Over a single weekend in August, close to 90 per cent of the apartments in a 36-storey condominium in Singapore’s upscale River Valley were sold — even though the site is not expected to be completed for four years.
With prices ranging from S$1.2mn ($900,000) to S$3.5mn for one-to four-bedroom flats, buyers were drawn to the development’s riverside views, 50-metre pool, clubhouse and gym.
More than 900 off-plan apartments were sold overall in Singapore that weekend. New home sales hit a nine-month high in August, despite a series of government efforts to cool the booming property sector.
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