The Hungry Ghost Festival in August has positively not frightened rich purchasers from making extravagance condominium buys. In simply the initial 13 days of the month, there were 10 such exchanges above $9 million, in view of admonitions held up to date.

Eight of the 10 exchanges above $9 million were for units at Nouvel 18 on Anderson Road, which saw towards the part of the bargain. Until this point in time, 21 units have been sold. A large number of the units that have been gobbled up were the four-room in addition to think about units of 2,820 to 3,337 sq ft at costs running from $9.15 million ($3,245 psf) for a mid-floor unit to $12.9 million ($3,867 psf) for a high-floor unit in the twin 36-story towers.

View Parc Canberra layout for project floor plans.

As per City Developments Ltd (CDL), 90% of the purchasers are outsiders. The greater part are said to be from China.

The freehold, 156-unit extravagance venture in prime District 10 is planned by French designer Jean Nouvel and was finished in 2014. The undertaking has a blend of two-, three-and four-room condos just as sky suites and penthouses with sizes extending from 1,335 to 6,318 sq ft.

“The profile of purchasers at Nouvel 18 is fundamentally the same as those of Boulevard 88,” watches Dominic Lee, head of extravagance group at PropNex Realty. At Boulevard 88, which was propelled in March this year, a significant number of the units sold at first were additionally four-room units from 2,777 sq ft and estimated above $9 million.

“There has been almost no new supply of enormous arrangement lofts in the prime Districts 9 and 10 as of late,” notes Lee. “That is most likely why such units are being gobbled up.”

Situated on Orchard Boulevard in prime District 9, Boulevard 88 is created by a joint endeavor between CDL, Hong Leong Holdings and LEA Investments. In view of provisos stopped, the 154-unit extravagance venture is about 46% offered to date at a normal cost of $3,828 psf.

In the interim, at the 96-unit, freehold 3 Cuscaden, just the last period of 19 units are accessible available to be purchased, as per PropNex’s Lee. The venture was propelled last November by developer Sustained Land. Until this point in time, the normal cost accomplished in the freehold advancement is $3,568 psf, in view of provisos held up. The units at 3 Cuscaden are said to be mainstream with nearby, Indonesian and Malaysian speculators as the little position one-and two-room units inside the advancement have costs beginning from $1.57 million for a 463 sq ft unit.