Introducing Cross Island Line into MRT Map Has A Strong Boost To Riverfront Residences
Private Residential Market Overview
In February, there have been no new private program was launched, but the new launched private residential market had a strong boost in sales when new Cross Island Line got announced to improve the connectivity of the MRT.
The Urban Redevelopment Authority had shown the latest data released last week showed that new home sales fell two months later, in February to 455 units, 4.4% more than in January.
Located in the Serangoon North, Affinity at Serangoon sales in January, February, ranked second with a promotion to the top of the rankings, sit tight bits. The project was sold last month 88 units with the median price per square foot for $1494.
The Oxley Holdings Limited is the leading real estate developer for many of this residential project, the distance between Serangoon North station only 350 metres, there were a total of 1,052 units, since June last year after the launch of 437 residential units have been sold.
Then the Riverfront residences and The Tre Ver, the two new residential condos from January were ranked eighth and ninth, February jumped to second and third. Riverfront Residences is also quite close to the Hougang MRT station, a station along the Cross Island Line.
In February, the two mega projects sold units with a median price of $1,322 and $1,574.
The Riverfront Residences is located at Hougang Avenue 7, condo status that comprises 1,472 units. The project is also developed by Oxley Holdings Limited which has so far sold about six percent.
The Tre Ver sits on the site of former HUDC at Potong Pasir estate. Developed by UOL, the project comprises 729 units with current sales total of 308.
The fourth is ranked ahead of a new round of property cooling measures introduced before Stirling Residences, in February to sell 31 units, with a median price of $1,777. This private condominium project has a total of 1,259 residential units. Currently sold a total of 553 units.
Logan Property and Nanshan Group are the property developers behind Stirling Residences. The project is expected to be completed in the year 2022.
Parc Botannia, last month sold a total of 28 units. This mid-sized private project has 735 units, units sold up to 67%.
Finally, Margaret Ville, in February the 14 units sold.