“The project is likely the first major private residential launch (excluding executive condominiums) after the implementation of the latest round of cooling measures on 30 September 2022, and we do observe that homebuyers are more conscientious and deliberate in their buying decisions,” says Tan Zhiyong, CEO of MCC Singapore on behalf of the consortium.
The 268-unit Sceneca Residence located at Tanah Merah Kechil Link, was officially launched yesterday (Jan 14), after a two-week preview that started on Jan 1. Balloting of units kicked off at 10.30 am on Jan 14, and by 5 pm, 160 units (about 60%) were sold at an average price of $2,072 psf.
As the first new project launch of 2023, Sceneca Residence’s performance is a harbinger of what other developers with projects in the pipeline could expect. According to sources, the developer – a consortium made up of MCC Singapore, Ekovest Developments and The Place Holdings – had collected a total of 560 cheques by Thursday evening, hence the project was two times subscribed. This reflects a conversion rate of about 28.6%.
