The Garden Residences SOLD 60 Units in First Go
The Garden Residences located at Serangoon opened to sales last weekend at the same time as Oxley led consortium’s Affinity opened sales for 300 units in Phase I of its project located nearby.
As per the official spokesperson representing Gardens Development the opening was positive for the developers and they were able to sell 60 units over the weekend with average psf of S$1,660 which is relatively higher than Affinity nearby.
The spokesperson also added that they are confident about selling more units in the coming days as buyers would benefit from a convenient location, finishes and fittings and also attractive design which would let buyers upgrade their lifestyle.
The official however declined to reveal details about the number of units that were launched in this phase and also details about the configurations that were bought during the sale.
The Garden Residences is collaboration between two developers Keppel Land and Wing Tai and has come on a GLS (government land sales) site.
Keppel Land is one of leading realty companies in Asia and the name behind many award-winning projects. Wing Tai Asia on the other hand is a Hong Kong based property developer that has developed a strong portfolio over the years.
The Garden Residences includes 613 units and is slated for completion in 2021.
The development comprises of units between one and five bedrooms that range between 452 sq ft and 1,981 sq ft in their floor area.
There are five 15-storied towers in the development. It is located close to the Serangoon MRT and the Kovan MRT stations and will offer its residents sophisticated living using smart technology allowing them to manage their door locks, water heaters and air conditioners with smartphone apps.
Its locational proximity to Serangoon Gardens and Serangoon Gardens Country Club would serve as an incentive for buyers.
Commenting on the higher psf price of The Garden Residences compared to Affinity Executive Director at ZACD Group, Nicholas Mak said that the developers have a proven track record and have been in the business longer than Affinity’s developers Oxley and hence believe they can sell their units at higher prices.
He added that while it would seem a direct competition for both the developers The Garden Residences would carefully avoid the price war.
Both the developers would be looking to finish off their inventory as new properties are coming up nearby and they wouldn’t like to sit over unsold inventories.