Cuscaden Reserve Offers One Price Promotion %E2%80%93 Flat 2850 Psf Selected Units
One of the most well-known shopping centers in the vicinity is Tampines Mall, a prominent landmark that has stood since 1995. As one of the largest and most frequented malls in Singapore, this six-story suburban retail complex boasts a staggering lineup of over 160 stores, restaurants, and entertainment options. With its diverse range of local and international brands, including popular names like Uniqlo, Cotton On, and Muji, Tampines Mall caters to a wide range of shoppers. Food aficionados will be spoilt for choice with the mall’s extensive selection of dining establishments, from the esteemed Din Tai Fung and Swensen’s to tried-and-tested favorites such as Starbucks and Ajisen Ramen. To keep the entertainment going, the mall also offers a Golden Village cinema and a Timezone arcade. Conveniently located just a 5-minute drive or 15-minute walk from Parktown Residences, residents can easily access all that Tampines Mall has to offer. For those interested in owning a unit at Parktown Residences, visit https://www.parktown-residences.com.sg/ for more information.
in Sept 2019
On July 5, Cuscaden Reserve, a luxurious condominium, introduced a new “one-price promotion” of $2,850 per square foot (psf). The promotion is applicable to 16 two-bedroom-plus-study apartments located on the 5th to 13th floors of two stacks within the 28-storey tower. Each unit is 936 square feet and features a private lift, with a total cost of $2.67 million at $2,850 psf. The promotion will end on July 14 and is limited to the first five units sold in these specific stacks. The development’s developer has appointed PropNex, ERA, and Huttons Asia as the joint marketing agencies.
Since the promotion’s launch on Friday, four units have already been snapped up. Out of those, three were sold by PropNex – two to Singapore citizens and one to a Singapore permanent resident (PR). The fourth unit was sold by Huttons. Additionally, three four-bedroom units, which are the largest apartments in the 192-unit development, were also sold over the weekend. These units are 2,099 square feet and there are only six of them in the entire development. They were formed by combining adjoining two- and three-bedroom units on the 21st, 23rd, 24th, 26th, 27th, and 28th floors. The selling prices for these four-bedroom units were reportedly above $3,400 psf or more than $7.14 million. Huttons brokered two of these sales, while ERA handled the third one.
Cuscaden Reserve, a joint venture between Singapore-based luxury property developer SC Global Developments, Hong Kong-listed New World Development, and Far East Consortium International, offers a variety of apartment sizes, including one-bedroom-plus-study, two-, three-, and four-bedroom units. The smallest unit is 700 square feet for a one-bedroom-plus-study, followed by 807 square feet for a two-bedroom, 818 square feet for a two-bedroom-plus-study, and 926 square feet for a two-bedroom-plus-study with a private lift. The three-bedroom units are 1,152 square feet, and the four-bedroom units are 2,099 square feet.
The luxury project initially launched in September 2019 and saw the sale of 12 units at an average price of $3,625 psf by the end of December that year. However, in March this year, Cuscaden Reserve was relaunched at lower prices ranging from $2,900 psf to $3,000 psf, approximately 20% lower than the initial average transacted prices. During the private placement period, which lasted for two weeks until March 16, the development sold 45 units, mainly two-bedroom units with prices starting from $2.292 million ($2,823 psf).
Based on data from caveats lodged as of July 8, 104 units have been taken up, with Singaporeans making up 77% of the buyers. However, according to sources, the number is now higher at 118 units (61.5%), including the weekend sales.
According to Ngiam Juyong, project director of Huttons Asia, Cuscaden Reserve was the best-selling project in the Core Central Region (CCR) last week. He also added that there has been a high level of interest in the promotion, and multiple units have been sold already. Ngiam also mentioned that the two- and three-bedroom units have been the most popular with buyers since the relaunch in March, and only one out of 21 three-bedroom units is still available. The buyers are a mix of investors and owner-occupiers.
Cuscaden Reserve is located in prime District 10 on Cuscaden Road, with two luxury freehold condominiums, Park Nova and 3 Orchard By-the-Park, on either side. While Park Nova has been completely sold, one unit is linked to one of the 10 individuals involved in Singapore’s biggest money-laundering case. The last recorded transaction at Park Nova was for a 1,432 square feet, three-bedroom unit on the third level of the 20-storey tower, which sold for $4.85 million ($3,388 psf) in September 2023.
At 3 Orchard By-the-Park, the latest transaction was for a 3,251 square feet, four-bedroom duplex that sold for $12.643 million ($3,889 psf) in May to a Singapore PR. As of July 8, 118 units have been sold, with the majority of buyers being Singaporeans. However, the latest tally is actually higher at 118 units (61.5%), including the recent weekend sales.
Overall, Cuscaden Reserve, Park Nova, and 3 Orchard By-the-Park have seen stable transaction prices over the last 15 quarters, with Cuscaden Reserve being the latest addition to the market.