New project launches to test latest cooling measures

By The Folks @PropTalk - January 24, 2011 No Comments

According to a ST report today, the impact of the latest property cooling measures could soon be tested as developers and marketing agents muster interest for three new project launches.

The Cape
Far East Organization has been marketing The Cape, its 76-unit development at Amber Road, as “the pairing of cosmopolitan sensibilities with idyllic sensitivities”.

At the district 15 freehold property – right next to the firm’s Silversea project – a one-bedroom unit of 600sqft to 650sqft is going for about $1.2 million, based on indications from some property agents. This would work out to about $2,000psf.

A two-bedroom unit would set a buyer back about $1.7 million. The prices will probably be subject to change until the project goes on sale – the timing is expected to be around Chinese New Year.

Far East is offering some early-bird buyers a 5% cash rebate, which will be paid out only when the project is completed.

La Fleur
This is a “shoebox” development in Geylang, which is expected to hold a preview today. All the 58 units are one-bedders, with sizes ranging from 409sqft to 646sqft. Prices start at an estimated $490,000 – or roughly $1,200psf.

The District 14 project, which consists of two 8-storey blocks, is being developed by Teambuild Properties.

Okio Residences
Over at Balestier, Okio Residences by SDB Asia – a subsidiary of Malaysia-listed Selangor Dredging – will be previewed on Thursday.

Half of the 104 units in the 18-storey freehold project are shoebox apartment of less than 500sqft. It also has two-bedroom units, with sizes ranging from 570sqft to 667sqft, and four penthouses that go up to 1,098sqft.

Agents said a 420sqft apartment would cost an estimated $650,000.

Experts said projects with smaller units were still being launched because the purchase price for such units remained manageable for buyers.


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