Serangoon Ville a former HUDC estate privatised and sold to a consortium led by Oxley Holdings for a whopping $499 million under a collective sales tender program. The selling price was way above the initial asking between $400 million to $430 million targeted when the development was put up for sales last month.

Serangoon Ville is the latest addition to mark the sixth successful collective sales to the daily most discussed hot topic of the property market showing signs of bottoming out right from the beginning of the year. Total of 244 apartments and mansionettes of unit size ranging from 1625sqft to 1733sqft, owners are elated to pocket a handsome profit of about $2 million each (estimated), higher than the $1.6 million to $1.7 million expected.

Source : Straits Time
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