As Singapore newly launches projects being well received by savvy investors, developers are now confident to launch more residential development in the coming months.
According to report, two newly launch residential properties offered on the market have received an overwhelming response from homebuyers.
Sustained Land's Sturdee Residences sold 122 out of the 305 units during its preview. Most of the units sold were one to two bedroom units at an average price of $1,550 psf, while 3 of the 8 penthouses were also sold on the preview day.
Another project is The Visionaire EC by Qingjian Realty, out of 632 units, 158 were sold at an average price of $811 psf.
With the strong interest shown in these two launches, more developers will likely begin following suit.
The sales gallery of the 578-unit Gem Residences by Evia Real Estate Pte Ltd is also set to open on 29 April 2016 with an average price of around $1,480 psf.
Furthermore, Cheung Kong Property is also due to start the pre-sales for mixed-use project Stars of Kovan by next month. This development along Tampines Road has 390 condo units, 5 strata terraces and 46 shops, average unit price is around $1,550 psf to $1,600 psf.