Singapore Property Sales Exceed Expectations
Tengah Garden Residences, Singapore's first private condominium and mixed-use development in the new town, has nearly sold out following its weekend launch. Half of the eight new residential launches in Singapore this year have achieved sales of above 90%. This is the fourth residential project this year to reach this sales milestone. The developer acquired the land at a lower cost than competitors. Nara Residences, located on Dairy Farm Road, was sold at $1,020 per square foot. This price is approximately $200 higher than a development in Tengah, though prices are similar. Resident First was launched this year at $2,180 per square foot. This includes back-to-back viewings and highlighting units that have already been sold. Buyers are encouraged to quickly select a unit to avoid missing out, with some experiencing high emotions during the process.
Topics
Developing
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Sources · 7 independent
“While Tengah's first private condominium is nearly sold out following its weekend launch, Tengah Garden Residences is also the first mixed-use development in the new town. The project sold more than 850 units snapped up by Sunday afternoon, marking the strongest private residential launch so far this year.”
“But we did see the big news that broke in the property market in Singapore and that's how Tengah Garden Residences pretty much sold out at its sales launch this past weekend.”
“at its sales launch this past weekend. That was fast. Only 10. of the new towns. First private condominium were left unsold as of 3pm on Sunday. I haven't checked in with any of the agents. Maybe those 10 are gone right now but apparently they were the bigger ones, the four room ones and all that. Well looking at the record sales of private condos like Skye Holland and Emeril of Katong, it makes sense given that the prime location”
“And also another point that in current situation with the price of oil.”
“It is pretty unusual. But it's becoming, this is not the first is the fourth project, you know, the fourth project, the fourth residential launches this year that achieve sales of above 90%.”
“So in terms of the price of 2120, I mean comparatively it's it's slightly cheaper than the other launches Do you think that that was a factor? Yes, it is. It is a factor. But the developer also bought the land at much cheaper than developers than the other sites.”
“Nara Residences which is at Dairy Farm Road. The land was sold at $1,020 per square foot. So higher, about, we're talking about $200 higher than that at Tengah, but the prices are about the same. Isn't that interesting? Now our resident first was also launched this year at the prices of 2180 per square foot.”
“this idea of getting the baller and going, like people are really at the site, like hopping and clasping their hands. for that perfect ballot number and things like this. There's a lot of emotions, man, running high at these things. But yeah, those are sales tactics as well”
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