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PR Newswire
19-04-2011, 08:25 AM
Ah, more buying from HDB Upgraders! Should I expect anything less in Singapore, where the Govt has already announced FOUR sets of cooling measures? 
Apr 19, 2011
New launches drive brisk sales in new homes
Prices hold steady as developers play it safe, buyers stream back
By Esther Teo, Property Reporter
STRONG buying interest returned to the property market over the weekend and yesterday, with more than 430 homes snapped up on the back of a series of large property launches.
HDB upgraders came out in full force as suburban homes notched up brisk sales in areas such as Yishun and Upper Changi Road.
Market experts say project launches are a key factor in the strong sales. They expect sales this month to stay robust - likely to beat last month's 1,386 units - with more launches expected in the coming weeks.
Leading the pack was Frasers Centrepoint Homes and Far East Organization's 656-unit Eight Courtyards in Yishun where 202 units found buyers over its weekend preview sale.
The 99-year leasehold homes were priced at an average of $795 per sq ft (psf), which some experts say is noticeably lower than recent new mass market launch prices, and therefore attractive to buyers.
A one-bedroom unit costs $423,000 to $564,000, a two-bedder is between $637,000 and $751,000, while a three-bedder would set a buyer back by $703,000 to $1.03 million.
Nearby Canberra Residences, for example, launched for about $830 psf in January, while NV Residences in Pasir Ris was launched at about that average price in September last year.
However, experts say this is not an early sign of falling prices. Some point to slow sales of executive condo The Canopy, also in Yishun, as a factor that might have led the developers to adopt more cautious pricing in this instance.
Frasers said all its 30 one-bedroom apartments have been sold. Popular unit types also include two-, three- and four-bedroom apartments. HDB upgraders accounted for 63 per cent of buyers.
Singaporeans made up 67 per cent of buyers, permanent residents, 25 per cent while the rest were foreigners.
Hong Leong Holdings' 501-unit Hedges Park in Flora Drive in the Changi area moved 130 units at its preview at an average price of $850 psf.
The 99-year leasehold apartments sold included one- to four-bedroom units of 484 sq ft to 1,798 sq ft, and range in price from $466,000 for a one-bedder to $1.06 million for a four-bedder.
EL Development's 115-unit Skysuites 17 also sold nine units over the weekend, to bring its total sales to 99 units.
All 90 units at freehold project Centra Heights in Sims Avenue were also snapped up during its preview yesterday. Mr Melvin Ho, managing director of developer Fission Group, said the average price was about $1,250 psf - a level he said was 'realistic'.
'If not for the January measures, we would have priced the project about 5 to 10 per cent higher than we have. Our expectations have been tempered. We're not trying for a record or benchmark price,' he added.
A CDL spokesman said 35 units at H2O Residences have been sold this month, bringing the total sold to 290 of the 350 units launched so far.
Experts say strong buying interest means developers are likely to continue to hold prices steady. However, this month's sales are likely to surpass last month's as developers push out their launches to ride on the current wave of buying interest.
Mr Tan Kok Keong, OrangeTee's head of research and consultancy, added that with the economy doing well and with collective sales gaining momentum again, more buyers are entering the market.
He expects new private home sales this month to surpass the 1,500 units mark.
Dennis Wee Group director Chris Koh said buyers are streaming back again after a lull as the cooling measures were digested. But many of the buyers are owner-occupiers, he added.
'Developers watch one another and we are likely to see more projects pushed out as recently launched projects have done quite well. While volumes have increased, however, prices have held steady.'
esthert@sph.com.sg
Apr 19, 2011
New launches drive brisk sales in new homes
Prices hold steady as developers play it safe, buyers stream back
By Esther Teo, Property Reporter
STRONG buying interest returned to the property market over the weekend and yesterday, with more than 430 homes snapped up on the back of a series of large property launches.
HDB upgraders came out in full force as suburban homes notched up brisk sales in areas such as Yishun and Upper Changi Road.
Market experts say project launches are a key factor in the strong sales. They expect sales this month to stay robust - likely to beat last month's 1,386 units - with more launches expected in the coming weeks.
Leading the pack was Frasers Centrepoint Homes and Far East Organization's 656-unit Eight Courtyards in Yishun where 202 units found buyers over its weekend preview sale.
The 99-year leasehold homes were priced at an average of $795 per sq ft (psf), which some experts say is noticeably lower than recent new mass market launch prices, and therefore attractive to buyers.
A one-bedroom unit costs $423,000 to $564,000, a two-bedder is between $637,000 and $751,000, while a three-bedder would set a buyer back by $703,000 to $1.03 million.
Nearby Canberra Residences, for example, launched for about $830 psf in January, while NV Residences in Pasir Ris was launched at about that average price in September last year.
However, experts say this is not an early sign of falling prices. Some point to slow sales of executive condo The Canopy, also in Yishun, as a factor that might have led the developers to adopt more cautious pricing in this instance.
Frasers said all its 30 one-bedroom apartments have been sold. Popular unit types also include two-, three- and four-bedroom apartments. HDB upgraders accounted for 63 per cent of buyers.
Singaporeans made up 67 per cent of buyers, permanent residents, 25 per cent while the rest were foreigners.
Hong Leong Holdings' 501-unit Hedges Park in Flora Drive in the Changi area moved 130 units at its preview at an average price of $850 psf.
The 99-year leasehold apartments sold included one- to four-bedroom units of 484 sq ft to 1,798 sq ft, and range in price from $466,000 for a one-bedder to $1.06 million for a four-bedder.
EL Development's 115-unit Skysuites 17 also sold nine units over the weekend, to bring its total sales to 99 units.
All 90 units at freehold project Centra Heights in Sims Avenue were also snapped up during its preview yesterday. Mr Melvin Ho, managing director of developer Fission Group, said the average price was about $1,250 psf - a level he said was 'realistic'.
'If not for the January measures, we would have priced the project about 5 to 10 per cent higher than we have. Our expectations have been tempered. We're not trying for a record or benchmark price,' he added.
A CDL spokesman said 35 units at H2O Residences have been sold this month, bringing the total sold to 290 of the 350 units launched so far.
Experts say strong buying interest means developers are likely to continue to hold prices steady. However, this month's sales are likely to surpass last month's as developers push out their launches to ride on the current wave of buying interest.
Mr Tan Kok Keong, OrangeTee's head of research and consultancy, added that with the economy doing well and with collective sales gaining momentum again, more buyers are entering the market.
He expects new private home sales this month to surpass the 1,500 units mark.
Dennis Wee Group director Chris Koh said buyers are streaming back again after a lull as the cooling measures were digested. But many of the buyers are owner-occupiers, he added.
'Developers watch one another and we are likely to see more projects pushed out as recently launched projects have done quite well. While volumes have increased, however, prices have held steady.'
esthert@sph.com.sg
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