Sims Urban Oasis, a 1,024-unit condominium by GuocoLand at the junction of Sims Drive and Aljunied Road was the best-selling residential project in February 2015, according to an OrangeTee report citing the latest URA data.
A total of 112 units out of the 200 launched were sold at a median price of $1,397 psf, which translates to a take-up rate of 56 percent.
The report stated that a large percentage of sales by developers in February was attributed to Sims Urban Oasis, the only new launch in the month.
Excluding executive condominiums, new private home sales recorded 382 transactions, a 2.0 percent increase from January’s 374 transactions.
Looking ahead, OrangeTee expects more competition in the market as new launches and a wave of relaunches from existing projects put more pressure on developers.
Here’s a look at the top performing projects in February – Sims Urban Oasis, The Skywoods, City Gate, Symphony Suites and Lakeville.
1. Sims Urban Oasis (RCR)
Developer: GuocoLand
Tenure: 99-year leasehold
Location: Sims Drive (D14)
Nearest MRT station: Aljunied
Median price: $1,397 psf
Total no. of units: 1,024
Sales update: 112 of the 200 units launched were sold.
2. The Skywoods (OCR)
Developer: Hock Lian Seng Holdings & TA Corporation and King Wan Development
Tenure: 99-year leasehold
Location: Dairy Farm Heights (D23)
Nearest MRT station: Hillview (future)
Median price: $1,251 psf
Total no. of units: 420
Sales update: 23 units sold last month.
3. City Gate (RCR)
Developer: Fragrance Group and World Class Land
Tenure: 99-year leasehold
Location: Beach Road (D07)
Nearest MRT station: Nicoll Highway
Median price: $1,830 psf
Total no. of units: 311
Sales update: 22 units sold last month.
4. Symphony Suites (OCR)
Developer: EL Development
Tenure: 99-year leasehold
Location: Yishun Avenue 9 (D27)
Nearest MRT station: Yishun
Median price: $1,008 psf
Total no. of units: 660
Sales update: 18 units sold last month.
5. Lakeville (OCR)
Developer: MCL Land
Tenure: 99-year leasehold
Location: Jurong West St 41 (D22)
Nearest MRT station: Lakeside
Median price: $1,251 psf
Total no. of units: 696
Sales update: 16 units sold last month.
Image: Artist’s impression of Sims Urban Oasis condo.
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
