26 May '14, 11am

Successful relaunch of The Panorama - Property Auctions News, Property Investment | PropertyGuru

The relaunch of The Panorama in Ang Mo Kio witnessed robust interest from buyers, after the developer cut prices by 12 percent, said media reports. Out of the 95 units released for balloting, Wheelock Properties sold 80 to 85 units as of 7:30pm last Friday, said Tan Tee Khoon, Executive Director of Residential Services at Knight Frank, the project’s marketing agent. The figure is notably more than the project's total sales registered since its initial launch in January when it moved 58 units, or just eight percent of the 698 units available, at an average price of $1,343 psf. By the end of April, URA data showed that the project sold 56 units, implying that buyers returned some of the units. Although there the sales breakdown for the relaunch was not available, agents revealed that one-bedroom and two-bedroom units emerged as the most popular. A price list showed that a 43...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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