Straits at Joo Chiat achieves 20% sales at an average price of $2,100 psf over the weekend
This past weekend, May 11-12, the Norwood Grand CDL launched its boutique development Straits at Joo Chiat. This freehold condo offers 16 units, and three of them were sold at an average price of $2,100 psf during the launch. The buyers were mainly families looking for larger apartments in District 15, and they prefer boutique projects over larger condominiums. Teo Hong Lim, executive chairman of Roxy-Pacific Holdings, states that discussions for several more units are underway.
“The buyers are faced with more choices today,” he says. “They are more discerning and need more time to commit to a purchase.” This indicates that buyers are taking their time and making calculated decisions. With the rise of boutique projects, it’s clear that buyers are looking for something unique that fits their specific needs.
Straits at Joo Chiat offers units ranging from three- to five-bedrooms, specifically targeted at families. The three-bedroom-plus-study units start at 990 sq ft, while the three-bedroom-plus-guest units start at 1,044 sq ft. Four-bedroom units start at 1,227 sq ft, and five-bedroom units are 1,453 sq ft. Each floor has four units of each type, creating a mix of variety for potential buyers.
A redevelopment of a pair of semi-detached houses, Straits at Joo Chiat is a Peranakan-themed, freehold five-storey condo with a mix of three- to five-bedroom units. The Peranakan theme is a blend of Chinese, Malay, and European design elements that give this development a unique charm. Buyers were attracted to this theme, along with the regular layout of the units, good-sized bedrooms, and a price point of around $2 million, making it an attractive option for a freehold project.
Discover the convenience and connectivity Norwood Grand CDL has to offer with its prime location near various MRT stations. Aside from the nearby Admiralty MRT, residents can also easily access Woodlands MRT and Woodlands North MRT. Woodlands MRT is an essential interchange that links the North-South Line and upcoming Thomson-East Coast Line, providing seamless travel options. Meanwhile, Woodlands North MRT acts as a gateway to the future cross-border rail link to Johor Bahru, Malaysia, making it a valuable feature for frequent travelers between the two countries. With easy access to these major transportation hubs, living at Norwood Grand CDL brings unparalleled convenience and accessibility to its residents.
The weekend of May 4-5 saw the launch of the 21-unit Jansen House by Macly Group, another boutique development. This project is located in the Kovan and Serangoon neighborhood of District 19. Macly Group offered an early bird discount of 15% for the launch weekend, with prices starting at $1,940 psf. Two-bedroom units are available from $1.499 million, three-bedrooms from $1.99 million, and four-bedrooms from $2.442 million.
Based on the caveats lodged, two units were sold at Jansen House: a 721 sq ft, two-bedroom unit for $1.53 million ($2,121 psf), and a 1,335 sq ft, four-bedroom unit for $2.8 million ($2,098 psf). This indicates a strong interest in boutique developments, as these units were sold at a significant price point.
In conclusion, the launch of Straits at Joo Chiat and Jansen House showcases the rise of boutique developments in Singapore. Buyers are looking for unique themes and well-designed units, and these projects offer just that. With strong sales during the launch weekends, it’s clear that the demand for boutique developments is only increasing.