Brisk sales at Otto Place EC have marked a significant achievement for developer Hoi Hup-Sunway, with 58.5% of its units sold at an average price of $1,700 per square foot. This performance highlights a robust demand for the project, particularly among HDB upgraders, who are drawn to the flexibility offered by the Deferred Payment Scheme (DPS). This financial structure allows buyers to alleviate their monetary burdens during the construction phase, making the prospect of upgrading more attainable for many families.
The sales figures reveal a clear trend towards larger living spaces, with over 70% of three and four-bedroom units already sold. The pricing for these larger units reflects their desirability, with three-bedroom units priced at approximately $1.41 million, translating to $1,617 per square foot, while four-bedroom units command a higher price point of about $2.18 million or $1,824 per square foot. This inclination towards more spacious accommodations underscores the evolving preferences of homebuyers who prioritize comfort and family living.
Otto Place is strategically situated in the eco-friendly Plantation District of Tengah, an area recognized for its sustainable development initiatives. This location is a significant draw for potential residents, given its proximity to two MRT stations, facilitating easy commutes to other parts of Singapore. Additionally, the project’s favorable location within 1 kilometer of a highly sought-after primary school further enhances its appeal, particularly to families looking to secure quality education for their children.
The positive reception of Otto Place’s sales is reflective of the broader market dynamics in the region. Following the successful launch of Novo Place EC, which sold 286 units, equating to 57% of its inventory on the first day, there is evident strong market interest in the area. This trend indicates that potential buyers are actively seeking residential options that align with their lifestyle needs and preferences.
The combination of strategic location, attractive pricing, and appealing unit layouts has positioned Otto Place EC as a highly desirable development in Tengah. The project’s appeal extends beyond just the physical attributes, as the financial incentives provided by the Deferred Payment Scheme make it an attractive proposition for those looking to upgrade from HDB flats.
NEW CONDO LAUNCH: DOVER RESIDENCE
Dover Residence is an exciting new condominium launch in the Dover area, designed to cater to families and professionals.
With various unit types ranging from one to four bedrooms, the Dover Residence project offers modern amenities such as a swimming pool and gym, ensuring a vibrant lifestyle for residents.
The competitive Dover Residence pricing aligns with current market trends, making it an attractive option for buyers.
To explore the Dover Residence floor plan and site plan, or to view available units, “View Dover Residence Condo ShowFlat & Get VVIP Discount.
Register or contact 6100 8822 to book showflat appointment.”
News Source: Edgeprop
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