HO Bee Investment will preview its Trilight condo at Newton Road this week at an average price of about $1,650 per sq ft, the group's chairman and CEO Chua Thian Poh told BT yesterday.
Ho Bee will not offer an interest absorption scheme (IAS) for the 30-storey freehold condominium project, located on the highest point in the Newton area.
The latest scheme comprises 104 two-bedroom units ranging from 1,109 to 1,227 sq ft; 74 three-bedders in two sizes (2,099 and 2,110 sq ft) and 24 four-bedroom apartments of 2,336 sq ft. Trilight will have three penthouses - two units of 5,200 sq ft and one of 5,800 sq ft.
The typical two-bedder will cost under $2 million.
CB Richard Ellis and DTZ will market the project.
Market watchers say the $1,650 psf average price is within the range of recent transactions in the area. In nearby Bukit Timah Road, units at Ferrell Residences sold for between $1,556 psf and $1,931 psf in July-August.
And Madison Residences nearby sold at $1,567-1,745 psf in August, according to Urban Redevelopment Authority information on developer sales.
The high-end housing market is stirring again after Hungry Ghost Month. Far East Organization has sold a dozen units over the past couple of weeks at its Alba project in Cairnhill Rise. The unit sizes are 1,862, 2,066 and 2,250 sq ft.
They are among a clutch of 18 units Far East released on the second to seventh levels of the 18-storey freehold condo, which has a total of 50 units. The average price achieved for the 12 units sold is $2,300 psf, with the highest price being $2,500 psf.
Under the freehold project's 'white plan', Far East can customise apartment layouts to suit buyers' preferences.
Source: Business Times, 7 Oct 2009
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