EC unit to eclipse S$2m mark

By Romesh Navaratnarajah:CityLife@Tampines (pictured) could set a new record as its presidential suite will be priced at around S$2.05 million, or S$470 psf on its 4,349 sq ft area. If successfully sold at the launch this weekend, the penthouse will become the first executive condominium (EC) unit to surpass the S$2 million mark, reported The Straits Times.

If just the liveable space is factored in, the expected selling price would rise to S$744 psf. Notably, the unit comes with a roof terrace of around 1,600 sq ft in area.

Currently, the most expensive EC unit is a 2,845 sq ft penthouse at Heron Bay in Upper Serangoon, sold for S$1.77 million in October.

Meanwhile, interested buyers flocked to CityLife's showflat in Tampines Avenue 7 on Wednesday during the first day of preview, and bookings are expected to start on Saturday.

Moreover, the 514-unit EC received about 1,800 applications before the deadline earlier this month. According to the project's marketing agent, around 30 percent of the sales hotline inquiries were for the six skysuites or the presidential suite.

The three-bedroom units and other smaller units will be priced below S$1 million with average prices at S$770 psf. CityLife is being developed by a consortium comprising SingXpress Land, Amara Holdings and Kay Lim Holdings. Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg Related Stories: Strong interest in Forestville EC Echelon to commence sales this week Forestville EC launching this month

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