Condo Launch

New Condo Launch Property in Singapore

Interest in New Homes Wanes

Worse than expected performance in New Homes Sales

According to a research statistics, interest in private project dropped a little as per the results seen last weekend over many new homes showflat over the island. Projects that have seen robust sales are projects that have very affordable price ranges including projects in Sengkang West Way Condo. A new upcoming project is Riverbank new launch condo at the area.

Riverbank New Launch Condo

High end projects do not share the same story as those projects that are more affordable in terms of the price range. For example, Guocoland’s new project, Clermont Residence in Tanjong Pagar sold only a fraction of the units that are released for sale prompting the point stated above. A thing to note that Clermont Residence has a super 3 storey penthouse at 21,108sqft that post a $30million price tag. Comparatively, Alex Residences, which is beside the district of Clermont Residences, saw better than expected sales performance from the developer. The developer has previously reduced the prices of its units amidst a slowdown in the mid-high end property sector.

Sengkang West Way New Launch

Alex Residences was launched with much fanfare due to the pricing of its units. The first day of the launch saw 150 units off the shelf. The project also moved another 20 units in the following weekend. Considering the pricing due to its location, the project has done well relatively to the others. DUO Residences in Bugis will also be launched soon. Analyst predict that DUO will see strong demand due to the location as well as the indicative pricing released by the developer.

Sengkang West Way Condo

As the results indicated above, buyers typically are now more sensitive to the pricing of the units in new launches. Housing developers in Singapore are also facing tougher competition amidst more developers in the scene as well as the less than ideal among of interest by buyers due to loan restrictions. As such, analyst predict that new projects that are more affordable will see better interest. One such project will be Riverbank at Fernvale new launch condo in Sengkang West Way. The developer has bid for the piece of land at a very low price which translates to an approximate selling price of $1050psf. This should see great response from the local buyers

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