Connect with Us     

NEW LAUNCH PROPERTY - SINGAPORE PROPERTY PORTAL

Connect with Us               

Developer Sales Enquiry: 9789 8770

New Property Dream News Blog

Be Updated Daily with the New Happenings in the Property Market!
"Hit" the 'Subscribe to blog' on your right for Daily Property News Updates!

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
    Login Login form

Sales at Sennett Residence brisk; slower at The Trilinq

Posted by on in Uncategorized
  • Font size: Larger Smaller
  • Hits: 297329
  • Subscribe to this entry
  • Print
It was a day of contrasts for two 99-year-leasehold private condo releases yesterday. They both had a similar sort of average pricing - in the $1,400-$1,500 per square foot (psf) band - but one is in a city-fringe location, next to Potong Pasir MRT Station, while the other is in the suburbs, in Clementi. As expected, the project closer to town drew more buyers.

Tuan Sing, which decided to begin sales at its 332-unit Sennett Residence project yesterday evening - instead of on Saturday as earlier planned - had already sold 175 units by 10.30pm yesterday. Tuan Sing's CFO Chong Chou Yuen said the group had collected nearly 500 cheques and seeing there was "more than enough demand", decided to bring forward the launch date.

The average price is $1,450 psf after upfront discounts of 10 per cent plus 8 per cent.

IOI Group, which opened the doors at its Trilinq condo showflat in Clementi in the late-morning as planned, had sold 85 units by 2pm, according to the company. BT understands the final tally yesterday evening had not changed much from that. So far, the group has released 200 of the project's 755 units.

The developer did not provide BT with an average psf price but sources suggest it could be somewhere around $1,400-$1,500 psf. Unit prices vary from $1,200 psf to $1,800 psf depending on whether the units have void space, which is counted as part of the strata area.

Typically, units with void areas have lower psf prices. About 38 per cent of The Trilinq's units have a generous double-volume, six-metre floor-to-ceiling height - mostly in the living room but in some cases in the master bedroom.

While some buyers would appreciate the spacious effect created by the void space, other potential buyers may not have seen the benefit of paying the price sought for such space which they consider unusable, suggested a property agent not associated with the project.

IOI's top brass are also thought to have adopted a strategy of taking a longer period to sell out the 755-unit project, say over its construction period of three to 3 1/2 years, instead of gunning for a more immediate sell-out say in a month.

Another reason for the relatively slow first-day sales at The Trilinq is thought to be the Malaysian group's decision to process options only for buyers who were physically present at the showflat. IOI did not make any sales to proxies, adopting a more conservative approach than typical Singapore developers.

In all, the number of cheques collected earlier from potential buyers is said to be in the high-500 range, which means the percentage of these cheques translating to actual sales was in the low teens.

Earlier yesterday, SMSes from property agents were flying furiously about an impending imposition of a prescriptive 30 to 40 per cent mortgage servicing ratio (MSR) cap for private homes supposedly to be effective as early as today.

The Council for Estate Agencies (CEA) confirmed last night that it had received one complaint about a property agent who had sent an SMS to his clients. CEA has approached the estate agency to which he belongs to tell him not to do so.

"Under the Estate Agents Act, sales persons are required to provide factually correct information to their clients," said a CEA spokesman.

Separately, BT understands that the government is not planning to introduce a prescriptive MSR cap for private home purchases in the immediate future.

At The Trilinq, the lowest absolute price was fetched by a one-bedroom apartment of 538 sq ft that went for $855,000. This works out to $1,589 psf.

The lowest absolute price for a four-bedder was $1.82 million for a 1,518-sq-ft unit which includes void space. The price works out to about $1,200 psf.

At Sennett Residence, prices start from $734,000 for a 485 sq ft one-bedder. Two penthouses were sold - at $3.5 million (for a 2,600 sq ft unit) and $5.2 million (for a 3,600 sq ft unit).

Credit from Business Times - 8 March 2013
Rate this blog entry:
0
 

 

To all Real Estate Investors and Future Property Owners,

Hello there, this is Sky Chiu, your Singapore Real Estate Advisor, welcome and thank you for reading through to my News Blog! If you would like to be updated with the Property Market Insights, Do Subscribe to my Blog or via RSS on the Top Right of this page!


With 9 years of experience in real estate business, equipped with in-depth property market and new projects knowledge and insights, i committed to give all my valued clients detailed and clearer analysis before they committed to their dream home - whether you are a first time property seller, an experienced property investor, a first time property buyer or a foreigner looking to move into Singapore.


My dedicated services cover my valued clients through the whole process - selling the property at the Highest Possible Price, finding the Right property, negotiating the for the Best Price, to making an Offer and closing the Best Deal. As your Personal Real Estate Consultant, i am here to help you in everything to make the best real estate decision in your life. Your Satisfaction is My First Priority!

 
Phone Support

 

YOUR DEDICATED PROPERTY ADVISOR

We have a group of very experienced property advisors with in-depth property market and new projects knowledge and insights to give our clients a detailed and clearer analysis before they committed to their dream home from us.

We identify our clients' needs, help them to restructure and maximise their property portfolios. We successfully advised and helped our clients on their loan restructuring and financial timeline management on their property investment.

Contact Us for An Non-Obligatory Discussion Today!

 

DIRECT DEVELOPER PRICE

Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum

 

DIRECT DEVELOPER PRICE

Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum

 

NO COMMISSION

Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum