Complete Property Market Updates of Singapore

May 12, 2008

Developers test waters with condo launches

Filed under: Developer News,General — Propertymarketupdates @ 5:04 am

Sale of Floridian, Quartet on Vanda and Parc Seabreeze have begun

DEVELOPERS are gingerly testing the water for residential launches this week. Far East Organization’s listed unit Orchard Parade Holdings and Wing Tai have begun the official launch of their Floridian condo in Bukit Timah, marked by the start of an advertising campaign.

Resort living: The Floridian is inspired by the Miami coast and will be surrounded by water features

Prices start at $1,615 psf. BT understands the average net price is in the range of $1,600 to $1,700 psf after discounts.

The freehold project has 336 units in 11 towers on a site of 230,000 sq ft. The preview for the development began a few months ago, with six units sold at $1,640 to $1,770 psf.

This week’s official launch sees the release of 75 units in Towers 2 and 9. Units range from two-bedders of 840 sq ft to apartments with four bedrooms (plus study) of 2,373 sq ft. Floridian, designed by DP Architects, is inspired by the Miami coast and will be surrounded by water features. Ground-floor units will have the water’s edge outside their living and dining spaces. The project is near Hwa Chong Institution, Methodist Girls’ School, Nanyang Girls’ High School, Raffles Girls’ Primary School and the Canadian International School.

Another freehold project being previewed this week is Quartet on Vanda, a cluster development of four bungalows in Vanda Crescent off Dunearn Road (near Eng Neo Avenue). Each two-storey unit has an attic, a basement and a swimming pool.

Built-up areas range from 4,844 sq ft to 4,919 sq ft. The units are understood to be priced around $6 million each. Quartet on Vanda is being developed by Stanley Quek’s Region Development.

Over in the eastern part of Singapore, Tiong Aik is understood to have begun the preview of Parc Seabreeze in the Marine Parade/Joo Chiat area last week. The average price for the freehold project is understood to be in the $1,600-1,700 psf range.

Source : Business Times – 9 May 2008


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