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Piermont Grand EC sells 375 of its 820 units over launch weekend

Anthony Lumholtz, October 7, 2019

SINGAPORE – Piermont Grand exec condo (EC) – the 1st and also most likely only EC launch this year – sold 375 devices of a complete 820 homes at an ordinary price of $1,080 every sq ft (psf) over the launch weekend break.

Nominated website: Piermont Grand floor plan

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

Entitled second-time buyers accounted for regarding 65 per-cent of the units sold, mentioned CDL. Under EC policies, only 30 per-cent of the venture can be allocated to second-time customers during launch. Those in this particular team not able to buy throughout the preliminary launch time period can do so for continuing to be units one month after the general public launch.

CDL stated credit was offered for this EC. Qualified shoppers can also look for CPF real estate grants of up to $30,000.

The 99-year leasehold progression disregards My Waterway @ Punggol, Singapore’s longest man-made waterway crossing via Punggol New Town, and also is actually a three-minute stroll to Sumang and also Nibong LRT terminals, which are actually attached to Punggol MRT terminal and bus variation.

Piermont Grand delivers three-, 4- as well as five-bedroom units. Apartment or condo dimensions are actually from 840 square feet (square feet) for a three-bedder to 1,701 square feet for a five-bedroom superior lean-to.

The systems were cost approximately $1,080 psf, along with costs starting from $888,000 for a three-bedroom, $1.34 million for a four-bedroom premium and also $1.508 million for a five-bedroom costs. CDL claimed take-up was good for all device kinds.

Savills Singapore investigation head Alan Cheong claimed this was actually the first time ordinary costs for an EC changeover $1,000 psf: “Great sales offered the report rates as well as moribund economic situation.”

Said CDL basic manager Chia Ngiang Hong: “Our team are incredibly happy along with the tough take-up for Piermont Grand, which mirrors its phenomenal features. Located appropriate beside two LRT terminals and near Punggol MRT terminal, Piermont Grand is actually a brand new EC that is actually indeed challenging to find through. Customers are actually likewise attracted to the venture as it is actually a spots beachfront residence offering scenic views and extravagant conveniences.

” Our team have actually lifted the EC offering with well curated facilities as well as costs installations and surfaces that are comparable to exclusive condos. Moreover, there is actually possibility for substantial upside offered the advancement’s distance to the upcoming Punggol Digital District.”

CDL is actually building the Punggol EC along with TID Pte Ltd, which a a shared project between Hong Leong Holdings and also Mitsui Fudosan Co

. They made the top proposal of $509.37 thousand or even a record to S$ 583 psf every area ratio for the federal government land purchases internet site at Sumang Stroll in February last year, the only EC plot used in 2018. The breakeven price for devices at the advancement was actually estimated at around $1,000 psf.

The development is actually industried by TIME, Huttons, OrangeTee & Tie and also PropNex.

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