SINGAPORE – Whistler Grand condominium in West Coastline acquired off to a traveling begin on the initially day of its revenue start
Put Up Here: Whistler Grand floor plan
Some 150 of 240 units released yesterday – out of 716 models in whole – were being snapped up as of 5pm, its developer, City Developments Confined (CDL), instructed The Sunday Occasions.
CDL head of property progress, Ms Lee Mei Ling, cited “a blend of affordability, great site and structure.” Lots of the models had been priced underneath the “sweet location of $1 million”, she added.
Savills Singapore senior director Alan Cheong said: “The one hundred fifty models sold represent a 21 for every cent take-up level, that is nutritious. Just after the complete debt servicing ratio (TDSR) was released in 2013, the take-up fee was only about fifty percent of (yesterday’s) fee.”
Several first-time purchasers and en bloc sellers trying to get alternative households were being drawn by Whistler’s ordinary selling price of $1,380 for each sq. foot (psf). Specific selling prices commenced from $608,000 for one-bedders. In May perhaps, Twin Vew, also in West Coastline Vale, offered 87 for every cent of 520 models at a median price of $1,385 psf.
“$1,380 psf is a excellent variety, bearing in mind the uncertainty in excess of the High-Speed Rail (HSR) challenge between Kuala Lumpur and Singapore, which accustomed to become a selling place,” Mr Cheong claimed.
PropNex affiliate group director Jarvis Goh believes the HSR is just 1 element of the blueprint for the rejuvenation of the Jurong location which includes turning it into a 2nd central small business district.
His shopper Jonathan Kee, forty, an engineer in addition to a first-time dwelling customer, believes present selling prices are appealing offered the redevelopment prospective buyers in Jurong. He acquired a $700,000 one-bedroom unit at the two 36-storey 99-year leasehold tower venture as an financial commitment.
“Given that the approaching restrictions on shoebox units will clamp down on offer, and likewise because of the loan volume I’m able to get, I choose to get one particular now,” he stated.
One en-bloc vendor, who wished for being identified only as Mr Leow, forty five, acquired a three-bedroom unit for $1.4 million while his latest rental has not attained 80 per cent mandate to start for just a collective sale. “If the en bloc sale does not experience, we will provide our condo and go to Whistler,” he additional.
PropNex Realty chief government officer Ismail Gafoor stated Whistler’s robust choose up-rate demonstrates that CDL’s “strategy to supply delicate selling prices post-cooling measures is working”.
“Of the 150 expressions of interest that PropNex agents bought, additional than eighty fully commited to buy, and that is a great conversion level. Usually, the thriving conversion level of expressions of fascination to genuine obtain is about 40 for each cent. But our brokers experienced slightly over fifty for every cent productive conversion,” he mentioned.
Observers at the moment are eyeing the take-up rate at upcoming profits launches of Woodleigh Residences on Nov 10, Kent Ridge Hill Residences and Parc Esta.