The Alps Residences condo marked an auspicious first day of launch on Oct 2 with 45% of their available units sold on that day. The private condo project located in Tampines sold a total of 280 out of the available 626 units by balloting that Sunday, just several days after their equally successful preview on Sept 24.
More than 80% of the 280 units sold were the $1000 psf to $1,200 psf one- and two-bedroom units, with prices starting from $491,000 to $806,000 respectively. A spokesman for The Alps Residences credits efficient unit designs coupled with competitive pricing as the driving forces of the strong sales response. “There seems to be a pent up demand in Tampines as there hasn’t been a new condominium launched since The Santorini,” the spokesman added. The Santorini, a private condominium project with a total of 597 units and also located at Tampines Street 86, was launched in April 2014.
After the successful new launch of The Alps Residences, pressure has shifted now to the Forest Woods condo project, which previewed on the same weekend with over 2,000 visitors. Located on Lorong Lew Lian, and off the Upper Serangoon and Paya Lebar Road, Forest Woods will hold sales by balloting on October 9, also a Sunday.
Jointly developed by Hong Leong Holdings, TID Pte Ltd., and property giant City Developments Ltd (CDL), Forest Woods boasts of a convenient location. It is just five minutes away by foot from the Nex Shopping Mall, benefiting from integration with the Serangoon MRT station which runs on the North-East and Circle Lines.
Forest Woods units are also similarly positioned with competitive prices for their one- and two-bedroom units. The former starts at $688,000 while the latter units can be had from $838,000. One bedroom units range from 506 to 517 sq ft and the two-bedroom ones range from 603 to 904 sq ft. These units, including the two-bedroom-plus-study premium units, make up 52% of the total units available.
Meanwhile, the rest of the project is comprised of three-bedroom units (743 to 1,184 sq ft) and four-bedroom units (1,238 to 1,475 sq ft). Three-bedders are selling from $1.1 million, while the four-bedders have a starting price of $1.65 million.
Chia Ngiang Hong, group General Manager of CDL indicates receiving strong interest with the project, due to the absence of a similar sized project in the Serangoon Central area for a number of years already.
Jointly marketed by Huttons Asia, ERA Realty, and PropNex Realty, Forest Woods is expected to yield strong sales as well. Early indicators include word of mouth that over 400 cheques from interested buyers were collected.
Forest Woods prices are at $1,327 to $1,461 psf, or an average of around $1,400 psf. Desmond Sim, head of Research for CBRE Singapore and South East Asia explains, “It’s a quantum play, with one- and two-bedroom units priced below $ million, and three-bedroom units just above $1 million. “These two projects – The Alps Residences and Forest Woods – should add significantly to October’s new home sales.”