Latest Market News

Healthy demand for Canberra Residences units

Friday 10 February 2011

SINGAPORE : The preview for Canberra Residences, located along Canberra Drive in the northern part of Singapore, has met with healthy demand.

Marketing agent CB Richard Ellis (CBRE) said 80 per cent, or 160 out of 200 units released were sold during the preview.

Developer MCC Land (Singapore) will launch public sales for the residential units this Saturday, February 12.

CBRE and ERA have been appointed the joint marketing agencies.

The 99-year leasehold project comprises 320 units distributed among 13 blocks of five-storey apartments, with quality finishes and appliances, an attic, basement car park, swimming pool and communal facilities.

Canberra Residences is situated near Sembawang MRT Station and will be easily accessible to the future North-South Expressway, said CBRE. Shopping malls such as the new Sembawang Shopping Centre and Sun Plaza are a stone's throw away, it added.

The project offers one-bedroom, two-bedroom, two bedroom plus study units, three-bedroom plus one studio layout and the increasingly popular larger four-bedroom units. The average price of typical units ranges from S$830 to S$860 per square foot, with sizes varying between 614 and 2,250 square feet.

Joseph Tan, executive director, Residential, CB Richard Ellis, said: "Canberra Residences is a choice investment for the genuine first time home buyer and upgrader. "The developer has taken great care to meet the needs of both first time home owners as well as extended families with its variety of apartment configurations. Its affordability will be another strong pull factor when public sales begin."

Developer MCC Land said the healthy sales volume at the preview is a clear indication that there is a ready pool of buyers for projects such as Canberra Residences. PY Wong, executive director, MCC Land, added: "Its proximity to a wide range of educational institutions, transport nodes and parks makes Canberra Residences a very viable investment for long-term investors."

Source: channelnewsasia