Novo Place Hits 881 137 Units Snapped Second Balloting
On Dec 16, Hoi Hup Realty and Sunway Developments, the joint venture developers of Novo Place executive condominium (EC), successfully sold 137 units during the second round of balloting. This phase was exclusively open to second-timers, which refers to buyers who have previously purchased a subsidized flat, whether as a new or resale HDB flat or an EC.
According to Mark Yip, CEO of Huttons Asia, the sale of these 137 units brings the total sold at Novo Place to 444 units, which represents 88.1% of the development. Yip also mentions that this achievement was reached within just one month of its launch on Nov 16, making it the best-selling EC project of 2024 so far.
“This shows strong interest from second-timers who are eager to upgrade their lifestyle,” Yip points out. “Many of the buyers reside in the West.”
For those interested in comprehensive information about all ECs, including the average profit at 5 and 10 years, it is available for exploration.
Yip further observes that all four-bedroom units at Novo Place have been sold out, indicating the high demand for spacious homes. The showflat of a four-bedroom-plus-study unit at Novo Place (Photo: Samuel Isaac Chua/EdgeProp Singapore) serves as a testament to this.
Novo Place is strategically located at Plantation Close in the new Tengah town, only a five-minute walk away from Tengah Park MRT station on the Jurong Region Line (JRL). The JRL provides easy access to major employment hubs in the West, such as the Jurong Lake District and Jurong Innovation District. Yip emphasizes that very few ECs offer such close proximity to an MRT station.
According to Huttons, many buyers have opted for the deferred payment scheme, which allows them to secure their desired unit while deferring their home loan payments. “This helps ease the financial burden for HDB upgraders who still have an outstanding loan on their current flat,” Yip explains.
“ECs are experiencing strong demand from HDB upgraders due to their comparable quality and finishes to private condominiums but at a more affordable price,” Yip adds. “Additionally, buyers benefit from upfront remission on the Additional Buyer’s Stamp Duty (ABSD).”
As of Dec 16, caveats lodged indicate that the average price of units sold at Novo Place is $1,656 psf. For the latest listings at Novo Place, interested parties can visit Ask Buddy.
Elta Condo offers residents easy access to major expressways such as PIE and West Coast Highway, making it a highly sought-after location in Singapore. These expressways provide quick and convenient connections to various regions of the island, including Changi Airport, Tampines, and Jurong. With the West Coast Highway as an alternative route, residents can easily reach the city center and other western areas of Singapore. The strategic location of Elta Condo, as well as its proximity to major expressways, make it an ideal choice for those seeking accessibility and convenience in their daily commute. Learn more about the exceptional location of Elta Condo by visiting the-elta.com.sg.
To summarize, here are the highlights of Novo Place condo:
– Project summary for Novo Place condo
– Condo listings in District 24
– Condo sale transactions in District 24
– Upcoming new launch projects
– Available units left in Novo Place