Activity at Sky Vue, The Panorama
By Tan Chee Yuen
/ The Edge Property |
The 694-unit Sky Vue in Bishan Central was 97% sold as at end-August, according to CapitaLand and Mitsubishi Estate in an announcement on Sept 3. The condominium project with twin 37-storey towers obtained its Temporary Occupation Permit on July 21.
According to caveats lodged in the week of Aug 30 to Sept 6, the units sold in August included three 678 sq ft, two-bedroom units located on the 34th to 36th floors of one of the twin towers. Prices of the units sold ranged from $1.17 million ($1,720 psf) to $1.21 million ($1,788 psf).
The remaining 22 units are also mainly two-bedders, ranging from 678 to 829 sq ft, and priced from $1.16 million, says CapitaLand. Also available are 484 sq ft, one-bedroom units and two penthouses of 2,045 sq ft each.
The remaining 22 units at Sky Vue are mainly two-bedders ranging from 678 to 829 sq ft and priced from $1.16 million
Source: CapitaLand
The take-up rate at the 99-year leasehold condo project has picked up since early this year, when a $150,000 discount was offered to homebuyers. Another wave of sales followed after its completion. Its popularity is due to its location — within a five-minute walk from the Bishan MRT interchange station, Junction 8 shopping mall, popular schools such as Ai Tong Primary and Raffles Institution, and the Bishan-Ang Mo Kio Park.
Meanwhile, in the popular city-fringe neighbourhood of Ang Mo Kio, Wheelock Properties’ The Panorama is also seeing brisk sales. According to agents, there were only 25 units left in the 698- unit condo project as at end-August. The development, which comprises two 20-storey blocks and four 17-storey blocks, is scheduled for completion in either 2018 or 2019.
From May to July, monthly the number of new home sales at The Panorama ranged from 18 to 32, according to URA data. “Attractive pricing, with three-bedroom units starting from $1.2 million, is the key reason behind the good sales performance,” says an agent with Knight Frank, who declined to be named.
Two units at The Panorama were sold in the week of Aug 30 to Sept 6. One was a 990 sq ft, three-bedroom unit on the third floor that fetched $1.21 million ($1,223 psf), while the other was a 1,012 sq ft, three-bedroom unit on the ground floor that was sold for $1.20 million ($1,185 psf).
The Panorama is a 99-year leasehold condo development on Ang Mo Kio Avenue 2. The project is located near the upcoming Mayflower MRT station on the Thomson-East Coast Line, which is scheduled to open in 2020. The project is also located adjacent to the popular CHIJ St Nicholas’ Girls School.
Launched in January 2014, The Panorama initially saw tepid sales. The developer took a $110 million provision for the project, which was relaunched in May 2014 with discounts of at least 10%. The Panorama is 96% sold. The one- and two-bedroom units as well as two-bedroom-plus-study units are fully sold. Still available are 1,066 sq ft, three-bedroom units priced from $1.22 million to $1.3 million and 1,163 sq ft, three-bedroom-plus-study units priced from $1.36 million to $1.42 million.
Also available for sale at The Panorama are 1,561 sq ft, five-bedroom units priced from $2.43 million to just under $2.5 million. There are also six penthouses of 1,787 to 2,411 sq ft and priced from $3.37 million.
This article appeared in The Edge Property Pullout, Issue 746 (Sep 19, 2016) of The Edge Singapore.
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