Property Week: Buyers find peace at Sanctuary 813

Of recent property launches, Holland Grove and Sanctuary at 813 have received good response from the public since the launch.

Holland Grove is a clustered semi detached apartment along Holland Road and Sanctuary at 813 is a condominium situated at Serangoon and is a 23-unit apartment. Both apartments do not differ much in terms of the price per square foot but Holland Grove is pricier because it is bigger.

CEO of ECG Property, Mr Eric Cheng said, "Although both properties have good response at the launch, the Sanctuary at 813 may have a better response because its price is not as steep as the Holland Grove apartments."

An average Holland Grove unit costs six million whereas a unit at the Sanctuary at 813 costs about a million each.

He feels market sentiment is picking up but advised potential investors to buy within your means because an investment is long-term and not suitable for those looking to earn some quick bucks. If one is keen, he advised "buying a unit in a place you are comfortable with and have holding power for the unit for at least 12 months before purchasing any property."

Another two apartments that received good response were The Estuary at Yishun and Sentosa Cove Seascape on Sentosa Island.

Mr Roy Chang, Senior Group Associate Director of Orange Tee said response of The Estuary was exceedingly positive but emphasized the sale of the Sentosa Seascape units was well within expectations.

The Estuary unit costs $750 to $800 per square foot whereas the Sentosa Cove Seascape costs $2800-$3000 per square foot.

His prediction for the market landscape in the later half of the year to have prices constantly climbing and for investors, it will be advisable to buy houses for rental purposes. As for potential sellers, he recommends buying a cheaper unit as a form of downgrading.