Landed housing project Belgravia Ace about 72% sold

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SOME 77 units of the 107-unit freehold strata landed housing project Belgravia Ace were sold over the weekend.

The development comprises 104 semi-detached houses and 3 terrace houses, with 85 units being released for sale so far. It sits on a 290,520 square foot, freehold plot on Belgravia Drive and is developed by Fairview Developments, a joint venture between Tong Eng Group and Yeap Holdings.

Of the 3 terrace houses, 2 were sold at an average price above S$4 million while most of the semi-detached houses were sold at between S$4.3 million and S$4.6 million, said a report by EdgeProp.

“The strong demand for reasonably priced landed homes are largely unaffected by the cooling measures because the buyers are predominantly Singaporeans who can avoid paying the ABSD (additional buyer’s stamp duty) if they are buying their only residential property,” said Nicholas Mak, head of research and consultancy at ERA

“In addition, there’s limited new supply of all types of landed houses. Plus the landed housing market doesn’t depend on foreign demand. Hence, the sales performance of the landed housing market doesn’t necessarily mirror that in the condominium market,” he said.

Located in District 28, Belgravia Ace is a 20-minute drive to Orchard Road, Marina Bay Sands and the central business district area. It is also in close proximity to educational institutions like Ai Tong School and nearby shopping malls such as Seletar Mall and Greenwich V.

source : The Business Times
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