Tag Archives: Landed

2 freehold landed projects off Upper Bukit Timah launching this Friday

Artist’s impression of Kismis Residences, the first new launch of 2018.  

Singapore-listed property developer Low Keng Huat is launching two new freehold landed housing projects this Friday (5 January) to kick off 2018, marketing agent ERA Realty Network revealed in a statement. 

ERA and OrangeTee & Tie are jointly marketing both Kismis Residences and the adjacent TRANQUILIA@Kismis. This is the largest landed development to be launched after a long while in Lorong Kismis and Eng Kong Park, which is located off Upper Bukit Timah.

Kismis Residences is a 31-unit project that comprises eight corner terrace houses and 23 intermediate terrace houses.

Each house features five levels of living space and is served by a private lift. The built-in areas are large, ranging between 4,700 to 5,500 sq ft and include five en-suite bedrooms and a car porch. 

The intermediate terrace houses are priced between $ 4.155 million to $ 4.464 million, while the corner terrace houses are priced from $ 5.003 million to $ 5.282 million.

Meanwhile, the strata-landed TRANQUILIA@Kismis development comprises seven units. The approximate strata areas range from 4,359 sq ft to 5,597 sq ft, with prices from $ 3.521 million to $ 4.255 million.

The two projects are located close to Beauty World MRT station on the Downtown Line, shops and eateries at Bukit Timah Plaza and Beauty World Plaza, as well as educational institutions such as Ngee Ann Polytechnic and the National University of Singapore.

“Over the soft launch period in December 2017, we managed to secure buyers for 50 percent of the units released for sale. For Kismis Residences, nine out of the 15 units found buyers; while for TRANQUILIA@Kismis, two out of the seven units found buyers; making it a total of 11 units sold out of the 22 units that were released,” said Eugene Lim, key executive officer at ERA Realty.

Lee Yoon Moi, chief operating officer at Low Keng Huat, added: “We are pleased with the results thus far. It shows the strong following amongst home buyers for landed homes within this established neighbourhood.”

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

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Landed home sales surge as prices drop to attractive levels

The ongoing recovery in the housing market saw landed home sales surge in the first 10 months of 2017 as landed property prices fell to attractive levels from their Q3 2013 peak, reported Business Times.

Between January and October, the number of landed homes sold stood at 1,513 units, up 50 percent from the 1,009 units moved over the same period last year.

Based on Savills Singapore’s analysis of caveats data from URA Realis data, the value of transactions rose 41.1 percent from $ 4.3 billion to $ 6.1 billion.

The preliminary figure for the period have also surpassed the result for the full-year 2016 at 1,187 units, sold at $ 5.1 billion.

The hike in transaction comes as landed residential properties registered a bigger price drop compared to non-landed private homes over 15 quarters before prices increased in Q3, said Savills Singapore research head, Alan Cheong.

He noted that the narrowed price difference between the two categories improved the attractiveness of landed homes.

Notably, URA’s price index for landed homes fell 16 percent between Q4 2013 and Q2 2017, while its non-landed private home price index contracted by only 10.2 percent.

“To some extent, buyers seem to have returned to the market with a vengeance, with sentiment buoyed by all the positive news about overall sales volume, record land prices, the influx of en bloc millionaires seeking replacement homes and improvements in the economy,” said Knight Frank Singapore executive director of residential sales and leasing Tay Kah Poh.

Cheong believes demand for landed properties in Singapore is “partly aspirational” as owning a landed home is still ranked high within the hierarchy of housing wants of Singaporeans.

Moreover, the overextended downturn in the property cycle has “unbottled pent-up demand for those wanting to buy a landed home”, he said.

 

This article was edited by Keshia Faculin.

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