Serious New Condo In AMK 98% Sold On Day 1 Launch! Mostly Owner-Owned! Buying Price Of $1900 psf! Majulah PAP!

[JohnTan]

SINGAPORE - AMO Residence, a joint private residential project between developers UOL Group, Singapore Land Group and Kheng Leong Company, sold over 98 per cent of units during its launch on Saturday (July 23).

A total of 365 units of the 372-unit Ang Mo Kio development was sold on the first day, leaving just seven unsold units.

Mr Anson Lim, UOL general manager of residential marketing, said demand was strong as AMO Residence is the first major private residential project in the mature housing estate of Ang Mo Kio in more than eight years.

Buyers were primarily local home buyers with several families buying mutiple units so that they can reside in the same vicinity, Mr Lim said.

"They are mostly owner-occupiers, and based on what we observed, they are particularly attracted to the project's proximity to Mayflower MRT station, popular schools, lush parks and shopping malls."

The 99-year leasehold development at Ang Mo Kio Rise comprises two- to five-bedroom units ranging from 614 sq ft to 1,475 sq ft, as well as three penthouses of 2,293 sq ft to 2,497 sq ft.

Units are priced from $1,890 psf, with a two-bedroom unit starting from $1.26 million.

The strong demand comes despite a string of property cooling measures announced in Dec 2021 and higher interest rates for mortgages.

All three local banks this month raised their rates for home loans, with rates for two and three-year fixed packages now starting at 2.75 per cent. Home loan rates have been steadily rising since the fourth quarter of last year, when three-year fixed deals were at 1.15 per cent.

This comes after the US Federal Reserve raised its interest rate in May to cool rising inflation.

Data released by the Urban Redevelopment Authority on Friday showed an increase in private non-landed home prices, which rose 3.6 per cent in the second quarter compared to the first.

This was due to higher prices at Piccadilly Grand in Northumberland Road, which sold 324 units at a median price of $2,175 per sq ft in the second quarter, and Liv@MB in Mountbatten, which sold 231 units at a median price of $2,408 psf in the same period.

https://www.straitstimes.com/busine...ng-mo-kio-over-98-sold-on-first-day-of-launch

 

[sweetiepie]

View attachment 153473

SINGAPORE - AMO Residence, a joint private residential project between developers UOL Group, Singapore Land Group and Kheng Leong Company, sold over 98 per cent of units during its launch on Saturday (July 23).

A total of 365 units of the 372-unit Ang Mo Kio development was sold on the first day, leaving just seven unsold units.

Mr Anson Lim, UOL general manager of residential marketing, said demand was strong as AMO Residence is the first major private residential project in the mature housing estate of Ang Mo Kio in more than eight years.

Buyers were primarily local home buyers with several families buying mutiple units so that they can reside in the same vicinity, Mr Lim said.

"They are mostly owner-occupiers, and based on what we observed, they are particularly attracted to the project's proximity to Mayflower MRT station, popular schools, lush parks and shopping malls."

The 99-year leasehold development at Ang Mo Kio Rise comprises two- to five-bedroom units ranging from 614 sq ft to 1,475 sq ft, as well as three penthouses of 2,293 sq ft to 2,497 sq ft.

Units are priced from $1,890 psf, with a two-bedroom unit starting from $1.26 million.

The strong demand comes despite a string of property cooling measures announced in Dec 2021 and higher interest rates for mortgages.

All three local banks this month raised their rates for home loans, with rates for two and three-year fixed packages now starting at 2.75 per cent. Home loan rates have been steadily rising since the fourth quarter of last year, when three-year fixed deals were at 1.15 per cent.

This comes after the US Federal Reserve raised its interest rate in May to cool rising inflation.

Data released by the Urban Redevelopment Authority on Friday showed an increase in private non-landed home prices, which rose 3.6 per cent in the second quarter compared to the first.

This was due to higher prices at Piccadilly Grand in Northumberland Road, which sold 324 units at a median price of $2,175 per sq ft in the second quarter, and Liv@MB in Mountbatten, which sold 231 units at a median price of $2,408 psf in the same period.

https://www.straitstimes.com/busine...ng-mo-kio-over-98-sold-on-first-day-of-launch

Take a closer look mostlee are the lao jibyes gansiokbin the jurong east investors kind.

 

[JohnTan]

Take a closer look mostlee are the lao jibyes gansiokbin the jurong east investors kind.

There are lots of good schools in the AMK area. Also, there was a recent SERS program in the neighbourhood. There's healthy demand and a lot of residents flushed with cash from their SERS payouts.

 

[Loofydralb]

Mostly new rich immigrants. PAP never takes care of its own citizens.

 

[mahjongking]

all the jobs above 7k taken by Cecas lah
FUCK PAP

 

[countryman]

In the near future, all private properties brand new or sub sale will be priced from 2000psf upwards...

 

[laksaboy]

Sometimes you can't help but wonder if it's a newspaper or a real estate newsletter.

 

[SBFNews]

Sometimes you can't help but wonder if it's a newspaper or a real estate newsletter.

When these clowns lose their jobs, see how they die. Why bother.

 

[bushtucker]

Banks are so happy to lend $ to these suckers, what with the growing interest rates and uncontrolled inflation.

 

[JohnTan]

Mostly new rich immigrants. PAP never takes care of its own citizens.

You sure?

The median sinkie household earns about $9400 per month. That's much higher than what ASEAN families earn.

 

[laksaboy]

It's not really near any hawker centre or mall, and it's actually closer to Upper Thomson Road.

 

[realDonaldTrump]

Banks are so happy to lend $ to these suckers, what with the growing interest rates and uncontrolled inflation.

They buy because initial period, BUC units got nothing much to pay for instalments. It's a form of speculation and good if the construction takes three years.

 

[mudhatter]

unmitigated money laundering might result in a property bubble.

I wouldn't advise anybody outside stinkypura to touch any stinkypura asset with a barge pole.

Bubble waiting to pop.

 

[JohnTan]

unmitigated money laundering might result in a property bubble.

I wouldn't advise anybody outside stinkypura to touch any stinkypura asset with a barge pole.

Bubble waiting to pop.

Oppies have been saying that for decades. Yet our property prices continue to rise! Majulah PAP!

 

[CPTMiller]

Oppies have been saying that for decades. Yet our property prices continue to rise! Majulah PAP!

Yes. My friend own a million value HDB and planning to get cash loan from bank using his flat thereafter to start a business. This he become towkay soon. He thank you Mr Lee making him.a millionaire.

 

[syed putra]

Its a lot cheaper KL. You can choose TRX, klcc or pavilion all freehold for much less.that is city centre living with shopping, nightlife, mrt in walking distance.

 

[batman1]

Sometimes you can't help but wonder if it's a newspaper or a real estate newsletter.

Advertising gimmicks.

 

[red amoeba]

AMK support LHL ward.

 

[congo9]

Its a lot cheaper KL. You can choose TRX, klcc or pavilion all freehold for much less.that is city centre living with shopping, nightlife, mrt in walking distance.

KL has it's own set of issue.
Most importantly the unending jam on the roads, floods and safety issue on the streets.

Whereas Singapore, you can show off your favorite sports car, wear your million dollar watch to show off, go for long walks in nature feeling safe.

That you can't find in KL.

 

[Loofydralb]

Oppies have been saying that for decades. Yet our property prices continue to rise! Majulah PAP!

PAP prevented the bubble collapsing by importing bodies into Sg. The moment that stops, Sg turns into a slum with recession.

So if you think a population target is 10 million, I will remind you that PAP is lying.

It's basically a forever exponentially moving target. My prediction is 20 million by 2060.