Property showrooms were abuzz last weekend. With buyers looking to buy following the January cooling measures. Developers are hoping to tap into the pent-up demand which has been on hold since early this year. As the dust settles in the HDB market following its series of announcements after the Budget talks last week, the private property market is taking the chance to capture as much interest as they can now.
Hoping to catch some fishes are D’Nest near Pasir Ris MRT station, Sennett Residence and The Trilinq. Residential properties in the CBD areas may also need to watch for the launch of Far East Organization’s mixed use commercial property SBF Centre. When complete, the influx of 196 office units and 48 medical suites may bring business to other residential properties in the vicinity.
Units at D’Nest were going for an average of $999 psf but there is an early bird price of $920 psf, but that is after the 7 per cent direct discount to temper the sting of the additional buyers’ stamp duty. Launch prices are set at $498,000 for a small 484 sq ft one-bedder to $1.15 million for a 1, 270 sq ft four-bedder. This Pasir ris condominium is set to receive its Temporary Occupation Permit (TOP) in 2017. Prices of surrounding condominiums might benefit from its overflow and one should take note that its developer, CDL, still have space left for further development in the same area. Might we expect new residential projects nearby soon?
In Potong Pasir, Sennet Residence which as has already sold 70 per cent of its 332 units, sold 175 last Wednesday alone. Units there are priced at $1, 450 psf and the area which is largely yet untapped by new HDB launches, have drawn interest from private property buyers in the past. If new properties enter the market later this year, this might be a spot to watch.