Forest Woods is a condominium project by City Developments Limited (CDL), Hong Leong Holdings and TID. This development is situated at the junction of Upper Paya Lebar Road and Upper Serangoon Road. It is also near the Serangoon MRT station and bus interchange, and the NEX shopping mall.
It has received a strong response during its launch last October this year. 337 out of the 519 units (65%) sold as of 5pm on Sunday, 9 October. Unit prices start from $688,000 for a 1-bedroom unit to $1.65 million for a 4-bedroom unit.
Chia Ngiang Hong, a CDL Group General Manager, ascribed the keen interest of buyers that includes its competitive pricing and its strategic location. “Many units bought were for owner-occupation as they like the location and the project’s strong attributes and offerings. Due to the limited supply of new projects in this prime location, investors also bought Forest Woods in anticipation of good rental demand,” he said.
Units sold achieved an average price of $1,400 psf and all the two-bedroom and one-bedroom with study units were sold, while one of the three penthouses were also sold at a price of $2.85 million.
Singaporeans are the 88% of the buyers, while the remaining 12 percent were foreigners from Indonesia, China, Malaysia, Switzerland, Vietnam and Taiwan.
Unit prices start from $688,000 for a 1-bedroom unit to $1.65 million for a 4-bedroom unit.