Kingsford Waterbay sells 40% of 320 new units in weekend launchedThis new mixed-user development at Upper Serangoon View has sold over 40% of the 320 units, which were launched over the weekend if you are looking at the media reports. 140 units sold, which may be some kind of record in today’s market.
The prices varied depending on number of units and ranged between $1,050 and #1,180 psf.
Kingsford Waterbay is a 1,165-unit development which when completed will feature a six strata terrace design with two strata featuring semi-detached homes. The complex also has its own childcare center and six retail outlets.
Kingsford Waterbay Sales
The Chinese developer sold a variety of offerings with Semi-Ds’ One Strata terrace. Six retail outlets went as well with the shop sizes ranging from431 to 452 square feet. The prices were locked in at $2,700 psf.
The sales were brisk and jumped into the 3-figure range on the first day (Saturday). This surprised consultants at the amounts and number sold in this slow property market. In addition, was remarked on by industry consultants. While a few attributed the great sales to the very attractive agent commission incentives and commissions, however, Ong Kah Seng Research Director for R’ST attributed it to the pricing on the units themselves.
The 2 and 3 bedrooms flats where the most popular units as they go along with the trend of quantum friendly units that have been sold since the Total Debt Servicing Ratio (TDSR) framework went into effect.
The chairman of the board for Kingsford development Cui Zhengfeng also remarked that the two-bedroom flats were also very popular as most of them face the river.
Kingsford Waterbay Upper Serangoon View
Built on Adjacent governmental land sale sites, this project has a 99-year leasehold and has a combined 400 m direct frontage of Sungei Serangoon.
Mr. Cui Also mentioned that most of the buyers were needed Singaporeans.
Mr. Ong of RST In his statement said that the majority of buyers would be owner-occupiers rather than investors or those who wanted properties to sublet in lease.