City Developments Ltd (CDL) is expected to start previewing its Cube 8 freehold condo on Thomson Road this week, with the average price approximated at $1,250 per sq ft.
Allgreen Properties is poised to begin sales at Holland Residences, a five-storey freehold condo with 83 units located at Taman Warna, by next week. Several market watchers suggest that the average price could be around $1,600 psf.
Meanwhile, Frasers Centrepoint has sold 42 units of the total 81 units at its Residences Botanique, a five-storey freehold condo located at Yio Chu Kang/Sirat roads opposite Serangoon Stadium. The average price is around $1,000 psf. The developer held a one-day private preview early in December and commenced its ‘official preview’ on Jan 9.
“Units were sold at prices ranging from $844 psf to $1,262 psf. The buyers were mostly Singaporeans and PRs. About half of the buyers had HDB addresses, with the other half residing in landed properties and condos in a catchment area stretching from Serangoon Gardens to Kovan,” said Cheang Kok Kheong, Chief Operating Officer of Frasers Centrepoint.
Units range from one-bedroom-with-study to four-bedroom duplex apartments. According to Mr. Cheang, the most popular units are the one- and two-bedders, although the developer has already started selling the bigger units as well.
At Thomson Road, on the site of the former Thomson Mansion and The Albany, CDL plans to develop Cube 8, a 36-storey freehold condo, which will comprise 177 units. The project is next to the earlier development of the group, The Arte at Thomson, which started sales in March 2009 at an average price of around $880 psf. By May, CDL had revised the average pricing to around $900 psf. Six units of the project’s 336 units are still available, according to government data on the December sales of the developers.
While the two projects are next to each other, The Arte is situated in District 12 while Cube 8 is in District 11 – one of the three traditional prime districts in Singapore.
Cube 8 is comprised of four penthouses or sky villas, nine four-bedroom apartments, 57 three-bedders, 68 two-bedders and 39 one-bedroom units. Prices of a one bedroom unit, with a size area of 560-sq-ft, are expected to start from around $730,000. The three-bedders, with size areas of 1,335 to 1,475-sq-ft, will range from $1.6 million to $1.9 million. The sky villas will likely be priced at more than $3.5 million each.
Holland Residences will be comprised mostly of two- and three-bedroom apartments, but it will also have 17 penthouse units.