Monday, June 04, 2012

91 units at Watercolours EC sold on 1st day of booking

Watercolours (pictured), an executive condominium (EC) in Pasir Ris sold over 90 units during its first day of booking last Friday.

The 99-year leasehold 416-unit project is the latest in a slew of new launches in Pasir Ris. Located at the junction of Pasir Ris Drive 3 and Pasir Ris Link, it is being developed by Huge Development, a consortium comprising UE E&C, Ho Lee Group, Evia Real Estate and GPS Alliance Development.

Jeffrey Hong, Chief Executive of GPS Alliance, said the 91 units were sold as of 8pm on 1 June. Three-bedder units were the most popular among buyers, who comprised first- and second-timers.

Prices of units range from S$570 psf to S$750 psf, which works out to an average of S$706 psf.

Two-bedroom units are priced from S$530,000 while three-bedders start from S$639,000. As for four-bedders, they start from S$885,000 while penthouses are priced from S$1.07 million. Dual-key units, which are designed for multi-generational living, are also being offered.

Launched on 1 May, the EC was twice oversubscribed when e-applications closed after a week. After making an e-application, the buyer becomes eligible to ballot for a unit.

Consultants had earlier predicted that the project would receive strong interest as it is similarly priced with public housing developments located near Pasir Ris MRT station.

However, recent sales were lower than expected, said Nicholas Mak, Research Head at SLP International, adding that the developers might have to review their marketing strategy.

View the original article here

Source From Property Guru

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