Sales update from last week: Twin Peaks & NV Residences

By The Folks @PropTalk - September 21, 2010 No Comments

The BT has reported that private residential sales appeared quieter last week as the buzz created in the preceding week, when NV Residences was released, ebbed.

Twin Peaks
This project was officially launched last Sunday, marked by the start of its ad campaign.

Overseas Union Enterprise, the project’s developer, is understood to have sold about half of the 70 units it has released so far of the 99-year leasehold condo at Leonie Hill Road.

While OUE has been previewing the project for a few weeks, the bulk of the options are said to have been issued over the weekend. The average price is about $2,870psf. Prices start from about $1.5 million for a one-bedroom unit of 550sqft.

The buyers were mostly Singaporean and OUE is also said to have garnered strong interest from a further 16 to 17 potential buyers who need time, perhaps to do a quick check with their bankers.

Market watchers reckon OUE is probably eyeing a further recovery in high-end residential prices before releasing more units in its 462-unit project.

About 60% of the units in Twin Peaks are one-bedders; the rest comprise two and three bedders. OUE is selling the units on a fully-furnished basis.

NV Residences
City Developments has sold about 50 units of NV Residences since last Thursday, when it reopened the project’s showflat – a slower pace compared with the 250 units sold in the preceding week, when the project was released.

As of 5pm last Sunday, the developer had sold 300 out of the 350 units released of the 642-unit, 99-year leasehold condo in Pasir Ris.

Singaporeans make up about 80% of buyers at NV Residences.

CDL reopened the NV Residences showflat last Thursday, followed by an official launch – marked by the start of an advertising campaign – on Saturday last week.

At NV Residences’ preview on Sep 8, 160 out of 200 units released were transacted. CDL sold a further 90 units over the rest of that week, which included a holiday-extended weekend.

CDL initially priced its project at $830psf on average but later raised prices marginally by 1 – 2%.

The wife and I have visited NV Residences last Sunday. We will try to post our review within the next 2 days...

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