City Developments Ltd (CDL) has sold nearly 120 units at Cube 8 as of Friday evening, during the two-day preview of the condo at Thomson Road.
CDL initially released 80 units at an average price of $1,250 per square foot (psf), but due to strong demand, it offered an additional 40 units. Prices of the new units increased slightly, possibly by 2 to 3 percent.
The property developer said on Friday that it plans to release additional units over the weekend. “The strong sales-to-date for Cube 8 reflects the positive sentiment in the property market and attests to our ability to market the appropriate products at the right time,” said Chia Ngiang Hong, Group General Manager for CDL.
One and two-room units were the first to be sold out and the three-room units located at the higher floors also saw great demand. The 36-storey, 177-unit project is being built in District 11, at the former site of The Albany and Thomson Mansions. The 39 one-room units have been sold out and a large number of the 58 two-room apartments have also been taken out.
The 560-square-feet, one-room units work out at around $740,000 while the prices of two-room units starts at $1.1 million. The three-room units, with a plot area ranging from 1,335-1,475 square feet, are priced at nearly $1.6-$1.8 million, whereas the four-room apartments cost no less than $1.6-$1.8 million. The penthouse and sky villas cost over $3.5 million each.
The majority of the units were purchased by Singaporeans, whereas foreigners and permanent residents acquired about 20 to 25 percent of the units. The foreign buyers were made up mostly of Indians, Koreans and Indonesians.