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.”
