While the private sales are barely trying to get a better price on the market, the collective sales market is on fire. Right now we have the Mayfair Gardens that was snapped up by Oxley Holdings for around $311 million. This is quite an interesting purchase to be honest, and it can only get better, the serve price was around $256 million, and we can expect each one of the owners to get anywhere from $1.7 million to $2.89 million once the deal is made.
This private residential estate has 6 residential walk up blocks and the units go up to 200 square feet, which is quite an interesting experience to have. The total sale price seems to translate to something around the lines of $1244 for each square foot. It’s a very good price for this to be honest, and it goes to show just how amazing and fruitful the deals can be in this regard.
According to the Knight Frank executive director, the new development is set to have around 387 homes with an average of 70 square meters in size. This is a very good thing to keep in mind, and it does go to show the efficiency and value that’s offered by something like this.
One thing to state here is that the Oxley Holdings purchase isn’t the only collective sale. In fact, most collective sales are very hot right now because it seems that this is one of the best ways to sell properties in Singapore. It just goes to show that there are some amazing benefits here and in the end, it’s just a whole lot easier to purchase and sell properties in this manner.
Another thing to note here is that Oxley Holdings stated that the purchase will be funded via internal resources. They will also rely on bank borrowings too. But it’s still very nice to have such a deal made, it really helps a lot and everyone involved gets to benefit from it.
But in the end, it’s important to note that the collective sales continue to grow and the Oxley Holdings acquisition is one of the many important ones that you can find on the market right now. It’s a special one, true, but it’s also one that can end up bringing in a plethora of benefits on the market. So yes, it is something special and very powerful for the entire market.
http://www.straitstimes.com/business/property/mayfair-gardens-sold-en-bloc-to-oxley-holdings-for-311m/
Read more on the Mayfair Gardens en bloc from the link above
Some of the new launch condos that will be releasing for sale in upcoming 2018
- Shunfu Condo (From the En bloc of Shunfu Ville Estate)
- Margaret Drive Condo (GLS of land parcel at Margaret Drive)
- Woodleigh Condo (GLS of land parcel at Woodleigh Lane)
- Rivercove Residences EC (GLS of EC site at Anchorvale Lane)
Existing new launches
