The Continuum, an 816-unit freehold condominium in District 15, had a strong showing over its launch weekend of May 6-7, with 216 units (26.5%) sold at an average price of $2,732 psf. Mark Yip, CEO of Huttons Asia, commented that despite the recent cooling measures and cloudy economic outlook, this was a good turnout.

Prior to launch, the development attracted over 500 expressions of interest, leading to a conversion rate of nearly 40%. Koon Wai Leong, general manager of Hoi Hup Realty, said the success of The Continuum is due to its beautiful design and freehold tenure.

At the 275-unit Blossoms By The Park, a freehold condominium located in one-north, the developer collected 745 cheques before launch and enjoyed a conversion rate of over 28%. The average price of units sold was $2,423 psf.

Ken Low, managing partner of SRI noted that the conversion rate at The Continuum is higher than the 20% to 30% average at most launches.

Aimed at offering greater convenience to its upcoming residents, the project will feature a mix of commercial, business, and leisure elements including a food court, a café, a retail mall and a childcare centre.

Once completed, JCube Residence Condo stands to benefit from its close proximity to numerous amenities such as Ng Teng Feng Hospital, Jurong East MRT Station, IMM, Westgate and Jem. It also enjoys direct access to major arterial roads for convenient traveling. Situated at the upper floors of the development are up to 40-storeys of residential units which cater to both investors and homeowners alike. The addition of such a development promises to be a welcomed opportunity for those looking for an attractive investment opportunity.

The larger units at The Continuum were more popular with homebuyers, with two-bedroom types accounting for 62% of sales (from $1.67 million) and three-bedroom units making up 29% of sales (from $2.306 million). Even the four-bedroom units saw 15 units sold at prices starting from $3.312 million.

Ismail Gafoor, CEO of PropNex, said the lack of one-bedroom unit sales (less than a handful sold at launch) is due to investors preferring 99-year leasehold condominiums due to their lower quantum price. PropNex’s sales team handled about 100 of the 211 units sold, of which 90% were bought by Singaporeans and 10% by Singapore Permanent Residents (PRs).

Marcus Chu, CEO of ERA Realty Network, commented on the advantage of a large-scale development like The Continuum, which is likely to attract higher prices in the secondary market due to higher visibility and increased resale demand.

The Continuum will have 408 units sitting on two freehold plots linked by a bridge and is located just off Haig Road and Tanjong Katong Road. It is almost 20 years since a freehold development of this size (over 200,000 sq ft) has been launched in the Katong area, with the last such project being Haig Court in 2004.

The next launch in District 15 is the 99-year leasehold, Grand Dunman by SingHaiyi Group, which will have 1,008 units and is scheduled for 3Q223. In the past 16 months, the average transacted price of freehold non-landed private properties in District 15 sold by developers was $2,368 psf, according to Mogul.sg’s chief research officer, Nicholas Mak.