Sales in Core Central Region pick up in July
At the high-end Wallich Residence at Tanjong Pagar, three units were sold in July: the most up to date was for a 1,259 sq ft, two-bedroom unit on the 58th floor that fetched $4.85 million ($3,851 psf), according to a caveat lodged on July 17. The 99-year leasehold, high-end development by GuocoLand belongs to a mixed property development that features the GuocoTower Grade-An office space tower, the luxury hotel Sofitel Singapore City Centre, and a shopping center connected directly to the Tanjong Pagar MRT Station in the CBD.
Built by CEL Development, the real estate arm of listed corporation Chip Eng Seng Corp, Kopar is a high-end, 99-year leasehold residence situated on Makeway Road, only a five-minute stroll from the Newton Food Centre and also the Newton MRT Station. It even features the eminence of a District 9 address.
Throughout the 2nd stage of resuming post-Covid-19 “circuit breaker”, there has been a pick-up in both queries as well as deals of new condos in the Core Central Region (CCR). Activity has actually been especially strong in new launches that had actually been released in the initial 3 months of this year prior to the circuit breaker was imposed on April 7.
“Interest has emerged from both foreigners as well as locals,” says Dominic Lee, head of luxury team at PropNex Realty. Riviere Condo by Frasers also did very well in the month of July.
The new condo in the CCR that moved the most number of units in July was Kopar at Newton, which transacted 23 homes as at July 19. Units sold off vary from 517 sq ft to 1,819 sq feet, with pricings amongst $1.24 million ($2,404 psf) and $4.42 million ($2,428 psf).
In prime District 9, The Avenir located at River Valley Close saw eight units sold in July. It is a redevelopment of the former Pacific Mansion, which the joint venture bought for $980 million in 2018, distinguishing the greatest en bloc acquisition price paid after the $1.3388 billion price tag that the former Farrer Court gotten in 2007.
The 8 units sold at The Avenir in July varied from $1.5 million ($2,789 psf) for a 538 sq ft, one-bedroom unit, to $8 million ($3,318 psf) for a 2,411 sq ft, four-bedroom unit.
The 2nd best-performing new condo in the CCR in July is The M on Middle Road, which saw 11 homes sold off, going from 409 sq feet, one-bedroom units that brought $992,200 ($2,426 psf), to 743 sq feet, two-bedroom units snapped up at $1.89 million ($2,547 psf). The 522-unit The M by Wing Tai Holdings is easily the very popular new condo this year to date, with 70% of units sold on its debut weekend in February at around $2,450 psf. To date, 387 units (74%) of the project have actually been grabbed.