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

Ryan Donoghue, October 7, 2019

SINGAPORE – Piermont Grand exec residence (EC) – the first and also probably simply EC launch this year – marketed 375 devices of an overall 820 homes at a normal price of $1,080 per square feet (psf) over the launch weekend.

Nominated website: Piermont Grand floor plan

The 46 per cent sales obtained as of 6pm on Sunday (July 28) “makes Piermont Grand by far the chart-topping property launch in 2019”, stated designer Area Dope Limited (CDL) in a media release.

Eligible second-time shoppers accounted for regarding 65 per-cent of the units marketed, mentioned CDL. Under EC regulations, just 30 per cent of the project could be allocated to second-time purchasers throughout launch. Those in this particular group not able to buy in the course of the preliminary launch duration can possibly do therefore for staying devices one month after the public launch.

CDL stated credit was offered for this EC. Qualified shoppers may likewise look for CPF casing grants of around $30,000.

The 99-year leasehold advancement overlooks My Waterway @ Punggol, Singapore’s lengthiest synthetic waterway crossing via Punggol New Community, as well as is a three-minute walk to Sumang and also Nibong LRT terminals, which are hooked up to Punggol MRT station and also bus variation.

Piermont Grand supplies 3-, four- and five-bedroom units. Home sizes are from 840 square feets (square foot) for a three-bedder to 1,701 square feet for a five-bedroom fee aerie.

The devices were actually sold at an average of $1,080 psf, along with rates starting from $888,000 for a three-bedroom, $1.34 thousand for a four-bedroom fee and also $1.508 thousand for a five-bedroom fee. CDL mentioned take-up was good for all unit kinds.

Savills Singapore study head Alan Cheong mentioned this was the first time normal rates for an EC crossed over $1,000 psf: “Fantastic purchases provided the report costs and moribund economic condition.”

Said CDL basic supervisor Chia Ngiang Hong: “Our team are quite thrilled along with the strong take-up for Piermont Grand, which demonstrates its own exceptional qualities. Found ideal alongside 2 LRT terminals and near Punggol MRT station, Piermont Grand is actually a brand-new EC that is certainly hard to come through. Customers are likewise drawn in to the project as it is actually a site waterfront residence providing scenic views as well as lavish conveniences.

” We have actually increased the EC offering along with effectively curated locations as well as superior installations and also appearances that are comparable to personal condominiums. Furthermore, there is actually ability for substantial benefit given the advancement’s proximity to the upcoming Punggol Digital Area.”

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

. They made the leading proposal of $509.37 thousand or even a record to S$ 583 psf every lot proportion for the federal government land sales web site at Sumang Stroll in February in 2013, the only EC lot delivered in 2018. The breakeven price for units at the development was actually determined at around $1,000 psf.

The development is marketed through ERA, Huttons, OrangeTee & Association and also PropNex.

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