Nearly half the units at The Botany sold on launch day at average of S$2,070psf
NEARLY half of the 386 units at Sim Lian Group’s The Botany at Dairy Farm were sold on their launch day on Saturday (Mar 4) at an average price of S$2,070 per square foot (psf), showing robust buying interest for suburban condominiums.
A statement by Sim Lian on Sunday indicated that some 187 units at The Botany were sold as of Mar 4, with the one- and two-bedroom units in the development seeing the strongest demand from buyers.
Jointly developed by Sim Lian Land and Sim Lian Development, The Botany is a 99-year leasehold private condominium located at Dairy Farm Walk, close to Hillview MRT station.
PropNex chief executive Ismail Gafoor said the take-up rate of 48 per cent has “surpassed our expectations”.
“We believe it is a strong performance, reflecting the genuine demand for mass market homes amid the limited unsold Outside Central Region (OCR) new private home inventory,” he said. “The larger proportion of smaller units sold suggests that there is still investment demand in the market.”
Sim Lian said buyers were “well represented by a balanced mix of both owner-occupiers and investors”. Singaporeans made up 85 per cent of the total buyers, with permanent residents and foreign buyers making up the remainder.
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“The robust take-up of units at The Botany at Dairy Farm on the first day of public booking reflects the healthy demand for suburban condominiums,” said ERA Asia Pacific’s chief executive Marcus Chu.