Almost 500 new homes snapped up over past week

Nearly 500 new residences were sold over the past week, as developers stepped up their marketing efforts, fuelled by good transaction figures last month.

In January, 1,872 new private residences were snapped up, the highest since November 2010, and property developers want to keep the ball rolling.

Developers are speeding up the launch of more homes to ride on positive buying sentiment and to secure sales in case additional cooling measures are implemented, according to Colin Tan, Research Head at Chesterton Suntec International.

“The sales figures show you the number of investors that are in the market…low borrowing costs have left them with few alternatives, liquidity doesn’t know where else to go,” he said.

The leader in property sales for the week was Macly Group’s Guillemard Edge (pictured) near Dakota MRT station, which posted over 230 sales. Residences in the 275-unit development were priced between S$1,150 psf and S$1,250 psf. Over half of the units were 409 sq ft one-bedders with an indicative price of around S$500,000.

The 689-unit Parc Rosewood in Woodlands, which was jointly developed by Fragrance Group and World Class Land, sold 120 units last week at an average price of S$1,000 psf. The price was higher than the S$925 psf to S$998 psf price range in January.

Meanwhile, City Developments sold over 40 units at The Palette, Hedges Park, H2O Residences and NV Residences, as well as The Rainforest and Blossom Residences.

Similarly, Far East Organization sold 77 units across all its developments, including Skyline@Orchard Boulevard, The Scotts Tower and The Greenwich.

Source : PropertyGuru – 22 Feb 2012

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