H88.com.sg » Condo News » Business Times: over 900 units sold by developers in Jan

According to the Business Times, based on a poll of developers on property agents, more than 900 private residential units have been sold by developers this month so far. With more launches on the way, they expect the number to exceed 1,000 units by the end of January.

Looks like 2010 is indeed shaping up very well for developers and property agents!

Allgreen Properties' Holland Residences and Wing Tai's L'Viv at Newton Road are about to be launched soon. L'Viv's average price is going for about $1,900 to $2,000 psf and is offering the Deferred Payment Scheme (it was approved before the scheme was removed by the govt in 2007).

CDL's Cube 8 has done really well, selling about 150 of its total of 177 units. Singaporeans bought 75 percent of the units at the Thomson Road condo.

RV Edge, a small 108-unit freehold by Fortune Development, will also begin its preview soon. The River Valley condo consists of many 'mickey mouse' units beginning at $600k.

January also saw good sales at other already launched projects such as Parvis, Trilight, Double Bay Residences and Meadows@Peirce.

According to Ho Bee executive director Ong Chong Hua,

Sentiment has picked in the mid and high-end markets because of the improvement in the economy; the imminent opening of the two integrated resorts (IRs) may also have given a psychological boost to foreign buying interest, which seems to be returning

Knight Frank chairman Tan Tiong Cheng,

For the economy, the worst is over and much of the physical infrastructure investment like the IRs is close to completion

Asked if the authorities are likely to come up with fresh measures to cool the market if another wave of buying frenzy builds up, Mr Tan said: 'Frankly, it's very hard to deter people from buying, if you look at how strong the HDB resale market is. There's very strong bottom-up support.'

Via Business Times - "Signs of a mild property fever as private home sales gather pace"

Image: Brochure