Piermont Grand EC sells 375 of its own 820 devices over launch weekend

SINGAPORE – Piermont Grand executive condominium (EC) – the first as well as very likely only EC launch this year – sold 375 systems of an overall 820 homes at a normal cost of $1,080 every sq ft (psf) over the launch weekend.

Must watch: Piermont Grand floor plan

The 46 per-cent purchases achieved as of 6pm on Sunday (July 28) “creates Piermont Grand without a doubt the best-selling property launch in 2019”, mentioned designer City Developments Limited (CDL) in a media release.

Qualified second-time shoppers accounted for about 65 percent of the units sold, stated CDL. Under EC regulations, merely 30 percent of the venture may be designated to second-time shoppers throughout launch. Those in this group not able to purchase throughout the initial launch period can possibly do therefore for staying devices one month after everyone launch.

CDL pointed out deferred payment was given for this EC. Eligible purchasers may likewise make an application for CPF casing grants of up to $30,000.

The 99-year leasehold progression forgets My Waterway @ Punggol, Singapore’s lengthiest artificial waterway intercrossing by means of Punggol New Town, and is a three-minute walk to Sumang and Nibong LRT stations, which are actually linked to Punggol MRT station as well as bus interchange.

Piermont Grand uses three-, 4- and five-bedroom systems. Home dimensions are actually coming from 840 straight feets (square foot) for a three-bedder to 1,701 sq ft for a five-bedroom superior lean-to.

The units were cost around $1,080 psf, along with prices beginning with $888,000 for a three-bedroom, $1.34 million for a four-bedroom superior as well as $1.508 thousand for a five-bedroom superior. CDL mentioned take-up benefited all unit kinds.

Savills Singapore investigation scalp Alan Cheong mentioned this was actually the very first time typical rates for an EC crossed over $1,000 psf: “Wonderful sales offered the file rates and also moribund economic climate.”

Said CDL standard manager Chia Ngiang Hong: “We are quite happy with the sturdy take-up for Piermont Grand, which reflects its exceptional qualities. Found right next to pair of LRT terminals and also near Punggol MRT station, Piermont Grand is a new EC that is definitely challenging to come through. Buyers are additionally enticed to the job as it is a spots waterfront residence delivering panoramas and luxurious comforts.

” Our experts have elevated the EC offering along with well curated facilities as well as premium fittings as well as coatings that approach exclusive condos. Furthermore, there is possibility for considerable upside given the progression’s distance to the upcoming Punggol Digital Area.”

CDL is actually establishing the Punggol EC with TID Pte Ltd, which a a shared endeavor in between Hong Leong Holdings and also Mitsui Fudosan Co

. They made the top proposal of $509.37 thousand or a document to S$ 583 psf per area proportion for the authorities land sales web site at Sumang Stroll in February last year, the only EC plot provided in 2018. The breakeven rate for devices at the growth was estimated at around $1,000 psf.

The development is marketed through PERIOD, Huttons, OrangeTee & Connection and also PropNex.