News: Treasure at Tampines sales launch brought forward

Mar 21, 2019

Close to 7,000 people visited the project’s sales gallery recently. With 2,203 units, the project is touted as Singapore’s largest condo. (Photo: Sim Lian)

Following a “very encouraging response” at the launch preview, the developers of private condo Treasure at Tampines have brought forward the sales launch of the project by a week to this Saturday (23 Mar).

Sim Lian Group and Sim Lian Holdings revealed that close to 7,000 people visited the project’s sales gallery from 15 to 17 March.

SEE ALSO: The complete guide to buying a new launch condo in Singapore

Touted as Singapore’s largest condo, Treasure at Tampines is a 99-year leasehold project featuring 2,203 apartment units. It sits on a sprawling 650,000 sq ft site along Tampines Street 11 and is expected to receive its Temporary Occupation Permit by 2023.

ZACD Group executive director Nicholas Mak believes that the project’s attractive price of $1,280 psf on average is one of the factors that lured people into visiting the showflat, reported Today Online.

According to him, the price is relatively lower compared to other 99-year leasehold condos within the vicinity.

Among those interested in Treasure at Tampines are those unaffected by the cooling measures, such as individuals who are yet to own a home and do not mind checking out their options, noted Mak.

But given the current market conditions, analysts noted that the high turnout at the project may not translate into high sales volume.

“There is a lot of ‘browser interest’ and (many) cheque submissions, but conversion is another story,” said International Property Advisor CEO Ku Swee Yong.

Ku stated that while there are Singaporeans looking to buy private properties, there are also expectations for lower prices considering that the latest property curbs significantly raised the financial requirements for potential buyers.

And since visiting showflats has become almost like a “national pastime” for Singaporeans, a more accurate picture of the market could be seen in the number of cheques submitted and converted into sales, said analysts.

Can you afford a condo in Singapore? Check your affordability now. Get more details on the property market outlook for 2019

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

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