Cuscaden Reserve sells 45 units by private placement

The relaunch of luxury condominium Cuscaden Reserve saw 45 (57%) out of the 79 units sold through private placement by the end of March 16.

During the two-week preview, which began on March 2, over 80 expressions of interest (EOIs) were collected.

The majority of units sold were two-bedrooms, with prices starting at $2.292m or $2.823 per square foot. Only one unit was three-bedroom.

Huttons Data Analytics internal data shows that one third of buyers at Cuscaden Reserve were under 35. Hutton Asia’s CEO, Hutton Asia, observed that most of the buyers are either Singaporeans or PRs who purchase their first home. The buyers were equally split between those who bought for themselves and those who purchased for investment.

Read also: Grand Dunman

The joint developers SC Global, New World Development, and Far East Consortium were responsible for the strong sales. They slashed prices by up to 20%.

Buyers were attracted by the attractive price of $2.4 million, which is around $2.45 million for a unit with two bedrooms. They also liked the location and prestige address.

Cuscaden Reserve, a 192-unit condominium complex, is located in District 10 off Orchard Boulevard. The luxury condominium was completed in 2023.

Cuscaden Reserve has a mixture of units from 700 to 1,163 square feet. Six 2,099 sq. ft. four-bedroom units are located on the 21st through 26th floors. These floors are rearranged from two- or three-bedroom apartments. The 27th and the 28th floors are home to a duplex penthouse measuring 3,755 square feet.

According to caveats filed, 12 units had been sold for an average of $3,625 per square foot before the relaunch. The take-up rate increased from 57 to 57 (about 30%) with the 45 additional units sold.

The Cuscaden Reserve’s remaining units will be sold on a “first-come-first-served basis”.