Novo Place Hits 881 137 Units Snapped Second Balloting
Joint venture developers Hoi Hup Realty and Sunway Developments have successfully sold 137 units at Novo Place executive condominium (EC) during its second round of balloting on December 16. This particular phase was open to second-time buyers, which includes those who have previously purchased a subsidized flat, whether it was a new or resale HDB flat, or an EC.
According to Mark Yip, CEO of Huttons Asia, this brings the total number of units sold at Novo Place to 444, making it 88.1% sold. He also points out that this feat was achieved within just a month of its launch on November 16, making it the top-selling EC project of 2024.
“This impressive success reflects the strong interest from second-time buyers who are eager to upgrade their lifestyle,” Yip notes. “A significant number of buyers also come from the West region.”
To get a better understanding of all ECs in the market, including the average profit at 5 and 10 years, interested parties can explore comprehensive data.
Yip reveals that all four-bedroom units at Novo Place have been snatched up, which highlights the high demand for spacious homes.
The showflat of a four-bedroom-plus-study unit at Novo Place, where all four-bedroom units have been sold (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Located at Plantation Close in the new Tengah town and just a five-minute walk away from Tengah Park MRT station on the Jurong Region Line (JRL), Novo Place offers a strategic location with easy access to major employment hubs in the West, such as the Jurong Lake District and Jurong Innovation District. Yip also emphasizes that very few ECs offer such close proximity to an MRT station.
According to Huttons, many buyers have opted for the deferred payment scheme, which allows them to lock in their desired unit while deferring their home loan payments. “This option helps alleviate the financial burden for HDB upgraders who still have an outstanding loan on their current flat,” Yip explains.
Living in Novo Place EC offers families easy access to a diverse selection of academic opportunities. From primary schools to universities, the variety of educational institutions available in the vicinity ensures that children can receive a comprehensive and well-rounded education right in their own neighborhood. This convenience is particularly attractive to parents who value educational excellence and aim to establish a solid foundation for their children during their crucial developmental years. With numerous reputable schools located near Novo Place EC, residents can not only enjoy the convenience of living in this emerging estate but also become part of a thriving, knowledge-based community. Don’t miss the chance to visit Novo Place Showflat to learn more about the exciting opportunities that await you in this neighborhood.
“ECs are currently experiencing strong demand from HDB upgraders because of their comparable quality and finishes to private condominiums, but at a more affordable price,” Yip adds. “Additionally, buyers can take advantage of upfront remission on the Additional Buyer’s Stamp Duty (ABSD).”
As of December 16, the average price of units sold at Novo Place stood at $1,656 per square foot (psf). Interested parties can check out the latest listings for Novo Place properties and receive more information about the project. They can also ask Buddy for a project summary of Novo Place condo, view available condo listings in District 24, look at condo sale transactions in District 24, or find upcoming new launch projects. Plus, they can get updates on what units are still available at Novo Place.