SINGAPORE: Dual-key units proved to be the most popular among buyers of Twin Fountains, an executive condominium project at Woodlands. All 104 units were sold by 2.30pm on Saturday.
The project was exempted from the latest round of restrictions for executive condominiums — allowing only multi-generational families to buy dual-key units.
In addition to the dual-key units, all 78 four bedroom units have also been sold.
Those who were interested in making Twin Fountains their home had to apply online in April, and successful applicants got to choose their units on Saturday.
One of the successful applicants, Elvin Chu, said: “I think it’s quite lucky for me, because we don’t know when (the cooling measures) will happen again.”
Another of the successful applicants, Yew Wei Meng, was not so lucky though. He said: “I am here with my brother to buy a four-bedroom unit but all have been sold out, so we’re returning home empty-handed.”
Some agents told Channel NewsAsia that 70 per cent of their clients who bought dual-key units, also known as Trio units, are not from multi-generational families.
Market watchers said this does not come as a surprise. Cheang Kok Kheong, CEO of development and property at Frasers Centrepoint Homes, said: “The people who’re buying the Trio units now, are not necessarily inter-generation.
“A lot of them are in their 40s and 50s — buying in anticipation that if your grandma, or their mother or dad, one of them loses their spouse, or there are some illness, if they want to move in, they’ll be able to move in soon or immediately, instead of waiting for them as a co-buyer as what the policy now implies.”
Developers described Saturday’s response as overwhelming and that Woodlands as a location is proving to be popular among buyers.