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Piermont Grand EC Sells 375 of Its 820 Systems Over Launch Weekend

Angus Claxton, October 7, 2019

SINGAPORE – Piermont Grand exec condo (EC) – the very first and most likely only EC launch this year – sold 375 devices of a total 820 condos at a typical cost of $1,080 every square foot (psf) over the launch weekend.

Endorse it: Piermont Grand price

The 46 percent purchases accomplished as of 6pm on Sunday (July 28) “makes Piermont Grand easily the chart-topping home launch in 2019”, stated creator City Developments Limited (CDL) in a news releases.

Entitled second-time customers accounted for regarding 65 per cent of the systems sold, stated CDL. Under EC regulations, merely 30 per-cent of the task can be allocated to second-time customers during launch. Those in this particular group not able to purchase during the first launch time frame may do therefore for remaining devices one month after the general public launch.

CDL said deferred payment was supplied for this EC. Eligible buyers may also request CPF housing gives of as much as $30,000.

The 99-year leasehold advancement disregards My Waterway @ Punggol, Singapore’s longest fabricated waterway intercrossing through Punggol New Town, and is a three-minute walk to Sumang and Nibong LRT terminals, which are actually hooked up to Punggol MRT terminal and also bus variation.

Piermont Grand provides three-, four- and five-bedroom devices. Flat measurements are coming from 840 straight feet (square feet) for a three-bedder to 1,701 square foot for a five-bedroom fee penthouse.

The devices were actually cost an average of $1,080 psf, along with rates starting from $888,000 for a three-bedroom, $1.34 thousand for a four-bedroom superior and also $1.508 million for a five-bedroom fee. CDL claimed take-up benefited all system kinds.

Savills Singapore investigation scalp Alan Cheong stated this was actually the first time typical costs for an EC crossed over $1,000 psf: “Fantastic sales given the document costs and also moribund economic situation.”

Said CDL basic manager Chia Ngiang Hong: “We are actually incredibly delighted with the solid take-up for Piermont Grand, which shows its own extraordinary characteristics. Found appropriate beside two LRT stations as well as near Punggol MRT station, Piermont Grand is actually a brand new EC that is without a doubt challenging to find by. Purchasers are also brought in to the project as it is a site waterside home providing scenic views as well as glamorous conveniences.

” Our experts have lifted the EC offering along with well curated centers and also fee installations and appearances that approach private apartments. Moreover, there is possibility for notable upside provided the growth’s closeness to the upcoming Punggol Digital District.”

CDL is actually developing the Punggol EC with TID Pte Ltd, which a a joint project between Hong Leong Holdings and Mitsui Fudosan Co

. They made the leading quote of $509.37 thousand or a report to S$ 583 psf per area proportion for the authorities land sales web site at Sumang Stroll in February in 2014, the only EC plot supplied in 2018. The breakeven rate for devices at the progression was determined at around $1,000 psf.

The development is industried through TIME, Huttons, OrangeTee & Association and also PropNex.

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