Three condo launches this week will test residential market

EXCLUSIVE:  Developers are rushing to put their blocks on sale in a "goldilocks" window, but will it work?

The market seems more open to mid-priced property units which is prompting a spate of new launches to take advantage of relatively benign circumstances following the Japanese Tsunami.

On Monday, Goldhill Land Pte Ltd. launched its 13-storey freehold development “Harbour Suites” which is located at Kampong Bahru Road.

According to property specialist Jonathan Tan from CondoExpert.sg, "Harbour Suites", well served by public transport and accessible via ECP, AYE & CTE is the “most affordable and lowest quantum in the vicinity” at prices from $700K according to property specialist Jonathan Tan from CondoExpert.sg

“To invest a property in Prime Exclusive District 04 at such an Affordable Quantum can’t find in other developments around there,” he said.

Dylan Wong from primeproperty.sg concurred, noting that Harbour Suites is relatively the “cheapest” of its kind. Mr. Wong said that 13 out of its 44 units have already been sold since its launching.

The 30-storey modern high rise “Sky Suites 17” of El Development Pte Ltd., meanwhile is commencing today. It is situated in Balestier, just beside ZhongSan Park.

Ben Ang of Huttons Real Estate Group, who is marketing Sky Suites 17, said that around 40 out of 115 units were already sold owing to favorable market marked by low-interest rates environment.

According to Mr. Tan, Sky Suites 17 is a good investment because of “unbeatable potential for growth and appreciation” of the area which includes high expatriate’s tenancy, high rental demand and high potential for sale and rental.

The modern high rise tower is just about 12 mins walk to Novena MRT and Novena Shopping Mall; 8 mins walk to Toa Payoh MRT Station; 5 mins drive to Newton Food Centre; 6 mins drive to Orchard Shopping Belt; and 7 mins drive to Central Business District and Marina Integrated Resort.

The Sky Suites 17 also has close proximity to Singapore Medical Hub and Medical facilities as well as to various reputable schools in the vicinity.

“One of the Tallest development in the area and will be the Most Prominent Development of the Area,” Mr. Tan noted.

And on Thursday March 31 Sustained Land is expected to launch its 17-storey “38iSuites” at Ipoh Lane. Mr. Tan said that 38iSuites also offers high capital returns with the upcoming Paya Lebar Hub combined with the redevelopment of Lion City Hotel. 38iSuites is located in District 15 which been named as Home Buyer's Top Pick for 4 years running from 2007 to 2010 and thus reflects high demand, said Mr Tan.