Two newly launched private residential projects reported brisk sales over the weekend, an indication that units within integrated developments remain popular despite the lacklustre housing market.
The Wisteria in Yishun sold more than 80 percent, or 116 of the 138 units released for sale.
Its developer Northern Resi initially launched 108 units on Saturday (12 March), priced from $1,030 psf to $1,050 psf on average. Subsequently, another 30 units were released due to keen interest for the smaller units, leading to more sales.
“Buyers are drawn to this project because of its affordability and its convenience of being above a lifestyle mall,” said Michael Leong, CEO of Keppel Land Retail Management, the project and marketing manager for The Wisteria.
The 99-year leasehold project features 216 condominium units spread across three nine-storey towers, built on top of a two-storey shopping mall. Prospective buyers can choose from one- to four-bedroom apartments, with unit sizes ranging from 441 sq ft to1,173 sq ft.
The Wisteria is expected to be completed by the end of 2018.
Meanwhile, CapitaLand’s 268-unit Cairnhill Nine development in the Orchard area has found buyers for 70 percent, or 134 of the 200 units launched on Saturday.
The 99-year leasehold condominium is part of an integrated development that includes a serviced residence called the Ascott Orchard Singapore.
The units sold include one, two, and four-bedroom units as well as penthouses, measuring between 591 sq ft and 3,864 sq ft. The one-bedroom+guest units have been the most well-received to date, with 80 percent of the 90 apartments sold.
Around 50 percent of the project’s buyers are Singaporeans, while the rest are from Indonesia, Malaysia and China.
Commenting, a spokesman from CapitaLand said: “We are pleased with the strong response to the VIP preview and official launch, and will be stepping up our marketing efforts by having roadshows in cities such as Jakarta, Surabaya, Solo, Shanghai and Hong Kong.”
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