Kaeden Ong

Slashed prices at Sky Habitat’s relaunch draws buyers

Posted by Kaeden Ong on 23rd April 2014 in Blog

The relaunch of Sky Habitat over the weekend attracted a crowd of buyers as prices at the 509-unit condominium were cut by around 10 to 15 percent, media reports said.

Developer CapitaLand sold 80 units last Saturday, bringing the total number of units sold at the project to 262.

A spokesperson revealed that the three-bedders emerged as the most popular units, and around 200 cheques were collected for balloting.

Analysts noted that the strong response indicated that buyers are still very price-conscious.

Units at Sky Habitat were relaunched at prices ranging from $1,276 psf to $1,590 psf compared to $1,435 – $1,893 psf during its launch in April 2012, making it the most expensive suburban condominium in Singapore at the time.

Absolute prices ranged from $984,000 for a one-bedroom plus study to $2.18 million for a three-bedroom.

The spokesperson noted that a number of additional cooling measures have been introduced since the initial launch of Sky Habitat two years ago. She said, “Developers have to make necessary adjustments in view of the prevailing market conditions… It would not be meaningful to compare prices of units bought at different points in time.”

Aside from the discounted price, buyers said they were also drawn to the project’s location near Bishan MRT station.

PropNex CEO Mohamed Ismail said strong sales at Sky Habitat’s relaunch indicates that investors and buyers are “not ready to buy if the price is not right”.

Credits: Property Guru

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