SINGAPORE – Whistler Grand condominium in West Coast bought off into a flying begin on the first day of its product sales launch
Approved website: Whistler Grand location
Some a hundred and fifty of 240 units launched yesterday – outside of 716 models in overall – have been snapped up as of 5pm, its developer, City Developments Limited (CDL), explained to The Sunday Occasions.
CDL head of house growth, Ms Lee Mei Ling, cited “a mix of affordability, very good spot and design.” Many of the models had been priced down below the “sweet place of $1 million”, she additional.
Savills Singapore senior director Alan Cheong mentioned: “The a hundred and fifty models bought signify a 21 per cent take-up level, that is nutritious. Just after the full credit card debt servicing ratio (TDSR) was introduced in 2013, the take-up level was only about 50 percent of (yesterday’s) level.”
Many first-time customers and en bloc sellers in search of substitution residences had been drawn by Whistler’s regular marketing price of $1,380 per square foot (psf). Exclusive price ranges commenced from $608,000 for one-bedders. In May perhaps, Twin Vew, also in West Coast Vale, sold 87 per cent of 520 units in a median price of $1,385 psf.
“$1,380 psf is usually a fantastic amount, considering the uncertainty about the High-Speed Rail (HSR) project amongst Kuala Lumpur and Singapore, which used to become a providing position,” Mr Cheong claimed.
PropNex associate team director Jarvis Goh believes the HSR is just one particular ingredient of the blueprint for the rejuvenation of the Jurong place which incorporates turning it right into a 2nd central enterprise district.
His customer Jonathan Kee, 40, an engineer in addition to a first-time property consumer, believes present selling prices are beautiful specified the redevelopment prospective clients in Jurong. He purchased a $700,000 one-bedroom device at the two 36-storey 99-year leasehold tower job being an expense.
“Given that the upcoming regulations on shoebox models will clamp down on provide, and likewise as a result of the bank loan quantity I am able to get, I like to purchase a person now,” he claimed.
A single en-bloc vendor, who desired to get regarded only as Mr Leow, 45, bought a three-bedroom device for $1.4 million while his present apartment has not obtained 80 per cent mandate to start for the collective sale. “If the en bloc sale does not go through, we’re going to market our condominium and move to Whistler,” he added.
PropNex Realty main govt officer Ismail Gafoor reported Whistler’s strong take up-rate shows that CDL’s “strategy to offer delicate costs post-cooling measures is working”.
“Of the 150 expressions of interest that PropNex agents obtained, a lot more than 80 committed to get, that is a fantastic conversion charge. Commonly, the thriving conversion level of expressions of interest to precise acquire is about forty for every cent. But our brokers had a bit above fifty for each cent profitable conversion,” he mentioned.
Observers are actually eyeing the take-up level at forthcoming gross sales launches of Woodleigh Residences on Nov 10, Kent Ridge Hill Residences and Parc Esta.