Hong Leong Sells 20 Units At The Avenir On Launch Weekend

SINGAPORE (EDGEPROP) – The Avenir, one of the pioneer projects to launch in year 2020, sold 20 out of 40 apartments that were released for sale over 11 and 12 January, according to a spokesperson from Hong Leong Holdings in a press release on Sunday, January 12. 7 out of the 20 apartments transacted were premium, 4-bedroom units with their own private lift. These apartments achieved an average price of $3,560 per square feet (psf). The other 13 units transacted were a mixture of 1- to 4-bedroom apartments with sizes from 527 to 2,411 sq ft, and were sold at an average price of $2,960 psf. These sales have helped a great many who are starting our their property agent career.About 60 percent of the buyers are Singapore citizens and Permanent Residents, while 30 percent are foreigners from the United States and China.The Avenir was 1 of 3 projects that previewed on third of January, and is perceived as the most luxurious, having 376 apartments sited on a prime, freehold land of 129,648 square feet in the River Valley region of District 9. The other 2 projects are sited in the Leedon Heights neighbourhood, and along Holland Road. Both of these residences have a freehold tenure too, but are located in prime District 10.

‘The only District 9 luxury project to launch’

“As the only prestigious residential project launched in District 9 to date, The Avenir is highly expected, and proven thus far, to be an excellent investment opportunity,” said Betsy Chng, head of marketing and sales at Hong Leong Holdings. “More apartments are likely to be transacted, as soon as deposits are transferred and issuance of options are completed.”The 36-storey twin towers of this development, very similar to the concept of the towers at Avenue South Residence, are designed by Jean Francois Milou, a French architect from StudioMilou, who is famous for his concept for the National Gallery Singapore. Apartments in 1 of the towers will overlook Orchard Road, while the other tower have views of the Singapore River.”We are encouraged by the good response to this project,” comments Miss Chng. “This is a good indicator of strong appetite for luxury non-landed residences with bigger units in the country’s prime property market.”

Given that a number of home purchasers have not return from their year-end vacation and the short duration for garnering interest before the property launch, “I would comment that the take-up rate is excellent,” says Mr Dominic Lee, head of the luxury team at PropNex Realty, which is a joint marketing agency for Avenue South Residence too.

Dominic reckons transaction activity will slow down over the next 2 weekends, but will pick up again after the Chinese New Year holiday. “I predict momentum to gain traction after the Chinese New Year, especially with more new residential projects launch over the next few weeks,” he says.

Upcoming launches

Projects that will be popular because of their good location and attractive pricing that are in the pipeline for preview this year include: the Dairy Farm Residences Site, Clavon condo site and Penrose condo site.“A lot of new residential property launches in the popular districts will commence in the first quarter of 2020,” comments Mr Lee.

Source: https://www.edgeprop.sg/property-news/hong-leong-sells-20-units-avenir-launch-weekend

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