The much-anticipated 500-unit Highline Residences by Keppel Land in Tiong Bahru, is expected to launch within September 13 2014. According to Market watchers, this will be the same date for the opening of the showflat for Marina One Residences.
Keppel Land’s spokesperson declined to confirm the date when sales will start for the upcoming Highline Residences. But she confirmed, a market guide price of $2,000 psf (on average) has given and the response has been good. The guide price excludes an unrevealed “special preview discount” for registered prospects who have viewed before the official launch.
Market watchers noted that sale of The Crest at Prince Charles Crescent have been slow. Based on developer sales of government data. As of July, The Crest had been sold only 39 out of 469 units. The project was released last June this year and during that month it sold 35 units at a median price of S$1,682 psf.
The Crest at Prince Charles Crescent is developed by Wing Tai-led consortium. The project consists of 496 exclusive units of residential with various unit mixes of apartments and penthouses. It is also located with close proximity to Redhill MRT Station and Tiong Bahru Plaza.
Another development closer to Redhill station is Alex Residences, it was released last November with $1,706 psf median price sold in that month. As at end of July, 208 out of 429 units had been sold.
Last May 2014, Hong Leong Group launched its Commonwealth Towers located next to Queenstown MRT Station, it sold 275 units at $1,626 psf median price during the same month.
All the 4 developments are located on 99-year leasehold sites, However Highline Residences by Keppel Land deemed the most convenient and attractive development considering its proximity to Tiong Bahru MRT Station, which is sited close to town. Today, Tiong Bahru location has become one of the most highly sought after mature housing estate having more amenities, including a mall and eateries.