70 % units snaped by buyers soon after the showflat preview of The Tapestry

Around 70 % or as it was recorded, 315 units of the 450 units released were snapped up by buyers over the last weekend. The average price PSF is $1,310.  The developer of the Tapestry, CDL (City Development) cheered this enthusiasm among buyers as a “good take-up rate” particularly the sale of one and two- bedroom units.

The 99-year leasehold property, the Tapestry in Tampines had a total of 861 units. More than 5000 visitors gathered on the first-weekend preview. At the launch of the project on 24th March 2018, the early bid  started from  $596,000 for a one-bedroom, $796,000 for a two-bedroom, ,$1.15 million for a three-bedroom, $1.65 million for a four-bedroom  and $2.1 million for a five-bedroom, a dual key with study apartment (1,765 sq ft). The remaining 411 units will be released progressively.

According to the report generated from the management of CDL, 76% of the buyers from the first launch were citizens of Singapore itself and the remaining 24% were permanent residents and foreigners from various other countries like India, China, Malaysia, Indonesia and Hong Kong.

Talking about the project, the 99 years leasehold Tapestry is developed by CDL (  City Developers Limited ) after outbidding 9 other bidders for the plot of land at Tampines Avenue 10. The top bid submitted by CDL was S$370.1 million. As declared earlier, The Tapestry will have seven 15- story blocks and includes a 100m infinity pool, a tennis court, children care center and a pavilion for pets. Also, the resident of this new launch property will enjoy modern day facilities, like voice app to control various home appliances.

The Tapestry which is located in Tampines Street 86 is developed by CDL’s own subsidiary, Bellevue Properties. Just across the road from The Tapestry is the Alps Residences, developed by the Chinese developer MCC Land. According to report the 25 unit left for sale out of the 626 units of the  Alps Residences.

This project is the “first premium suburban condominium" of its kind in Singapore. CDL (City Developers Limited) group General Manager Chia Ngiang Hong quoted that this new launch project at such attractive price will be a great option for new home buyers and property investors.

Also, the management had received strong inquiries from buyers, upgraders and property investors indicating the positive market sentiment for new launch properties in Singapore, among buyers.

New Launch Property March 27, 2018

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