The development of the Southern Waterfront Gateway benefits Avenue South Residence

The lunar calendar, commonly known as the "Ghost Festival", ended on Thursday, and the developers who have been inactive for a long time are busy again. This weekend, a new project will be launched to test the "water temperature" of the property market. One of the more eye-catching new debuts is the Avenue South Residence on Silat Avenue.

Prime Minister Lee Hsien Loong recently announced the details of the development of the Southern Waterfront at the National Day Rally, which has caused the attention of private home buyers. UOL is vigorously promoting Avenue South is "the first large private residential project in front of the southern waterfront gateway".

Avenue South Residence has a total of 1074 units, distributed in two 56-storey residential buildings and five four-storey retaining buildings. The developer will launch 300 units first. The price of more than half of the units is less than $1.5 million, the one bedroom unit starts from $850,000, and the second bedroom unit jumps from $1.15 million.

UOL's president pointed out at the project promotion meeting yesterday that the Avenue South Residence unit is divided into three categories, including the Peak Collection on the upper floors, the Horizon Collection on the lower floors, and the Heritage Collection in the reserved buildings. The average price is $2250, $1980 and $1780.

According to the letter, the Southern waterfront gateway will be an important development project for the government to reshape Singapore. This 2,000-hectare area, equivalent to six areas of the Marina Bay area, will promote more vigorous business and leisure activities and create many business opportunities. It will also bring huge value-added potential to private houses around the area.

He also hinted that the company won the land of Avenue South Residence at a competitive price, so it would allow the first batch of buyers to enjoy a more attractive price. However, the price of the project may increase, just like the projects such as The Tre Ver and Amber 45.

UOL, in conjunction with United Industries (UIC) and Kheng Leong, won the land of Avenue South Residence in May last year, when it was unexpectedly the only bidder with a price tag of $1,035.3 million. The price is equivalent to $1138 per square foot.

Speaking of the current property market situation, the president said that although the cooling measures have the effect of regulating the price increase, the property market is still resilient. The private housing prices are still rising in the first half of the year, and the private residential subscription rate is also better than the second half of last year, indicating the potential of buyers' strong demand.

On the other hand, the unstable social situation in Hong Kong seems to have prompted more Hong Kong buyers to buy houses in Singapore. Asked about this, UOL's president said that he did not notice such a trend, but he said: "Singapore's political stability has always been regarded as an investment heaven, so it will always attract foreign buyers to buy property here."

Avenue South Residence opened its sales showroom on Friday and will officially launch on September 7.

In addition to Avenue South Residence, this weekend's new debut project also includes the Luxus Hills, a landed residential project in the Seletar private residential area. A total of 78 land-based dwellings were launched, all of which were 999-year title deeds. The price of each dwelling ranged from $3.05 million to $4.2 million.