Phase 2 of New Futura Condo opened to a good response as developers sold 70% units that were opened for preview on May 11
The Ultra-Luxury condo, New Futura which located on Leonie Hill sold North Tower’s 21 out of the 30 units last weekend and was able to earn an average of S$3,500 psf according to City Developments Limited. The North Tower comprises of 60 units.
CDL further stated that majority of the units that were released in the second phase were picked up by foreigners and permanent residents and these units were the larger apartments at the North Tower with the highest selling price nearing the S$10 million mark.
The realty major had witnessed what it termed as ‘robust demand’ for its South Tower when it was soft-launched back in the month of January under Phase 1.
Of the 64 apartments in the South Tower, 62 units or 97% earned the developers more than S$3,350 psf in terms of ASP (average selling price).
This included a penthouse that was sold S$4,630 psf and help the developers pocket S$36.28 million for the 7,836 sq ft luxurious unit.
In that sale permanent residents and foreigners made up for 72% of buyers.
They mostly included Asians from countries such as South Korea, China, Indonesia and Malaysia. The penthouse on the North Tower which is of the similar size as the one of South is still up for grabs.
The 87,034 sq ft New Futura development is a freehold site that has 124 apartment units in total and located in the posh District 9 on Leonie Hill Road.
Skidmore, Owings & Merrill LLP the well-known designers have designed the development.
It includes 28 two-bedded units that range between 1,098 and 1,367, 54 three-bedroom units 1,830 sq ft in size. There are also 20 spacious four-bedroom properties 2,250 sq ft and 20 high ceilings in dining area that make for 2,691 sq ft apart from two ultra-spacious five bedroom penthouses.
All the apartment units in New Futura shall have private lift access while the 13-metre private pool would serve as an icing on the cake for the penthouse with its own deck and sauna.
This new condo launch property will also have a two-level carpark at the bottom that will comprise of 250 luxury and also ultra-luxury parking spaces for accommodating large super cars that owners are likely to park.
Group General Manager at CDL, Chia Ngiang Hong is optimistic about the property market in Singapore and said that it has already shown great signs of recovery with the prices trending up and has created a demand for luxury projects that have started experiencing strong sale proposition.
He added that in the recent months many foreigners are investing in the city thanks to its inherent advantages and this is fuelling additional demand.