In contrast, Canberra Crescent Residences, despite a lower average price of $1,974 psf, lacks MRT connectivity and saw a weaker take-up rate of just around 40%, observes DBS.
DBS Group Research has kept its "buy" call and $2 target price on GuocoLand after the developer's joint venture with Hong Leong Springleaf Residence achieved a better-than-expected 92% sales at launch at an average of $2,175 psf.
The 941 unit project, developed together with Hong Leong, moved well thanks to "competitive pricing", says DBS on Aug 18, noting that it is one of the most affordable launches this year (on psf basis) alongside its strategic location near Springleaf MRT station on the Thomson East Coast Line.
