Wednesday, May 09, 2012

Sales at Eight Riversuites up to 200 units

United Engineers Limited (UEL) has sold around 200 units at its Eight Riversuites condo project (pictured) in Whampoa near Boon Keng MRT station, according to the latest report by The Business Times.

It noted that the average price of the project, after discounts, is around S$1,300 psf to S$1,400 psf.

While the company declined to comment on the average price and the number of units sold at the project, a report from UBS Investment Research put the figure at “more than 200 units” and the average price at S$1,400 psf after deducting the five percent early-bird discount.

Located at the corner of Bendemeer Road and Whampoa East, the 99-year leasehold project comprises 862 units including 19 strata terrace homes.

Housed in four blocks, the majority of the units are two- and three-bedroom apartments, with the one-bedders (mostly about 450 sq ft) and two-bedders (the majority of which are around 700 sq ft) being the most popular units.

The UBS report also noted that average prices for units stood at S$600,000 for a one-bedder and S$900,000 for a two-bedroom unit.

UEL acquired the site at a state tender in April 2011, after it offered the highest bid of S$543 million or about S$774 psf ppr.

View the original article here

Source From Property Guru

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