SINGAPORE - The location of the newly-launched integrated development in Bidadari, The Woodleigh Residences, is its most attractive aspect for homeowners, said prospective buyers and agents on the first day of the property launch.
There were also more families and couples looking for a home, rather than investors, said property agents at the launch on Saturday (Nov 10).
Those who had put in blank cheques two weeks ago to indicate their interest in the mixed-use commercial and residential development on Bidadari Park Drive turned up for a ballot at 11am for a chance to choose their units.
At 1pm, the doors were opened to members of the public.
Japanese property developer Kajima Development's project director, Kazunori Ichihashi, said that 50 units were released over the weekend due to good demand, in addition to 50 units that had been launched earlier on Oct 27.
At the property's soft launch, units were sold for an average of more than $2,000 per sq ft.
Mr Ichihashi said: "Given the current challenging property market condition, we were encouraged by the response during the preview."
The 667-unit property will be built above a shopping mall and Woodleigh MRT station, which is on the North East Line. The development is slated for completion by the end of August 2022.
Jointly developed by Kajima Development and Singapore Press Holdings, The Woodleigh Residences comprises two-, three-and four-bedroom units starting at $1,873 per sq ft.
A two-bedroom apartment has a starting price of $1.088 million, while a four-bedroom unit is priced at $2.55 million onwards.
Arranged in a U-shape to maximise window views for the various units, the 99-year leasehold property affords views of Bidadari Park and Alkaff Lake. Residents will also have the use of an onsen, a Japanese-style hot spring.
Mr Bob Tay, 43, an engineer, said the central location of the property drew him to look for an apartment. He has two children, aged 8 and 11.
"It's near the shopping centre and MRT station. Now I live in Geylang, which is less central compared to this location," he said.
Mr Vincent Ng, 42, an architect with three boys aged two to six, said the schools in the area made him interested in the property.
OrangeTee & Tie managing director Steven Tan said: "People buy this property for themselves or their families because it is so conveniently located. It's near the MRT station, malls, food centres and schools. People are also willing to pay a premium to get units with a good view. They're concerned about the environment they live in and want a place close to nature."
He added that despite measures instituted by the Government in July this year to cool the private residential market, people are buying properties to upgrade from public housing and enjoy the facilities of a condominium.
OrangeTee & Tie and Savills Singapore are the marketing agents for The Woodleigh Residences. The property's sales gallery will close from Nov 19, in preparation for its official launch in early 2019.
Soft-launch prices will continue to be offered to members of the public who are keen to make a purchase before Nov 19.
Upcoming sales launches include Parc Esta at Sims Avenue next weekend.