CapitaLand successfully launched LyndenWoods, selling 324 of the 343 available units on the first day, which underscores the robust demand in the property market. This impressive sales figure, representing an occupancy rate of 94.5%, reflects a strong appetite for residential properties in the current climate. The launch day performance serves as a significant indicator of the market’s health, particularly in the context of the Science Park precinct, which is poised for future development.
The average price achieved for the units was approximately $2,450 per square foot, a figure that speaks to the premium nature of the development. Such pricing suggests that buyers perceive value in the project, likely due to its strategic location, design, and the amenities it offers. The swift uptake of units, particularly the full sale of all 137 two-bedroom and 45 three-bedroom units, points to a targeted appeal among potential homeowners and investors alike.
Despite the backdrop of an extended Sellers Stamp Duty (SSD) holding period, which typically dampens immediate buying enthusiasm, the successful launch of LyndenWoods highlights the resilience of the property market. The SSD, aimed at curbing speculation, has not deterred buyers from investing in the project, indicating a shift in sentiment where long-term value is prioritized over short-term gains. This trend may suggest that prospective buyers are increasingly confident about the stability and growth potential of the residential property sector.
The demand at LyndenWoods may also serve as a litmus test for housing demand within the Science Park precinct, which is undergoing significant transformation. With plans for further development in the area, including enhancements to infrastructure and amenities, the strong performance of LyndenWoods could signal a broader trend of interest in residential properties in this region.
As urbanization continues to shape the landscape, developments like LyndenWoods play a crucial role in meeting the needs of a growing population. The successful launch of LyndenWoods not only reflects current market conditions but also sets the stage for future projects in the pipeline.
Developers and investors alike will likely take note of the strong sales performance, viewing it as an encouraging sign for upcoming launches. The combination of location, pricing, and unit composition has evidently resonated with buyers, creating a robust demand that could influence market dynamics moving forward.
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News Source: Edgeprop
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