News: Boulevard 88 sells 20 units at $3,550 psf on average

Mar 21, 2019

Majority of the units taken up at the Orchard Road condo were four-bedroom units priced at over $10 million each.

Boulevard 88, a freehold luxury residential development along Orchard Road, sold 20 of the 25 units released during its private preview at an average selling price of $3,550 psf.

City Developments Limited (CDL) and its joint venture partners, Hong Leong Holdings and Lea Investments revealed that the previews, which started on 8 March, were by appointments only.

SEE ALSO: The complete guide to buying a new launch condo in Singapore

Directly accessible via Cuscaden Road and Orchard Boulevard, the 154-unit project is a short walk to Orchard MRT station and the future Orchard Boulevard station.

Prices for a two-bedroom plus study unit start from $4.4 million, $6 million for a three-bedder, and $9.6 million for a four-bedder.

Majority of the units taken up were four-bedroom units priced at over $10 million each, while the rest were three-bedders and two-bedroom plus study units.

Singaporeans accounted for around 60 percent of the buyers, while the rest were Singapore permanent residents and foreigners mainly from China, Indonesia and the US.

“We are very encouraged by the positive response for Boulevard 88. For an ultra-luxury development, achieving a sales value of over $160 million in less than two weeks of exclusive private previews is commendable in the current market,” said CDL’s group general manager Chia Ngiang Hong.

“New freehold projects like Boulevard 88 are indeed hard to come by. Being at the nexus of the Tanglin and Orchard Road sub-precincts, the project is poised to benefit from the plans to rejuvenate and transform Orchard Road. Moreover, Boulevard 88 has a stunning design by Moshe Safdie and offers unrivalled views of the surrounding and beyond.”

Aside from these, he noted that buyers were drawn to the project’s attractive pricing.

“We are confident that Boulevard 88 will continue to attract savvy buyers looking for luxury living in the heart of town with good investment potential,” he noted.

Can you afford a condo in Singapore? Check your affordability now. Get more details on the property market outlook for 2019

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

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