Singapore, Singapore Aug 12, 2023 (Issuewire.com) - Joint developers UOL Group and Singapore Land Group (SingLand) sold 150 units (29%) at the 520-unit Pinetree Hill condo on the launch weekend of July 15-16. The developer released 400 units for sale at an initial average price of $2,460 psf.
Based on the number of units released, the developer achieved 37.5% sales.About 99% of the buyers are Singaporeans and Singapore Permanent Residents, says Anson Lim, UOL's general manager (residential marketing)."The units transacted are quite well-spread," Lim adds. About 61% of the units sold are one-bedroom-plus-study and two-bedroom-plus-study, with 39% comprising the larger three- to five-bedroom units.
Pinetree Hill Condo location is attractive to both investors and owner-occupiers, especially families with children of school-going age, as it's within 1km of reputable schools such as Henry Park Primary School and Pei Tong Primary School; and 2km of Pei Hwa Presbyterian School and Methodist Girls' School, notes Yip.Families with children entering secondary and tertiary levels will appreciate Pinetree Hill's proximity to Nan Hua High School, NUS High School, Singapore Polytechnic and Ngee Ann Polytechnic, which are within 2km, while the National University of Singapore is 3km away.
Pinetree Hill's proximity to the CBD, Orchard Road, one-north, Jurong Lake District and Science Parks were also primary considerations for home buyers and investors.Having 29% of units sold on the launch weekend is a good start.
The developer will have room for further price growth, as there will be fewer new project launches in 2024 than we've seen this year. Pinetree Hill Condo buyers who have purchased units this weekend can piggyback on this capital appreciation until the project is sold out.
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