Sales in Core Central Region pick up in July
Throughout the 2nd phase of reopening post-Covid-19 “circuit breaker”, there has been a pick-up in both enquiries and purchases of new condos in the Core Central Area (CCR). Interest has been particularly strong in projects that had been debuted in the first 3 months of this year before the circuit breaker was introduced on April 7.
“Interest has arised from both locals as well as outlanders,” claims Dominic Lee, head of luxury group at PropNex.
The new condo in the CCR that sold the most number of units in July was Kopar at Newton, which moved 23 units as at July 19. Units sold off range from 517 sq feet to 1,819 sq ft, with figures anywhere between $1.24 million ($2,404 psf) as well as $4.42 million ($2,428 psf).
The 2nd best-performing new launch in the CCR in July is The M on Middle Road, which saw 11 units moved, varying from 409 sq ft, one-bedroom units that brought $992,200 ($2,426 psf), to 743 sq ft, two-bedroom units snapped up at $1.89 million ($2,547 psf). The 522-unit The M by Wing Tai Holdings is easily the very popular new launch this year to date, with 70% of units sold off on its debut weekend in February at approximately $2,450 psf. To date, 387 units (74%) of the project have been bought.
In prime District 9, The Avenir situated at River Valley Close saw eight units moved in July. It is a redevelopment of the former Pacific Mansion, which the joint venture bought for $980 million in 2018, marking the top en bloc acquisition value paid after the $1.3388 billion figure tag that the previous Farrer Court commanded in 2007.
The 8 units moved at The Avenir in July ranged from $1.5 million ($2,789 psf) for a 538 sq feet, one-bedroom unit, to $8 million ($3,318 psf) for a 2,411 sq feet, four-bedroom unit.
At the high-end Wallich Residence at Tanjong Pagar, 3 units were sold off in July: the most up to date was for a 1,259 sq ft, 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, high-end development by GuocoLand is part of a mixed property development that consists of the GuocoTower Grade-A workplace tower, the high-end hotel Sofitel Singapore City Centre, and also a shopping center connected directly to the Tanjong Pagar MRT Station in the CBD. Avenue South Residences also did very well in the month of July.
Built by CEL Development, the real estate arm of listed corporation Chip Eng Seng Corp, Kopar is a luxury, 99-year leasehold residence located on Makeway Road, just a five-minute stroll from the Newton Food Centre and the Newton MRT Station. It even features the stature of a District 9 address.