Thursday, April 16, 2009

The Peak piques interest of 4,500 potential buyers

POTENTIAL buyers yesterday thronged the showroom for The Peak @ Toa Payoh, a new project built under the Design, Build and Sell Scheme (DBSS).

Four thousand five hundred viewers turned up at the showroom at yesterday's launch, said Ms Kellie Liew, executive director of projects at HSR Property Group, the marketing agent for The Peak.

Most were keen on four- to five-room flats, citing location and HDB grants as factors influencing their decision.

Ms Cerise Chiew, 24, a teacher, hopes to buy a five-room unit. 'I can get a first-timer HDB grant. Toa Payoh is quite a good location and, if you want to sell in the future, you can get a higher price.'

Service crew member Sharon Ye, 26, was looking at four- and five-room units for her cousin. She said DBSS projects trumped private properties, as owning a private property meant losing out on many benefits, like Public Utilities Board bill rebates and town council subsidies.

Salesman Sam Tan, 38, was considering applying for a four-room flat to be near his mother. He is also eligible for a first-timer grant. He said he would pick a DBSS unit over one in a condominium since he would not use condo facilities, such as a swimming pool or a gym, but would still have to pay maintenance fees.

A few property hunters drew a comparison with Natura Loft, a DBSS project in Bishan, saying prices at The Peak were lower and the location more accessible. But some were not as convinced, including businessman Richard Lim, 37. 'I'm not going to buy because the room size is very small. I can get a 99-year condo unit for about the same price but bigger.'

Interested buyers have until April 28 to apply for the 1,203 available units.

Source: Straits Times, 16 April 2009

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