City Developments sells $190m of homes

Friday, 17 April 2009 07:58
City Developments sold $190 million of homes at The Arte at Thomson, a development project in a suburb of Singapore, the local press reported.
The property developer has sold 150 homes at the project, which has an average price of $880 a square foot, since March 21. The development comprises 336 units, of which 180 have been offered for sale, the report said.
City Developments is offering an interest absorption plan that allows homebuyers to pay just 20% of the property’s cost and defer the remainder until the project is completed.
Buyers are still required to take up a housing loan when making the purchase.