By Romesh Navaratnarajah: The Topiary (pictured), a new 700-unit executive condominium development along Fernvale Lane at Seletar Hills will open for E-Applications this Friday, with units expected to fetch S$700 to S$720 psf, according to The Business Times.
The development comprises three-bedroom units ranging from 904 to 1,130 sq ft and three-bedder dual key units between 1,259 to 1,539 sq ft. Four-bedroom dual key units range from 1,389 to 1,636 sq ft and penthouses from 1,970 to 2,476 sq ft.
"The minister came out to fire a warning shot, so these guys may be less aggressive in their pricing strategy... (Previously, a development in this area) could even push S$740-S$750 psf," said Alan Cheong, Head of Research at Savills Singapore, citing National Development Minister Khaw Boon Wan's reminder to developers on the EC policy.
Donald Han, Special Advisor at HSR Property Group, said that unlike the north-eastern side, the Fernvale area has less EC competition, adding that "developers are unlikely to offer discounts or be concerned about Minister Khaw's feedback".
He noted that the feedback will probably affect developers bidding for EC sites as regulatory framework in the next couple of months is still unknown.
E-Applications for The Topiary will run until 4 December. Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg Related Stories: Singapore's first hotel-inspired EC to open for application
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