One Devonshire at Killiney Road Singapore District 09 - 10

One Devonshire at Devonshire Singapore District 09 - 10

Project Name - One Devonshire
Address - 150 Killiney Road
Developer - Devonshire Peak Pte Ltd
Property Type - Condominium
Total Number Units - 152
District - 9

One Devonshire Facilities:

24×7 security
BBQ
Car park
Gymnasium
Playground
Swimming pool

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Nathan Residences At Nathan Road District 10

Nathan Residences At Nathan Road District 10

Tenure: Freehold
District : 10
Completion Year: 2015
Total Number Units: 91
Site Area: 2165.8 sqm / 23,313 sqft

Unit Types:

1 bedroom - 55 – 80 sqm - { 592 sqft - 860 sq ft } (42 units)
1 bedroom + roof terrace - 94 sqm { 1011 sq ft } (4 units)
2 bedroom ~ 73– 188 sqm { 785 sq ft - 2022 sq ft }(41 units)
2 bedroom + roof terrace - 114 – 115 sqm { 1227 - 1237 sq ft }(4 units)

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Mindy Yong

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Strong demand at Nathan Residences relaunch

Strong demand at Nathan Residences relaunch 

By Joyce Teo 

FRESH evidence emerged yesterday of a possible short-term rebound in the private residential market with strong demand at a 91-unit development in River Valley.

A quiet relaunch preview was held at the freehold Nathan Residences - and 75 units were snapped up quickly. These sales were sealed even though there was no interest absorption scheme or stamp duty waiver to entice buyers.

The deals were done at $1,220 to $1,320 per sq ft - a level market observers say is not entirely cheap but is easily 30 per cent to 35 per cent below last year’s prices.

Small developer Tat Aik first released the Nathan Road project for sale in September last year. At prices averaging $1,800 to $2,000 psf, the project saw no takers.

Yesterday, the one-bedders were sold from about $730,000 to $785,000 while the two-bedders went for about $960,000 to just over $1 million. Those are the only two options at Nathan Residences - the one-bedders at 592 sq ft and the two-bedders at 786 sq ft.

All the one-bedders have been sold. The left-over units include eight penthouses costing around $1.6 million each and a few ground-floor units priced around $1.2 million.

Knight Frank, which marketed the project, said buyers were mostly couples and singles, and an overwhelming number were locals and permanent residents. HDB upgraders made up about 30 per cent of buyers.

‘This shows that confidence is back and people are willing to buy when something good comes along,’ said its executive director, Mr Peter Ow.

A new sold-out project sale nearby - The Mercury in Shanghai Road - was launched in March this year. Its 67 units went for a lower price range of $779 psf to $1,258 psf in March and April.

Market observers have said that more developers are preparing to launch their projects, hoping to bank on the renewed buying interest in the market.

Demand for new projects has generally risen as developers lower prices from earlier levels. The buying mood has also largely been helped by the recent rally in the stock market, observers said.

However, quite a number of individual sellers appear to have started raising their prices from the lows, following in the footsteps of some developers.

Upcoming major launches this month may include the 152-unit One Devonshire in the Killiney Road area, the 388-unit Oasis@Elias in Pasir Ris and Frasers Centrepoint Homes’ 330-unit leasehold project near the Woodleigh MRT station.

Source : Business Times - 6 June 2009

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Mindy Yong

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mindy@mindyyong.com