The effects of the latest round of property cooling measures could soon be put to the test, as marketing agents and developers gain interest in three new property launches.
Far East Organization (FEO) has been marketing The Cape, a 76-unit freehold development located at Amber Road, as “the pairing of cosmopolitan sensibilities with idyllic sensitivities”.
Based on indications from some real estate agents, a one-bedroom unit measuring 600 sq ft to 650 sq ft can fetch around S$1.2 million, which would translate to around S$2,000 psf.
A two-bedroom unit is going for around S$1.7 million. The prices will likely be subject to change until the project becomes available for sale.
FEO is also offering early-bird buyers a five percent cash rebate, which will be paid out only after the completion of the project. This move is in line with the developer’s aim to build a stronger base of long-term buyers, said The Straits Times.
Meanwhile, Teambuild Properties’ La Fleur, a “shoebox” project in Geylang is offering 58 one-bedder units, with sizes ranging between 409 sq ft and 646 sq ft. Prices at the District 14 development, which comprises two eight-storey blocks, start at around S$490,000 or about S$1,200 psf, based on marketing material acquired by The Straits Times.
Over at Balestier, SDB Asia’s Okio Residences is set for a preview on Thursday. The 18-storey freehold project offers 104 shoebox apartment units of below 500 sq ft. It also features two-bedroom units at sizes between 570 sq ft and 667 sq ft, as well as four penthouses of up to 1,098 sq ft.
A 420 sq ft apartment would fetch around S$650,000, said agents.