Hoi Hup's Kovan Regency, consisting of 393 mixed condominium and strata-landed housing units, were among the top five best-selling projects in September.
The 99-year leasehold Kovan Regency has a wide range of unit types: one-bedroom (506 to 700sqft), two-bedroom (624 to 775sqft), three-bedroom (893 to 1,389sqft), four-bedroom (1,281 to 1,507sqft) units, penthouses (689 to 2,260sqft) and strata terraces (3,692sqft to 3,864sqft). During its launch last month, it sold 369 units at a median price of $1,275sqft. In fact, over 90% of the units sold were done in the first weekend of private previews.
According to Lisa Goh, property development manager of Hoi Hup, Kovan Regency's smaller units sold the fastest. Most of the buyers are locals who already own a landed property in the
Simon Road area, observes Goh. She notes that there have been families who purchased several units on the same floor in order to live close to one another. While there have been a few investors, Goh says most of the buyers are getting the units for their own use.
The main attraction among buyers is Kovan Regency's proximity to the Kovan MRT Station. It's also located within walking distance to Heartland Mall and Kovan Hougang Market and Food Centre. Schools such as Paya Lebar Methodist Girls,
Xinmin Primary School, and are also nearby. The development will be completed in 2016. Yuying Secondary School
Kovan Regency is Hoi Hup's second launch this year. It launched the 99-year leasehold, 376-unit Sea Esta in Pasir Ris earlier this year. The development consists of one- to four-bedroom units and penthouses and is located close to White Sands shopping centre, Loyang Point and E!Hub Downtown East. According to Goh, there are 16 units left for sale at Sea Esta.