Singapore Property News This Week #153

Residential

100 of 131 units in The Sorrento sold

100 of the 131 units have been sold in The Sorrento – a five-storey freehold condominium on West Coast Road which offers one-to three-bedroom units from 441 to 1,808 sq ft and is expected to be granted the temporary occupation permit (TOP) in 1Q2015. The rapid sales were the result of attractive prices ($1,380 to $1,600 psf) and the sense of exclusivity offered through the condo’s small scale and freehold status. Other developments such as Icon@Pasir Panjang, Seasuites, Village@Pasir Panjang and Whitehaven have also achieved transacted prices of $1,600-1,700 psf.

(Source: Business Times)

11,000 Singaporean families purchased exec condos from 4Q2010 to 4Q2013

According to Minister for National Development Khaw Boon Wan, 11,000 Singaporean households purchased executive condominiums (EC) from Q4 2010 to Q4 2013. Approximately 86 percent of the buyers are HDB residents and 55 percent are second-timer families. Due …