Analysts
said this reflected pent-up demand from buyers after a lull in launches late
last year, as well as expectations that prices will keep going up.
At
Echelon, a 508-unit condo in Alexandra View which was officially launched at
the weekend, 390 units had been sold as of Sunday, developer City Developments
(CDL) said yesterday.
This
means that nearly 200 more units at the 99-year leasehold project were sold
after the Dec 28 preview when more than 200 units were snapped up in a single
day.
CDL
said the units were launched at an early-bird price of $1,700 per sq ft (psf)
on average, with increases of 2 per cent to 4 per cent for subsequent releases.
Singaporeans
made up 80 per cent of the buyers, with the rest being permanent residents or
foreigners from countries including Malaysia, Indonesia and China.
The
buyers are likely to be mainly investors aiming to rent out units and those
attracted by the project's proximity to Redhill MRT station, said SLP International
research head Nicholas Mak.
He
said these investors would be prepared to hold their units for three to four
years.
Weekend
sales were also strong at another condo, Sea- Suites, which is being built in
Pasir Panjang by boutique developer Link (THM) Group.
The
Straits Times understands that almost all the units have been sold, though the
freehold project is fairly small with only 52 apartments.
Not
to be outdone, ECs such as CityLife @ Tampines also reported healthy sales
figures over the same period.
More
than 90 per cent of the 514 units at CityLife had been sold as of yesterday,
since its launch on Dec 29.
A
few more launches are expected soon, such as the 810-unit La Fiesta condo next
to Sengkang MRT station which opened for viewing last Saturday. Average prices
at La Fiesta are expected to be more than $1,100 psf.
Source: The Straits Times
–8 January 2013
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