Sales in Core Central Region pick up in July
Built by CEL Development, the property arm of listed conglomerate Chip Eng Seng Corp, Kopar is a luxury, 99-year leasehold condo situated on Makeway Road, just a five-minute stroll from the Newton Food Centre and the Newton MRT Station. It furthermore includes the eminence of a District 9 address.
At the luxury Wallich Residence at Tanjong Pagar, three units were moved in July: the latest was for a 1,259 sq ft, two-bedroom unit on the 58th floor that brought $4.85 million ($3,851 psf), according to a caveat lodged on July 17. The 99-year leasehold, luxury development by GuocoLand belongs to a mixed development that features the GuocoTower Grade-A workplace tower, the high-end hotel Sofitel Singapore City Centre, and a shopping mall linked straight to the Tanjong Pagar MRT Station in the CBD.
During the second period of resuming post-Covid-19 “circuit breaker”, there has actually been a pick-up in both enquiries and deals of new condos in the Core Central Area (CCR). Activity has been particularly solid in new launches that had actually been launched in the initial three months of this year right before the circuit breaker was enforced on April 7.
“Interest has come from both locals as well as noncitizens,” claims Dominic Lee, head of high-end group at PropNex Realty.
The project in the CCR that sold the most number of units in July was Kopar at Newton, which moved 23 units as at July 19. Units moved vary from 517 sq ft to 1,819 sq ft, with prices anywhere between $1.24 million ($2,404 psf) as well as $4.42 million ($2,428 psf).
The 2nd best-performing new launch in the CCR in July is The M on Middle Road, which saw 11 units sold, varying from 409 sq ft, one-bedroom units that yielded $992,200 ($2,426 psf), to 743 sq feet, two-bedroom units taken up at $1.89 million ($2,547 psf). The 522-unit The M by Wing Tai Holdings is unquestionably the very successful new launch this year to date, with 70% of units moved on its release day in February at approximately $2,450 psf. To date, 387 units (74%) of the new Bugis condo have actually been snapped up.
In prime District 9, The Avenir located at River Valley Close saw 8 units sold off in July. It is a redevelopment of the preceding Pacific Mansion, which the joint venture bought for $980 million in 2018, distinguishing the top en bloc purchase figure paid after the $1.3388 billion price tag that the previous Farrer Court gotten in 2007. The Landmark at Chin Swee Road is expected to do well to upon its launch this year.
The eight units sold at The Avenir in July varied from $1.5 million ($2,789 psf) for a 538 sq ft, one-bedroom unit, to $8 million ($3,318 psf) for a 2,411 sq ft, four-bedroom home.