Freehold Royal Hallmark 31 per cent sold as demand slows in wake of cooling measures
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ROYAL Hallmark, a boutique 32-unit freehold development in district 15, moved 10 units on Saturday (Feb 26) when it was launched for sale.
According to price guides seen by The Business Times, units were sold at about S$2,100 to S$2,200 per square foot (psf) for the 3-bedroom units, about S$1,800 to S$1,900 psf for the 4-bedroom units and about S$1,700 to S$1,800 psf for the 5-bedroom units.
The 5-storey development with attic residential flats has 14 3-bedroom units, 14 4-bedroom units, 2 5-bedroom units and 2 5-bedroom penthouse units. The unit sizes range from 797 sq ft for the 3-bedroom classic units to 2,077 sq ft for the 5-bedroom penthouse units.
The condominium's developer, H Homes, is a joint venture led by Patrick Kho of Lian Huat Group, Terence Goon of Nobel Design, and Von Lee and David Ong, both of 2E Capital.
Lee Sze Teck, senior research director at Huttons Asia, said that sales of Royal Hallmark were within expectation in light of the recent property cooling measures that had been implemented.
The cooling measures, which were implemented on Dec 16, 2021, include higher additional buyer's stamp duty (ABSD) rates and tightened total debt servicing ratio (TDSR) threshold.
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Still, he noted that the 5-bedroom units at the development were sold out on Saturday as larger units in the vicinity are in limited supply.
"The price points for the units were similar in quantum to units in older developments, making it an attractive proposition for buyers seeking to live in district 15," he said.
Situated at 1 Haig Lane, the project is a 5-minute walk from shopping mall Kinex and Haig Road Market and Food Centre. Primary schools within a 1 km radius include Tanjong Katong Primary School and Haig Girls' School.
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