Cuscaden Reserve sold 45 units by private placement; prices started from $2,823 per sqft.
Cuscaden Reserve luxury condo was successfully relaunched and 45 out of 79 units were sold by private placement on March 16, 57 percent being completed sales by this method.
Over 80 cheques were collected as expressions of interest during the two-week preview that started March 2.
Units sold were predominantly two-bedroom types, starting at an initial sale price of $2.292 million or $2,823 per square foot. There was only one three-bedroom sold.
Huttons Data Analytics’ internal data shows that one-third of buyers at Cuscaden Reserve were under 35. According to Hutton Asia CEO, many buyers were either Singaporeans or permanent residents buying their first property and that this represented both own-stay buyers as well as investment buyers.
Strong sales were attributable to joint developers SC Global, New World Development, and Far East Consortium offering discounted selling prices of up to 20% below market.
Attracting buyers was easy thanks to an attractive asking price of approximately $2.4 Million for two-bedroom units located in desirable locales and offering prestige addresses. These factors attracted intense buyer enthusiasm.
Cuscaden Reserve, located on Cuscaden Road near Orchard Boulevard and completed in August 2023, features 192 luxury condo units.
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Cuscaden Reserve’s typical units consist of one-, two- and three-bedroom apartments that range in size from 700 square feet to 1,163 square feet. There are six 2,099-sq-ft four-bedroom apartments located from 21st to 26th floors; they were reconfigured from two and three bedroom apartments on these floors; additionally there is one duplex penthouse which spans 27th and 28th floors spanning 3,755 sq ft in area.
Before the relaunch, 12 units had sold at an average price of $3,625 psf, including caveats lodged. Now with additional 45 sold, take-up rate has increased significantly to about 30% (57 units total).
Cuscaden Reserve will sell any remaining units on a “first come, first served” basis.
