CapitaLand sells 80% of Wharf Residence

CapitaLand’s The Wharf Residence continued to see strong buyer response over the weekend. Following the sale of 85% of 100 units launched on Friday, 15 May 2009, the company released new units and sold another 24 apartments over the weekend. This brings the total number of units sold to date at the development to 134 units as at 4pm on Sunday, 17 May 2009. This represents a sale of about 80% of the 173 apartments in the development. About 80 per cent of buyers for the 134 units sold to date are Singaporeans. The rest are from Indonesia, Malaysia, China, Japan, Canada and Vietnam.

The Wharf Residence is a 999-year leasehold condominium, located off the hip Mohamed Sultan Road, comprising four residential towers and 13 conservation shophouses. The apartments comprise two to four-bedroom units ranging from 1,012 to 2,196 square feet, as well as five penthouses (2,745 to 5,565 sq ft). The development also includes 13 conserved shophouses, dubbed the Vintage Collection houses, ranging from 4,478 to 4,930 sq ft in strata area.

The apartments are priced at between $1,300 and $1,600 per square foot (psf) inclusive of a package comprising stamp duty absorption and an interest absorption scheme. Buyers who do not opt for this package will enjoy an 8 per cent discount. Last year, CapitaLand priced apartments in the development at $1,500 to $1,900 psf, again inclusive of the stamp duty/interest absorption package. However, buyers were not given the choice of not opting for this package.


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