Cuscaden Reserve sells 45 units by private placement

On March 16, 45 of 79 units were sold in private placements.

In the two-week preview period that began March 2, more than 80 cheques as expressionss of interest were collected.

All units sold had two bedrooms, starting at $2.292million or $2.823 per square feet. There was only one three-bedroom unit.

Huttons Data Analytics has determined that one-third of Cuscaden Reserve’s buyers are under the age of 35. Hutton Asia’s CEO observes that many of the buyers are Singaporeans and permanent residents who have purchased their first home. A similar number of people bought their first property for personal use and investment.

The joint developers SC Global New World Development Far East Consortium, who slashed the selling price by as much 20% were credited for the sales success.

Read also: The Myst

The buyers were very interested in the unit’s attractive price, around $2.4M for two bedrooms. It was also located in a good area and had a prestigious address.

Cuscaden Reserve, with its 192 units, is located off Orchard Boulevard on Cuscaden Road. The luxury condo is scheduled to be completed by August 2023.

Cuscaden Reserve consists of a mix between one-bedroom, two-bedroom and three-bedroom units ranging in size from 700 sq ft up to 1,163sq ft. From the 21st floor to the 26th, there are six apartments with four bedrooms. They measure 2,099 square feet. The apartments are now four-bedrooms, but were previously two-bedrooms or three-bedrooms. The 27th-28th floors have a 3,755 sq.ft. duplex penthouse.

A review of caveats revealed that 12 units were purchased at an average price per square foot of $3.625. With 45 more units sold, take-up has increased to about 57 units.

The Cuscaden Reserve remaining units will only be sold to the first people who apply.