2016 has been a good year for Executive Condominiums. The transaction volume of Executive Condominiums has doubled in 2016. In 2016, 3,999 Executive Condominiums have been sold compared to 2,550 units sold in 2015. For Westwood Residences at Jurong, the number of units sold has also risen steadily since March 2016, with an average of 15.3 units sold per month thereafter. Before March 2016, the transaction volume is around 6.7 units per month.
(Do note that 100 units were sold during May 2016. May 2016 was the month where Westwood Residences was launch. This data point was removed from the trending graph to have a better view of the monthly transaction volume.)
Reasons for Higher Transaction Volume
The main reason for the sales was due to the announcement of Jurong Innovation District (JID). Given that this announcement was made after the project is launch, it has made Westwood Residences a more attractive development. The initial selling price of Westwood Residences has not factored in the benefits of having this new exciting development. And as of today, the developer is still maintaining the price.
With JID across the highway, residents of Westwood Residences will have a greater convenience of amenities and (possibility) an MRT station nearby. Can you spot the MRT station in the video below?
Now, summing up the crazy number of developments in Jurong, that is, Jurong Lake District, JID, High-Speed Rail, Tuas Mega Port and an MRT station nearby, Westwood Residences will no longer be an ulu place (“ulu” means “A place far away from civilization).
With these exciting developments, what do you think of the chances that 1st hand owners of Westwood Residences would make a good capital gain?
How will 2017 be for Westwood Residences?
As Westwood Residences is approaching TOP in 3Q2017, we expect more home upgraders to consider making this development their next home. The financial burden of the home upgraders will be eased as they can now sell their existing property and move into Westwood EC with a much shorter transition period.
This trend is evidenced by The Amore, Bellewaters & Bellewoods Toward their TOP dates, the transaction volume per day rose 27 units per month for The Amore, 20 units per month for Bellewaters and 17 units per month for Bellewoods.
In addition, to lighten home upgraders’ financial commitment, they are now offered Deferred Payment Scheme at the price of the Normal Payment Scheme.
As of today (3 Feb 2017), Westwood Residences have sold 329 units out of 480, with 2 bedrooms configuration fully sold.
So, for buyers who are interested in this development, we encourage you to make an appointment with us today for a non-obligatory discussion. As the day passes, your choices may just get lesser.
For those who are already owners of Westwood Residences, we are looking forward to having you moving into Westwood Residences.
For those who are not interested in Westwood Residences and not an owner of Westwood Residences, you can check out the List of Executive Condominiums with Unsold Units. Hopefully, you will find a development that fits your requirements =)
Oh ya! Before you leave this page, do let us know what you think of Westwood Residences. Have a nice day!