At a couple of the most recent property launches – Principal Garden and Thomson Impressions, smaller units such as one- and two-bedders were the stars of the show.
The developers of both properties have managed to hit it off with the buyers with smaller apartments. As buyers are now more price-conscious, it was no surprise that these units priced below the $1 million dollar mark sold fast and furious. At Principal Garden alone, 120 of the 200 units launched last weekend were sold at a $1,600 psf median; 70 per cent of the 663-unit Prince Charles Crescent project consists of one- and two-bedroom apartments ranging rom 484 to 807 sq ft. For a gauge of the quantum prices here, selling prices of a one-bedder started from $777,000 and $1.18 million for a two-bedder.
Photo: Principal Garden
Another much talked-about new property, Thomson Impressions, also launched 150 units last week, and 87 have since been sold at an average of $1, 393 psf. Similar to Principal Gardens, 60 per cent of the 288-unit Lorong Puntong property near Sin Ming Avenue are made up of one- and two-bedders. With its prime location near the future Bright Hill MRT station and many good schools, one-bedroom apartments at Thomson Impressions were going from $670,000.
About 85 per cent of the buyers at the launch were Singaporeans, which could signify a comeback of sorts for the private property market. Sales figures may indicate a shift to more palatable quantum pricing and smaller apartments.