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Two high-end condo development are go to the market in the in the second half of the year amid a rapid increase in new private houses sales recently.
According to analysts, the District 9 development - New Futura by City Developments Limited (CDL) and Martin Modern by GuocoLand Group are attract foreign and local buyer if developer give the "correctly" units price.
Christine Li, Cushman and Wakefield research director estimates that Martin Modern will be well-accpected, "as the premium residential properties seems to be bottoming".
In Quarter I of 2013, non-landed private house prices in the core central urban were down 10.3 per cent as at 31st, March from a peak.
OrangeTee head of research and consultancy, Mr Wong Xian Yang said that Non-Singaporean demanded for Singapore developments is also quite slowly recovering, which bodes well for core central region real estate.
Yesterday, GuocoLand told The Straits Times that Martin Modern @ Martin Place will ofer two 30-storey towers are set in lush greenery, 450 apartment units with units mix ranging from two bedroom to four bedroom units.
More than 80 per cent of the land site will be become a "unique botanic garden" with more than 50 species of palms and trees and over 200 species of plants.
Martin Modern Condo is a new iconic superb luxurious development by Guocoland at Martin Place. Take a look to make sense high-end facilities and landscape design.
The developer GuocoLand said it is quite confident about the 99-year leasehold development, partly owing to the recent strong sales at its Leedon Residence project.
Group managing director at GuocoLand Singapore, Mr Cheng Hsing Yao said that they got a sense that a lof of buyer there take a view that premium property segment offers very high value then.
In the first three months of the year, the condo sold 42 units with total sales value of $250 million @ Leedon Residence, off Farrer Road,
One of the agencies marketing the development, PropNex Realty said the Martin Modern indicative average price for units is about $2,300 per sq ft (psf).
Martin Modern is target to launch in May or Jun 2017. Special TOP promation price: 2BR is from $1.84m only, average $2300 psf. Take a look at Price Range to explore more information and discount scheme.
CDL said price range the freehold project New Futura at Leonie Hill Road will be indentified closer to the launch date.
OrangeTee's Mr Wong believes that units price range will be upwards of $2,700.
CDL spokesman added, the freehold development offer two 36-storey towers with 124 units across a variety of two-bedroom to five-bedroom penthouses, unit size ranging from 1,098 sq ft to 7,825 sq ft.
Even though cooling measures have remained largely in place, sentiment in the residential property market has turned more better.
Research head at Colliers International, Singapore, Ms Tricia Song told that they blieved it was due to the better economic situation, as shown in greater trade growth and manufacturing since the fourth quarter of 2016
There were 3,141 new private house sold in the first quarter, more than double the 1,419 moved last year.