slew of new projects launching this week

Following record home sales in February, developers will be rolling out several housing projects into the market this week, amid fears over further cooling measures by the government.

The slew of new projects include the Natura project (pictured) from Macly Group and Roxy-Pacific Holdings, MCL’s Ripple Bay condo, Frasers Centrepoint’s Palm Isles development at Flora Drive and Far East Organization’s 416-unit Hillsta project at Choa Chu Kang Road.

Except for Natura, all the other projects are 99-year-leasehold.

The 10-storey Natura is located at Hillview Terrace and will likely be priced at an average of S$1,250 psf. Comprising one- to three-bedroom units and penthouses, the project is offering smaller-than-usual three-bedroom units, as small as 635 sq ft.

Ripple Bay offers apartment units close to Pasir Ris Beach with an average selling price of slightly over S$850 psf. It comprises 679 units spread across four 12-storey blocks and three 13-storey blocks, with one-bedders and two-bedders comprising 18 percent and 42 percent of the units respectively. The one-bedder 484 sq ft units are priced from S$415,130 (S$858 psf) while 990 sq ft three-bedders start from S$795,500 (S$805 psf).

Units at Palm Isles will be offered at an average price of between S$850 psf and S$880 psf. Featuring 429 residences; the project includes a low-rise block with 28 garden homes inclusive of individual private carpark lots and gardens.

Peter Ow, Managing Director at SLP International, noted that developers are launching projects soonest to prevent the effects of possible cooling measures from the government, as a result of strong private homes sales in the primary market last month.

“To ensure a good take-up rate, developers are likely to price new mass market condo launches say about S$10 to S$15 psf below existing nearby projects,” said Ow.

View the original article here

Source From Property Guru

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