Logan Property has hired five bureaus to advertise the job – PropNex, ERA, SRI, OrangeTee & Tie and Huttons Asia. Virtually all the sales were reserved on Saturday. PropNex chief executive officer Ismail Gafoor advised BT:”Nowadays, investors and buyers still have loads of alternatives within this radius and area, namely Riverfront Residences, Affinity in Serangoon, The Garden Residences and florence residences showflat .”
I understand that a number of my friends have begun considering purchasing another property as a portion of the investment strategies. With the latest revisions from the URA guidelines, it might be more challenging in the future to find competitively priced units in regions like District 19. With its proximity to industrial and business nodes like Lorong Halus Industrial Park, Defu Industrial Estate and Tai Seng Industrial Estate, there’ll be need for rental units in The Florence Residences if the growth is ready for occupation.
Over 200 units are offered at these four jobs in the previous four months following details of the forthcoming Cross Island MRT line were shown in the end of January, despite February being the Chinese New Year period. “Affinity sold near 100 units at the previous four months, Riverfront over 50, Tre Ver over 50, Garden over 20.”
Mr Ismail added:”Present developers are still competing at sensitive prices and there are just so many buyers at any specific area” PropNex closed nearly half of their earnings for Florence Residences together with the majority of the buyers being dwelling upgraders looking in two- and three-bedroom units, Mr Ismail said.
Two smaller jobs, the 92-unit Nyon condominium in Amber Road and The Essence, an 84-unit condominium off Sembawang Road also clocked their initial earnings within the weekend. A spokesman for Nyon declined to comment on earnings.
International Property Advisor chief executive Ku Swee Yong advised BT on Sunday:”For yesterday’s launching of Florence Residences, Nyon and The Essence, I’d say these weak sales amounts are definitive affirmation of this over-supplied scenario in the residential industry.”