New project sales status: Q Bay Residences

By The Folks @PropTalk - January 19, 2013 No Comments

More than 210 units were sold at Q Bay Residences at Tampines during its preview on Friday.

The development is the first private residential project to be launched since the latest round of property cooling measures kicked in last weekend.

The most popular units were the "one- to two-bedroom suites", followed by the three- and four-bedroom "Verandah Homes" for large families and the TRIO units.

In a statement, Cheang Kok Kheong, chief executive officer of Frasers Centrepoint Homes, said: "They were mainly first-time buyers intending to use the property for their own stay. We are encouraged by the response, and expect more purchases by families tomorrow, at our official launch."

The 630-unit project is a joint venture by Frasers Centrepoint, Far East Organization and Sekisui House.

Q Bay Residences was launched at an average selling price of $985psf ppr, from an originally planned price of $1,050psf ppr. This was after a 15% discount and a 7% stamp duty discount.

The additional buyer's stamp duty (ABSD) is imposed on Singaporeans purchasing their second and subsequent home, as well as permanent residents who purchase a home in Singapore.
Source: Channel News Asia

Looks like the discounts given did help to maintain buying interests somewhat...

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