Update: Cube 8 preview price at average $1,250 psf
Cube
8 (freehold, CDL), the District 11 condo along Thomson Road, is about
to preview this week at $1,250 psf, way higher than the $1,000 or so
psf we predicted. Though it's closer to the 'seedy' Balestier than 'swanky' Newton, looks like CDL is fairly confident that Cube 8 will command a premium by virtue of being in the more 'prime' District 11.
It seems to have also taken a leaf from nearby Vista Residences (freehold, FEO, D12), which is selling pretty well (69% sold).
A check with URA's data showed in December 2009, 8 more units of Vista were sold at a median price range of $1,305 psf.
Prices for 1BR units (560sqft) at Cube 8 will begin at $730,000. 3BRs (1,335 - 1,475 sqft) will begin at $1.6m to $1.9m. PHs are going from $3.5m onwards.
Comparing prices
By comparison, next door's The Arte (freehold, CDL) is averaging about $1,000 plus psf. No doubt buyers of The Arte will surely be all smiles as its flanked by two similar developments that are selling at almost $200 psf more.
First-time buyers of The Arte will be even happier, they bought during the lows of March 2009 at an average of $880 psf. What I would give for a time-machine right now!
Units at soon to be completed Sky@Eleven (freehold, SPH) in District 11, just a 200m north of Cube 8 along Thomson Road, were selling at $1,192psf on average in the month of Sep to Oct 2009, according to URA caveat data.
Would buyers will be attracted to the prestige associated with a District 11 condo and overlook its minor blemishes? We'll find out soon.
Read about Cube 8 preview here.
Via Business Times - "CDL poised to preview Cube 8 at average $1,250 psf"
Posted on 19-01-2010 12:39 | By John
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