Some property watchers are predicting that Lake Life could become the most over-subscribed executive condominium (EC) in 2014, and perhaps in the last two years.
Developed by a consortium led by Evia Real Estate, the 546-unit EC received more than 1,200 e-applications at the end of the first three days of launch. This translates to an over-subscription rate of more than two times.
After the news was shared on PropertyGuru’s Facebook page, it attracted a number of comments.
“Three days that the scale model has been open for viewing and the crowd is madness. For sure it will be super over-subscribed and a total sell out. This project will easily be the number one most over-subscribed project of 2014,” said PropNex agent Carolyn Cheong.
And with four more days to go before e-applications close on 12 October, the number of applicants could shatter previous records set in 2012 and 2013.
The highest number of e-applications received in 2013 came from SkyPark Residences in Sembawang with over 1,600 applications. Jointly developed by JBE Holdings and Keong Hong Holdings, the project comprises 506 units.
In 2012 it was the 394-unit Heron Bay in Upper Serangoon View. Also developed by the Evia-led consortium, it drew 1,664 applications.
Image: Weekend crowd at Lake Life’s launch.
Romesh Navaratnarajah, Singapore Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
