Grand Dunman has sold over half of its 1,008 units during the weekend of launch at an average price per square foot of $2,500

Grand Dunman developers SingHaiyi Group, and CSC Land Group, said that more than half the units were sold in its first weekend at an average price per square foot of $2,500.

After the official launch of the development on Saturday, at 5.30pm 550 units (54.6%) of 1,008 were sold.

Gary Lim said that SingHaiyi’s development’s sales were “well-spread”.

Sales of two-bedroom units were the most successful – 77 percent of the units sold started at $1.55 million which translates to $2.330 per sq. ft.

Three-bedders were next, with 61 per cent sold. They start at $2.21m with a price per square foot of $2,309.

The price for one-bedroom apartments was $1.09m and $2.418/sqft.

Mr Lim said that investors were attracted to the smaller two-bedders and one-bedroom apartments, which is in line previous statistics. Investors and owner-occupiers bought two-bedroom apartments that came with a study. Larger units were purchased by owners.

99% of the buyers are Singaporeans.

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Mr Lim also said it was not clear if foreigners would be subject to new stamp duty rules that doubled the tax in late April to 60%.

Many analysts have noted that Grand Dunman has been the most popular project over the past two years. The previous record was held by Normanton Park in January 2020, when about 600 units were sold.

Analysts say that the location is likely what attracted buyers to the project, besides the fact that it was the only major launch of the year.

Grand Dunman in Dunman Road is just a short walk from Dakota Station. This development is close to Kong Hwa School as well as Chung Cheng High School Main and Tanjong Katong Girls’ School.

Grand Dunman is a 99 year leasehold development with a 25 234.3 sq m site. It should obtain its temporary occupation license in 2028.

Beside this development, potential buyers can consider 3 other new launch in the vicinity; The Continuum by Hoi Hop and Sunway Group, Tembusu Grand by City Developments Limited and LIV at MB by Bukit Sembawang.

Source: https://www.straitstimes.com/business/over-half-of-grand-dunman-s-1008-units-sold-on-launch-weekend-at-average-price-of-2500-psf