CDL sells one hundred fifty models at launch of Whistler Grand condominium in West Coastline

SINGAPORE – Whistler Grand condominium in West Coastline acquired off into a flying start out on the very first working day of its gross sales start

Nominated website: Whistler Grand showflat

Some one hundred fifty of 240 units launched yesterday – away from 716 models in total – have been snapped up as of 5pm, its developer, City Developments Confined (CDL), advised The Sunday Occasions.

CDL head of house development, Ms Lee Mei Ling, cited “a combination of affordability, fantastic spot and design.” Many of the models had been priced down below the “sweet spot of $1 million”, she extra.

Savills Singapore senior director Alan Cheong explained: “The a hundred and fifty units bought stand for a 21 for each cent take-up price, that is healthy. Soon after the whole credit card debt servicing ratio (TDSR) was released in 2013, the take-up price was only about 50 percent of (yesterday’s) price.”

A number of first-time purchasers and en bloc sellers searching for alternative homes were drawn by Whistler’s normal marketing cost of $1,380 for each square foot (psf). Particular prices started off from $608,000 for one-bedders. In Might, Twin Vew, also in West Coast Vale, marketed 87 per cent of 520 models in a median price of $1,385 psf.

“$1,380 psf is a excellent range, bearing in mind the uncertainty about the High-Speed Rail (HSR) undertaking between Kuala Lumpur and Singapore, which utilized to be described as a advertising level,” Mr Cheong claimed.

PropNex associate group director Jarvis Goh thinks the HSR is simply one part of the blueprint for the rejuvenation of the Jurong space which includes turning it into a next central small business district.

His client Jonathan Kee, 40, an engineer in addition to a first-time property consumer, thinks current prices are eye-catching provided the redevelopment prospective customers in Jurong. He bought a $700,000 one-bedroom device at the two 36-storey 99-year leasehold tower project as an financial investment.

“Given that the upcoming regulations on shoebox models will clamp down on offer, and in addition as a consequence of the loan sum I can get, I want to get one particular now,” he said.

One en-bloc seller, who needed to generally be regarded only as Mr Leow, 45, purchased a three-bedroom unit for $1.four million even though his current condominium has not reached eighty per cent mandate to launch to get a collective sale. “If the en bloc sale does not endure, we’re going to sell our condominium and transfer to Whistler,” he added.

PropNex Realty chief govt officer Ismail Gafoor said Whistler’s solid get up-rate displays that CDL’s “strategy to supply sensitive costs post-cooling steps is working”.

“Of the 150 expressions of fascination that PropNex agents obtained, far more than 80 fully commited to buy, which happens to be a superb conversion charge. Typically, the thriving conversion level of expressions of curiosity to true purchase is about forty for every cent. But our brokers experienced slightly about fifty per cent thriving conversion,” he reported.

Observers are now eyeing the take-up rate at upcoming revenue launches of Woodleigh Residences on Nov 10, Kent Ridge Hill Residences and Parc Esta.