Inspite of the vying terms and discount tenders by several developers, transactions persist to progress in the core central region and high quantum luxury properties.
In the initial half of 2016, luxury properties that are priced $5 million and above became unexpectedly higher than the full transactions in the whole year of 2015 with already 131 properties transacted as likened to last year's total of 166 affluent units sold.
With a reasonable value of approximately $2,600psf, the Gramercy Park at Grange Road by City Developments Limited, has reportedly dealt 30 units within two calendar months despite being privately launched. Purchasers who were generally Singaporeans bought 2-bedroom unit at virtually $3 million and 3-bedroom unit projecting from $4.7 million.
New extremely coveted luxury property by Capitaland is landed development Victoria Park Villas, which showed 10 units sold merely within a calendar week of preview sales in July 2016 on a first come first serve basis. This lavish property is predicted to sell about $6 million with cost starting from $4.3 million for the total 3 bungalows and 106 semi detached units.
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