Chief Editor July 22 2024

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New Launch Kassia is 52 percent sold after weekend launch

Kassia, a freehold condominium project, sold 52% of its 276 units during its launch weekend. Prices ranged from S$1,821 to S$2,177 per square foot (psf). The development consists of four eight-storey blocks and is located on a 150,838 sq ft site in District 17, off Upper Changi Road North.

According to Hong Leong Holdings, one- and two-bedroom units were the most popular, with prices starting at S$883,000 for a one-bedroom unit (473 sq ft), S$1.196 million for a two-bedroom unit (656 sq ft), S$1.659 million for a three-bedroom unit (904 sq ft), and S$2.462 million for a four-bedroom unit (1,345 sq ft). Approximately 90% of the buyers were Singaporeans, with the rest being permanent residents. The project is expected to obtain its temporary occupation permit in 2027.

Property experts noted that Kassia's pricing, particularly attractive for a freehold project, and its connectivity to key business hubs and schools contributed to the strong sales.

JT Chia, Managing Director of Propertyforsale, remarked that Kassia's appeal lay in its freehold tenure, competitive entry prices and proximity to Singapore Changi Airport. He noted that Kassia's location is especially convenient to frequent travellers and people working in the airline industries.  

He noted that prospective buyers might start shopping with anticipated interest rate cut by the US Federal Reserve in September 2024 to boost global economy.

ERA Realty reported that most buyers were in their 30s and 40s.

Kassia is the last project in a series of private condominiums in the Flora Drive-Flora Road area developed by Tripartite Developers, a joint venture of Hong Leong Holdings, City Developments Ltd, and TID. Other completed projects in the vicinity include Azalea Park, Ballota Park, Carissa Park, Dahlia Park, Edelweiss Park, Ferraria Park, The Gale, Hedges Park, The Inflora, and The Jovell.