Residential property continues to enjoy robust sale

And two more projects will be marketed in the next two weeks.

DBS reports that a recent round of showflat visits showed that take up of new units continue to be relatively robust.

The report also showed that there was a segment of owner-occupation appetite for larger units. Ripple Bay comprises 679 units, of which 60% are 1-2 bedders and 26% are 3 bedders. Located adjacent to Far East’s Seastrand, this is the second new private residential development in the area with another, Watercolours, an EC project developed by GPS Alliance being pre-marketed currently.

Two new projects-Capitaland’s Sky Habitat and UOL’s Katong Regency - are expected to be marketed in two weeks. Pre-marketing for both has started and indicative interest is relatively decent.

Designed by Moshe Safdie and located just a short walk away from the Bishan MRT station and Junction 8, Sky Habitat comprises 509 units, of which 42% are 1 and 2 bedroom units of 635-1,453sf (incl PES) while 43% are 3 bedders from 1,216sf each. Official soft launch and opening of showflat is expected to be in the coming week and premarketing interest has been decent so far.

UOL’s Katong Regency, a mixed residential/retail development at the former Lion City Hotel site is expected to be soft launched in the next 2 weeks. The residential component comprises 244 units with 59% consisting of 1-bedroom units and 24% 2-bedders, ranging from 549-1,238sf. Given the convenience of the location 5 mins from MRT station and lack of supply of such products in the vicinity, we expect investment take up to be strong for this project.