This year’s first new executive condominium (EC), Piermont Grand, sold 375 or 46% of its units in the first two days of the opening from 17 July 2019, with an average selling price of $1080 per square foot, setting a record for the highest price of EC.
Piermont Grand EC in Sumang Walk is jointly developed by City Development (CDL) and TID.
Urban Development issued a statement on Sunday that as of 6 pm, 375 of the 820 units were sold, making it the best-selling real estate project this year. The project has three to five bedroom units ranging in size from 840 to 1701 square feet with a starting price ranging from $888,000 to $1.58 million.
According to the statement, 245 units of buyers are the second home buyers, accounting for about 30% of the total number of units. According to the current regulations of the Housing Development Board, 30% of the units at the time of the opening of the EC are reserved for the second home purchasers. As a result of the full amount, the second home purchaser who could not buy a house this time can purchase from the remaining units after one month.
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