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Property News05 Nov 2018

Positive start for sales of three private residences

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BUYERS snapped up a good number of the units released for three private residential developments - Arena Residences, Belgravia Green and Whistler Grand - over the weekend.

City Developments Limited (CDL) yesterday sold about 160 units out of 240 units released for the Whistler Grand condominium as at 5pm.

Some 91 per cent of the buyers are Singaporeans, with foreigners and Singapore permanent residents (PRs) making up the remaining 9 per cent. Of the Singaporeans and PRs, 71 per cent are first-time home buyers.

Whistler Grand is a 716-unit, 99-year leasehold property in West Coast Vale.

CDL head of property development Lee Mei Ling said the special prices offered on the weekend launch "have proved a hit with those who saw an opportune time to buy".

The average selling price for the private residential project is S$1,380 per square foot.

Prices for its weekend launch started from S$608,000 for one-bedroom, S$792,000 for two-bedroom, S$1.198 million for three-bedroom, S$1.568 million for four-bedroom and S$1.788 million for five-bedroom units.

Another real estate developer, Roxy Pacific, also kicked off a soft launch of its freehold development, the 98-unit Arena Residences on Friday. At the end of Saturday, 40 units were sold, out of 70 units released. The units were sold at prices averaging between $1,750 and $1,850 psf.

Located in Guillemard Crescent, Arena Residences is developed by RH Guillemard, a subsidiary of Roxy Pacific.

The third development, Belgravia Green, is a strata landed housing development off Ang Mo Kio developed by a unit of Tong Eng Group.

Twenty-seven units of this 81-unit landed development were sold as at press time, Sunday. Tong Eng said it intends to open 49 units for sales during the first phase.

Belgravia Green comprises 10 semi-detached houses being sold at an average price of S$3.8 million. Prices for the 71 terrace houses averaged between S$2.9 million and S$3.2 million for a unit equipped with a lift, and between S$2.65 million and $2.8 million for a unit without a lift.

Source: The Business Times
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