The weekend of Nov 5-6 saw two projects launched for sale, namely the 736-unit Queens Peak on Dundee Road and the 752-unit Parc Riviera at West Coast.

Queens Peak, developed by Hao Yuan Investment and project managed by MCC Land, sold 242 units on its launch day on November 5. One- and two-bedroom units made up 90% of units sold that day. Total sales for the weekend was 250. The average price of units sold was $1,632 psf.

Going by the launch day sales numbers, “Queens Peak is likely the best performer in recent years among the newer crop of private housing projects in Queenstown-Redhill area,” says Tan Zhiyong, managing director of MCC Land.

EL Development’s one-tier pricing for early birds attracted over 100 buyers in the same weekend. The innovative one-tier pricing meant that similar sized units on the 2nd to 15th floors will have the same price. For instance, one-bedders of 463 sq ft were priced at $550,000 and two-bedders of 603 sq ft were priced at $725,000, regardless of which floor the units are on as long as they are between the 2nd to 15th floors.

Over the weekend, all except one of the units sold at Parc Riviera were located on the 2nd to 15th floors. The average price of units sold at Parc Riviera was $1,175 psf. “The one-tier pricing has ended,” says Lim Yew Soon, managing director of EL Development. “We have reverted to the normal pricing today. We will monitor our sales before deciding if we will be offering any other incentives in future.”