The 546-unit Lake Life executive condominium (EC) sold 98 percent or 534 of its apartments on Sunday, only the second day of booking.
On Saturday, the EC achieved 95 percent of sales, marking a new record for the fastest-selling condominium on the first day of sales for both ECs and private condos in Singapore, since the Total Debt Servicing Ratio (TRSR) framework was introduced on 29 June 2013.
Developed by an Evia Real Estate-led consortium, the project’s average price is $857 psf.
The stunning sales exceeded Managing Partner of Evia Vincent Ong’s expectations, as he had initially expected to sell half the units over the weekend.
In fact, sales of the condo had crossed the 50 percent mark by 12pm on Saturday, and by 4pm the same day, Lake Life was 82 percent sold.
“We are delighted by the overwhelming response that we’ve seen from buyers so far. We believe that the popularity of Lake Life can be attributed to its prime location, with Jurong set to become the next hottest address, as well as the condo’s first-of-a-kind active living concept,” noted Ong.
Last month, Lake Life also broke another record, receiving the highest number of e-applications ever for an EC project with 1,853 applications.
Located near Lakeside MRT station, the 99-year leasehold project is expected to TOP in 2017.
Image: Artist’s impression of Lake Life EC
Romesh Navaratnarajah, Singapore Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
