Keppel Corporation and Keppel Land will release their latest batch of 30 housing units at the Reflections in the Keppel Land condo today. The units have an average price of $1,950 per square fool (psf), assuming the buyers use the Deferred Payment System (DPS).
Buyers who choose to pay through the regular progressive payment scheme will get a 3 percent discount. The units range in size from 900 square feet to 1,600 square feet.
According to the data gathered by the Urban Redevelopment Authority this week, the Reflections at Keppel Bay have a total of 1,129 units. 638 of the units were sold at the end of July. In July alone, five units were sold at prices between 1,641 psf and $2,195 psf.
Keppel also tries to take advantage of the current home buying uptick to release for sale at the completed units nearby Caribbean Residences with prices ranging from $1300 to $1,400 psf.
Caribbean Residences comprises of 168 apartments are part of the completed 99-year-leasehold at Keppel Bay condo, which was earlier leased out by group as corporate residences. Most apartments are on lease with tenancies from six months to two years. The units will be put on sale together with the tenancies.
Almost all of the apartments at the Caribbean Residences are in two blocks, which are eight and nine storeys high. To date, almost 30 out of 168 units are sold during the last few weeks. The group depends upon the buyer’s interest in releasing more apartments.
According to Keppel spokeswoman, "However, not all the remaining units at Caribbean Residences are being put on the market at the same time.” Most of the 30 units sold so far were mainly two-bedders.
The two projects are being developed by Keppel on the former site of the Keppel Harbour.
According to the property consultants, developers are trying to release more projects to exploit the continuously growing home-buying sentiment.
The NTUC Choice Homes will partially view its 39-storey Trevista condo next week. The 99-year-leasehold project is located in Toa Payoh and is set to have 590 total units.
Next week, Singapore Land is also expected to start selling a freehold condo, the Trizon, located on the former site of the Himiko Court in the Mount Sinai area.
The 24-storey project has 289 units in total.
Himiko Court was bought by SingLand in May 2007 for $336 million. Market watchers estimate Trizon to be priced approximately $1,400 per square foot on average.