Sky Vue launches strongly with 85% units sold

Average selling price of S$1,500.

OCBC noted that pver the weekend, CapitaLand (CAPL) launched the 694-unit Sky Vue condominium project near the Bishan MRT station, and saw a strong sales performances with 430 units sold out of 505 units released for sale.

The average selling price of the units sold was ~S$1,500 psf – which was 5% to 10% lower than those at the adjacent 509-unit Sky Habitat project.

"We like that the group has taken a rational approach, in terms of pricing, to move units during the Sky Vue launch. The strong sales performance will significantly reduce the group’s unsold exposure in the locality from over a thousand units at Sky Habitat and Sky Vue to ~600 units currently," said OCBC.

"We continue to favor largecap developers with strong balance sheets and diversified exposure across regional real estate markets," it added.