Buyers balloting for units at Affinity at Serangoon. (Photo: Oxley Holdings)
Two new project launches in the Serangoon area (District 19) reported more than 170 units sold during Phase 1 sales over the weekend.
Affinity at Serangoon sold 112 of the 300 units released, while The Garden Residences moved more than 60 units. Both are 99-year leasehold projects located at Serangoon North Avenue 1.
Units at Affinity were sold at an average price of $1,575 psf, while those at The Garden Residences went for slightly higher at $1,660 psf on average.
Singaporeans accounted for 80 percent of the buyers at Affinity, while the remaining 20 percent were foreigners and permanent residents.
Developed by an Oxley-led consortium, Affinity comprises seven blocks of 1,012 one- to four-bedroom apartments from 463 sq ft to 1,453 sq ft and 40 strata landed houses.
There will also be five retail shops and 88 facilities including a floating boardwalk, firefly path and a luminescent plankton cove.
Nearby amenities include Chomp Chomp Food Centre, Serangoon Garden Market and Nex shopping mall. There are also several schools in the vicinity such as Rosyth School, Nanyang Junior College and the French School.
The sprawling 296,193 sq ft site was formerly the Serangoon Ville HUDC estate, which was sold en bloc for $499 million in July last year. The purchase price works out to a land rate of $835 psf per plot ratio.
“We saw strong demand from former Serangoon Ville residents who are keen to live in their familiar area, and now also have the purchasing power to upgrade for themselves and younger generations,” said Oxley executive chairman and CEO Ching Chiat Kwong.
Meanwhile, The Garden Residences is a 613-unit project comprising one- to five-bedroom apartments from 452 sq ft to 1,981 sq ft spread across five 15-storey towers. The extensively landscaped development is expected to be ready by 2021.
“We have confidence in the market, and believe that discerning buyers will appreciate the convenient location, attractive design, quality fittings and finishes as well as the lifestyle offerings at The Garden Residences,” said a spokesperson from the developers Keppel Land and Wing Tai Asia.
Located near the Kovan and Serangoon MRT stations, the smart-enabled project will feature technology from mobile app developer Habitap – enabling residents to control the air conditioners, door locks and water heater, as well as book condo facilities.