Condo report card: Which projects posted stellar sales in March?

Developer sales jumped to its highest monthly takeup since June 2013.

With the recent figures showing how sales momentum picked up in March, it is but timely to take a peek at how earlier launched projects did in terms of sales.

To recall, residential sales jumped 82% month-on-month and 111% year-on-year to 1,780 units, the highest take up seen since June 2013. According to Colliers’ Flash report, this is due to brighter economic prospects, as shown in strong manufacturing and trade growth since 4Q16.

The biggest winner is Park Place Residence, which according to Colliers has sold all of its 217 launched units. The development sold the units at $1,579 to $2,184 psf. The residential project will comprise a mix of 429 one- to three-bedroom units, and is expected to be completed in the first half of 2019, after the retail and office components are completed in 2018.

"This is likely to be popular with investors as it is part of a major integrated project, which will feature a seven-storey retail mall and three office towers housing 10,000 workers which could provide rental catchment for the Residences," Colliers said.

The same story goes for Grandeur Park Residences. The 720-unit development near Tenah Merah MRT station has sold 484 units or 67% of total 720 units between $970 to $1,592 psf.

"We believe while it is in an area where there is abundant supply which recently achieved Temporary Occupation Permit (TOP) such as The Glades (726 units, 684 sold), and Eco (784 units, 734 sold), it has been priced relatively attractively," Colliers noted.

Parc Riviera, which only sold 128 units at its launch, have picked up steam this year, further selling 163 units in March at a median price of $1,246 psf. This has brought total take up to 61%.

The Santorini also saw sales momentum pick up, having sold 51 units in February and another 60 units in March at a median price of $1,031 psf.

Two executive condominium projects also reported healthy sales in March. With its internet-ready smart homes, iNz managed to attract interest, eventually selling 187 units in March at a median price of $774 psf.

On the other hand, Singapore's largest EC, Sol Acres, ended the past month with the highest monthly sales since its launch in August 2015. It has booked 147 units for purchase in March at a stable range of $770 to $800 psf.