\nThere are fewer than 10 unsold units at The Tembusu, a freehold condo located near Kovan MRT station. (Photo: PropertyGuru)<\/p>\n
Property developer Wing Tai Holdings on Wednesday (14 September) topped out the construction of The Tembusu, a freehold condominium near Kovan MRT station.
There are fewer than 10 unsold units at The Tembusu, a freehold condo located near...<\/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-26037","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\/p75ss1-6LX","jetpack-related-posts":[{"id":122310,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/three-residential-sites-at-lentor-hills-road-jalan-tembusu-released-for-sale\/","url_meta":{"origin":26037,"position":0},"title":"Three residential sites at Lentor Hills Road, Jalan Tembusu released for sale","date":"October 1, 2021","format":false,"excerpt":"\r Three residential sites at Lentor Hills Road, Jalan Tembusu released for saleThree residential sites located at Lentor Hills Road (Parcels A and B) and Jalan Tembusu have been released for sale under the second half 2021 Government Land Sales (GLS) programme, revealed the Urban Redevelopment Authority (URA) on Thursday\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/lentor-gls-1-oct.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":103980,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-florence-residences-to-benefit-from-new-mrt-stations\/","url_meta":{"origin":26037,"position":1},"title":"The Florence Residences to benefit from new MRT stations","date":"February 14, 2019","format":false,"excerpt":"\r The new condo is near the existing Hougang MRT station, which will become an interchange station along the highly-anticipated Cross Island Line. 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\nThe development, built on the site of Wing Tai\u2019s former headquarters at Tampines Road, was launched in August 2013, close to two months after the government introduced the Total Debt Servicing Ratio (TDSR) framework, restricting property loans.
\nDespite the tighter lending regulations and additional stamp duties, sales at the 337-unit project were brisk, with more than 200 units sold on the first day of sales.
\nSpread across five blocks, unit types range from one- to four-bedroom apartments, dual-key units and penthouses, with sizes from 474 sq ft to 3,886 sq ft. Initial launch prices ranged from $695,000 to $2.28 million for the one- to four-bedders.
\nStacey Ow Yeong, Senior General Manager of Marketing at Wing Tai, told PropertyGuru that there are fewer than 10 unsold units at The Tembusu. The units range from one-bedroom configurations measuring 474 sq ft to four-bedroom units of 1,701 sq ft. Prices start from $850,000.
\nOw Yeong is confident that the project\u2019s freehold status, proximity to the MRT station and recently achieved Temporary Occupation Permit (TOP) is enough to drive sales of the balance units.
\n\u201cWith TOP means immediate move in and immediate returns for homeowners and investors. We believe these are strong factors that will bring demand to our development,\u201d she said.
\nAnalysts noted that purchasing units in TOP projects are much less hassle compared to resale apartments or those under construction.
\n\u201cUnits which have recently received their TOP have the added advantage of being brand new, therefore requiring less renovation work than a resale unit. Also, buyers of a TOP project can view the actual unit prior to purchase, as opposed to just being able to view the showflat and model for a newly launched project,\u201d said Eugene Lim, Key Executive Officer of ERA Realty.
\nDr Lee Nai Jia, Head of Southeast Asia Research at Edmund Tie & Company, said TOP projects benefit buyers who want to move in immediately as it reduces the amount of uncertainty and waiting time.
\n\u201cFor investors, it means that they can immediately rent out the premises after purchase, whereas investors who purchase off-plan will see their rent coming in much later.
\n\u201cGiven the weaker rental market, it may mean a first mover advantage for those who purchase a TOP project,\u201d he added.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…The Tembusu condo topped out<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"