Saturday, April 24, 2010

Update: Tree House is doing very very well

We told you it was going to be HOT. We have news that CDL's Tree House has SOLD OUT all its 2BR and 2+1BR units. Prices for this Chestnut Avenue development are in the $780-$900 psf range. Going by this photo below, there's a huge demand for this mass market condo.


Just look at the crowd. This is a Thursday morning! Don't these folk have to work? Image from tipster C. Wong.

You'd think it's some grassroots event or some big-shot's wedding! This is not even the showflat. This is the balloting area where potential buyers are waiting for their name to be called. The showflat is next door on the right!

There aren't many mass market units around this year so as expected there's plenty of pent-up demand.

Prices
According to our sources:
2BRs - $850-$900psf, around $610k to $640k.
2+1BRs -$850-900psf, around $680k to $770k.
3BRs - $800-900psf. around $900-$1000k.
3+1BR - A 16th floor, 1,227 sqft unit in Stack01 is going at $1.033m or $841psf.
4BRs - ranging from $770-780 psf.

It seems that analysts are spot on with their price prediction mentioned in our initial Tree House Preview.

Just quickly to recap:
Nearby Cashew Heights (999 yr, TOP92) caveats from Jan to Mar 2010 are at an average of $708psf. Glendale Park (FH, TOP2000) Jan 2010 caveats averaged $701 psf while Hillview Heights (FH, TOP96) Jan - Mar 2010 averaged $715psf.

Showroom is still open. You better make your way there if you want a piece of the action!

Image: Brochure.

As posted in h88.com.sg by John

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