Cuscaden Reserve Offers One Price Promotion %E2%80%93 Flat 2850 Psf Selected Units
in initial launch
On July 5, the luxury condominium Cuscaden Reserve launched a new “one-price promotion” with units priced at $2,850 per square foot (psf). The promotion is for 16 two-bedroom-plus-study apartments located on the 5th to 13th floors of two stacks in the 28-storey tower.
Each unit, which offers 936 square feet of living space and a private lift, costs $2.67 million. This special promotion will end on July 14 and is limited to the first five units sold in these stacks. The developer has appointed PropNex, ERA, and Huttons Asia as the joint marketing agencies.
Since the promotion launched last Friday, four units have already been snapped up. PropNex has sold three units, with two purchased by Singapore citizens and the third by a Singapore permanent resident (PR). Huttons has brokered the sale of the fourth unit. In total, 45 units were sold during the private placement which closed on March 16, predominantly two-bedroom units from $2.292 million ($2,823 psf).
The development, which is a joint venture between Singapore-based luxury property developer SC Global Developments, Hong Kong-listed New World Development, and Far East Consortium International, offers a mix of one-bedroom-plus-study, two-, three-, and four-bedroom apartments. The unit sizes range from 700 sq ft for a one-bedroom-plus-study to 2,099 sq ft for a four-bedroom unit.
The project was initially launched in September 2019 and saw 12 units sold at an average price of $3,625 psf by the end of December 2023. In March this year, Cuscaden Reserve was relaunched at prices ranging from $2,900 psf to $3,000 psf, which is about 20% lower than the average transacted prices during its initial launch. The latest transactions show a total of 104 units have been taken up, with Singaporeans accounting for 77% of the buyers.
According to Ngiam Juyong, project director of Huttons Asia, Cuscaden Reserve was the best-selling project in the Core Central Region (CCR) last week. He also mentioned that the two- and three-bedroom units have been the most popular with buyers since the relaunch in March, with only one of the 21 three-bedroom units still available. The buyers are a mix of investors and owner-occupiers.
Cuscaden Reserve, located in prime District 10, is a 99-year leasehold condominium on Cuscaden Road. It is surrounded by two freehold luxury condos: Park Nova and 3 Orchard By-the-Park. Park Nova, which has 54 units, is entirely sold, with one unit linked to one of the 10 convicts in Singapore’s biggest money laundering case. The latest transaction at Park Nova was for a three-bedroom unit on the third level of the 20-storey tower that sold for $4.85 million ($3,388 psf) in September 2023.
Meanwhile, the latest transaction at 3 Orchard By-the-Park was for a four-bedroom duplex that fetched $12.643 million ($3,889 psf) in May. The buyer is a Singapore PR based on a caveat that has been lodged.
Overall, transaction prices at Cuscaden Reserve, Park Nova, and 3 Orchard By-the-Park have remained relatively stable over the last 15 quarters, with the latest relaunch prices being 20% lower than the initial launch.
Located just a short distance from Norwood Grand, Causeway Point is a renowned shopping destination in Singapore. Boasting over 250 stores, the mall offers a diverse range of products including fashion, electronics, and home furnishings. Popular retailers such as Metro, Uniqlo, and Bagus Food Court cater to the varied needs of shoppers. In addition, the mall also features a cinema, making it a popular entertainment spot for residents. With its wide selection of retail, dining, and leisure options, Causeway Point has become a central lifestyle hub for families and young professionals alike. Adding to its appeal, Norwood Grand Condo is situated in close proximity to this bustling mall, offering residents easy access to its array of amenities.
In conclusion, the recent “one-price promotion” at Cuscaden Reserve has generated strong interest, with several units already sold and others showing signs of strong interest. This development continues to be popular among buyers, especially for its two- and three-bedroom units, and is currently the top-selling project in the CCR.