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Piermont Grand EC markets 375 of its 820 devices over launch weekend break

Michael I. Hunt, October 7, 2019

SINGAPORE – Piermont Grand exec condo (EC) – the first and also probably just EC launch this year – sold 375 units of an overall 820 houses at an average rate of $1,080 every square foot (psf) over the launch weekend.

Commend: Piermont Grand showflat

The 46 percent sales attained as of 6pm on Sunday (July 28) “makes Piermont Grand by far the best-selling residential or commercial property launch in 2019”, claimed programmer Area Dope Limited (CDL) in a media release.

Entitled second-time shoppers accounted for about 65 per-cent of the devices sold, said CDL. Under EC rules, merely 30 per cent of the task could be designated to second-time purchasers during launch. Those in this group not able to acquire throughout the first launch time frame can do therefore for continuing to be units one month after everyone launch.

CDL stated deferred payment was actually offered for this EC. Qualified purchasers can additionally request CPF property gives of as much as $30,000.

The 99-year leasehold advancement disregards My Waterway @ Punggol, Singapore’s lengthiest synthetic river crossing by means of Punggol New Community, as well as is a three-minute walk to Sumang and Nibong LRT terminals, which are actually attached to Punggol MRT station and bus interchange.

Piermont Grand provides 3-, 4- as well as five-bedroom systems. Apartment or condo dimensions are actually from 840 straight feet (square foot) for a three-bedder to 1,701 square feet for a five-bedroom superior lean-to.

The units were actually cost an average of $1,080 psf, with costs starting from $888,000 for a three-bedroom, $1.34 thousand for a four-bedroom superior as well as $1.508 thousand for a five-bedroom premium. CDL claimed take-up was good for all unit styles.

Savills Singapore research study head Alan Cheong claimed this was the very first time typical rates for an EC changeover $1,000 psf: “Superb purchases given the report prices and moribund economic climate.”

Said CDL general manager Chia Ngiang Hong: “We are actually incredibly delighted along with the strong take-up for Piermont Grand, which mirrors its phenomenal features. Located best next to pair of LRT stations and also near Punggol MRT terminal, Piermont Grand is actually a new EC that is definitely challenging to find through. Buyers are also attracted to the venture as it is a landmark waterfront house offering panoramas and elegant conveniences.

” We have increased the EC offering along with well curated facilities as well as costs installations and also appearances that approach exclusive condominiums. In addition, there is ability for substantial advantage offered the growth’s proximity to the upcoming Punggol Digital Area.”

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

. They brought in the best bid of $509.37 thousand or even a document to S$ 583 psf per lot ratio for the federal government property sales internet site at Sumang Stroll in February in 2013, the only EC area provided in 2018. The breakeven cost for units at the progression was estimated at around $1,000 psf.

The advancement is actually marketed by ERA, Huttons, OrangeTee & Connection as well as PropNex.

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