The Real Deals (22-11-2012)

This latest issue by Maybank-Kim Eng Research is all about the Bartley area. So for those who are eyeing the two new projects along Bartley Road (i.e. Bartley Residences and Gambir Ridge) or wish to know what else is slated to happen around the area, this one for you!

Click on the link below to read the full report:
http://www.scribd.com/doc/114132300/The-Real-Deals-22-11-2012#fullscreen

New project sales status: Parc Rosewood, Guillemard Edge & Bartley Residences etc

Home sales over the past week stayed strong, with few signs of the expected declines brought about by December's property measures.

Parc Rosewood
Parc Rosewood at Woodlands has moved 55 more units since Monday last week, bringing total sales at the 689-unit project to 565. Prices have averaged $1,000psf.

Guillemard Edge
Macly Group's Guillemard Edge in Geylang has nearly sold out. Last week, the developer reported sales of more than 230 units. Since then, about 40 units have been sold with prices ranging between $1,180psf to $1,250psf.

Bartley Residences
Hong Leong Group is understood to have sold about 160 units at Bartley Residences since Tuesday last week. the average price after discounts is $1,240psf.

In addition, 917 of the 992 units at Watertown have been taken since sales began in January. As for The Hillier, 446 of the 528 units have found takers, while the 748-unit euHabitat has seen 651 units being snapped up.

Source: The Straits Times & Business Times

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Bartely Residences: 65 units sold on preview!

Hong Leong Group yesterday sold 65 units at Bartley Residences at an average price of $1,240psf after a discount of up to 20%.

During yesterday's preview, it released 120 units in the 702-unit, 99-year leasehold private condo next to Bartley MRT Station. According to Hong Leong, 90% of the buyers at yesterday's preview were Singaporeans and permanent residents.

The absolute price of a one-bedroom unit ranges from approximately $610,000 to $670,000; a two-bedroom unit ranges from $970,000 to $1.1 million; three-bedroom unit is between $1.2 million and $1.4 million; a four-bedroom ranges from approximately $1.65 million to $1.9 million; and a dual-key unit ranges from around $1.8 million to $2.1 million.

The average price psf of $1,240 is after absorption of 18% (including the standard 3% buyer's stamp duty discount, and 3% early bird discount), and an additional 2% district discount.

The project - developed by Bartley Development, a joint venture between Hong Leong Holdings, City Developments, and TID Residential - is located next to Bartley MRT station, and offers a range of unit types, from one-bedroom units (464sqft) to four-bedroom units (1,345 - 1,377sqft), and dual key units (1,603sqft).

In January, the consortium won the 99-year leasehold private condominium housing plot at Mount Vernon Road. their bid came in at $388.1 million, or $495psf ppr.

Source: The Business Times

This looks to be another "gold mine" for Hong Leong and company, if the take-up rate is anything like that for Watertown...
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