65 units sold at Bartley Residences

After a 20 percent discount, some 65 units have been sold at Bartley Residences (pictured) at an average price of S$1,240 psf, with 90 percent of the buyers being Singaporeans and permanent residents (PR).

During yesterday’s preview, the developer released 120 units in the 99-year leasehold private condo project, which is located next to Bartley MRT station. The development comprises one- to four-bedroom units, as well as dual-key units, with absolute prices ranging between S$610,000 and S$670,000 for one-bedroom units and from S$1.8 million to S$2.1 million for a dual-key unit.

“The figures are encouraging because the launch is in the middle of the week. I sense this development will gather pace towards the end of the week, and that might give a truer reflection. The developers may have launched it (on Tuesday) more to get a sense of ground sentiment,” said Donald Han, Special Adviser at HSR Property Group.

The S$1,240 psf price tag for each unit was achieved after the two percent district discount and 18 percent absorption discount, which includes the standard three percent buyer’s stamp duty discount and three percent early bird discount.

“At S$1,240, the developer is aware of market conditions and is clearly pricing the project at the right level,” noted Lee Sze Teck, Senior Manager at DWG Research and Consultancy.

The project is developed by Bartley Development, a joint venture (JV) company between City Developments, TID Residential and Hong Leong Holdings.

Source : PropertyGuru – 22 Feb 2012

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