New launches in prime districts set benchmark prices

By
/ EdgeProp Singapore
|
July 26, 2019 8:00 AM SGT
In July, nine private residential projects were launched for sale compared to just four last month. Of the nine projects launched, five are high-end condos located in prime Districts 9, 10 and 11, including City Developments Ltd’s (CDL) 188-unit Haus on Handy; the boutique, 35-unit Dunearn 386 by Roxy-Pacific Holdings; and the 117-unit The Hyde by Aurum Land.
According to CDL, about 23 out of 30 units released at Haus on Handy in prime District 9 have been sold since its launch on July 5. The 188-unit, high-end condo achieved an average price of $2,860 psf.
About 23 out of 30 units released at Haus on Handy in prime District 9 have been sold. (Photo Credit: CDL)

For price trends, recent transactions, other project info, check out these projects' details page: Haus on Handy, Dunearn 386, The Hyde, Sloane Residences, Juniper Hill, View at Kismis, JadeScape, and Piermont Grand.
Meanwhile, Roxy-Pacific has sold about 10% of the 35 units at Dunearn 386, located at 386 Dunearn Road in prime District 11. Average price achieved was just under $2,500 psf.
At The Hyde on Balmoral Road in prime District 10, about four units have been sold based on caveats lodged, although there are more under negotiation, according to its developer. Average price of units sold at The Hyde is $3,004 psf.
Nearby, also along Balmoral Road, is the 52-unit Sloane Residences (a redevelopment of the former Sloane Court Hotel). Four units have been sold at an average price of $2,906 psf since last month’s launch.
One street away on Ewe Boon Road is the 115-unit Juniper Hill by Allgreen Properties. The freehold development officially launched on July 13, and based on caveats lodged, eight units have been sold at an average price of around $2,800 psf. The project is also located in prime District 10.
According to Lee Sze Teck, head of research at Huttons Asia, some of the new projects, especially those in the Core Central Region, are being launched at “benchmark price points” for their respective districts. “The higher price points are due to cost pressure rather than just profiteering by developers,” he adds.
In District 21, View at Kismis...
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