The Chinese developer's head honcho has said, CSC LAND Group saw a "strong response" at the weekend launch of Twin Vew in West Coast Vale.
Buyers snapped up 442 of the condominium's 520 apartments - including four of its six penthouses - for a take-up rate of 85 per cent.
They coughed up an average sales price of S$1,399 per sq ft (psf) for the 99-year leasehold development, which is expected to be ready by the fourth quarter of 2021.
In late 2016, EL Development's Parc Riviera debuted at an average of S$1,150 psf, just down the road. CSC Land chairman Li Xiao Qian said in a media statement: "We are very encouraged by the strong response this weekend . . . From this weekend's sales figures alone, all unit types have been very well received, demonstrating the diversity offered by Twin Vew. We are confident that this momentum will continue."
Twin Vew is also the maiden residential project from CSC Land. Two 36-storey towers will house one- to four-bedders from 484 sq ft to 1,518 sq ft, as well as the penthouses. Indicative prices started at S$650,000 for a one-bedroom apartment.
Twin Vew's parent, construction juggernaut China Construction (South Pacific) Development, paid S$592 psf per plot ratio (ppr) for the site in a nine-way fight last year. Most of the home buyers at Twin Vew's launch were Singapore citizens and permanent residents, with nine units bagged by foreign nationals from China, Indonesia and Europe.
ERA property agent Jason Chen, who told The Business Times that he has sold two one-bedroom units, noted the project's proximity to both the Jurong Lake District and the planned Kuala Lumpur-Singapore high-speed rail's terminus. "One other selling point is that an adjacent land parcel was bought by City Developments Ltd (CDL) for about S$200 higher" on a unit basis, Mr Chen added.
In January, CDL paid S$800 psf ppr for a West Coast Vale site at a state tender. CSC Land was the runner-up in that auction.
Mr Chen said that the higher price tag for the recent parcel might have induced bargain hunters to snap up Twin Vew units while they could.
Twin Vew is the residental developement comprising 2 towers of 36-storey with 1 childcare centre, 2 shop units and 2 levels of basement carparks, recreational facilities on e-deck & sky terraces. Additionally, this development is developed by the reputable developer - CSC Land Group with many amenities around. To know more about this golden location, please take a look at Location and kindly contact us to become one of the first residents who own your dream home here.Adapted by The Business Times, May 7, 2018