Waterbay Executive Condominium at Punggol Selling Hot!

RESIDENTIAL MARKET

206 Waterbay units sold on first day

Some 206 of the 383 units available at Chinese developer Qingjian Realty (South Pacific)'s executive condominium (EC) project, Waterbay EC, were sold by 5pm yesterday, the first day bookings opened. Property consultants had earlier expected it to garner healthy interest from buyers because of its location.

The development, which sits at the junction of Punggol Central and Edgedale Plains, is a seven-minute walk to the Punggol MRT station, Punggol bus interchange and future shopping mall Waterway Point.

According to Qingjian, the three-bedroom and four-bedroom dual-key units were popular with buyers. Demand from second-time buyers was also strong, with all of the units allocated to this section of the market snapped up. According to new Housing and Development Board (HDB) rules, 30 per cent of units at EC projects have to be set aside for second-time buyers.

Donald Ng, senior marketing manager at Qingjian, said that 80 per cent of the dual-key three- and four-bedroom units, and the five-bedroom homes, have been sold. The plan is to build 17 units of each of the three home types at Waterbay.

Prices ranged from $560,000 for a two-bedroom unit and $680,000 for a three-bedroom unit, to $824,000 for a four-bedroom unit and $1.04 million for a five-bedroom unit.

On a per square foot (psf) basis, prices ranged from $688 psf, to $775 psf. The average price psf was $720.

Apartment sizes start at 753 square feet for a two-bedder, to 2,669 sq ft for a five-bedroom apartment.

Earlier, property consultants had predicted strong interest in the project, noting that EC developments in Punggol, Sengkang and Upper Serangoon have been "generally well received" despite the many private housing projects launched in that area.

Heron Bay at Upper Serangoon View, for instance, saw 1,664 interested buyers for its 394 units when it was launched last month.

Project Details for Waterbay : http://steoproperty.blogspot.sg/2012/09/waterbay-upcoming-punggol-ec-e-app.html

Source: Business Times – 20 October 2012