Sales in Core Central Region pick up in July
Built by CEL Development, the real estate arm of listed corporation Chip Eng Seng Corp, Kopar is a luxury, 99-year leasehold apartment situated on Makeway Road, simply a five-minute walk from the Newton Food Centre and the Newton MRT Stop. It even comes with the reputation of a District 9 address.
The second best-performing new condo in the CCR in July is The M on Middle Road, which saw 11 units sold, varying from 409 sq feet, 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 undoubtedly the best-selling new condo this year to date, with 70% of homes sold off on its launch weekend in February at around $2,450 psf. To date, 387 units (74%) of the new Bugis condo have actually been bought.
In prime District 9, The Avenir positioned at River Valley Close saw eight units moved in July. It is a redevelopment of the preceding Pacific Mansion, which the joint venture picked up for $980 million in 2018, distinguishing the greatest en bloc purchase figure paid after the $1.3388 billion price tag that the preceding Farrer Court gotten in 2007.
The 8 units sold off at The Avenir in July ranged 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 unit.
At the deluxe Wallich Residence at Tanjong Pagar, three units were sold off in July: the most current 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, luxury development by GuocoLand belongs to an integrated property development that incorporates the GuocoTower Grade-A workplace tower, the luxury hotel Sofitel Singapore City Centre, and a shopping center linked directly to the Tanjong Pagar MRT Station in the CBD.
During the second phase of resuming post-Covid-19 “circuit breaker”, there has been a pick-up in both queries along with purchases of new launches in the Core Central Region (CCR). Interest has been especially strong in projects that had actually been launched in the 1st three months of this year prior to the circuit breaker was imposed on April 7.
“Transactions has actually emerged from both citizens and noncitizens,” claims Dominic Lee, head of luxury group at PropNex Realty.
The new condo in the CCR that sold the most number of units in July was Kopar at Newton, which transacted 23 units as at July 19. Units moved vary from 517 sq ft to 1,819 sq ft, with prices amongst $1.24 million ($2,404 psf) and $4.42 million ($2,428 psf).