RiverTrees drawing strong buyer interest
RIVERTREES Residences, a waterfront condominium project in Sengkang, received close to 600 cheques from interested buyers prior to its official launch on Saturday, with interest coming from both owner-occupiers and investors.
Frasers Centrepoint said on Friday that a total of 585 cheques were received for apartments across different sizes. Close to 300 units will be launched in the initial phase for the 495-unit project that is jointly developed by Frasers Centrepoint, Far East Orchard and Sekisui House.
The average price for the initial phase is said to be in the range of $950-$1,150 per square foot (psf). Frasers Centrepoint had said that the units will be sold at a premium of $50-$100 psf to a next-door competing project by UOL Development.
Already, UOL has moved at least 210 units out of 250 units launched at Riverbank @ Fernvale, where sales began more than a week back at an average price of slightly above $1,000 psf. Both projects are nestled in the north-east region earmarked under the Draft Master Plan as a new centre for growth.
The RiverTrees Residences project comprises a mix of one- and two-bedroom suites, three- and four-bedroom units, "trio homes" that have dual-key and inter-generation designs, as well as "prive homes" that come with private lift lobbies.
Prices of the two-bedroom suites start from $618,000, according to Frasers Centrepoint.
There are also eight duplex three-bedroom strata-titled landed homes - called "cove houses" - selling for under $2 million, for which permanent residents need to obtain approval from the Land Dealings Unit under the Singapore Land Authority to qualify.
The Frasers Centrepoint-led consortium paid $533 psf for RiverTrees' 99-year leasehold site in June last year, a shade higher than UOL's $489 psf for the Riverbank site in April last year.