Close to 7,000 visitors thronged the display room of what is proclaimed to be the biggest exclusive condo launched in Singapore, with over 2,200 units readied to take place sale. Launched on Friday (March 15), Treasure at Tampines sits on top of the former Tampines Court, a Real Estate as well as Urban Advancement Business (HUDC) building which was offered en bloc for S$ 970 million in August 2017.
Created jointly by Sim Lian Team and also Sim Lian Holdings, the condo covers 650,000 sqf as well as has a 99-year lease starting from Nov 29 in 2015. It is anticipated to be ready for purchasers to move in by 2023. The condominium makes up one- to five-bedroom units, with sizes ranging from 463 sqf to 1,722 sqf. With a measure cost of S$ 585,000 for a one-bedroom unit as well as a minimum of S$ 1.88 million for a five-bedder, its developer said the condo is priced at concerning S$ 1,280 psf usually.
ZACD Group exec director Nicholas Mak claimed the prices is “fairly reasonable” as it is within the variety of a brand-new 99-year leasehold private condo in that area. Among some of the interested house buyers TODAY spoke with while checking out the display room, a couple of have currently set their minds on purchasing a unit. Mr Triston Tan, 47, said he has currently submitted a cheque to suggest his rate of interest in a two-bedroom unit which he means to acquire as an investment.
The equipment engineer and his wife, Ms Catherine Teo, 47, live in a five-room Real estate and Development Board (HDB) flat in Tampines and have no objective to offer it. This means they would have to pay a 12 per cent Added Buyer’s Stamp Task (ABSD), which is imposed on buyers obtaining a 2nd property.