JUST over half the 400 units of the 99-year leasehold Commonwealth Towers, launched on Thursday, have been sold.
The project on Commonwealth Avenue has its 845 units spread across two 43-storey towers, which offer views of the city and the Southern Ridges. The units have between one and four bedrooms and range in size from 441 sq ft to 1,302 sq ft. Betsy Chng, who heads sales and marketing at Hong Leong Holdings, said of the 210 units taken up: “We are very happy with the response, given the tough market today. Many applications are still being processed. Some buyers are still waiting to find out whether they comply with the Total Debt Servicing Ratio Framework.”
(The framework requires financial institutions to consider borrowers’ other outstanding debt obligations when granting property loans. Its aim is to strengthen credit underwriting practices and encourage financial prudence among borrowers.)
Prices for single bedders start at $721,000 and two-bedders, at $965,000. The three-bedders are either 904 sq ft units without yard and utility room (from $1.4 million), or 1,050 sq ft units with yard and utility (from $1.7 million). The four-bedroom units start at $2.2 million. An early-bird discount is available until tomorrow.
Credits: ST Property