Saturday, July 10, 2010

New Thomson condo units selling well

BUYERS have snapped up 96 of the 120 units launched at the 368 Thomson condominium since previews began on Thursday.

The District 11 development was priced at an average of $1,350 per sq ft (psf).

Sale prices ranged from $918,000 for a 689 sq ft one-plus-study flat to $4.4 million for the 3,391 sq ft five-bedroom penthouses.

The 36-storey tower, which will be built on the former Concorde Residences site in Thomson Road, will have 157 units. They comprise 31 one-plus-study flats, 62 two-bedroom units, 31 three-bedders, 31 four-bedroom units and two penthouses.

City Developments (CDL) said it will release more units to cater to demand.

The private preview - for former owners of Concorde Residences, Balestier Court and Bright Building, as well as CDL directors and staff - started on Thursday. The public were admitted yesterday.

Most of the buyers were Singaporeans, with permanent residents and foreigners - mainly from Malaysia, Indonesia, China and Hong Kong - making up 25 per cent, CDL said.

Its general manager, Mr Chia Ngiang Hong, said the strong demand for the project is testament to the popularity of the prime District 11 vicinity.

Buyers will also benefit from the growth cluster in the area, he said.

The developer launched Cube 8, a 36-storey condo comprising 177 units, in January in Thomson Road, on the site of the former The Albany and Thomson Mansion.

The Cube 8 project is next to CDL's The Arte in Thomson, which it began selling in March last year at an average price of $880 psf.

The 368 Thomson estate is expected to be completed in 2015.

Terrene at Bukit Timah has also sold well. More than 50 out of the 85 units launched at the preview sale for developers UOL and La Salle's business associates and staff were taken.

The average selling price for the 999-year leasehold condominium was $1,250 psf.

The project offers over 140 one- to four-bedroom apartments, and 30 three- to five-bedroom penthouses, all with rooftop jacuzzis.

Sizes vary from 506 sq ft for a one-bedder to 3,025 sq ft for a five-bedroom penthouse. The development is expected to be ready by April 2014.

Source: Straits Times, 10 Jul 2010

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