The Mayfair Gardens, the recent lavish condominium of Oxley Holdings positioned around Bukit Timah has sold 40 percent which means out of 215 units, 87 were sold last weekend, September 29 -30.
With a standard price as low as $1,900 psf, the property showcases a one- to four-bedroom units. Also three out of six penthouses were sold.
During the SGX filling, Oxley divulged that Singaporeans comprises the 85 percent of the purchasers or buyers, and only 15 percent composed of permanent residents and foreigners.
Conceptualized by the prestigious DP Architects, upscale Mayfair Gardens is the sophisticated development per Oxley’s portfolio up to the present. The development is proud to offer 55 amenities that include the huge 75m swimming and three, copious sky terraces.
“Mayfair Gardens is the development of Oxley since a decade already. Its British, globally competitive architectural layout, efficient maximizing of the area, a wide array of amenities and facilities, nature wrapped landscape yields a cozy homely feeling, ” told Ching Chiat Kwong, the CEO and chairman of Oxley Holdings.
” With Mayfair Gardens in the lists, we will introduce a minimum project of 3 and above before the end of 2018. We are positive that we will be able to hit a sale of at least 2,00 units for 2018.”
The Head of investment and capital markets and executive director of Knight Frank, Mr Ian Loh, told, the new project has the big chance to house 387 homes and measures 70 sq m. “With a selling price as high as $311 million, the fifty-fifty price for the latest development is estimated to be around $1,780 psf, ” he explained.
Mayfair Gardens was put up for sale en bloc as high as $311 million and $52 million top-up amount which corresponds to a leasehold of 99-years. That jump to a price of more or less $1,244 per square foot (psf). The standard deal price recorded for the previous year was only $1,440 psf.
Property development experts foresee the price to hit higher, like $1,800 or higher though the launch date is fast approaching. Investors who have the interest can verify and study the actual and current prices straight from developer’s run-up to its initial introduction.
The site covers an area of 208,477sqft or 19,368sqm with a plot ration of 1.4, thus yields a total floor area of more or less 291,865 sqft.
By the end of 2024 is the completion of Mayfair Garden. It is considered as one of the two projects to rise over former en bloc area, the Mayfair Gardens. The other has 171 units, the Mayfair Modern.