Two new projects, The Nautical in Sembawang and The Hillier (pictured) in the Hillview area, have pushed ahead with their previews, while most property developers consider whether or not to release new projects following the implementation of the additional buyer’s stamp duty this month.
Both residential projects are 99-year leasehold developments.
The Nautical sold some 50 units at an average price of S$860 psf during its weekend preview.
Featuring one- to four-bedroom units and penthouses, including 32 dual-key units, prices at The Nautical start from about S$409,000 for a 420 sq ft one-bedder. A 1,916 sq ft penthouse is the most expensive unit at slightly over S$1.5 million.
Meanwhile, Far East Organization has reportedly collected more than 100 cheques mostly from local buyers for Soho-style apartments at The Hillier. The preview of the project began last Friday.
After absorbing the standard three percent buyer’s stamp duty and providing a furniture voucher, the average price reached S$1,150 psf.
The sizes of the apartments range between 500 sq ft and 800-plus sq ft, and feature a flexible floor plan as well as a 3.4-metre ceiling height. Inspired by New York City’s trendy Soho neighbourhood, it offers “strategic locale, excellent connectivity and flexible space.”
The Hillier is near an upcoming MRT station on the Downtown Line and is slated to be a mixed-use development featuring 528 Soho apartments and a retail podium.
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