A closely watched condo launch nets better-than-average take-up

This week in Property

• Will healthy sales for the latest condo launch bring good tidings for others?
• How Singapore developers are reading the market  
• Malaysia dishes out new incentives while Hong Kong struggles

When a 50% take-up at launch is positive news

Sales at Bukit Sembawang’s launch of its 8@BT project at Upper Bukit Timah got off to a healthy start over the weekend. The developer sold 83 units, or slightly over half of the 158 units available, at an average selling price of S$2,719 per square foot (psf). Take-up was above average - the new launches that have made it to the market since the start of the year have scored 30-plus per cent sales at launch on average. 

Notably, one-third of the buyers at 8@BT were aged between 31 and 40, and 21 per cent were between the ages of 21 and 30, Jessie Lim reports. The best-selling units were the smallest - one-bedders starting from S$1.34 million.