Buyers pick up 87% of Duo Residences in Bugis within three days

An artist's impression of the Duo Residences. The 660-unit Duo Residences in Bugis had sold 468 units out of the 540 units released as at 3pm on Friday, Nov 15, 2013, its developer M+S told The Straits Times. -- FILE PHOTO: M+S
An artist's impression of the Duo Residences. The 660-unit Duo Residences in Bugis had sold 468 units out of the 540 units released as at 3pm on Friday, Nov 15, 2013, its developer M+S told The Straits Times. -- FILE PHOTO: M+S

The 660-unit Duo Residences in Bugis had sold 468 units out of the 540 units released as at 3pm on Friday, its developer M+S told The Straits Times.

This works out to a take-up rate of about 87 per cent within three days. More units are likely to be sold by the end of Friday, as queues at the showflat were still long when The Straits Times visited at 3pm.

The average selling price was about $2,000 per sq ft (psf) and the highest price psf achieved was $2,600 psf for a studio apartment, M+S said in a statement.

M+S chief operating officer Kemmy Tan told The Straits Times that demand was strong enough for the 49-storey project to "achieve a good pricing from the developer's point of view".

Most of the buyers - 78 per cent - were Singaporeans. Of these, the bulk were investors who already stay in private homes.

Malaysians accounted for 16 per cent of buyers. The remaining 6 per cent were mostly Indonesians, Chinese and Americans, Ms Tan said.