Close to 31% of units sold at 1953

By
/ EdgeProp Singapore
|
March 10, 2019 11:06 PM SGT
A mixed-use development named 1953 by developer Oxley Holdings, was launched over the weekend of Mar 9-10. The boutique development located on the corner of Balestier Road and Tessesohn Road, contains 72 units, of which 58 are apartments and 14 are strata commercial units.
The freehold development contains a conserved two-storey shophouse integrated with a new six-storey block. The appointed design architect for the project is Park + Associates, with Ecoplan as the landscape architect. Meanwhile, 2nd Edition is the project’s interior designer.
Crowd on Sat Mar 9, first day of launch at 1953 sales gallery (Credit: Oxley Holdings)
The project was launched via placement of units, says Eugene Lim, Oxley Holdings’ marketing and sales director. “The turnout and sales have been very encouraging,” he adds. “Feedback was buyers like the architecture and the product. It’s a rare opportunity for buyers to own a freehold development with a conservation element.”
ADVERTISEMENT
According to Oxley, 22 units – 19 residential and three commercial - were snapped up as at 6pm on Sunday, Mar 10. The residential units fetched an average price of $1,875 psf while the commercial units were sold for an average of $3,185 psf.
Residential apartments range from two-bedroom-plus-study units of 614 sq ft to four-bedroom units of 1,399 sq ft. Retail units are from 700 to 786 sq ft.
The number of units sold translates to about 31% of the total number of units in 1953. “This makes 1953 the best-selling, boutique development in 2019 so far,” says Oxley’s Lim.
“The pricing of the units proved to be attractive given that it’s a freehold development in a city-fringe location,” says Ismail Gafoor, CEO of PropNex Realty. “Most of the city-fringe projects that are freehold today are priced above $2,300 psf and even some 99-year leasehold projects in the city fringe are around $2,000 psf."
ADVERTISEMENT
Adds Gafoor: "The sales rate at 1953 shows that even though buyers may be price-sensitive, if they perceive that a project presents good value, they will still make a purchase."
Follow Us On
Our Sites
Edgeprop.sg (previously known as The Edge Property Singapore) – is the best property portal for home-seekers, buyers, investors and real estate agents alike in Singapore. On EdgeProp, you will be able to find all the latest news and views, informational guides, historical transactions and rental searches, and research data and analysis.
Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDB flats, landed houses or commercial properties, we bring you Singapore’s the most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions.
Make better decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property and find properties below market value in Singapore. Meanwhile, discover all things en bloc, including Singapore en bloc news, trends and our En Bloc Calculator, which helps to determine the probability of a Singapore project being put up for collective sale.
Web Version 3.6.16
Aside from that, EdgeProp also offers a market trend tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heat map that lets you find out where all Singapore’s most popular property sales locations are, a HDB lease tool that lets you calculate your HDB tenure, an affordability calculator, and a property watch list to track your preferred Singapore property by project or location, as well as new launches.
On the lookout for undervalued property or buying to rent? EdgeProp’s powerful search filters let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools and childcare centres, or a good-value condo with a sea view – so that you find exactly what you are looking for.