Only hours before the Government announced its latest round of cooling measures for the property market, buyers had snapped up all the units available at the [email protected], Oxley Holdings’ latest “shoebox” residential project.
The property developer said all its 41 units were sold within two hours at its soft launch yesterday. Demand was so strong that all, but two units, in the development needed balloting to be conducted.
“On average, there were about three interested buyers per unit,” Oxley said.
The units were sold at between $1,630 to $2,166 per sq ft, and most of the buyers were mainly locals, the company said.
Oxley chairman and chief executive officer Ching Chiat Kwong said: “The market’s overwhelming response to our latest projects is extremely encouraging.”
The five-storey development which is located at 151, Holland Road, comprises 37 one-bedroom units, ranging from 323 sq ft to 484 sq ft, and four two-bedroom penthouses with private jacuzzis, ranging from 980 sq ft to 1,141 sq ft.
It also has common facilities that include a basement carpark, a swimming pool and a gymnasium.
Analysts believe that the main attraction of the property is its prime location, which puts it in close proximity to the proposed Holland Village MRT Station and nearby Holland Village Shopping Centre.
It is also close to renowned schools like Henry Park Primary School, Nanyang Primary School, and Hwa Chong Institution.
[email protected] is expected to receive its Temporary Occupation Permit in December 2015.
Source : Today – 14 Jan 2011