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Straits at Joo Chiat achieves 20% sales at an average price of $2,100 psf over the weekend

/ EdgeProp Singapore |

May 12, 2024 10:41 PM SGT

Showflat of Roxy-Pacific Holdings' Straits at Joo Chiat, a boutique development with a Peranakan theme (Photo: Samuel Isaac Chua/EdgeProp Singapore)

This May 11-12 weekend marked the launch of Roxy-Pacific Holdings' boutique development Straits at Joo Chiat. Three out of a total of 16 units in the freehold condo were sold over the weekend at an average price of $2,100 psf.

The three units sold were a mix of three-bedroom-plus-study and four-bedroom types. "The buyers were mainly families looking for good-sized apartments in District 15 and prefer boutique projects to larger condominiums," says Teo Hong Lim, executive chairman of Roxy-Pacific Holdings.

Discussions are underway for several more units, according to Teo.

Showflat of a three-bedroom-plus-study at Straits at Joo Chiat (Photo: Samuel Isaac Chua/EdgeProp Singapore)

"Buyers are faced with more choices today," he says. "They are more discerning and need more time to commit to a purchase."

The units at Straits at Joo Chiat are targeted at families and range from three- to five-bedrooms. Three-bedroom-plus-study units are sized from 990 sq ft, and three-bedroom-plus-guest from 1,044 sq ft. Four-bedroom units are sized from 1,227 sq ft, while five-bedroom units are 1,453 sq ft. There are four units of each type on every floor.

A redevelopment of a pair of semi-detached houses at Joo Chiat Place in prime District 15, Straits at Joo Chiat is a Peranakan-themed, freehold five-storey condo with a mix of three- to five-bedroom units.

Scale model of the five-storey, 16 unit Straits at Joo Chiat (Photo: Samuel Isaac Chua/EdgeProp Singapore)

Three units were sold at the 16-unit, freehold Straits at Joo Chiat by Roxy-Pacific Holdings (Source: EdgeProp Landlens)

"Buyers were attracted by the unique theme of Straits at Joo Chiat - a contemporary expression of the Peranakan through a unique blend of Chinese, Malay, and European design elements," says Mark Yip, CEO of Huttons Asia. "The regular layout of the units, the good-sized bedrooms and price point of around $2 million for a freehold project were also attractive to buyers."

Artist's impression of the 21-unit, 999-year leasehold boutique development Jansen House on Jansen Road by Macly Group (Picture: Macly Group)

Last weekend (May 4-5) saw the launch of another boutique development, the 21-unit Jansen House by niche developer Macly Group. Located on Jansen Road, the project is situated in the Kovan and Serangoon neighbourhood of District 19.

Macly Group offered a 15% early bird discount on the launch weekend of Jansen House, with prices starting from $1,940 psf. Two-bedroom units had prices from $1.499 million, three-bedrooms were upwards of $1.99 million, and four-bedrooms from $2.442 million.

Based on caveats lodged, two units were sold at the 999-year leasehold Jansen House: a 721 sq ft, two-bedroom unit for $1.53 million ($2,121 psf); and a 1,335 sq ft, four-bedroom unit for $2.8 million ($2,098 psf).

Two units out of 21 were sold at Jansen House last weekend, with a two-bedroom unit fetching $1.53 million ($2,121 psf) and a four-bedroom unit sold for $2.8 million ($2,098 psf) [Source: EdgeProp Landlens]

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