Sales in Core Central Region pick up in July
Developed by CEL Development, the real estate arm of listed corporation Chip Eng Seng Corp, Kopar is a deluxe, 99-year leasehold residence located on Makeway Road, just a five-minute stroll from the Newton Food Centre as well as the Newton MRT Stop. It even includes the status of a District 9 address.
At the deluxe Wallich Residence at Tanjong Pagar, three homes were moved in July: the latest was for a 1,259 sq feet, 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, deluxe new condo by GuocoLand belongs to a mixed development that incorporates the GuocoTower Grade-An office space tower, the deluxe hotel Sofitel Singapore City Centre, as well as a shopping center linked directly to the Tanjong Pagar MRT Stop in the CBD.
The second best-performing project in the CCR in July is The M on Middle Road, which saw 11 homes moved, ranging from 409 sq feet, one-bedroom units that fetched $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 undoubtedly the very successful new launch this year to date, with 70% of units sold off on its release day in February at an average of $2,450 psf. To date, 387 units (74%) of the project have been snapped up.
During the second stage of recommencing post-Covid-19 “circuit breaker”, there has actually been a pick-up in both enquiries along with transactions of new launches in the Core Central Region (CCR). Interest has been specifically solid in projects that had actually been commenced in the initial three months of this year prior to the circuit breaker was established on April 7.
“Transactions has emerged from both locals and also outlanders,” states Dominic Lee, head of deluxe group at PropNex Realty.
The new condo in the CCR that sold the most number of units in July was Kopar at Newton at Makeway Avenue, which transacted 23 units as at July 19. Units sold range from 517 sq feet to 1,819 sq ft, with prices amongst $1.24 Mil ($2,404 psf) and $4.42 million ($2,428 psf). In June, 17 units were moved, while 7 were taken up in May, during the circuit breaker. The 378-unit Kopar was debuted on the saturday and sunday of April 4-5, just before the beginning of the circuit breaker, as well as 74 units were sold.
In prime District 9, The Avenir situated at River Valley Close saw eight units sold in July. This brings total sales in the property development to 27 from its debut in January. The Avenir is a 376-unit high-end, freehold apartment developed collectively by Hong Leong Holdings as well as GuocoLand. It is a redevelopment of the former Pacific Mansion, which the joint venture bought for $980 million in 2018, registering the highest en bloc purchase value paid after the $1.3388 billion cost that the preceding Farrer Court gotten in 2007. The last mentioned has since been redeveloped becoming the 1,715-unit d’Leedon.
The 8 units moved at The Avenir in July ranged from $1.5 million ($2,789 psf) for a 538 sq feet, one-bedroom unit, to $8 million ($3,318 psf) for a 2,411 sq ft, four-bedroom home.