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1. Written by News on 13-02-2009 17:59
 
 
Punters pulled in
PREVIEW sales of the 293-unit Alexis at Alexandra Road started yesterday and developer Fission Group said that at least 50 per cent of the development has been sold at prices ranging from $850 per square foot (psf) to $1,100 psf. 
 
 
Keen interest: A seasoned property consultant said that interest in Alexis is likely because most of the units are small and prices range from $450,000 to $650,000 
 
The company was coy on the exact number of units sold but it may have been a tad too modest. Some buyers BT spoke with at the crowded show flat said that they were told by marketing agents that up to 85 per cent of the units had been sold by 7.30 pm. 
 
'The prices are competitive compared with other condominiums, but its proximity to the MRT and CBD makes the Alexis a good investment,' said Steven Kwok, a potential buyer who had been quoted a price of $1,050-$1,100 psf. 
 
Another buyer said that compared to the recently launched Caspian ($580 psf), Alexis is not cheap but he hopes to resell the property for a profit. He also said that compared to what was quoted in an invitation he had received earlier, prices quoted at the showflat were 10 per cent higher. 
 
According to official data, three units at The Anchorage next door sold at $848-$929 psf in the fourth quarter while a unit at Queens on Stirling Road sold for $894 psf this month. 
 
Fission Group has tied up with United Overseas Bank to offer an interest absorption scheme, which, like the now-scrapped deferred payment scheme, allows buyers to defer any payments beyond an initial downpayment until the project receives Temporary Occupation Permit (TOP). 
 
Alexis is being built on the former Alexandra Centre which was put up for collective sale in 2007 for around $300 per square per plot ratio. It is not known how much Fission Group paid for the site. 
 
A seasoned property consultant said that interest in Alexis is likely because most of the units are small. At between 400 sq ft for a one-bedroom unit and 650 sq ft for a two-bedder, prices range from $450,000 to $650,000. 
 
He also said that there was 'still liquidity in the market' and investors with a two-year investment horizon would still find property attractive. 'There is no point putting money in a bank,' he added.
 
2. Written by News on 13-02-2009 00:14
 
 
Developer offering discounts of 28%
Yi Kai Development and Fission Group, the developers of the 293-unit condominium Alexis @ Alexandra , are offering discounts of 28 per cent to pull in the crowds.  
 
And the move appears to be paying off as potential homebuyers flocked to the opening of the development near Queenstown MRT.  
 
The offer ends on Thursday.  
 
The development includes 100 studio apartments, priced at about S$450,000 each. Two-bedroom units cost approximately S$660,000.
 
3. Written by News on 04-02-2009 12:32
 
 
Ave pricing tipped at above $1,000 psf
DEVELOPERS of at least two residential projects will be testing the market with previews soon, offering interest absorption schemes that mimic the old Deferred Payment Scheme (DPS). 
 
First off the mark will be Frasers Centrepoint, which will begin to preview later this week its Caspian condo, a 99-year-leasehold project next to Lakeside MRT Station. The price is expected to be in the ‘low to mid-$600 per square foot range’ on average, to appeal to HDB upgraders. 
 
Over at at corner of Alexandra Road and Commonwealth Avenue, Yi Kai Development and Fission Group are also expected to begin previews soon for Alexis @ Alexandra , a 293-unit freehold project comprising mostly smallish units of one and two bedders. The average pricing is tipped at above $1,000 psf. One-bedroom apartments will be priced at below $500,000. The development is near Queenstown MRT Station. 
 
Developers of both projects have tied up with United Overseas Bank (UOB) to offer an interest absorption scheme (IAS), which, like the now-scrapped DPS, eases cash flow for buyers, as they do not make any payments beyond an initial downpayment until the project receives the Temporary Occupation Permit (TOP). This is expected to be around 2012 for both projects. 
 
IAS buyers will have to sign up immediately for mortgages with UOB and make a 20 per cent downpayment using cash and CPF savings. UOB will pay progress billings during the projects’ construction to the respective developers. 
 
Buyers will not service the principal amount of the loan while the projects are being built, as UOB will defer collection on the principal during this period. 
 
Collection of the interest will not be deferred; however, this will be serviced or absorbed by the developer on behalf of its buyers. 
 
After the project receives TOP, the buyer will have to start servicing both principal and interest. 
 
Property agents say typically, those who buy on IAS pay about 3 per cent more on the purchase price of the property than buyers who make normal progress payments. 
 
This price differential is similar to the 3-5 per cent premium that DPS buyers used to pay compared with purchasers who opted for the normal progress payment scheme. 
 
However, market watchers say the good thing about IAS is that buyers have to secure a housing loan at the outset from the bank, and this entails a mandatory credit-assessment of the buyer. This would weed out poor-quality borrowers dabbling in properties beyond their means, something DPS has been criticised for.
 
4. Written by Patrick Oei on 13-02-2009 18:00
 
 
Huttons Group Director
Actually the feedback is that the developer has not released the price list and this $900 - $1000 psf prices quoted is wrong. 
 
From what we know at the moment is that the prices start from $4xxK upwards. 
 
75m LONG SKY POOL - Longest in singapore3br : 15 units(PH), 3+1 : 2units(PH), 2 : 57units, 2+1 : 28units, 1 : 114units, 1+1 : 77units. Size from 378 sf Up.
 
5. Written by News on 07-01-2009 21:14
 
 
Upcoming Launch at Alexandra Rd
Upcoming launch is that of Alexis in Alexandra Road. The freehold development has about 300 units and is less than 10 minutes’ walk to Queenstown MRT Station, according to property agents. 
 
Indicative prices are about $900 to $1,000 psf, according to agents. The developer is offering a payment scheme similar to deferred payment, where buyers can pay 20 per cent upfront and then nothing until completion.
 

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