Sales in Core Central Region pick up in July
The second best-performing new launch in the CCR in July is The M on Middle Road, which saw 11 units moved, ranging from 409 sq feet, one-bedroom units that brought $992,200 ($2,426 psf), to 743 sq ft, two-bedroom units taken up at $1.89 million ($2,547 psf). The 522-unit The M by Wing Tai Holdings is undoubtedly the best-selling new condo this year to date, with 70% of homes sold on its debut day in February at around $2,450 psf. To date, 387 units (74%) of the project have actually been bought. Dairy Farm Residences near Hillview MRT also did very well in the month of July.
At the high-end Wallich Residence at Tanjong Pagar, 3 homes were moved in July: the current was for a 1,259 sq feet, two-bedroom unit on the 58th floor that fetched $4.85 million ($3,851 psf), according to a caveat lodged on July 17. The 99-year leasehold, deluxe development by GuocoLand belongs to a mixed development that incorporates the GuocoTower Grade-A workplace tower, the luxury hotel Sofitel Singapore City Centre, as well as a shopping complex linked straight to the Tanjong Pagar MRT Stop in the CBD.
Built by CEL Development, the property arm of listed group Chip Eng Seng Corp, Kopar is a high-end, 99-year leasehold apartment located on Makeway Road, only a five-minute walk from the Newton Food Centre and also the Newton MRT Station. It furthermore comes with the prestige of a District 9 address.
Throughout the second stage of recommencing post-Covid-19 “circuit breaker”, there has been a pick-up in both queries as well as transactions of projects in the Core Central Area (CCR). Activity has been specifically solid in projects that had been launched in the first 3 months of this year right before the circuit breaker was imposed on April 7.
“Interest has actually arised from both outlanders and also citizens,” says Dominic Lee, head of deluxe team at PropNex Realty.
The new launch in the CCR that moved the most quantity of units in July was Kopar at Newton, which sold 23 units as at July 19. Units moved vary from 517 sq feet to 1,819 sq ft, with figures between $1.24 Mil ($2,404 psf) and $4.42 Mil ($2,428 psf). In June, 17 units were sold, while seven were taken up in May, throughout the lockdown. The 378-unit Kopar was debuted on the saturday and sunday of April 4-5, right before the start of the circuit breaker, as well as 74 units were sold off.
In prime District 9, The Avenir located at River Valley Close saw eight units sold in July. It is a redevelopment of the former Pacific Mansion, which the joint venture bought for $980 million in 2018, registering the top en bloc purchase value paid since the $1.3388 billion value tag that the former Farrer Court commanded in 2007.
The 8 units sold at The Avenir in July ranged from $1.5 million ($2,789 psf) for a 538 sq ft, one-bedroom unit, to $8 million ($3,318 psf) for a 2,411 sq ft, four-bedroom home.