Sales in Core Central Region pick up in July
At the deluxe Wallich Residence at Tanjong Pagar, 3 units were sold in July: the latest was for a 1,259 sq feet, two-bedroom unit on the 58th flooring that sold for $4.85 million ($3,851 psf), according to a caveat lodged on July 17. The 99-year leasehold, deluxe new condo by GuocoLand is part of an integrated development that includes the GuocoTower Grade-An office tower, the luxury hotel Sofitel Singapore City Centre, and also a shopping mall linked straight to the Tanjong Pagar MRT Station in the CBD. Forett at Bukit Timah in Toh Tuck Road is expected to do well to upon its launch this year.
In prime District 9, The Avenir situated at River Valley Close saw 8 units sold off in July. It is a redevelopment of the former Pacific Mansion, which the joint venture bought for $980 million in 2018, marking the top en bloc purchase figure paid ever since the $1.3388 billion value tag that the previous Farrer Court gotten in 2007.
The 8 units moved at The Avenir in July ranged 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 feet, four-bedroom unit.
Throughout the second phase of recommencing post-Covid-19 “circuit breaker”, there has actually been a pick-up in both enquiries and transactions of new condos in the Core Central Area (CCR). Activity has been specifically solid in new condos that had been commenced in the 1st 3 months of this year right before the circuit breaker was established on April 7.
“Interest has arised from both citizens and also outlanders,” says Dominic Lee, head of high-end team at PropNex Realty.
The project in the CCR that sold one of the most quantity of units in July was Kopar at Newton, which sold 23 units as at July 19. Units moved range from 517 sq feet to 1,819 sq feet, with figures amongst $1.24 Mil ($2,404 psf) and $4.42 Mil ($2,428 psf). In June, 17 units were sold, while seven were taken up in May, during the circuit breaker. The 378-unit Kopar was commenced on the saturday and sunday of April 4-5, right before the commencement of the circuit breaker, and also 74 units were sold.
The second best-performing new launch in the CCR in July is The M on Middle Road, which saw 11 homes sold, varying 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 launch weekend in February at an average of $2,450 psf. To date, 387 units (74%) of the new Bugis condo have been bought.
Built by CEL Development, the real estate arm of listed conglomerate Chip Eng Seng Corp, Kopar is a high-end, 99-year leasehold apartment positioned on Makeway Road, just a five-minute stroll from the Newton Food Centre and the Newton MRT Station. It furthermore features the stature of a District 9 address.