Over the weekend, 77 units of the 107-unit freehold strata landed housing the Belgravia Ace sold, bringing the total number of sold apartments to 77.
The development consists of 104 semi-detached houses & 3 terrace houses, with 85 units having been made available for purchase thus far in the process.
Located on a freehold property at Belgravia Drive, just off Ang Mo Kio Avenue 5, it is being built by Fairview Developments, a joint venture between Tong Eng Group & Yeap Holdings. Fairview Developments is a joint venture between Tong Eng and Yeap Holdings.
According to a survey by EdgeProp, two of the three terrace houses sold for an average price of more than $4 million, while the majority of the semi-detached properties went for between $4.3 million & $4.6 million.
“The strong demand for reasonably priced landed homes is largely unaffected by the cooling measures because the buyers are predominantly Singaporeans who can avoid paying the ABSD (additional buyer’s stamp duty) if they are purchasing their only residential property,” said Mr Nicholas Mak, head of research and consultancy at ERA. “The cooling measures have had little impact on the demand for reasonably priced landed homes,” he added.
“Aside from that, fresh supply of landed residences of all sorts is restricted at the moment. In addition, the landed home market is not reliant on international demand. As a result, the success of the landed home market does not necessarily correspond to that of the condominium market in terms of sales.”
Due to its central location in District 28, Belgravia Ace is only a 20-minute drive from Orchard Road, Marina Bay Sands, and the Central Business District. It is also near to educational institutions like as Ai Tong School, as well as local commercial complexes such as Seletar Mall & Greenwich V. It is also convenient to public transportation.