During the sales launch of The Continuum over the weekend of 6-7 May 2023, Hoi Hup Realty and Sunway Developments - the joint developers - have managed to sell 216 units out of the 816-unit freehold condominium. This amounts to a sales percentage of 26.5%, with an average price of $2,732 psf.
90% of the buyers are Singaporeans while permanent residents make up 10%. Foreign buyers have taken a back seat following the recent hike in ABSD which doubled from 30% to 60%.
In absolute numbers, the sales figures for The Continuum are comparable to that of Blossoms By The Park, which sold 206 units (75%) out of 275 units for a mixed-use development on 29 April 2023. The average price for Blossoms By The Park was slightly lower at $2,423 psf, but it should be noted that the property was on a 99-year lease.
Both developments were launched immediately after the latest property cooling measures that took effect on 27 April 2023.
This shows that buyers are getting increasingly price sensitive amid the uncertain global economic outlook. At the same time, a slew of supply in District 15 has added to the caution.