SINGAPORE – Whistler Grand condominium in West Coastline received off to a flying begin on the 1st working day of its revenue launch
Proposed: Whistler Grand
Some a hundred and fifty of 240 units introduced yesterday – from 716 models in overall – were being snapped up as of 5pm, its developer, Town Developments Constrained (CDL), advised The Sunday Moments.
CDL head of property improvement, Ms Lee Mei Ling, cited “a combination of affordability, very good area and structure.” Many of the units were priced below the “sweet place of $1 million”, she included.
Savills Singapore senior director Alan Cheong claimed: “The one hundred fifty models offered represent a 21 per cent take-up price, which happens to be healthy. Following the total credit card debt servicing ratio (TDSR) was released in 2013, the take-up price was only about 50 percent of (yesterday’s) level.”
Quite a few first-time potential buyers and en bloc sellers looking for substitution homes had been drawn by Whistler’s typical advertising cost of $1,380 per square foot (psf). Exclusive costs begun from $608,000 for one-bedders. In May, Twin Vew, also in West Coast Vale, marketed 87 per cent of 520 units in a median price of $1,385 psf.
“$1,380 psf is often a good selection, bearing in mind the uncertainty in excess of the High-Speed Rail (HSR) project between Kuala Lumpur and Singapore, which accustomed to become a offering point,” Mr Cheong explained.
PropNex associate group director Jarvis Goh believes the HSR is only 1 component of the blueprint for the rejuvenation of the Jurong spot which incorporates turning it into a 2nd central organization district.
His client Jonathan Kee, forty, an engineer along with a first-time household buyer, thinks present-day rates are interesting specified the redevelopment potential clients in Jurong. He purchased a $700,000 one-bedroom device at the two 36-storey 99-year leasehold tower project being an investment decision.
“Given that the impending polices on shoebox models will clamp down on offer, and in addition due to the mortgage quantity I’m able to get, I like to acquire one particular now,” he mentioned.
One particular en-bloc vendor, who wanted to get recognized only as Mr Leow, forty five, purchased a three-bedroom device for $1.four million even though his existing apartment hasn’t attained 80 for each cent mandate to launch for just a collective sale. “If the en bloc sale isn’t going to endure, we’ll provide our condo and transfer to Whistler,” he added.
PropNex Realty chief govt officer Ismail Gafoor claimed Whistler’s solid consider up-rate shows that CDL’s “strategy to supply delicate charges post-cooling steps is working”.
“Of the 150 expressions of desire that PropNex agents acquired, a lot more than eighty committed to obtain, which happens to be a very good conversion amount. Normally, the effective conversion level of expressions of desire to genuine invest in is about forty for each cent. But our brokers had a little in excess of fifty per cent successful conversion,” he said.
Observers are now eyeing the take-up charge at impending revenue launches of Woodleigh Residences on Nov ten, Kent Ridge Hill Residences and Parc Esta.