SINGAPORE - Home buyers picked up about 80 per cent of the first 160 units launched at Highline Residences in Kim Tian Road over the weekend, developer Keppel Land said on Sunday.
The average price of the units sold on Saturday and Sunday was $1,900 per sq ft (psf), in line with property watchers' expectations.
Keppel Land had previously given an indicative price of $2,000 psf for homes in the 500-unit condominium, located within walking distance of Tiong Bahru MRT Station and the Tiong Bahru Plaza mall.
But this was before taking into account a "special preview discount" that was not disclosed.
The developer said the response to its weekend sales, which were by invitation only to potential buyers who had registered interest in the 99-year leasehold project, was "positive".
"This may be due to the pent-up demand for new private housing in Tiong Bahru, which has not seen a launch in the past seven years," a Keppel Land spokesperson said in a press release.
The spokesperson added the developer had conducted surveys showing that buyers are drawn to "Tiong Bahru's central location and heritage charm".
Highline Residences, which is expected to be completed by 2018, comprises seven blocks of residential units ranging from four storeys to 36 storeys tall.
The project's unit sizes span 506 sq ft for one-bedders to 1,227 sq ft for four-bedroom dual key units. There will also be six penthouses of 2,174 sq ft to 2,260 sq ft in size each.