Two new condos put up for sales next weeks
The property market is going to pick up the pace over the next few weeks with two new lauch condominiums come onto the market. Sales will be closely followed for signs of how the sector might price in this early year.
The Clement Canopy Condo go on sale
The Clement Canopy Showflat opening for 505 premium apartments, with a price from $850,000 for 2-bedroom in TBA block on Saturday will began the gambit. Brand new condo developed by UOL and SingLand, both are award winning companies, with the UOL Group receiving citations from the Urban Land Institute and the goverment. They are working on a joint venture, a 1.3 ha property along Clementi Anveue 1, making this development the most prestigious in the area.
In adition, Grandeur Park Residences is developed by CEL Development, that will offer 720-unit for showflat viewing in the flowwing week. Seaside Residences in Siglap and Park Place Residences at Paya Lebar Quarter are estimated to top out in April.
Grandeur Park Residences and The Clement Canopy will be put in the competition with Seaside Residences and Park Place Residences of 843-unit, 429-unit respectively.
Chief executive Raymond Chia and Chip Eng Seng chairman told that they were hoping these project get the similar level of success as well as High Park Residences in Sengkang, which had sold mostly 1,100 of the 1,399 aparment in the first sales week in July, 2015.
Mr Chia said that High Park had to be competed against new launches in the region, however it managed to catch the attention with “good product and affordability”.
CEL executive director Chng Chee Beow said: "With good location and good design, we think that, in this challenging market, we should do well."
Mr Chia also said that Grandeur Park Average Price will be about $1,350 per sq ft (psf). The condo's units range from 1 to 5-bedrooms, with prices from $550,000 for one-bedroom apartment. The 2-bedroom that takes 45% of the total units' quantity will start from $700,000. Grandeur Park will focus on welles, collaborated to Amore Fitness to operate spa facilities and fitness classes.
According to Analysts, CEL is using a priced-to-sell strategy for the larger project, because of unstable market. It has gained the higher average transacted prices in the vicinity .