Bukit Sembawang Liv @ MB sells over 75% of units on launch weekend

by Albert02

Bukit Sembawang Liv @ MB sells over 75% of units on launch weekend

Bukit Sembawang Liv @ MB sells over 75% of units on launch weekend. According to a press release, BUKIT Sembawang Estates’ condominium project Liv @ MB in Mountbatten has sold more than 75 percent of its 298 units at an average selling price of S$2,387 per square foot (psf).

According to Bukit Sembawang, more than 90% of buyers were Singaporeans who lived nearby (May 22).

Liv @ MB is a 99-year leasehold project on Arthur Road with units spread across four blocks. It sits on 140,000 square feet of land, with 80 percent dedicated to recreational facilities and lush landscaping, and is a 3-minute walk from the future Katong Park MRT station.

The project went on sale on May 6, with prices ranging from S$1.08 million for a 1-bedroom unit to S$3.63 million for a 4-bedroom deluxe unit.

Prices previously indicated ranged from S$2,190 psf for 1-bedroom units (from 495 sq ft), S$2,292 psf for 2-bedroom units (from 624 sq ft), S$2,288 psf for 2-bedroom deluxe (from 753 sq ft), and S$2,080 psf for 3-bedroom units (from 1,119 sq ft).

The 4-bedders begin on the 12th floor, with previously stated prices ranging from S$2,233 psf (from 1,518 sq ft) to S$2,177 psf for the deluxe version (from 1,668 sq ft).

“Another major project launch in 2022 achieved more than 70% sales on the first day,” Huttons Asia CEO Mark Yip said. Given the December 2021 cooling measures, rising interest rates, rising inflation, and global uncertainties, this is truly remarkable.”

Yip went on to say that the appealing entry price of S$2,080 psf sweetens the deal even more for buyers. “Regardless of government interventions in the housing segment, the market believes that today’s pricing is acceptable, despite significant increases in construction costs,” he added.

Piccadilly Grand, the first major private residential development to hit the market since cooling measures were implemented, sold 77% of its units during its first weekend on the market earlier this month. The average selling price for City Developments Limited and MCL Land’s joint residential project was S$2,150 per square foot.

“We anticipate the positive sentiments from Piccadilly Grand and [email protected] to spillover to other project launches in the months ahead,” said Lee Sze Teck, senior director of research at Huttons.

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Source: https://www.businesstimes.com.sg/real-estate/bukit-sembawangs-liv-mb-sells-over-75-of-units-on-launch-weekend

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