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21-12-2010, 07:13 AM
Dec 21, 2010
Two luxury housing projects 40% sold
By Cheryl Lim
ONLY 40 per cent of the posh Ritz-Carlton Residences in Cairnhill Road has been sold since its launch in 2007 but developer KOP Properties is confident the luxury property segment will recover soon.
The project, which had its topping-out ceremony yesterday, is priced at around 20 per cent below the market peak of 2007.
KOP Properties believes that factor means there is scope for prices to head higher than the range of $3,300 to $5,190 per square foot (psf) achieved so far.
A penthouse was sold this month at a price of $4,500 psf.
Chief executive Leny Suparman said yesterday that the project has seen a 'good mix' of buyers, with foreigners making up about 50 per cent.
The freehold 36-storey development is touted as Asia's first full strata-titled luxury residential project.
It comprises 56 apartments and two penthouses. Sizes range from 2,831 sq ft for a three-bedroom unit to 3,057 sq ft for a four-bedroom unit.
The development will house three sky terraces with facilities like a lap pool, cafe, library, wine cellar and an open kitchen and entertainment area.
The project is expected to be ready for occupation late next year.
Another KOP project, Hamilton Scotts Residences in Scotts Road, is also about 40 per cent sold.
The development comprises 52 units and four penthouses complete with ensuite elevated car porches.
It is priced between $2,800 psf and $5,000 psf and is expected to be ready for occupancy by the end of next year.
In other property moves, Spottiswoode Residences near Tanjong Pagar MRT station has sold 285 units, more than 80 per cent of its 351 flats in total.
The freehold condo has a starting price of $1,720 psf.
A CapitaLand spokesman said the d'Leedon condo in King's Road has sold about 93 per cent of the 250 units released so far.
Keppel Land's Lakefront Residences has sold 466 of the 500 units launched. The condo is near Lakeside MRT station and the Jurong Lake District, an upcoming regional centre.
Two luxury housing projects 40% sold
By Cheryl Lim
ONLY 40 per cent of the posh Ritz-Carlton Residences in Cairnhill Road has been sold since its launch in 2007 but developer KOP Properties is confident the luxury property segment will recover soon.
The project, which had its topping-out ceremony yesterday, is priced at around 20 per cent below the market peak of 2007.
KOP Properties believes that factor means there is scope for prices to head higher than the range of $3,300 to $5,190 per square foot (psf) achieved so far.
A penthouse was sold this month at a price of $4,500 psf.
Chief executive Leny Suparman said yesterday that the project has seen a 'good mix' of buyers, with foreigners making up about 50 per cent.
The freehold 36-storey development is touted as Asia's first full strata-titled luxury residential project.
It comprises 56 apartments and two penthouses. Sizes range from 2,831 sq ft for a three-bedroom unit to 3,057 sq ft for a four-bedroom unit.
The development will house three sky terraces with facilities like a lap pool, cafe, library, wine cellar and an open kitchen and entertainment area.
The project is expected to be ready for occupation late next year.
Another KOP project, Hamilton Scotts Residences in Scotts Road, is also about 40 per cent sold.
The development comprises 52 units and four penthouses complete with ensuite elevated car porches.
It is priced between $2,800 psf and $5,000 psf and is expected to be ready for occupancy by the end of next year.
In other property moves, Spottiswoode Residences near Tanjong Pagar MRT station has sold 285 units, more than 80 per cent of its 351 flats in total.
The freehold condo has a starting price of $1,720 psf.
A CapitaLand spokesman said the d'Leedon condo in King's Road has sold about 93 per cent of the 250 units released so far.
Keppel Land's Lakefront Residences has sold 466 of the 500 units launched. The condo is near Lakeside MRT station and the Jurong Lake District, an upcoming regional centre.
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