Singapore Property Update

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27 percent of units at JadeScape sold on first day

Despite the latest round of cooling measures, more than 27 percent of the total units at the 99 year old leasehold project JadeScape, a new launch at Marymount/Thomson area were sold on the first day.

According to a report from the Edge Property, 332 units of JadeScape were sold at the close of balloting on the first day of launch yesterday at 7pm.

Photo by property agent

 

The 1206 condominium is one of the major launches of the year and is a redevelopment of the former Shunfu Ville by Chinese developer Qingjian Realty.

“The first day of sales at JadeScape is very encouraging, given that it comes in the shadow of the latest property cooling measures. It should bolster market confidence; and it’s a sign that not all is doom and gloom. There’s still underlying demand for well-designed and well-located properties.” says Nicholas Mak, executive director of ZACD Group.

The average price per square foot at JadeScape is $1,700, a record for the Bishan-Thomson area.

The last launch in the area was the 288-unit Thomson Impressions in 2015 which was sold at an average price of $1,427 psf.

 

 

Updated: September 23, 2018 — 10:20 am
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