It looks like an early christmas for developers of DUO Residences in the Rochor district. With less than 100 units left since its launch last weekend, business has been brisk, to say the least. As an inaugural project between Temasek Holdings and Khazanah Nasional, bumper sales made the day.
78 per cent of the buyers were Singaporeans and Malaysians made up for 16 per cent of the foreign buyers, with Chinese, Indonesian and American buyers making up the rest of the numbers. DUO Residences’ mixed-use development title has been the main attraction of the property. Buyers like the convenience and centrality of the DUO, which is situated near Kampong Glam. There are 660 units in total within the 49-storey residential block and the project will also contain a 39-storey commercial and hotel complex. Being situated near the town centre and Central Business District makes the DUO investor-worthy.
The average selling price of the 468 units sold as of last Saturday stood at $2, 000 psf. 540 units were released during the launch. Though industry players are expecting the recent turn out at the DUO to water down response at future launches, others say that each property’s unique selling points and locations may make for a different pool of investors. So, if you’re looking out for similar projects, then Guocoland‘s Clermont Reisdences and City Development‘s South Beach could also be hot sellers.