The 400-unit ARTRA, next to Redhill MRT Station, was launched over last weekend and has managed to sell 130 out of 200 units being released.
The average per square foot (psf) price for units sold was $1,700.
ARTRA comprises of unit types which are mainly larger in size and units sold over the weekend were mostly 2-bedroom and 3-bedroom apartments.
The mixed-use new launch project will also have a supermarket and 16 other commercial lots on the 1st level.
With more than 60% of units remaining, ARTRA will join the list of other existing new launch developments (with balance units) in the Redhill precinct, such as Principal Garden, Alex Residences, and The Crest.
According to statistics and transaction data, there is a total of 1,806 unsold private homes (including executive condo units) as of end-March.
When compared to some of the earlier launches this year, first-day sales at ARTRA is probably considered uninspiring as the overall price quantum is relatively higher than the rest – with a minimum entry price of $1.2 million.
Market watchers have forecasted that the total sales figure for new homes may receive a dip of as much as 30% in the 2nd half of 2017, due to the fact that there won’t be as many projects being earmarked for release in the final 6 months of the year.
The most eye-catching of all projects in the 2nd half of 2017 would be GuocoLand’s Martin Modern – a full condominium with approximately 450 units, situated in prime district 9 of Singapore at Martin Place.