Property developer CapitaLand has reported strong sales at its 165-unit Urban Suites condominium, after selling 90 per cent of the 140 units released.
Prices have also increased to between S$2,500 and S$2,800 per square foot compared to the phase one release of its first 60 units.
The units in phase one were sold at prices ranging from S$2,400 to S$2,700 per square foot.
About 70 per cent of the buyers in the latest phase were foreigners, with Indonesians making up the majority of this group.
CapitaLand Residential’s Singapore CEO Patricia Chia said she expects buying interest for well-located homes in the high-end segment of the market to continue.
She added that the prices for the mid- to high-end segments of the market have been rising by between 5 per cent and 10 per cent this year.
Urban Suites – comprising two 20-storey towers and one 17-storey tower – is located on an 8,665-square-metre freehold site, bounded by Cairnhill, Hullet and Saunders roads.
Buyers have a choice of two-, three-, and four-bedroom apartments as well as duplex and triplex penthouses.
Source : Channel NewsAsia – 19 Jan 2010