Property developers Frasers Centrepoint and Far East Organization announced that they have sold 88 units in the 99-year leasehold Water Isle development, located in the Bedok Reservoir area, over the past few days.
The developers released 132 units in the 561-unit project at a preview which began on 28 January. Out of the 132 units, 88 units or 67 percent have been snapped up at an average price of S$920 psf.
The development will be launched officially on 5 February, the third day of the Lunar New Year.
Prices will start from S$575,000 for a one-bedroom apartment, excluding a five percent cost, which will be returned to home buyers in the form of furniture vouchers once the project receives its temporary occupation permit (TOP) in 2015, said Far East Organization, the marketing agent for the development.
Prices at the development will start from S$605,000, including the additional cost for the vouchers, which are being given to “build a stronger base of long-term buyers”, said Far East.
Singaporeans and permanent residents (PRs) comprise 80 percent of the buyers of Waterfront Isle. Nearly half the buyers are living in the east, in estates like Tampines and Bedok, said Far East.