Wednesday, November 25, 2009

Marina Bay Suites sells fast; let the good times roll

As posted in www.h88.com.sg on 25 Nov 2009 by Francis

We are getting some unconfirmed reports on the ground that Marina Bay Suites is moving fast and that there is quite a crowd at the sales gallery.

The prices were lower than expected and start from ~$18xx psf. Units on the lower floors were released first, although it seems more have been made available due to good response. It seems at least one stack was said to have been sold out by mid afternoon.

If the good times keep rolling for the rest of the day, we expect around half a billion dollars or more to have exchange hands on paper at the Marina Bay today.

Some property enthusiasts online have even compared this 'feeling' with the 2007 bull run, which started at the same place in late 2006.

So the much awaited Marina Bay Suites which was held back for a year or two will finally preview tomorrow.

Word on the street is that this launch is very closely watched by key industry players, as sales performance for this project will be regarded as a forward indicator for next year’s luxury market sentiment.

Another reason why this project is so important is because the high prices would set new benchmarks for projects nearby such as The Sail, Marina Bay Residences and One Shenton. From what we heard - Marina Bay Suites is being marketed as a luxury project a few notches above other projects in the immediate area. Guesstimated price? Anywhere from $2,XXX - $3,XXX psf.

Here is the schedule of the preview event tomorrow 25 Nov 2009 (Wednesday):

  • 9am to 10:30am – Developer’s Staff preview
  • 10am to 10:30am - Developer’s VVIP
  • 10:30am to 12pm – Agency’s VIP (those who has submitted cheque)
  • 12pm onwards – Guests

Location:
2nd Floor Link Bridge between One Raffles Place (ORQ) and The Sail at Marina Bay.
Registration for VIP and Guests at 1st level of ORQ Atrium near the escalator.

Looking at the tight timing from 9am to 12pm, it seems that the developers are either very confident of the crowd tomorrow or are using pressure cooker sales tactics – making everything seem so hot by squeezing in as many people as possible in the shortest time…

How do you buy a home in 30mins? I don’t know.

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