109 units at the Hillsta project (pictured) in Choa Chu Kang were snapped up during its launch on Thursday.
Developer Far East Organization (FEO) said that around 90 percent of the buyers for the Japanese-inspired development were Singaporeans. Hillsta, a joint venture (JV) between FEO, Sekisui House and China Construction, offers condominium, townhouse and Soho units.
One of the major selling points of the development is its proximity to amenities such as Phoenix LRT station, said Chia Boon Kuah, Chief Operating Officer of Property Sales at FEO.
A townhouse is priced from S$907 psf, while a one-bedroom Soho unit is priced from from S$1,198 psf. For a one-bedroom 570 sq ft unit, prices start at S$600,000 onwards.
Moreover, about 33 units from FEO's other projects were also sold last week, comprising units at Woodhaven in Woodlands, Centro Residences in Ang Mo Kio and The Hillier in Hillview.
Meanwhile, Frasers Centrepoint's Palm Isles at Flora Drive and Twin Waterfalls at Punggol Walk also had 40 units and eight units snapped up respectively, over the weekend.
Additionally, about eight units at Seletar Park Residence by Tuan Sing Holdings were also snapped up by Singaporean buyers.
Colin Tan, Research Head at Chesterton Suntec International, commented that developers often take advantage of new launches by initially releasing "second- or third-tier" units
"Good marketing creates buying momentum, and makes your prices for not-so-good units seem like they have been heavily discounted," he noted.
Related Stories:
Developers in a rush to launch new projects
ERA's marketing of Sky Habitat breaks rules
Gardens by the Bay set for June unveiling
More from PropertyGuru:
Developers in a rush to launch new projects
ERA's marketing of Sky Habitat breaks rules
Gardens by the Bay set for June unveiling
270 units sold at Ripple Bay condo