Piermont Grand EC markets 375 of its own 820 units over launch weekend break

SINGAPORE – Piermont Grand executive residence (EC) – the 1st and also likely only EC launch this year – sold 375 units of a total 820 apartment or condos at a typical rate of $1,080 per square foot (psf) over the launch weekend.

Nominated website: Piermont Grand showflat

The 46 percent sales achieved since 6pm on Sunday (July 28) “makes Piermont Grand without a doubt the best-selling property launch in 2019”, stated creator Urban area Developments Limited (CDL) in a media release.

Entitled second-time customers made up concerning 65 per-cent of the systems sold, said CDL. Under EC regulations, simply 30 percent of the project can be alloted to second-time purchasers during launch. Those in this particular team unable to get during the first launch period can possibly do so for continuing to be systems one month after the general public launch.

CDL said deferred payment was given for this EC. Entitled buyers may additionally secure CPF housing gives of around $30,000.

The 99-year leasehold development overlooks My Waterway @ Punggol, Singapore’s lengthiest fabricated waterway intercrossing through Punggol New Community, as well as is actually a three-minute walk to Sumang and also Nibong LRT terminals, which are hooked up to Punggol MRT station and bus variation.

Piermont Grand gives three-, 4- and also five-bedroom units. Home dimensions are coming from 840 straight feet (square foot) for a three-bedder to 1,701 square feet for a five-bedroom fee aerie.

The units were actually cost approximately $1,080 psf, with prices starting from $888,000 for a three-bedroom, $1.34 thousand for a four-bedroom costs and $1.508 thousand for a five-bedroom fee. CDL said take-up was good for all unit kinds.

Savills Singapore research study scalp Alan Cheong mentioned this was actually the very first time typical costs for an EC changeover $1,000 psf: “Great purchases given the document costs as well as moribund economic situation.”

Said CDL general supervisor Chia Ngiang Hong: “Our team are very satisfied with the tough take-up for Piermont Grand, which demonstrates its awesome characteristics. Situated ideal next to 2 LRT terminals as well as near Punggol MRT terminal, Piermont Grand is a new EC that is actually certainly difficult to find through. Shoppers are actually additionally brought in to the job as it is actually a site waterfront house providing scenic views as well as lavish conveniences.

” Our company have increased the EC offering along with properly curated centers and fee installations as well as surfaces that approach personal apartments. Furthermore, there is actually possibility for notable advantage offered the growth’s proximity to the upcoming Punggol Digital Area.”

CDL is actually cultivating the Punggol EC with TID Pte Ltd, which a a joint endeavor between Hong Leong Holdings and Mitsui Fudosan Co

. They brought in the leading bid of $509.37 million or a record to S$ 583 psf every area ratio for the government land purchases site at Sumang Walk in February in 2015, the only EC piece offered in 2018. The breakeven rate for systems at the progression was actually determined at around $1,000 psf.

The progression is industried through PERIOD, Huttons, OrangeTee & Connection and PropNex.