Victoria Park Villas Showflat reopened in May 2017, when the property market show more positive signs. This is one of the most highly sought-after landed housing project by CapitaLand in prime District 10.
On Saturday (20th May), Capitaland launched 31 semi-detached luxurious units of garden villas. All units of 4,176 sqft - 4,327 sqft with the facing to Coronation Road were sold at the price range of $3.85 million to $4.5 million.
These are ‘Star-Buy’ units offered at promotional PRICING, a CapitaLand spokesperson told PropertyGuru. It comes out Favourable Pricing in comparison with the official launch last year, when a smaller garden villa of 4,166 sq ft was priced at a higher price ($4.4 million).
There are only three bungalows and six semi-detached pool villas at Victoria Park Villas. Most of 109 units (approximately 90 percentage) come among garden villas. The project will obtain its TOP in 2018. Capitaland spokesperson revealed that till date there have been 21 units of the 30 launched semi-detached units were sold.
Victoria Park Villas is the first landed residential site under the Government Land Sales (GLS) was awarded since 1996 in District 10. An it is also the first landed housing property that has been integrated with The Smart Home System including motion sensors, CCTV as well as the option of remote home monitoring via a mobile app.
Ong Kah Seng, The R’ST Research Direct said that there is no surprise with the reopening of this project as the market sentiment was less while Victoria Park Villas shows more impressive and comprehensive references for the buyers.
In recent years, the disappointed property market conditions lead to the weak demand that explained why is most of buyers of landed houses have been on the sidelines. However, Mr.Ong predicted sales activity would be in the increase because the interest is mainly dependent on whether the price is acttractive and afforable.
He takes note that in 2018, the landed home price could raise up to 3 percent and the homes in central region could exceed the average expected price increase.
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