North Gaia EC sees 3,700 visitors on preview weekend
SINGAPORE (EDGEPROP) – The initial executive condominium (EC) of 2022, North Gaia, opened its sales gallery and also showflats for public view last weekend break. The sales gallery at Canberra Link attracted about 2,000 guests by the close of Saturday, and one more 1,700 on Sunday. This brings the tally of people over the weekend of April 9-10 to 3,700.
The easing of the secure monitoring procedures allowing a maximum capacity of 1,000 guests in a builder’s task sales gallery was “timely”, notes Ken Low, managing partner of SRI. “It accommodates the rising need for EC as well as the strong features of North Gaia,” he states.
Like Provence Residence and Parc Greenwich, North Gaia lies in the northern area. What’s even more, the last new launch of an EC task in Yishun remained in 2015, says Mark Yip, CEO of Huttons Asia. “Buyers are therefore anxious to see what the initial EC launch in 2022 is using,” he adds.
” The last time we saw such groups was 3 years back in the pre-Covid period,” says Doris Ong, deputy chief executive officer of ERA Singapore. “A lot of people have not seen showflats in a long period of time,” she includes.
The relaxation of risk-free administration steps for builders’ sales galleries has permitted even more potential buyers to watch the showflats. At North Gaia, viewings were still conducted by-appointment solely. This was done to make sure the safety of visitors, states Sharlin Tan, head of marketing and sales at Sing Holdings. “Checking out visits were established at numerous periods to give us moment to sanitise the sales gallery,” she clarifies.
The 616-unit North Gaia at Yishun Close opened for e-application on April 7, and also will be released for sale on April 23. “We are very encouraged by the strong involvement in our task,” remarks Lee Sze Hao, Chief Executive Officer of Sing Holdings, the property developer of North Gaia.
Limited supply is an additional reason, with fewer than 15 units left unsold from the existing stock, mentions Gafoor. There are just two EC projects that have remnant units for sale. The 413-unit Provence Residence at Canberra Crescent, which was launched in May last year, has just three unsold units. At Parc Greenwich on Fernvale Lane in Seletar Hills, just 10 of the 496 units in the EC property stay unsold.
Ismail Gafoor, CEO of PropNex does not see the solid yield as “revenge building acquiring” in the wake of the easing of constraints. “We understood this was going to be the hottest-selling job of 2022,” he says. “With the most up to date EC land bids going across $660 psf per plot ratio, the upcoming jobs will be gone for higher prices. We therefore assume strong interest as a result of bottled-up need for ECs.”