Small private condominium units popular again

 

NeemTreeIt seems the 2 most recent new condominium launches got buyers all hot and happy, snapping up 526 units at the 920-unit Northpark Residences and 254 in Botanique at Bartley. Most of the buyers were HDB upgraders, with private buyers and foreigners making up one third.

Contrary to previous figures which showed a dip in interest in smaller units, the studio, one- and two-bedders went the fastest at Northpark Residences. The average selling prices were between $1, 300 and $1,400 psf. Smaller units may be increasingly in demand, and perhaps upcoming launches may expect to see a similar trend.

Over at Botanique @ Bartley, the median selling price was at $1,290 psf. Close to 85 per cent of its units sold were below $1.2 million in total quantum price. Some of the other launches which continued to sell well were Sims Urban Oasis and City Gate.

Were these bigger developments more popular with buyers? A much smaller new property, the 84-unit Neem Tree in Balestier, seemed to have trailing in the wake of these 2 larger launches. They have yet to sell any of the 24 units they put out for sale. Property experts have read this recent leap in new property sales cautiously, as most of the sales were from only 2 launches which were priced to suit buyers’ current expectations of lowered prices.

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