The showflat in Clementi drew a large crowd of prospective buyers last weekend. (Photo: UOL Group)
The Clement Canopy, a 505-unit condominium at Clementi Avenue 1, drew large crowds at the start of its preview last weekend. More than 5,000 people crammed into its showflat over two days to view the two- to four-bedroom apartments.
Spread across two 40-storey blocks, the units range from 635 sq ft to 1,539 sq ft, with prices starting from $850,000 for the smallest units. The average price of the project is in the range of $1,330 psf to $1,360 psf.
Jointly developed by UOL Group and SingLand, the 99-year leasehold project is the first condo to launch in 2017. It is located close to NUS High School of Mathematics and Science and Nan Hua High School.
Anthony Wong, General Manager of Marketing at UOL, said: “We see a very strong interest for The Clement Canopy, as there has not been any launch within the vicinity for some time. I believe the price is the key to the excitement that we see amongst the crowd.
“Moreover, buyers recognise the value of the project, given the attractive pricing and location, which is near one-north and the education hub. Riding on the improved market sentiment, buyers who have been staying on the sidelines are now actively seeking out affordable properties with good location and design.”
In line with Singapore’s vision to become a Smart Nation, UOL has joined a long list of developers to incorporate smart home technology in its latest project. For instance, future residents of The Clement Canopy will be able to book common facilities such as the tennis court and clubhouse through a mobile app. Using the same app, homeowners can also remotely control door access, air-conditioning and lighting in their units.
Meanwhile, the preview period for The Clement Canopy will stretch for another weekend, while balloting starts on 25 February.
Giving an update on sales figures at its previous launches, UOL said it has seen an increase in transactions since the start of the year.
Thomson Three and Seventy Saint Patrick’s in Marine Parade are now fully sold, while Botanique at Bartley, a 797-unit condominium, is left with just nine units. Over in Sengkang, the 555-unit Riverbank @ Fernvale project, which comes with bike-sharing facilities, is left with 18 units, while Principal Garden at Prince Charles Crescent has sold more than half of its units.
This improved sentiment in the housing market carries on from a good year-end take up of 7,972 private units in 2016, up 7.2 percent from the year before, noted analysts.