Despite tepid housing market in Singapore, 2 newly launched residential development recorded a rapid growth of sales over the weekend, showing that Singapore integrated project remain attractive to property buyer.
The 99-year leasehold The Wisteria in Yishun sold 116 of 138 units released for sale, translating to more than 80 percent total units sold.
Developer Northern Resi Pte Ltd initially launched the 108 Wisteria units last 12 March with an average priced from $1,030 psf to $1,050 psf. Following the released of another 30 units due to overwhelming interest for the smaller size units, resulting to more sales.
According to the CEO of Keppel Land Retail Management, Mr Michael Leong, Property buyers are attracted to The Wisteria due to its affordability and convenience being located above lifestyle mall.
Meanwhile, the Cairnhill Nine development by CapitaLand has received 70 percent property buyers, or 134 units of the 200 total units launched last 12 March.
The 99-year leasehold Cairnhill Nine is part of an integrated development in Orchard area, including the serviced residence named the Ascott Orchard Singapore.
The Cairnhill Nine units sold include 1 bedroom to 4 bedroom units and penthouses, measures ranges from 591 sq ft and 3,864 sq ft. Moreover, unit type one-bedroom+guest shows most well received at 90 apartments or 80 percent of the total units sold.
Approximately 50% of the buyers are Singaporeans, and the rest are from Malaysia, China and Indonesia.