Yesterday, PropertyGuru reported that Far East Organization (FEO), one of Singapore’s leading property developers, had pushed forward the official launch of The Scotts Tower (TST) from today, after strong response at its preview, which began on 25 November.
While the project has already seen 34 one- and two-bedroom apartments snapped up, many PropertyGuru readers were shocked when the unit prices were revealed – starting from S$1.94 million for a 624 sq ft one-bedroom SOHO apartment.
Gregory Seow commented on PropertyGuru’s official Facebook page that “the most impressive part of this project is what how much will the future sub-sale buyer pay”?
He added that TST is a leasehold project with small units and the price is S$3,100 psf.
Located at the intersection of Scotts and Cairnhill roads, TST is the first development under the new Far East SOHO brand.
It comprises one- to three-bedroom units and four-bedroom penthouses with landscaped gardens, sky terraces and various recreational facilities.
“My first impression of the price for a one-bedder at TST’s SOHO units was that they are very expensive. Private property price growth has been moderating — almost flat since the market cooling measures back in January this year, so this caused me to do a double take,” said Tejaswi Chunduri, real estate analyst at PropertyGuru.
“For around the same price, probably a two- to three- bedroom condo can be purchased in one of the prime central districts,” she added.
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