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New Condo Stars Of Kovan Sold 60 Units At Lower Than Indicative Prices

Fizah Hatman
Updated

This article was originally on GET.com at: New Condo Stars Of Kovan Sold 60 Units At Lower Than Indicative Prices

During the VIP pre-sale last weekend for Stars Of Kovan, a newly launched condo in Singapore, 60 units were sold at a lower per square foot (psf) average price of $1,408 than the previously indicated $1,417 per psf, according to The Business Times.

The developer of the project, Cheung Kong Property Holdings, released an average psf of $1,417 on Friday which included a VIP discount package, lower than the original indicative price of $1,550 to $1,600 per psf. A part of the VIP discount package is a 5% discount which will be extended until 29 May 2016, however it can be ceased by the developer at their discretion.

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The price of the units sold range from $666,400 to $1,412,600, with one to three bedroom units ranging between $1,227 to $1,554 psf. The project attracted a mixture of long-term investors and upgraders, with 70% of them being the latter.

Stars of Kovan is a mixed development project comprising 395 residential units of which 390 are apartment units and the other 5 being strata terraces, and 46 commercial units.

Stars of Kovan is located near Upper Serangoon Road and Tampines Road, with the nearest MRT station being Kovan.

Keen To Find A Property?

If you’re looking to buy a property, now might be a good time since 60% of developers foresee residential prices to drop. We’ve also recently reported that rental prices for condo and HDB flats are also down if renting an apartment is an option for you.

Interested to get a home loan? Comparing the different loans couldn’t get any easier with a home loan comparison site like GET.com.

If you’re thinking of refinancing your home loan, don’t forget to check out these 4 things you can consider when comparing home loans.

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