The first day of launch of The Tre Ver at Potong Pasir Avenue 1, more than 140 units were sold within the first three hours by balloting. The project saw six agencies involved in the launch – ERA, Huttons, PropNex, Knight Frank, OrangeTee & Tie and Savills.
The 141 units sold translates to 70.5% of the 200 units released. The 729-unit private condo is a joint venture project between UOL Group and UIC, which features a sustainable design by acclaimed architectural firm WOHA.
The crowd at the balloting tent in the morning of Aug 4, the first day of launch (Credit: UOL Group)
“We are immediately releasing Phase 2 with more units offering dual view of the amenities and the river,” says Jesline Goh, UOL Group senior general manager – asset management and marketing. The strong first-day sales was achieved despite the implementation of the latest round of property cooling measures by the government on Jul 6.
This demonstrates strong underlying homebuyer demand, says Liam Wee Sin, UOL Group deputy group CEO. Most of the buyers are said to be Singaporeans and first-time homebuyers.
Average transacted price at The Tre Ver was about $1,550 psf to $1,600 psf. The developer also offered a $5,000 discount on the purchase price as an incentive to buyers on the first-day of launch. One-bedroom units are priced from $738,000, two-bedroom units from $898,000 and three-bedrooms start from $1.54 million.
The queues during balloting at the sales gallery of The Tre Ver (Credit: UOL Group)
The sales at The Tre Ver today was comparable to the sales at the 445-unit Thomson Three – a joint project by UOL Group and Singapore Land – where 160 units were sold on the first day of launch, despite the project being rolled out just three months after the total debt servicing ratio (TDSR) kicked in at the end of June 2013.
At UOL Group’s 797-unit Botanique at Bartley, more than 150 units were sold on the first day of launch in March 2015. When the 663-unit Principal Gardens, a joint venture project between UOL Group and Kheng Leong, was launched in Nov 2015, about 120 units were sold on the first day. In February 2017, the 505-unit The Clement Canopy garnered 195 sales on launch day. Today, the project is fully sold.