GRAND Dunman, a residential development by SingHaiyi Group and CSC Land Group, experienced strong sales during its launch weekend. As of 5:30 pm on the first weekend, 550 out of 1,008 units were sold, accounting for 54.6% of the available units. The average selling price was S$2,500 per square foot (psf).
According to Gary Lim, the head of sales and marketing at SingHaiyi, the sales distribution was well spread out among the different unit types. Two-bedroom units were the most popular, with 77% of available units sold at a starting price of S$1.55 million (approximately S$2,330 psf). Three-bedroom units followed with a 61% sales rate, starting at S$2.21 million (approximately S$2,309 psf). One-bedroom units had a 58% sales rate, starting at S$1.09 million (approximately S$2,418 psf).
Investors were attracted to the smaller units, such as one-bedroom units and smaller two-bedders, while larger units were primarily purchased by owner-occupiers. Around 90% of the buyers were Singaporean, 9% were permanent residents, and the remaining 1% were foreigners. It is unclear if the foreign buyers are subject to the new Additional Buyer Stamp Duty (ABSD) rules, which increased the tax to 60% in late April.
About 70% of the units sold were priced around $3 million or below.
Analysts noted that the performance of Grand Dunman during its launch weekend made it the best-selling project in over two years, surpassing the previous record held by Normanton Park, which sold around 600 units in January 2021. The project's location, close to amenities such as Dakota MRT station and schools like Kong Hwa School, Chung Cheng High School (Main), and Tanjong Katong Girls' School, likely contributed to its appeal.
The convenience of travelling to CBD and good food at the Old Airport Road Food Centre are valid reasons to consider Grand Dunman.
Grand Dunman is a 99-year leasehold development situated along Dunman Road and occupies a site area of 25,234.3 square meters. It is expected to obtain its Temporary Occupation Permit in 2028.
Also at District 15 of Singapore, Grand Dunman sales outperformed the 638-unit Tembusu Grand in April and the 816-unit The Continuum in May.
“Buying a bigger unit at Grand Dunman makes absolute sense for future capital appreciation. A 3 bedrooms unit with a floor area of 1,119 sqft will rake in more than $300,000 of profits if it appreciates by $300 PSF,” said JT Chia, Managing Director of Propertyforsale Pte Ltd.
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