Kassia sells 52% of its units during launch

The most popular units were the one- and two-bedrooms.

Kassia sold 144 or 52% of 276 units during its launch on 21 July.

Its developer, Tripartite Developers, a joint venture comprising Hong Leong Holdings Limited, City Developments Limited, and TID Pte. Ltd. said the most popular units were the one- and two-bedrooms.

The selling price of the units ranged from $1,821 to $2,177 per square foot (psf). The apartments are priced from $883,000 for a one-bedder (473 sq ft), $1.196m for a two-bedder (656 sq ft), $1.659m for a three-bedder (904 sq ft), and $2.462m for a four-bedder (1,345 sq ft).

The buyers comprised mainly Singaporeans (90%), whilst permanent residents made up the remaining 10%.

Kassia is located at Upper Changi Road North District 17. It spans 150,838.98 sq ft with four blocks of eight storeys.

It is the 11th and last installment of Tripartite Development’s project, consisting of developments all named after flowers and arranged alphabetically. The project is estimated to obtain TOP in 2027.

“Kassia has a naturalistic living concept that features a majestic vertical garden and cascading water feature installed at its Grand Clubhouse. This is the second major project launch after the June break. Both projects sold more than 100 units, boosting confidence in the market. Buyers were drawn to the tranquil living environment, freehold tenure, and attractive entry prices.” Mark Yip, CEO of Huttons Asia said.

“It is likely that the attractive pricing has appealed to buyers, who see this as a good value proposition since Kassia is a freehold project. For comparison, the average transacted unit price of freehold new non-landed private homes in the Outside Central Region (OCR) so far in 2024 (till 14 July) was nearly $2,080 psf (limited number of transactions in 1H), while that of 99-year leasehold new OCR non-landed private homes (ex. EC) was at around $2,160 psf in the same period, based on caveats lodged,”  Ismail Gafoor, CEO of PropNex said.

“In addition, there are also limited freehold new launches in the OCR that are medium-sized projects. Therefore, Kassia presents a buying opportunity for those who are looking for a new freehold home, but are not keen on boutique developments, which tend to have fewer than 100 units in the project,” Gafoor added.