Attractive prices draw buyers to entry-level and mid-priced projects
By
Fiona Chan, Property Reporter
Crowds at the Double Bay Residences showroom in Simei yesterday. UOL Group has so far released 250 of the condo's 646 units for sale. Developers are seeing a renewed interest in their entry-level and mid-priced projects from HDB upgraders and private home owners. -- ST PHOTO: AZIZ HUSSIN
THE show-flat crowd - that rarest of species these days - has been lured back into the market by two new developments that held soft launches this week.
Hundreds of people turned up at the Double Bay Residences showroom in Simei when its doors opened for a private preview yesterday.
Developer UOL Group said more than 80 units have been sold so far, at an average price of $600 per sq ft (psf) to $650 psf. The development's six retail units have all been sold as well.
Chief operating officer Liam Wee Sin noted that the response was strong ahead of the 99-year leasehold condominium's official launch next weekend.
UOL has so far released 250 of the 646 units in Double Bay for sale. One-bedroom units in the Simei Street 4 project start from $420,000, while four-bedders cost at least $930,000.
The crowds were also out for The Mercury in Shanghai Road, which was said to be more than 60 per cent sold since it started previews on Thursday.
The 67-unit freehold project is priced from about $1,040 psf. One-bedroom units at the River Valley estate start from $740,000, while two-bedders are going for about $1.1 million.
The fairly brisk sales for these projects come on the heels of a few successful launches recently, which appear to have boosted sentiment in the badly battered property market.
Last month, Frasers Centrepoint said it sold over 300 units in three days at its Caspian condominium in Jurong. To date, over 500 of the 712 units have been sold.
Caspian's success was mirrored at The Alexis in Alexandra Road, which sold out within a few days of its preview.
Read the full story in today's edition of The Straits Times.
