75% of Units at Sky [email protected] Sold Right After Launch Event

More than 70% of all Sky [email protected] condominiums got sold on the launch day itself with an average price per dquare feet of of $2,100. This mixed development at Bedok Town Center is the first residential project in the last 10 years; it has a total of 158 units out of which 118 units were sold recently on Wednesday. The developers in a recent interview revealed that all 2-bedroom units at this site were completed sold.

The acting COO (chief operating officer), Ms. Lorraine Shiow at Fraser Property recently said that this development is close to the mature estate and this is the main reason why it is drawing maximum attention from buyers. The home buyers at this location will be able to access several thriving economic hubs nearby this location; it includes Paya Lebar and Changi. These sites are expected to undergo a major renovation in the coming years; as a result, this Singapore East site will become more popular for buyers in the future.

This leasehold property which comprises of a 99 years lease is made up of 2 to 4-bedroom units with dimensions starting from a 657 sq ft all the way to 1302 sq ft. The development is also planned to have the construction of 12 shops on the ground floor. Note that the units at this site are being sold at a $1937 psf price which leads to a pricing of S$1.31 million for two bedroom unit. Lee Sze Teck, Senior Director of Huttons Asia recently said that most of the buyers at this site belong to Singapore.

The buyers found the Sky [email protected] site worth investment due to its close connectivity to MRT Station. Moreover, this site is located in close vicinity to several major employment centers and offers easy access to plenty of amenities. Families may find it more useful due to the easy connectivity to renowned schools such as Yu Neng Primary School, Red Swastika School, and Temasek Junior College.

Ismail Gafoor, PropNex Realty chief recently said that this project is the second major launch outside the central region and it has experienced impressive demands within very less time. The majority of investors at this site are in the age group of 30 to 40. He also added that the limited unsold stocks at this site may continue to support the rising demands of new home buyers.

Sky [email protected] is basically a redevelopment site that was earlier recognized for Bedok Point shopping mall which was established in the year 2010. The owners of Frasers Property purchased that site from Frasers Centrepoint Trust which is a real estate investment trust and the cost of this purchase was $108 million in the year 2020.

Several new launch condos at this site have been already sold. As this is the first private residential project in Ang Mo Kio; therefore, it is receiving great popularity among investors throughout the region. The easy access to amenities around ensure complete comfort to the residents at this site.

 

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https://www.straitstimes.com/business/property/sky-edenbedok-75-of-all-units-sold-on-first-day-of-launch

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