Sales in Core Central Region pick up in July
The second best-performing project in the CCR in July is The M on Middle Road, which saw 11 units sold off, varying from 409 sq feet, one-bedroom units that fetched $992,200 ($2,426 psf), to 743 sq feet, two-bedroom units bought up at $1.89 million ($2,547 psf). The 522-unit The M by Wing Tai Holdings is certainly the very popular new condo this year to date, with 70% of homes moved on its launch day in February at an average of $2,450 psf. To date, 387 units (74%) of the new Bugis condo have been bought.
At the deluxe Wallich Residence at Tanjong Pagar, three homes were sold in July: the most up to date was for a 1,259 sq ft, two-bedroom unit on the 58th floor that fetched $4.85 million ($3,851 psf), according to a caveat lodged on July 17. The 99-year leasehold, luxury new condo by GuocoLand is part of an integrated development that incorporates the GuocoTower Grade-An office tower, the deluxe hotel Sofitel Singapore City Centre, and a shopping mall connected straight to the Tanjong Pagar MRT Stop in the CBD.
Built by CEL Development, the real estate arm of listed conglomerate Chip Eng Seng Corp, Kopar is a luxury, 99-year leasehold apartment situated on Makeway Road, simply a five-minute stroll from the Newton Food Centre and the Newton MRT Station. It also comes with the prestige of a District 9 address.
On the other hand in prime District 9, The Avenir positioned at River Valley Close saw eight units sold in July. This brings entire sales in the new condo to 27 ever since its commencement in January. The Avenir is a 376-unit high-end, freehold condo developed jointly by Hong Leong Holdings and GuocoLand. It is a redevelopment of the former Pacific Mansion, which the joint venture invested in for $980 million in 2018, marking the top en bloc acquisition figure paid ever since the $1.3388 billion cost that the former Farrer Court gotten in 2007. The last mentioned has since been redeveloped becoming the 1,715-unit d’Leedon. View at Kismis also did very well in the month of July.
The eight units sold off at The Avenir in July varied from $1.5 million ($2,789 psf) for a 538 sq feet, one-bedroom unit, to $8 million ($3,318 psf) for a 2,411 sq ft, four-bedroom home.
Throughout the second period of reopening post-Covid-19 “circuit breaker”, there has actually been a pick-up in both enquiries and deals of projects in the Core Central Area (CCR). Interest has been specifically solid in projects that had been released in the 1st 3 months of this year before the circuit breaker was established on April 7.
“Transactions has come from both locals and noncitizens,” claims Dominic Lee, head of luxury team at PropNex Realty.
The project in the CCR that sold off one of the most quantity of units in July was Kopar at Newton, which sold 23 units as at July 19. Units moved range from 517 sq feet to 1,819 sq ft, with prices between $1.24 million ($2,404 psf) and $4.42 Mil ($2,428 psf). In June, 17 units were sold off, while 7 were snapped up in May, throughout the lockdown. The 378-unit Kopar was released on the saturday and sunday of April 4-5, prior to the beginning of the circuit breaker, and also 74 units were moved.