Are You One Of Them? /ST 07 April 15

HOME-BUYERS FLOCK TO 2 CONDO LAUNCHES

Cheryl Ong
Straits Times
07 April 15

Home-buyers flock to 2 condo launches

Fraser Centrepoint sold 313 of 430 units at its ‘soft launch’ for North Park Residence

NEW home sales this month got off to a roaring start as home-seekers turned up in force at two new condominium launches over the weekend.

North Park Residences, the residential component of Frasers Centrepoint’s upcoming Northpoint City mixed development, sold 313 of 430 units put up for sale at its “soft launch”, the developer said in a statement yesterday.

“Sales were evenly spread across the one- to five-bedroom apartments, with Singaporeans accounting for over 88 per cent of buyers,” it said.

After a discount of about 11 per cent, units at the 920-unit project in Yishun were sold at an average price of $1,300 per sq ft (psf), with prices for a 431 sq ft studio unit starting at $612,000 and 1,432 sq ft five-bedroom units at $1.89 million.

Shopping vouchers from Frasers Centrepoint Malls – the developer’s shopping mall unit – ranging from $2,000 to $4,000 were also offered to buyers, depending on the size of the unit.

The firm said 5,000 visitors had been to its show suite since it opened for a public preview three weeks ago.

“The healthy demand for North Park Residences indicates that buyers are savvy about the advantages of its Yishun location as well as being part of an integrated development,” said Mr Cheang Kok Kheong, chief executive of development and property at Frasers Centrepoint.

“For some time now, we have been hearing about the revitalisation and transformation of Yishun from that of a mature township to one with new facilities for medical, education, transport, recreational and other functional needs.”

“More than half” of the North Park Residences units have been set aside for its official launch on Saturday.

Northpoint City will also be linked to the Yishun Integrated Transport Hub, which houses an air-conditioned bus interchange and an underpass leading to Yishun MRT station.

UOL Group, which launched its 797-unit Botanique at Bartley condominium in Upper Paya Lebar Road on Saturday, has sold “more than 50 per cent” of the 300 units put up for sale at an average of $1,290 psf, said Mr Anthony Wong, general manager of marketing.

Mr Wong noted that one-bedroom units, which range from 495 to 689 sq ft each, as well as two-bedders spanning 657 sq ft to 958 sq ft, accounted for about 70 per cent of sales. Foreigners were drawn to the launch too, accounting for 20 per cent of sales.

Prices start at $598,000 for one-bedders, $798,000 for two-bedders and $1.16 million to $1.68 million for three-bedders. Some two- and three-bedders – termed “flexi” units – can be converted into dual-key apartments.

Mr Liam Wee Sin, UOL Group president of property, told a briefing before Sunday’s launch that over 70 per cent of its units were priced below $1 million.

The project is a three-minute walk from Bartley MRT station and is near Paya Lebar Methodist Girls’ School (Secondary), Maris Stella High School and the Australian International School.

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