Launch of two freehold condos
New freehold condominiums at Jalan Eunos and Mount Sophia hit the market
By: Amanda Tan
TWO freehold condominiums are being launched today amid a lull in the market, which are expected to give a gauge of the buying interest.
Both - one in suburban Eunos and another in central Mount Sophia - are relatively small projects, with fewer than 200 units in total between them.
The Tong Eng Group's Tropika East, a freehold project off Jalan Eunos, was privately previewed yesterday and will be open to the public today.
Already, at least 30 units have been snapped up.
The showflat at 1 and 3 Foo Kim Lin Road will be open to the public from 11 am today.
A three-bedroom unit of between 1,033 sq ft and 1,109 sq ft will cost from $1,150 per sq ft (psf) to $1,275 psf. Two-bedders ranging in size from 710 sq ft to 840 sq ft will cost between $1,250 psf and $1,350 psf.
One-bedders of from 441 sq ft to 527 sq ft will start from $1,350 psf, up to $1,450 psf.
Penthouses, measuring from 840 sq ft to 1,819 sq ft, are on sale for $1,000 psf on average.
The 105-unit condo will be split into three blocks of five floors each. It will be ready by June 2016. It is near to the upcoming 748-unit euHabitat.
Tropika East will be about 600m away from the upcoming Kaki Bukit MRT station, expected to be ready in 2015.
Maha Bodhi School is within 1km of the condo.
Aurum Land is launching its upscale development 1919 on Mount Sophia. Aurum Land is a subsidiary of Woh Hup.
The condo, expected to be completed by 2015, will consist of 75 black-and-white apartments.
Average prices range from $2,000 psf to $2,200 psf, while patio units - on the ground floor with a bigger balcony - start from $1,600 psf. Unit sizes range from 560 sq ft to 1,302 sq ft.
The showflat at 118 Sophia Road will be open to the public from 10am.
Property consultant Colin Tan said there is still demand for homes despite the euro zone crisis. The research head at Chesterton Suntec International noted that Tropika East and 1919 are both freehold projects, which may attract buyers.
Pointing to Tropika East, he said that frequent traffic jams in the area may be a turn-off, but given that it is the first launch in a while, it might benefit from pent-up demand.
As for 1919, he said: 'Woh Hup has a reputation for design and has won awards for it... so depending on how they do it up, they may try to justify the high psf price.'
Also, there have not been recent launches around the Mount Sophia area.
Knight Frank, the marketing agent for 1919, said in a statement that the project draws 'inspiration from the rich history of its surroundings to create a 21st century version of the celebrated black-and-white house'.
Dhoby Ghaut MRT Station is about a 10-minute walk from the condo.
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