City Developments Ltd (CDL) and UOL Group have continued to sell units over the weekend at their recently released condominium projects.
UOL and LaSalle Investment Management sold another 46 units over the weekend at The Terrene at Bukit Timah aside from the 50 units they had sold on Friday.
Currently, 130 of the total 172 units of the condo have been offered for sale. While the first 85 units released were priced at around $1,250 psf on average, the additional 45 apartments released over the weekend were offered at marginally higher prices.
“We’re keeping the balance 42 units for our official launch later this week, which will be tied with the start of our ad campaign. What we’re most pleased about is that our penthouses and big units are still selling well. More than half of the 30 penthouses in the project have been taken up,” said Liam Wee Sin, chief operating officer of UOL.
“We’ve combined a bit of luxury with a rustic feel,” he added. Penthouses in the condo are priced between $1.7 million and $2.9 million.
The majority of the buyers were Singaporeans, who purchased primarily for owner occupation, said Peter Ow, managing director for residential services at Knight Frank, one of the two marketing agents of the project.
“Demand is still there; it’s only a matter of pricing. People who are walking out of the showflat without making a purchase are doing so because the price is beyond their budget,” he added.
Meanwhile, over the weekend, CDL sold another 32 units at 368 Thomson, a 36-storey, 157-unit freehold condo project.
According to a spokeswoman for CDL, the remaining 37 units were released progressively over the weekend at a marginal price increase of two percent to three percent from the initial average price of $1,350 psf.
“The majority of the 32 units we sold over the weekend were one-plus-study units. We also sold three and four bedders,” she added.
Singaporeans purchased 75 percent of the 128 units sold at the District 11 development.