70 Units Sold During The Launch Weekend
Residential property developer Allgreen Residence Ltd claims it marketed a total amount of 70 units at 4th Method Residences on the first weekend of launch (Jan 19-20). This represents 42% of the 168 systems launched in phase one of the domestic condominium situated off Bukit Timah Roadway in prime District 10.
The ordinary rate attained for systems marketed in the very first phase was $2,375 psf, after a 5% plus 3% early riser discount rate. According to Allgreen, about 85% of the buyers are Singaporeans, with the staying 15% comprised of Singapore long-term homeowners and foreigners. About 70% of the purchasers are residents in prime Areas 10 as well as 11 as well as those in the edge areas of Areas 5, 15 as well as 21.
“We are pleased with the healthy and balanced take-up in Fourth Avenue Residences,” claims a spokesman from Allgreen Characteristics. “The job has solid location features, as well as great development possibility as well as need.” Fourth Avenue Residences is located beside the Sixth Avenue MRT terminal on the Downtown Line and also it is “the only task with a direct covered linkway to the MRT terminal”, mentions Allgreen.
The 70-unit sales achieved at Fourth Avenue Residences is “remarkable” when compared to the month-to-month take-up of 32 systems for new homes in the Core Central Region (consisting of prime Districts 9, 10 as well as 11) from August to December 2018, following the cooling down steps last July, claims Jack Chua, PERIOD Realty Network CEO.
Around 70% of the units sold at 4th Avenue Residences were one- and two-bedroom apartments, includes Chua, while three- as well as four-bedroom systems composed the remaining 30%.
The average price of $2,375 psf represents “a new rate criteria for non-landed homes in the prime Bukit Timah area”, states Alice Tan, director of domestic task advertising and marketing at Knight Frank. Besides the locational features, buyers were drawn in by the job quality and also the designer’s track record, adds Tan, and were consequently, “typically receptive of the cost used”. Thus, need for prime-facing as well as attractively-priced devices was “well-balanced”, she observes.
Based upon the total amount of 476 devices in the task, the sales rate attained for the initial weekend break of the launch is 14.7%. “It’s motivating that Fourth Avenue Residences offered concerning 15% of its overall systems at the new rate factors,” states Ismail Gafoor, exec chairman and also Chief Executive Officer of PropNex.