Waterscape at Cavenagh | Property Market & Sales UpdateAccording to the MONEY section of the 4 March 2010 edition of the Singapore Straits Times, a CBRE Research report yesterday indicates that the luxury market is expected to make a strong rebound as the economy improves.
The current thriving property market appears to be driven by confident buyers keen to splash out on the back of the improving economy and a low interest rate environment. The government's anti-speculation measures last month have had little effect on genuine home buyers.
This seems borne out by sales so far this year. Take the case of the Waterscape at Cavenagh off Orchard Road, a prime condominium project developed by the Hiap Hoe Group.
When Hiap Hoe gave a preview of the Waterscape project in late November last year, it sold just 3 units at a median price of $1,909 psf. Following that, it sold another 5 units in December.
But in the first 2 months of this year alone, it has sold 88 units of the Waterscape, mostly in the weekends after Chinese New Year, at between SGD$1,715 to $2,020 psf, which works out to unit prices ranging from SGD$1.03 million to $3.15 million.
The Waterscape will be officially launched this weekend, with the remaining units opened for booking.
For details or to register with the Developer Sales Team for a presentation, please call (65) 92959180 or SMS "Waterscape" to 92959180.
