The Duo Residences is a 660-unit residence in Bugis that sold over 468 units out of 540 that has released as of 3pm Friday November 15, 2013, according to its developer M+S Pte Ltd.
It all works to rate up of about 87 per cent within three days. A lot of units are more likely to be sold by the end of Friday, as the lineups at the show flat were still long when The Strait Times visited at 3pm.
78 per cent of the buyers were Singaporeans. And of these, most of them were investors that are already staying in private homes.
The average price of the units was about $2,000 per square feet (psf) and the highest per square foot that achieved for the studio apartment was $2,600 psf, M+S said in their statement.
The chief operating officer of M+S Pte Ltd, Kemmy Tan, told The Strait Times that the demand was strong enough to achieve a good pricing from the developer’s point of view for a 49-storey development.
According to Ms Tan, the rest of the buyers were 16 per cent Malaysians and the rest are Indonesians, Chinese and Americans that are 6 per cent.