Monday, July 16, 2012

New residential launches attract keen buyers

Parc Olympia (pictured), a new 486-unit condo development at Flora Drive, has sold around 80 of the 118 units released. Koh Brothers, the project’s developer, was offering the units at an average price of S$820 psf after a 16 percent early-bird discount.

Market watchers expect the developer to release more units at the 99-year leasehold project. Located beside the Japanese School, the development features one- to four-bedroom units.

At the same time, City Developments Ltd (CDL) and Hong Realty were said to have sold 25 of the 40 terrace homes released at the preview of Haus@Serangoon Garden.

Prices range from S$2.4 million to S$2.7 million for intermediate terrace houses while corner units cost more as they have bigger plot areas.

The 97-unit project comprises 79 intermediate terrace homes and 18 corner units. It has been given the top-tier Green Mark Platinum award by the Building and Construction Authority (BCA) for its eco-efficient layout and orientation.

Meanwhile, CapitaLand’s Interlace condo in Depot Road saw the launch of two new showflats on Saturday. Ground-floor or garden home units will be integrated in the actual 99-year leasehold project.

Separately, Wee Hur Holdings is set to launch the 618-unit Parc Centros condo near Punggol MRT station, priced at S$950 psf on average. The project will feature one- to five-bedroom apartments and penthouses.

Another upcoming launch is the 510-unit V on Shenton (Five on Shenton) by United Industrial Corporation. Units at the 54-storey residential tower will likely go at an average price of S$2,300 to S$2,500 psf.

With the significant amount of supply coming from recent launches, developers need to be “sensible with pricing”, said a property consultant.

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