Highline Residences, Keppel Land’s latest condominium project in Tiong Bahru, received good response from homebuyers during its closed-door preview sales over the weekend, said media reports.
Notably, over 80 percent of the first 160 units released were sold at an average price of $1,900 after taking into account a special preview discount, which ranged from $28,000 to $68,000. The project offers 500 units in total.
The price was in line with market watcher’s expectations of between $1,800 and $1,900 psf.
“This (positive response) may be due to pent-up demand for new private housing in Tiong Bahru, which has not seen a launch in the past seven years,” noted a Keppel Land spokesperson.
The closed-door sale last weekend was by-invitation-only, and for prospects who registered their interest.
Keppel Land is planning the sales launch of the long awaited project. Located at Kim Tian Road, it is within a few minutes’ walk to Tiong Bahru MRT station and the future Havelock MRT station on the Thomson Line.
According to a recent OCBC report, when The Crest, a condo developed by a Wing Tai consortium located at Prince Charles Crescent near Redhill, was launched in June 2014, only 35 units were sold at a median price of about $1,700 psf over that month.
Credits: Property Guru