Bukit Sembawang Liv @ MB sells over 75% of units on launch weekend
Bukit Sembawang Liv @ MB sells over 75% of units on launch weekend. BUKIT Sembawang Estates’ condominium project Liv @ MB in Mountbatten has sold more than 75% of its 298 units at an average selling price of S$2,387 per square foot (psf), according to a press release.
Bukit Sembawang said on Sunday that more than 90% of buyers were Singaporeans who lived nearby (May 22).
Liv @ MB, located on Arthur Road, is a 99-year leasehold project with units spread across four blocks. It is a 3-minute walk from the future Katong Park MRT station and sits on 140,000 square feet of land, with 80 percent dedicated to recreational facilities and lush landscaping.
Prices ranged from S$1.08 million for a 1-bedroom unit to S$3.63 million for a 4-bedroom deluxe unit when the project went on sale on May 6.
Prices previously indicated ranged from S$2,190 per square foot for 1-bedroom units (from 495 sq ft), S$2,292 per square foot for 2-bedroom units (from 624 sq ft), S$2,288 per square foot for 2-bedroom deluxe (from 753 sq ft), and S$2,080 per square foot for 3-bedroom units (from 1,119 sq ft).
Prices for the 4-bedders start on the 12th floor and range from S$2,233 psf (from 1,518 sq ft) to S$2,177 psf for the deluxe version (from 1,668 sq ft).
“Another major project launch in 2022 has achieved more than 70% sales on launch day,” said Huttons Asia CEO Mark Yip. This is truly remarkable in light of December 2021 cooling measures, rising interest rates, rising inflation, and global uncertainties.”
Yip added that the attractive entry price of S$2,080 psf sweetens the deal even more for buyers. “Regardless of government interventions in the housing segment, the market believes that today’s pricing is acceptable, despite the fact that construction costs have risen significantly,” he added.
Piccadilly Grand, the first major private residential development to hit the market following the implementation of cooling measures, sold 77 percent of its units during its first weekend on the market earlier this month. The average selling price per square foot for City Developments Limited and MCL Land’s joint residential project was S$2,150.
“We anticipate that the positive sentiments from Piccadilly Grand and [email protected] will spread to other project launches in the coming months,” said Lee Sze Teck, senior director of research at Huttons.
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