Straits at Joo Chiat achieves 20% sales at an average price of $2,100 psf over the weekend

This May 11-12 weekend marked the launch of Roxy-Pacific Holdings' boutique development Straits at Joo Chiat. Three out of a total of 16 units in the freehold condo were sold over the weekend at an average price of $2,100 psf. The three units sold were a mix of three-bedroom-plus-study and four-bedroom types. "The buyers were mainly families looking for good-sized apartments in District 15 and prefer boutique projects to larger condominiums," says Teo Hong Lim, executive chairman of Roxy-Pacific Holdings. Discussions are underway for several more units, according to Teo. "Buyers are faced with more choices today," he says. "They are more discerning and need more time to commit to a purchase." Read also: Straits at Joo Chiat: Where Contemporary meets Peranakan Advertisement The units at Straits at Joo Chiat are targeted at families and range from three- to five-bedrooms. Three-bedroom-plus-study units are sized from 990 sq ft, and three-bedroom-plus-guest from 1,044 sq ft. Four-bedroom units are sized from 1,227 sq ft, while five-bedroom units are 1,453 sq ft. There are four units of each type on every floor. A redevelopment of a pair of semi-detached houses at Joo Chiat Place in prime District 15, Straits at Joo Chiat is a Peranakan-themed, freehold five-storey condo with a mix of three- to five-bedroom units. "Buyers were attracted by the unique theme of Straits at Joo Chiat - a contemporary expression of the Peranakan through a unique blend of Chinese, Malay, and European design elements," says Mark Yip, CEO of Huttons Asia. "The regular layout of the units, the good-sized bedrooms and price point of around $2 million for a freehold project were also attractive to buyers." Last weekend (May 4-5) saw the launch of another boutique development, the 21-unit Jansen House by niche developer Macly Group. Located on Jansen Road, the project is situated in the Kovan and Serangoon neighbourhood of District 19. Macly Group offered a 15% early bird discount on the launch weekend of Jansen House, with prices starting from $1,940 psf. Two-bedroom units had prices from $1.499 million, three-bedrooms were upwards of $1.99 million, and four-bedrooms from $2.442 million. Based on caveats lodged, two units were sold at the 999-year leasehold Jansen House: a 721 sq ft, two-bedroom unit for $1.53 million ($2,121 psf); and a 1,335 sq ft, four-bedroom unit for $2.8 million ($2,098 psf). Read also: Roxy-Pacific returns to the east with preview of Straits at Joo Chiat from $2,080 psf Advertisement