Bukit Sembawang’s Liv @ MB sells over 75% of units on launch weekend

22 May 2022
Property News

Potential buyers at the preview of Bukit Sembawang Estates' Liv @ MB. The project sold more than 75 per cent of its 298 units on its launch weekend. 

BUKIT Sembawang Estates' condominium project Liv @ MB in the Mountbatten area has sold more than 75 per cent of its 298 units, at an average selling price of S$2,387 per square foot (psf), Bukit Sembawang said in a press statement.

Over 90 per cent of buyers were Singaporeans residing in the immediate neighbourhood, Bukit Sembawang said on Sunday (May 22).

Located on Arthur Road, Liv @ MB is a 99-year-leasehold project with units spread across 4 blocks. It sits on 140,000 sq ft of land – with 80 per cent dedicated to recreational facilities and lush landscaping – and is a 3-minute walk from the future Katong Park MRT.

The project opened for preview on May 6, with indicative prices ranging from S$1.08 million for a 1-bedroom unit to S$3.63 million for a 4-bedroom deluxe one.

Earlier indicated prices ranged from S$2,190 psf for 1-bedroom units (from 495 sq ft), S$2,292 psf for 2-bedroom units (from 624 sq ft) and S$2,288 psf for 2-bedroom deluxe (from 753 sq ft) to S$2,080 psf for 3-bedroom units (from 1,119 sq ft).

The 4-bedders start from the 12th floor, with earlier indicated pricing ranging from S$2,233 psf (from 1,518 sq ft) to S$2,177 psf for the deluxe version (from 1,668 sq ft).

Huttons Asia CEO Mark Yip said: “Another major project launch in 2022 has achieved more than 70 per cent sales on launch day. This is truly remarkable against the backdrop of cooling measures in December 2021, rising interest rates, rising inflation and global uncertainties.”

Yip noted that the attractive entry price from S$2,080 psf further sweetens the deal for buyers. “Regardless of government interventions in the housing segment, the market believes that today's pricing is acceptable as construction costs have risen considerably,” he added.

Piccadilly Grand, the first major private residential development to come on the market since cooling measures were introduced, sold 77 per cent of units during its launch weekend earlier this month. The joint residential project by City Developments Limited and MCL Land recorded an average selling price of S$2,150 psf.

Lee Sze Teck, senior director of research at Huttons, said: “We foresee the positive sentiments from Piccadilly Grand and LIV@MB to spillover to other project launches in the months ahead.”

Source: The Business Times
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