Liv @ MB condo in Mountbatten sells over 75% of units

by Albert02

Liv @ MB condo in Mountbatten sells over 75% of units

Liv @ MB condo in Mountbatten sells over 75% of units. Liv @ MB, a Bukit Sembawang Estates condominium project in Mountbatten, has sold more than 75 percent of its 298 units at an average selling price of $2,387 per square foot (psf).

According to a statement issued by Bukit Sembawang on Sunday, more than 90% of buyers were Singaporeans who lived nearby (May 22).

Liv @ MB, which opened on Arthur Road on Saturday (May 21), is a 99-year leasehold project with units spread across four blocks.

It is a three-minute walk from the future Katong Park MRT station and sits on 140,000 square feet of land, with 80 percent dedicated to recreational facilities and lush landscaping.

The project went on display on May 6, with prices ranging from $1.08 million for a one-bedroom unit to $3.63 million for a four-bedroom deluxe unit.

The prices ranged from $2,190 psf for one-bedroom units (from 495 square feet), $2,292 psf for two-bedroom units (from 624 square feet), and $2,288 psf for two-bedroom deluxe (from 753 square feet) to $2,080 psf for three-bedroom units (from 1,119 sq ft).

The four-bedroom units start on the 12th floor, with preliminary pricing ranging from $2,233 per square foot (from 1,518 sq ft) to $2,177 per square foot for the deluxe version (from 1,668 sq ft).

“Another major project launch in 2022 has achieved more than 70% sales on launch day,” said Huttons Asia CEO Mark Yip. This is truly remarkable in light of December 2021 cooling measures, rising interest rates, rising inflation, and global uncertainties.

“Regardless of government interventions in the housing segment, the market believes that today’s pricing is acceptable, despite the fact that construction costs have risen significantly,” he added.

Piccadilly Grand, the first major private residential development to hit the market following the implementation of cooling measures, sold 77 percent of its units during its first weekend on the market earlier this month.

The average selling price for the joint residential project by City Developments and MCL Land was $2,150 per square foot.

“We anticipate that the positive sentiments from Piccadilly Grand and Liv @ MB will spread to other project launches in the coming months,” said Mr Lee Sze Teck, senior director of research at Huttons.  One upcoming new launch to take note is AMO Residence.

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Source:
https://www.straitstimes.com/business/property/liv-mb-condo-in-mountbatten-sells-over-75-of-units-on-launch-weekend

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