Piermont Grand EC Markets 375 Of Its 820 Units Over Launch Weekend

SINGAPORE – Piermont Grand executive residence (EC) – the 1st and probably simply EC launch this year – marketed 375 systems of a complete 820 apartment or condos at an ordinary rate of $1,080 per sq ft (psf) over the launch weekend.

Mentioned: Piermont Grand location

The 46 per cent purchases achieved as of 6pm on Sunday (July 28) “makes Piermont Grand easily the very successful residential or commercial property launch in 2019”, said designer Urban area Advancement Limited (CDL) in a media release.

Entitled second-time purchasers accounted for concerning 65 per cent of the units offered, pointed out CDL. Under EC rules, only 30 percent of the project may be alloted to second-time buyers throughout launch. Those within this group unable to purchase during the first launch time period may do thus for staying systems one month after the general public launch.

CDL mentioned credit was actually provided for this EC. Eligible customers may additionally secure CPF housing gives of as much as $30,000.

The 99-year leasehold advancement disregards My Waterway @ Punggol, Singapore’s lengthiest man-made river crossing through Punggol New Town, and also is a three-minute stroll to Sumang as well as Nibong LRT stations, which are actually connected to Punggol MRT station and bus variation.

Piermont Grand offers three-, 4- and five-bedroom devices. Apartment dimensions are from 840 straight feet (sq ft) for a three-bedder to 1,701 square foot for a five-bedroom superior aerie.

The units were actually sold at around $1,080 psf, with prices starting from $888,000 for a three-bedroom, $1.34 million for a four-bedroom fee and also $1.508 million for a five-bedroom superior. CDL said take-up benefited all unit types.

Savills Singapore research scalp Alan Cheong claimed this was the first time typical prices for an EC transition $1,000 psf: “Great sales given the document costs and also moribund economic condition.”

Said CDL overall supervisor Chia Ngiang Hong: “Our team are quite delighted along with the strong take-up for Piermont Grand, which mirrors its own awesome attributes. Situated ideal close to 2 LRT stations and near Punggol MRT station, Piermont Grand is actually a brand new EC that is certainly tough to follow through. Shoppers are likewise brought in to the job as it is actually a spots beachfront property supplying panoramas as well as extravagant conveniences.

” Our team have elevated the EC offering along with properly curated resources and also superior fittings and coatings that are comparable to exclusive apartments. Moreover, there is actually ability for considerable advantage offered the advancement’s closeness to the upcoming Punggol Digital District.”

CDL is creating the Punggol EC along with TID Pte Ltd, which a a shared venture between Hong Leong Holdings and Mitsui Fudosan Co

. They brought in the best bid of $509.37 thousand or even a record to S$ 583 psf per plot ratio for the government land purchases site at Sumang Stroll in February in 2013, the only EC lot delivered in 2018. The breakeven rate for units at the progression was predicted at around $1,000 psf.

The advancement is industried by AGE, Huttons, OrangeTee & Connection and also PropNex.