On May 7, property developer Hup Realty announced that over 26% of The Continuum‘s units were sold on launch day at an average price of S$2,732 per square foot. The Continuum houses 816 units in total and offers a range of one to five-bedroom apartments for buyers. The quick sales reflect confidence in the real estate market despite current economic uncertainties.
According to PropNex’s observations, the high take-up rate reflected a premium for the development due to its proximity to amenities such as schools and shopping centres. Buyers were also drawn in by the various bedroom types available. The nearby Tembusu Grand is also contributed to the investment demand for The Continuum.
Despite this hurdle, the higher take up rate indicates that more resale demand can be expected in the future and potentially lead to successively more resale transactions and profit returns for those who choose to invest in The Continuum.
Over 26% of The Continuum‘s private properties were sold on launch day at an average price of S$2,732 psf, surpassing the median transacted price for freehold non-landed properties in District 15 over the last 16 months. The developers have set a new benchmark in terms of sales and price level for comparable projects in the area. The past 16 months saw a spike in transacted housing units by foreigners, especially from China, who accounted for over 40% of transactions. The Continuum project is located in a highly sought-after location and offers luxurious amenities to its residents.