CapitaLand confident Sky Habitat will be well received

The most expensive suburban condominium in Singapore, Sky Habitat, was launched on Saturday.

It was crowds galore at Sky Habitat’s showflat on Saturday with potential homebuyers and curious residents from the Bishan neighbourhood checking out the designer project.

The development in Bishan Central is going for S$1,700 to S$1,800 per square foot and a three-room unit, which starts at 1,216 square feet, cost S$1.92 million.

Developer CapitaLand declined to give any sales figure, but said response to the launch is “within expectation” and is confident the project will be well received.

Homebuyers Channel NewsAsia spoke to say the property’s location is its biggest draw.

“The location is great. Bishan is at the intersection of circle line and north-south line. When you look at all the suburbs such as Ang Mo Kio and Toa Payoh, I think Bishan beats the rest of them. Not only is it a newer estate, it’s very self-sufficient,” said one homebuyer.

“This is a very prime location and it’s very convenient. I’m actually looking for something that’s near MRT stations so this is one of the better locations I’ve come across so far,” said another homebuyer.

One homebuyer said: “The location is near the MRT station and the Circle Line and it’s very convenient for me to get to town for work, but it is a bit pricey.”

To sweeten the deal, the developer is offering homebuyers discounts of up to five per cent this weekend.

CapitaLand said it is targeting families looking for bigger units.

CapitaLand Residential Singapore CEO Wong Heang Fine, said: “A lot of the buyers are buying for the next generation. They have been buying the three-bedroom, the bigger units to create the family nucleus in Bishan.”

Property analysts said the record price at Sky Habitat could push up prices of private properties in Bishan.

HSR International Realty special advisor Donald Han, said: “There would typically be an uplift of about one to two per cent over a period of six months because there is a re-evaluation in terms of market assets. It’s probably going to be one of the very few high-end projects that we will see in the suburban township in Singapore.”

The 509-unit development is designed by renowned international architect, Moshe Safdie.

Source : Channel NewsAsia – 1 Apr 2012

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