Orchard condo sets record psf prices
Most of the released units in CDL's recently launched New Futura project have been sold at an average price of $3,200 psf – the highest in five years...
18 of the 25 units released for sale were sold at an average price of $3,200 psf.
New Futura, City Development Limited’s (CDL) luxury condominium project at Leonie Hill Road, received positive response from buyers, with 18 units sold at an average price of $3,200 psf during its first day of launch on 18 January (Thursday).
CDL revealed that only 25 units were released during the private viewing, while the units sold comprised two, three and four-bedroom units.
It noted that a third of the buyers were Singaporeans, while two-thirds were Singapore permanent residents and foreigners.
Just a 10-minute walk to Orchard Road, the freehold development is nestled on an 87,000 sq ft site, featuring 124 residential units as well as 253 carpark lots, including 30 supercar lots.
CDL acquired the site in a collective sale for $287.3 million in 2006, which works out to a land rate of $1,179 psf.
“Given the scarcity of brand new developments in the area, we are confident that New Futura will continue to attract savvy buyers looking for luxury living in the heart of town with good investment potential,” said a CDL spokesperson.