Bukit Sembawang’s Liv @ MB sells over 75% of units on launch weekend

BUKIT Sembawang Estates' condominium project Liv @ MB in the Mountbatten area has sold more than 75 per cent of its 298 units, at an average selling price of S$2,387 per square foot (psf), Bukit Sembawang said in a press statement.

Over 90 per cent of buyers were Singaporeans residing in the immediate neighbourhood, Bukit Sembawang said on Sunday (May 22).

Located on Arthur Road, Liv @ MB is a 99-year-leasehold project with units spread across 4 blocks. It sits on 140,000 sq ft of land – with 80 per cent dedicated to recreational facilities and lush landscaping – and is a 3-minute walk from the future Katong Park MRT.

The project opened for preview on May 6, with indicative prices ranging from S$1.08 million for a 1-bedroom unit to S$3.63 million for a 4-bedroom deluxe one.

Earlier indicated prices ranged from S$2,190 psf for 1-bedroom units (from 495 sq ft), S$2,292 psf for 2-bedroom units (from 624 sq ft) and S$2,288 psf for 2-bedroom deluxe (from 753 sq ft) to S$2,080 psf for 3-bedroom units (from 1,119 sq ft).

The 4-bedders start from the 12th floor, with earlier indicated pricing ranging from S$2,233 psf (from 1,518 sq ft) to S$2,177 psf for the deluxe version (from 1,668 sq ft).

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Huttons Asia CEO Mark Yip said: “Another major project launch in 2022 has achieved more than 70 per cent sales on launch day. This is truly remarkable against the backdrop of cooling measures in December 2021, rising interest rates, rising inflation and global uncertainties.”

Yip noted that the attractive entry price from S$2,080 psf further sweetens the deal for buyers. “Regardless of government interventions in the housing segment, the market believes that today's pricing is acceptable as construction costs have risen considerably,” he added.

Another new launch in the East, freehold boutique project Baywind Residences, sold 29 per cent or 7 out of 24 apartment units available over the weekend at an average price of S$2,025 psf.

The highest price of S$2,143 psf was achieved for a 3-bedroom apartment unit spanning 969 sq ft. It sold for S$2.077 million.

Baywind Residences developers LWH Holdings and mainboard-listed ABR Holdings noted that all buyers so far are Singaporean and mostly young families.

Located at 93 Lorong N Telok Kurau, Baywind Residences compromises 24 units of 3 and 4-bedroom apartments. The freehold residential property started showflat previews on May 14, with guide prices starting from below S$2 million. Earlier indicative prices ranged from S$2,038 psf for 3-bedroom flats (from 969 sq ft to 1,066 sq ft) and $1,953 psf for the 4-bedders (from 1,270 sq ft to 1,313 sq ft).

Piccadilly Grand, the first major private residential development to come on the market since cooling measures were introduced, sold 77 per cent of its 407 units during the project’s launch weekend earlier this month. The joint venture project by City Developments Limited and MCL Land recorded an average selling price of S$2,150 psf.

Lee Sze Teck, senior director of research at Huttons, said: “We foresee the positive sentiments from Piccadilly Grand and LIV@MB to spillover to other project launches in the months ahead.”

Additional reporting by Boo Zhixuan

Amendment note: An earlier version of this article incorrectly stated that the highest price achieved for a 3-bedroom apartment at Baywind Residences was S$2,134. It is in fact S$2,143. The article above has been revised to reflect this.