UOL GROUP LIMITED's Botanique At Bartley, FCl start sales at new condo

Over 150 units sold at Botanique at Bartley, and over 300 units sold at North Park Residences in Yishun.

Over 150 units sold at Botanique at Bartley
UOL GROUP LIMITED said it sold more than 150 units at the Botanique at Bartley at an average price of S$1,290 per square foot (psf) over two days. Some 300 units of the total of 797 units were released. In Yishun, Frasers Centrepoint Ltd (FCL) sold over 300 units when it started sales on Sunday for the 920-unit North Park Residences during a "soft launch" for buyers who registered interest, according to its marketing agents.

UOL GROUP LIMITED general manager of marketing Anthony Wong said that there is "good interest across all unit types" for Botanique at Bartley, particularly for the two-bedroom units. "We believe the positive response is due to the development's high-quality specifications and design, proximity to MRT station and realistic pricing," he said. "Given the strong sales momentum, we will be offering new stacks to give buyers more choices." This development on Upper Paya Lebar Road, a three-minute walk from Bartley MRT Station, comprises one, two and three-bedders. More than 70 per cent of the units are priced below S$1 million to ensure their affordability, following loan curbs imposed in June 2013.

North Park Residences

An artist’s impression of North Park Residences, which offers studios to five-bedders.
R'ST Research director Ong Kah Seng noted that though the weekend sales showing was encouraging, "we shouldn't read too much into these two projects and conclude that overall buyers' interest has improved" as the two projects have their own strong attributes.

In the case of Botanique at Bartley, prices seem to be fairly competitive, he said. "Essentially, the area's average pricing is less than S$1,300 psf, which is an accessible price level in today's market. Bartley is a very well-conceptualised new residential enclave and buyers see a lot of potential in it."

As for North Park Residences, the main draw is its mixed-development concept, with its seamless connection with a transport hub and retail mall, Mr Ong said. "Yishun is far-flung but it's a major housing estate in the northern part of Singapore. Most HDB upgraders would want to stay in the same area." According to marketing agents for North Park Residences, early-bird prices for studio units of 431 sq ft start from S$612,000 and one-bedroom plus study units (549-560 sq ft) start from S$758,000. A two-bedder of 624 sq ft starts from S$840,000 while a three-bedder costs S$1.049 million and above.

The four-bedroom deluxe and five-bedroom units start from S$1.496 million and S$1.79 million respectively. To sweeten the deal, FCL offered Frasers Centrepoint Malls shopping vouchers worth thousands of dollars to buyers on Sunday, the agents said. Meanwhile, sales were still moving at projects launched earlier this year. Since its launch on Feb 14, GuocoLand's 1,024-unit Sims Urban Oasis at Aljunied has sold a total of 220 units up to Sunday.

Of these, 112 units were sold at a median price of S$1,397 psf in February, according to the survey on developers' sales by the Urban Redevelopment Authority. At Kingsford Waterbay, a 1,165-unit development in Upper Serangoon, close to 170 units have been sold at an average of S$1,100 psf till Sunday since its launch on March 7, of which 140 units were snapped up during the first weekend. Shenyang-based Kingsford Development chairman Cui Zhengfeng attributed the slackening sales pace to tepid market conditions.

But there are no plans to cut prices as the "pricing is already low given the estimated breakeven price of S$1,050 psf", Mr Cui said. Kingsford Waterbay will cover two amalgamated government land sales (GLS) sites with a combined 400-metre direct frontage of Sungei Serangoon. Sources: www.businesstimes.com.sg

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