Developers are now recalibrating pricing strategies and planning their product and unit mix.
The healthy sales at The Tre Ver to a combination of factors: pricing, product and location. The average price was $1,550 to $1,600 psf, about 9% lower than the average price of $1,732 psf achieved at Park Colonial so far.
The average selling price at The Tre Ver is “realistic”, given its distance from the MRT station compared with Park Colonial, which is next to Woodleigh MRT station.
“Buyers could be attracted to its serenity — given its location away from the main road — and the river views,”. WOHA designed the project as a sustainable development with a multi-tiered landscape and capitalised on its 220m river frontage.
July 28 and 29, marked the launch of the 327-unit Daintree Residence by Malaysian property giant S P Setia. About 50 units at the private condo were taken up on the first day, at an average price of $1,710 psf. The project on Toh Tuck Road was designed by renowned architectural firm ADDP Architects.
The second phase of its 429-unit Park Place Residences at Paya Lebar Quarter in late March. Up to July 5, 187 units were sold, at an average price of close to $2,000 psf. Currently, there are only 25 unsold units at Park Place Residences.
– August 10, 2018
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