Developers is getting used to testing the market by releasing units during preview. One of the best example is the Highline Residences by Keppel Land which sold 147 out of 500 units during its preview in November.
During Marine Blue’s preview over the weekend, it sold 31 out of its 50 units with an average of $2000 psf. Marine Blue is a new freehold condominium developed by Capitaland Limited. According to The Business Times, they were able to obtain a price list that shows 10% discount from its listed price. Capitaland Limited has sold units with 1-bedroom + study, a penthouse and 2 bedrooms.
Property-seekers, specifically young professionals and families that seeks for a well-designed, contemporary home is where Marine Blue would surely appeal the most according to its spokesperson. This property looks favorable according to property consultants since it is near a lot of amenities that include Katong 112, Parkway Parade and East Coast Park. The prominent Katong, with its dynamic array of food belt, schools and malls is in close proximity with the property.
Ong Kah Seng, R’ST Research director quoted “An official launch does little to boost sales, as buyers are concerned only with pricing and discounts, not on the fanfare or other frills and sales incentives. So long as pricing isn’t matching up to buyers’ expectations in this cooled market, buyers will not move on a purchase even it is launched officially (with fanfare).”