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skyhabitat CapitaLand offers 125 systems at Sky Habitat

05:57, 16/4/2013 .. 0 comments .. Link
IT MAY be Singapore's most costly suburban condo, however more than 100 units of CapitaLand's Moshe Safdie-designed Sky Habitat in Bishan were snapped up on the first weekend of its launch.

Out of the 180 devices launched for sale, 125 devices were sold by 6pm yesterday. Eighty-three per cent of the purchasers were Singaporeans who intend to stay in the devices, said president of CapitaLand Residential Singapore Wong Heang Fine.

Ordinary costs vary from $1,747 per sq ft (psf) for a one-bedder to $1,642 psf for a four-bedder. This works out to $1.11 million for a 635 sq ft one-bedroom device.

Visitors at the display room told The Straits Times they were brought in to the design and location, despite the rates and it being a 99-year leasehold project.

There were a buyer, a sales executive who wanted to be known just as Danny, who explored the showflat just after he had purchased 2 three-bedroom units - on the 33rd and 35th floors. 'Location-wise, it's really perfect. There's big capacity (for property) in Bishan - it's breaking records. Just recently, there was a five-room (HDB) flat which was cost $950,000.'.

The 32-year-old, who means to lease both devices, included he had 'not 1 per cent of disappointment' about his purchase after seeing the showroom.

Public servant Patrick Bay, who purchased a two-room plus research pool-facing device, stated he was drawn to the job's one-of-a-kind design, particularly its 'iconic framework'.

'The rates are steep, yes, however it's comfy with the incentives provided,' Mr Bay, 35, stated, describing the 3 per cent early bird advertising. He means to stay in the unit with his wife for 'at least 10 years', and is positive that the value will be higher if he at some point chooses to sell it.

Mr Ku Swee Yong, president of International Property Advisor, said the sales figures were a ' excellent achievement', provided that the ordinary valuation of various other 99-year leasehold condos in Bishan is between $1,000 psf and $1,200 psf.

But he had actually expected more robust sales offered the preliminary hype. He suggested: 'Perhaps there is some investor fatigue in chasing up the high psf costs in the borders of Singapore.'.

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