Singapore residential property developer SC Global Developments Ltd has unveiled an enhanced purchase plan to get rid of an unsold units at Hilltops condo in Cairnhill.
For a 20% upfront payment, home buyers will be given a 2 years choice to buy the condo units at a fixed price, and during that period, home buyers will get a return of 10% on the downpayment every year before their purchase is completed.
Under the scheme, the developer is selling 30 units, which are rented out to tenants. The 10% yield will be guaranteed by tenancies conducted by the developer.
The said condos consists 2 to 3 bedroom units with sizes ranging about 800 sq ft to 1,700 sq ft, while its unit cost will range from $2.5 million to $6 million.
Completed in year 2011, Hilltops condominium comprises 3 residential blocks of 241 furnished units. It is located at 99 Cairnhill Circle, close to Newton MRT Statio. Some other new launches nearby include Cairnhill Nine by CapitaLand and Gramery Park by CDL.
SC Global Developments believes that genuine demand for Singapore homes is still there, however some home buyers face pressure in buying facilitation.