By Nikki De Guzman:
Urban Vista (pictured) in Tanah Merah saw robust sales at its preview on Saturday, with over 180 of the 230 units released snapped up at an average price of S$1,350 psf.
According to The Straits Times, most buyers were investors attracted to the project’s good location. Jointly developed by World Class Land and Fragrance Group, the 582-unit condominium comprises one- to four-bedroom units.
One investor who wanted to be known as Mrs Yuan said she purchased a one-bedroom loft, adding that she liked the area primarily because of its private homes.
“Pasir Ris is congested with ECs (executive condominiums) and Bedok is still a heartland area. The area where Urban Vista is located is a private enclave.” She already owns more than two properties and will be required to pay the additional buyer’s stamp duty (ABSD).
Singaporeans buying their second property are required to pay seven percent ABSD while those purchasing their third and subsequent property are taxed an additional 10 percent.
Meanwhile, D’Nest in Pasir Ris saw over 350 of the 450 units released taken up at S$920 psf on average during its preview. The 912-unit condo is being developed by a CDL-led consortium.
“To cater to the strong demand, CDL had to release more units progressively. There was a good take-up rate for the range of apartment sizes, from one- to five-bedroom types, including penthouses,” the developer said.
D’Nest and Urban Vista are both expected to TOP in 2017.
Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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