Good news for sustaining the following month’s home sales index with the numbers The Arte has helped to crunch.
City Development has sold over 80% of its Phase I released units, which is 150 units out of its total 336, 44% of the overall numbers in the project. The median sold price for The Arte during the launch is at $880 psf, a very affordable and fair range for Thomson-Balestier area.
Home Sales Figure Holds Strong In March
Home sales figure reported for March breached the 1,000 figure again with 1,220 units sold, holding up strongly with projects such as Caspian, Double Bay Residences, Mi Casa and The Quartz, all priced below the $1,000 per square foot range.
The mid-tier market is still running the numbers, with many seeing this as a good opportunity to switch between HDB and private apartments as HDB prices are still holding where the private segment has been falling significantly from November 2008 till date.
About The Arte
The Arte (District 12), a freehold 336 apartment (2 blocks of 36 storeys) development by City Development, is well situated in Thomson within minutes driving distance to Central Business District, close proximity to both Novena and Toa Payoh MRT Station.
Within the radius are good schools and upcoming overseas universities. This development has a future niche be it on rental or for parents who are planning for their kids to enrol in good schools.
The expected TOP date for the Arte is in December 2012. You can download a pdf version of the brochure from here.