CanningHill Piers has sold 538 (77%) of its 696 units, as of 6pm Sunday 21 November. Occupying the former site of Liang Court, the project at District 6 was launched just the day before on Saturday 20 November.
According to a joint statement by City Developments Limited (CDL) and CapitaLand Development (CDL), this makes CanningHill Piers the best-selling project launch in the Central Area this year.
Super penthouse sold for S$48 million
The units were sold at an average selling price of around S$3,000 psf, with a total sales value of over S$1.18 billion. This includes the 8,956 sq ft Super Penthouse sold for S$48 million (S$5,360 psf), S$2 million lower than the initial indicative price of S$50 million (S$5,583). It was also noted that selected stacks were fully sold.
81% of the buyers are Singaporeans, while the remaining 19% are permanent residents and foreigners, mainly from China, Malaysia, Indonesia, Australia, South Korea, US, UK and others. Notably, Singapore has lifted border restrictions for travellers coming from China, and has VTL arrangements with the other mentioned countries. On the other hand, the VTL with Malaysia and Indonesia would only start from 29 November onwards.
When completed in 2025, the 48-storey tower of CanningHill Piers will be the tallest residential project along the Singapore River. The project is part of an integrated development comprising CanningHill Square with F&B and retail outlets, a 475-room hotel under the Moxy brand by Marriott International and a 192-unit serviced residence under the Somerset brand of The Ascott Limited.
Looking at our Researcher data, prices of condos in District 6 have increased by 15.85% over the past 10 years. On the other hand, transactions were mainly for units at two projects, Eden Residences and One North Bridge.
What do you think of the robust sales of CanningHill Piers? Let us know in the comments section below or on our Facebook post.
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