Launched on April 7, all 170 units at The Verandah Residences have been sold in just slightly over 3 months, netting the developers $248.8 million.
Oxley Holding’s first project launched in 2018 sold out
Developed by Oxley Holdings, the private condominium located at 231 Pasir Panjang Road consists of 167 apartment blocks in 4 five-storey blocks and 3 strata houses.
The average selling price here was $1,795 psf. The 89,620 sq ft site was purchased by the developer last year for $964 psf ppr. The positive response from buyers might be due to the property’s good location.
It is situated near both the Haw Par Villa and Pasir Panjang MRT stations and in close proximity to a number of malls such as Vivocity, Star Vista, and Holland Village. Recreational areas such as the resort island of Sentosa, Kent Ridge Park, and The Southern Ridges are also just a stone’s throw away. For those who drive, the Ayer Rajah Expressway (AYE), Bukit Timah Expressway (BKE) and Pan Island Expressway (PIE) are all within close reach.
Positive response from buyers may boost future launches
The developer, Oxley Holdings, is happy with and encouraged by the positive response from buyers for this project. This has shown that buyers are still in search for quality projects delivered on time.
The Southern districts, though mature in many ways, still have a great deal of growth potential, thus for buyers in search of a good deal, future launches may warrant serious consideration.
The National University of Singapore and Singapore Polytechnic are also located in the same region, with the town centre easily accessible by public transport.