Woman splurges on $1.37 million condo @ECO as investment for son

AsiaOne
Friday, Sep 21, 2012

SINGAPORE - A 56-year-old retiree told The Straits Times she bought a $1.37 million three-bedroom apartment for her son as an 'investment'.

Ms Soh Poh Neo said she found the location in Bedok South Avenue 3 and the reasonable pricing and nature-inspired concept of eCO appealing.

Buyers snap up units at eCO@Bedok South Click on thumbnail to view (Photos: ST, eCO@Bedok South)

So far, more than 220 apartments at the 748-unit project have been purchased.

Almost all the buyers were Singaporeans and permanent residents. According to the English daily, eCO's proximity to Tanah Merah MRT station, Changi Airport, Bedok Central and good schools were all reasons for purchasing a unit.

Ms Soh said the 1,152 sq ft unit has other draws such as its value and the potential upside she can get from the project. It is also cheaper compared to other condos nearby such as Optima and Casa Merah.

Fears of rising property prices on the back of costlier land and higher construction costs also encouraged her to purchase the unit.

Another buyer said the location was the clincher. The proximity of the MRT station and nearby amenities helped him make up his mind.

The businessman bought a 1.038 sq ft three-bedroom investment unit for about $1.24 million.

Homes at eCO were sold for about $1,250 per sq ft. Prices start at $745,000 for a 549 sq ft one-bedder.

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Strong demand for eCO

  luxuryasiahome ⋅ September 21, 2012 ⋅

Of the 262 units released at the 99-year leasehold eCO in Bedok South Avenue 3, over 220 were snapped up on the first day of its preview, according to The Business Times.

Units at the 748-unit development were selling at S$1,250 psf on average, said marketing agents. Around 95 percent of the buyers are Singaporeans and permanent residents (PRs).

Those who committed to buy units on the first day were entitled to discounts of up to 18 percent, including early-bird, loyalty, and vicinity discounts. The discounts have since been scaled back by around four percent, pushing average selling prices to about S$1,300 psf.

Jointly developed by Far East Organization, Frasers Centrepoint, and Sekisui House, eCO comprises 246 suites, 220 Soho (small-office-home-office) units, 248 condo units, and 34 townhouses. A 549 sq ft one-bedroom suite is priced from S$745,000.

Three of the five blocks launched are almost fully sold, said agents, adding that the two-bedders were the fastest selling units.

Lee Sze Teck, Senior Manager, Training, Research and Consultancy at DWG, said: “eCO’s average selling price psf is very competitive relative to Optima, which, based on caveats lodged with the Urban Redevelopment Authority (URA), is averaging S$1,200 psf to S$1,250 psf. Smaller units at Optima go for as high as $1,500 psf.”

eCO is set to obtain its TOP (temporary occupation period) in 2017.

Source : PropertyGuru – 21 Sep 2012

“eCO”公寓首期推出 262單位賣出220多個

華京京 (2012-09-21)

“eCO”示範單位從前天傍晚起開放後，約有300人陸續前往參觀。（發展商提供）

　　農曆七月剛在上周結束，發展商在本周已迫不及待地推出新項目，而市場反應似乎也相當不錯。位於勿洛南3道的“eCO”公寓項目在前天正式推出，截至昨日下午已經賣出第一期262個單位中的220多個。

　　這個由遠東機構、星獅地產和日本積水住宅（Sekisui House）攜手發展的99年地契項目，共有748個麵積介於549至3854平方英尺的單位，預計於2017年底取得臨時入夥準證（TOP）。

　　項目示範單位從前天傍晚起開放後，約有300人陸續前往參觀，並在不到24小時內就賣出超過220個單位，買家中95％是新加坡公民或永久居民。

　　就單位尺價而言，發展商並未透露具體數字，隻是表示說最小的549平方英尺單位售價從74萬5000元起。如果以此來計算，尺價大約是從1357元起。

　　項目以貼近大自然為主要設計概念，希望將SOHO家居、套房公寓（Suite）、時尚公寓（Condo）、複式閣樓（Loft）、聯排別墅（Towohouse）等五種單位類型，與大自然的動植物美景取得完美結合。

　　遠東機構營運總裁（房地產銷售）謝文華表示，生態環境（ecology）講求動植物與其周遭環境的微妙和可持續性關係，這個概念激發了這個最新項目的發展理念。

　　項目相信是勿洛南一帶近30年來的首個私宅項目，距離丹拉美拉地鐵站約400公尺，附近主要道路包括東海岸公園大道和泛島高速公路等。

　　長益集團今預售Gambir Ridge

　　與此同時，長益集團（TA Corporation）也在今天預售其位於甘必徑（Gambir Walk）的永久地契私宅項目“Gambir Ridge”。

　　該項目包括兩座五層高的住宅樓及一個地下停車場，共有77個單臥室至四臥室單位，麵積介於614至1938平方英尺，預計將於2015年底取得臨時入夥準證。

　　項目所處位置靠近巴特禮和兀裏地鐵站，附近的學校包括海星中學、聖加俾爾中學等，購物商場則有NEX商場、高文心鄰坊（Heartland Mall）等。

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