Piermont Grand EC Sells 375 Of Its Own 820 Units Over Launch Weekend

SINGAPORE – Piermont Grand executive condominium (EC) – the first and also likely merely EC launch this year – offered 375 devices of a total 820 condos at a normal price of $1,080 every sq ft (psf) over the launch weekend.

Nominated website: Piermont Grand showflat

The 46 per cent sales achieved as of 6pm on Sunday (July 28) “creates Piermont Grand easily the best-selling property launch in 2019”, claimed designer Metropolitan area Dope Limited (CDL) in a media release.

Eligible second-time shoppers accounted for concerning 65 per-cent of the systems marketed, stated CDL. Under EC guidelines, merely 30 percent of the project could be allocated to second-time buyers throughout launch. Those within this team unable to get during the initial launch period may do therefore for staying systems one month after the public launch.

CDL stated deferred payment was given for this EC. Qualified customers can likewise apply for CPF real estate gives of as much as $30,000.

The 99-year leasehold growth disregards My Waterway @ Punggol, Singapore’s lengthiest fabricated river intercrossing through Punggol New Community, and also is a three-minute stroll to Sumang and also Nibong LRT stations, which are hooked up to Punggol MRT station as well as bus interchange.

Piermont Grand provides three-, four- and also five-bedroom units. Condo measurements are actually from 840 square feets (sq ft) for a three-bedder to 1,701 square feet for a five-bedroom costs penthouse.

The devices were actually cost an average of $1,080 psf, with rates beginning with $888,000 for a three-bedroom, $1.34 million for a four-bedroom premium as well as $1.508 thousand for a five-bedroom superior. CDL stated take-up was good for all device types.

Savills Singapore investigation head Alan Cheong said this was actually the first time average prices for an EC transition $1,000 psf: “Wonderful purchases given the record costs and moribund economy.”

Said CDL general supervisor Chia Ngiang Hong: “Our experts are actually very satisfied along with the sturdy take-up for Piermont Grand, which mirrors its outstanding features. Located correct next to pair of LRT terminals as well as near Punggol MRT station, Piermont Grand is actually a new EC that is actually undoubtedly hard to find by. Shoppers are additionally drawn in to the project as it is actually a landmark waterside residence supplying panoramas and also extravagant conveniences.

” Our team have raised the EC offering with properly curated centers as well as costs fittings as well as appearances that approach exclusive condos. Additionally, there is potential for considerable upside given the development’s distance to the upcoming Punggol Digital Area.”

CDL is actually creating the Punggol EC along with TID Pte Ltd, which a a joint project in between Hong Leong Holdings as well as Mitsui Fudosan Co

. They made the leading offer of $509.37 thousand or even a record to S$ 583 psf per piece proportion for the government land sales web site at Sumang Walk in February last year, the only EC area offered in 2018. The breakeven cost for units at the development was actually determined at around $1,000 psf.

The development is industried by AGE, Huttons, OrangeTee & Tie as well as PropNex.