There were 297 units launched at Optima @ Tanah merah over the weekend comprising of 1,2,2+study, 3, 3+study and 4 bedroom with estimated TOP of 2014. Due to the overwhelming response and people forming long queues, a balloting system was used in the initial two days. The project nearly sold out in the first two days at ASP around S$800 - S$900 psf. With the sale of the few remaining units yesterday, the entire project is fully sold in just three days. The rentals yields are around 4%. The buyer profile were mostly Singaporeans with a small percentage of foreigners mainly Chinese PR's and Malaysians. Asking Prices at Casa Merah, adjacent to Optima, have shot up from the range of S$700 psf to S$ 830 psf with in a span of month.
Centro ResidencesThe developer Far East Organization, launched around 40% or 120 units out of a total of 329 units in the first phase launch of Centro Residences. The units comprise of 2/3/4 Bedrooms + Penthouses with floor Size range from 775 - 1025 sqft. The was a huge rush and we had to wait for 10 mins before our turn. More than 80% of the launched units were already taken up a ASPs around S$1100-1200 psf after a special discount of 12%. The expected yields are arounf 3.5-4.0%. Asking prices at nearby Grandeur 8 have jumped from 750 psf to around 850 psf. The price level of S$1100 - 1200 psf is a new price benchmark for that area.
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