The Continuum sells 26.5% of units at an average price of $2,732 psf

The Myst Bukit Panjang is also close to the upcoming integrated Hillview and Dairy Farm MRT. This will further strengthen the connectivity of the property and provide a boost for the property prices in the area.

The Continuum, a freehold condominium of 816 units, saw an impressive average price of $2,732 psf and an impressive conversion rate of 40% on the launch weekend of May 6-7, with 216 units (26.5%) sold. This strong showing is especially impactful considering the recent cooling measures and cloudy economic outlook.

Huttons Asia CEO Mark Yip and SRI managing partner Ken Low both offer valuable insights into the sales data for The Continuum, tying it to the sales activity of other district 15 projects. Collectively, developers Hoi Hup Realty and Sunway Property received 545 cheques during the two weeks of previews of The Continuum, signaling a promising start to their launch.

The smaller one-bedroom units, priced from $1.818 million, saw less than a handful of sales at launch. Ismail Gafoor, CEO of PropNex, explains this is because these attractive lower quantum prices make one-bedroom units appealing to investors who prefer 99-year leasehold condominiums.

Two-bedroom units, priced from $1.67 million, were the most popular, seeing 62% of the sales, while three-bedroom units from $2.306 million attracted $29% of the sales.

Singaporeans made up 90% of the buyers, and Tembusu Grand, a 99-year leasehold condo located off Tanjong Katong Road, sold 53% of its 638 units at an average price of $2,465 psf on its launch weekend in early April.

Huttons’ Yip notes that it’s been nearly two decades since a significant condominium on a freehold plot of over 200,000 sq ft has been available in the Katong area.

Marcus Chu, CEO of ERA Realty Network, notes that the advantage of a large-scale development like The Continuum is that it is likely to fetch higher prices in the secondary market compared to smaller developments.

The third project in the pipeline for District 15 is the 99-year leasehold Grand Dunman, which has 1,008 units and is scheduled for a roll-out sometime in 3Q223.The Continuum, an 816-unit freehold condominium off Haig Road and Tanjong Katong Road, saw impressive sales activity over the launch weekend of May 6-7. Prices average at an impressive $2,732 psf, and an impressive 40% conversion rate saw 216 units (26.5%) sold. According to Huttons Asia CEO Mark Yip, this is a particularly strong showing in light of recent cooling measures and the current economic climate.

The developer received 545 cheques as expressions of interest prior to the launch, and the project saw a high demand for the larger two and three-bedroom units. Two-bedroom units, priced from $1.67 million, accounted for 62% of the units sold, while three-bedroom units, priced from $2.306 million, accounted for 29% of the sales. The average price at Tembusu Grand, a 99-year leasehold condo off Tanjong Katong Road, was $2,465 psf.

Singaporeans made up 90% of the buyers, with Singapore Permanent Residents accounting for 10%. Ismail Gafoor, CEO of PropNex, explains that since the implementation of additional buyer’s stamp duty (ABSD), which doubled to 60% on April 27, foreign buyers have taken a backseat.

Marcus Chu, CEO of ERA Realty Network, notes that the advantage of a large-scale development like The Continuum is that it is likely to fetch higher prices in the secondary market compared to smaller developments. Furthermore, SRI’s Ken Low, states that with new launches in the pipeline for 2024 being relatively few, developers will be able to sell out their existing inventory gradually.

The next District 15 project scheduled for launch is Grand Dunman, a 99-year leasehold condo with 1,008 units, expected in 3Q223.