High Sale Rate Of Units Sold On Launch Weekend
Building designer Allgreen Properties Ltd says it sold a total of 70 systems at 4th Avenue Residences on the very first weekend of launch (Jan 19-20). This represents 42% of the 168 units released in phase one of the domestic condo situated off Bukit Timah Roadway in prime Area 10.
The ordinary cost accomplished for devices offered in the first stage was $2,375 psf, after a 5% plus 3% early bird discount. According to Allgreen, about 85% of the customers are Singaporeans, with the staying 15% made up of Singapore irreversible residents and immigrants. About 70% of the customers are homeowners in prime Districts 10 and 11 in addition to those in the fringe areas of Districts 5, 15 and also 21.
“We are pleased with the healthy take-up in 4th Method Residences,” claims a representative from Allgreen Qualities. “The job has solid location features, and great growth capacity and also need.” Fourth AvenueResidences is located alongside the Sixth Avenue MRT terminal on the Downtown Line and also it is “the only task with a straight protected linkway to the MRT terminal”, explains Allgreen.
The 70-unit sales achieved at Fourth Avenue Residences is “amazing” when compared to the monthly take-up of 32 units for brand-new homes in the Core Central Area (consisting of prime Areas 9, 10 and 11) from August to December 2018, adhering to the cooling down steps last July, says Jack Chua, ERA Realty Network CEO.
Around 70% of the units sold at 4th Method Residences were one- and also two-bedroom apartment or condos, adds Chua, while 3- and also four-bedroom devices composed the remaining 30%.
The typical price of $2,375 psf stands for “a new cost benchmark for non-landed homes in the prime Bukit Timah place”, claims Alice Tan, supervisor of household task advertising and marketing at Knight Frank. Besides the locational features, buyers were drawn in by the project high quality and also the programmer’s track record, adds Tan, as well as were therefore, “typically responsive of the price provided”. Hence, demand for prime-facing and attractively-priced units was “healthy”, she observes.
Based upon the total amount of 476 units in the job, the sales rate achieved for the initial weekend break of launch is 14.7%. “It’s encouraging that Fourth Avenue Residences marketed regarding 15% of its overall units at the brand-new cost points,” says Ismail Gafoor, exec chairman and CEO of PropNex.
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