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As another mega condo launches, will there be enough demand in Singapore's property market?

As another mega condo launches, will there be enough demand in Singapore's property market?.

SINGAPORE: A new property launch touted as Singapore’s largest private residential project opened for preview on Friday (Mar 15), amid signs of a rebound in home-buying activity.

Treasure at Tampines, which sits on the sprawling 650,000 sq ft site of former Tampines Court HUDC estate, will offer 2,203 units. This makes it the biggest condominium development here, said developer Sim Lian Group which acquired the collective sale site for S$970 million in 2017.

Sales are slated to start later this month for its one to five-bedroom units at approximately S$1,280 per square foot (psf).


This follows the launch of another mega project earlier this month – Florence Residences, a 1,410-unit leasehold project in Hougang with an average selling price of nearly S$1,400 psf. Developed by Logan Property, this takes the site of another HUDC estate Florence Regency that was also sold en bloc in 2017.

A few more juggernaut projects offering more than 1,000 units are in the pipeline, according to market observers. These include Parc Clematis, Avenue South Residences and the former Normanton Park, said Huttons Asia's research head Lee Sze Teck, though Treasure at Tampines could remain the biggest in terms of units on offer.


To read more at
https://www.channelnewsasia.com/news/business/as-another-mega-condo-launches-will-there-be-enough-demand-in-11347928

Adapted from The Channel News Asia 16 March 2019