By Andrew Batt: The first post-new-cooling-measures property from Thailand to exhibit in Singapore attracted strong interest at its soft pre-launch event last weekend, with further sales predicted at its follow-up event this weekend.
Singapore agency Trillion reported 10 sales last week for units at TC Green (pictured) in the hours immediately after the introduction of the latest round of measures which are aimed at cooling the local property market. It is predicting even higher levels of interest at its launch event this weekend, which will take place on Saturday and Sunday at Hilton Hotel, Level 5, between 10am and 6pm.
Michael Chan, Division Director, Trillion Property, told PropertyGuru: "Following the latest round of cooling measures in Singapore, many investors will take a pause and look at other property investment alternatives, particularly foreign projects which has been attracting much attention over the past 2 to 3 years."
Echoing comments from several market watchers, Chan added: "I believe the cooling measures will continue to spur buyers' interest towards other overseas investment hotspots such as Bangkok which Singaporeans are very familiar with. With its close proximity to the improved transport system, TC Green will be a favourite choice among buyers."
The TC Green freehold project, being developed by TianCheng International Property (Thailand) is the company's first mixed-use development. The 'Green' part of the project's title refers to the efforts being made to save energy and reduce the carbon footprint at every stage of development.
The location, on Rama 9 road in Bangkok, enjoys strong transport links to expressways, the airport link and the capital's MRT underground public transport network.
When completed, the project will boast 1,600 residential units in two, 32-storey towers. Some 958 units will form part of phase one which will be completed later this year, with sizes ranging from 30 sq m upwards to 60 sq m.
A 2,000 sq m central courtyard will provide a sizeable relaxation space, while other amenities include a fitness centre, swimming pool, restaurants, cafes, beauty salons, laundry room and supermarkets. The project will also include 16 retail spaces.
The company's 'build-first, sell later' approach has helped to increase buyers' confidence, and this was apparent from the 10 sales confirmed by Trillion at its pre-launch event last weekend.
TC Green has also enjoyed strong sales in Thailand. Some 16 units alone were sold at Bangkok property exhibitions organised by DDProperty.com, the market-leading property website in Thailand and part of PropertyGuru Group.
The developer also gathered significant leads from Singaporean property buyers and investors at the first ever Thailand multi-developer property showcase event that was organised by PropertyGuru and took place in the city state late last year.
Earlier this week, PropertyGuru predicted that last week's property cooling measures will make overseas property investments an even more attractive option for Singaporean property buyers. Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email firstname.lastname@example.org Related Stories: Singapore sales start for Battersea Power StationUK investments do not end with London
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