\nThe most popular units were the 3-Bedroom and 3-Bedroom + 1 Premium units, which sold 135 out of 422 units. Image:\u00a0WeR1 Consultants
\nOLA, a Spanish-themed executive condominium (EC) project in Sengkang, sold 30% or 167 of its 548 units during its first weekend of sales, revealed property developer Anchorvale.
\nAs at 22 March, about 30% of all three-bedroom, four-bedroom and five-bedroom units were sold and 10% of two-bedders. Here\u2019s a breakdown of the units sold:<\/p>\n
2-Bedroom \u2013 3 out 30 units sold (10% sold)
\n3-Bedroom and 3-Bedroom + 1 Premium \u2013 135 out of 422 units sold (32% sold)
\n4-Bedroom \u2013 26 out of 87 units sold (30% sold)
\n5-Bedroom \u2013 3 out of 9 units sold (33% sold)<\/p>\n
The total average selling price was $1,135 per sq ft (psf). Three of the nine penthouses were transacted at above $2 million each.
The most popular units were the 3-Bedroom and 3-Bedroom + 1 Premium units, which sold...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-115100","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-tWs","jetpack-related-posts":[{"id":20890,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/treasure-crest-ec-over-70-sold\/","url_meta":{"origin":115100,"position":0},"title":"Treasure Crest EC over 70% sold","date":"July 19, 2016","format":false,"excerpt":"\r Crowds at the Treasure Crest sales gallery over the weekend. (Photo: Sim Lian Group) More than 70 percent of the units at the Treasure Crest executive condominium (EC) in Anchorvale Crescent were sold over the weekend, said its developer Sim Lian Group. During the first two days of bookings,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110134,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/higher-prices-or-not-these-new-condo-units-are-moving-fast\/","url_meta":{"origin":115100,"position":1},"title":"Higher Prices Or Not, These New Condo Units Are Moving Fast","date":"August 23, 2019","format":false,"excerpt":"\r Some private residential projects in Singapore continued to post decent sales rate even as they come with higher unit price and quantum, said Knight Frank. Amber Park sold the highest number of units in the second quarter of 2019, with 157 units sold at an average price of $2,480\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113578,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/20-the-avenir-units-sold-over-launch-weekend\/","url_meta":{"origin":115100,"position":2},"title":"20 The Avenir units sold over launch weekend","date":"January 13, 2020","format":false,"excerpt":"\r The weekend launch saw 20 of the 40 released units sold, with average prices hitting $2,960 to $3,560 psf. The Avenir, a freehold ultra-luxury condominium project in River Valley, sold 20 of the 40 units released over the weekend, with average prices hitting $2,960 to $3,560 per sq ft\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84846,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/149-units-at-park-place-residences-sold-at-average-2000-psf\/","url_meta":{"origin":115100,"position":3},"title":"149 units at Park Place Residences sold at average $2,000 psf","date":"April 9, 2018","format":false,"excerpt":"\r A large crowd of buyers at the Phase 2 sales launch of Park Place Residences at PLQ. (Photo: Lendlease) Two residential projects launched over the weekend (7-8 Apr) drew an overwhelming response from buyers, further boosting property market sentiment. Lendlease\u2019s Phase 2 sales launch of Park Place Residences at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51647,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gramercy-park-mostly-bought-by-non-singaporeans-at-an-average-of-2600-to-2800-psf\/","url_meta":{"origin":115100,"position":4},"title":"Gramercy Park mostly bought by non-Singaporeans at an average of $2,600 to $2,800 psf","date":"April 12, 2017","format":false,"excerpt":"\r Around 76 percent of sales at the freehold project in Grange Road were to non-Singaporeans, with average prices up from over $2,600 psf to about $2,800 psf. (Photo: Christopher Chitty) Property developer City Developments Limited (CDL) has sold 81 of the 174 available units (47 percent) at its Gramercy\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108222,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tee-land-sells-15-of-48-units-at-lattice-one-preview-weekend\/","url_meta":{"origin":115100,"position":5},"title":"Tee Land sells 15 of 48 units at Lattice One preview weekend","date":"June 18, 2019","format":false,"excerpt":"\r The units were sold at an average price of $1,800 psf, and buyers of these units were all Singaporeans. Tee Land has sold 15 of the 48 units at its Lattice One condominium project at Seraya Crescent, at an average price of $1,800 per sq ft (psf) during its\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/115100"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=115100"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/115100\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=115100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=115100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=115100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nMeanwhile, first-time buyers snapped 102 units, while 65 units were acquired by second-time home buyers looking to upgrade. Of the 167 buyers, 107 of them were from Sengkang in District 19, which showed the popularity of Sengkang among Singapore home buyers.
\n\u00a0
\n38% of buyers opted for Deferred Payment Scheme
\nA joint venture between Evia Real Estate and Gamuda Land, Anchorvale said 38% of buyers were on deferred payment scheme and the rest on normal progressive payment.
\n\u201cThe Covid-19 situation has increased economic and job uncertainty among Singaporeans, especially in the past few weeks,\u201d said Vincent Ong, Director of Evia Real Estate.
\n\u201cThis is also reflected in the lower-than-expected turnout over the first weekend of sales and by the higher proportion of buyers opting for deferred payment.\u201d
\nHe noted that OLA is probably the only sizeable housing project to proceed with its sales launch after the COVID-19 health situation\u2019s impact began to be felt across the city-state\u2019s economy.
\n\u201cUnder such exceptional circumstances, we are encouraged by the sales after the first weekend. We remain convinced that this project has set a new standard for ECs in Singapore, and has been priced at affordable rates.\u201d
\nSet to be completed in December 2023, OLA is located near Cheng Lim LRT and Sengkang MRT station.
\nLooking to buy an executive condo in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings to find ECs for sale. Alternatively, checkout our\u00a0Project Reviews\u00a0and\u00a0Guides\u00a0for comprehensive articles to help you with your property-buying\/selling journey.\u00a0
\n\u00a0
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n\u00a0
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\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Executive condo OLA sells 30% of units at ,135 psf on average<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"