Sales in Core Central Region pick up in July
In prime District 9, The Avenir situated at River Valley Close saw 8 units sold off in July. It is a redevelopment of the preceding Pacific Mansion, which the joint venture bought for $980 million in 2018, marking the greatest en bloc investment value paid ever since the $1.3388 billion price tag that the former Farrer Court gotten in 2007.
The eight units sold off at The Avenir in July varied from $1.5 million ($2,789 psf) for a 538 sq feet, one-bedroom unit, to $8 million ($3,318 psf) for a 2,411 sq feet, four-bedroom home.
Built by CEL Development, the property arm of listed group Chip Eng Seng Corp, Kopar is a high-end, 99-year leasehold apartment located on Makeway Road, simply a five-minute walk from the Newton Food Centre and the Newton MRT Station. It even includes the prestige of a District 9 address.
During the second stage of resuming post-Covid-19 “circuit breaker”, there has actually been a pick-up in both inquiries as well as purchases of projects in the Core Central Region (CCR). Activity has actually been particularly solid in new launches that had actually been debuted in the 1st 3 months of this year before the circuit breaker was introduced on April 7.
“Activities has come from both citizens as well as outlanders,” claims Dominic Lee, head of deluxe group at PropNex.
The new condo in the CCR that sold the most number of units in July was Kopar at Newton, which transacted 23 homes as at July 19. Units sold range from 517 sq feet to 1,819 sq ft, with values between $1.24 million ($2,404 psf) as well as $4.42 million ($2,428 psf).
The second best-performing project in the CCR in July is The M on Middle Road, which saw 11 units sold, varying from 409 sq feet, one-bedroom units that fetched $992,200 ($2,426 psf), to 743 sq feet, two-bedroom units bought up at $1.89 million ($2,547 psf). The 522-unit The M by Wing Tai Holdings is certainly the very successful new launch this year to date, with 70% of homes moved on its launch weekend in February at around $2,450 psf. To date, 387 units (74%) of the project have actually been snapped up. Sky Everton also did very well in the month of July.
At the luxury Wallich Residence at Tanjong Pagar, three homes were moved in July: the most recent 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, deluxe new condo by GuocoLand is part of a mixed development that includes the GuocoTower Grade-An office space tower, the luxury hotel Sofitel Singapore City Centre, as well as a shopping center connected straight to the Tanjong Pagar MRT Station in the CBD.