Sales at The Santorini off to slow start

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Sales at the 597-unit The Santorini condominium (pictured) along Tampines Avenue 10 have been slower than expected, with a 40 percent take-up rate recorded over two days last weekend.

Officially launched on 29 March, only 80 units found buyers out of an initial 200 apartments made available for sale, with the average price at $1,100 psf.

A spokesman from developer MCC Land (Singapore) said the majority of sales involved one and two-bedroom units.

Strong pent-up demand was expected for the Mediterranean-inspired project as it is the first new launch in the Tampines area since Q Bay Residences came onto the market just over a year ago.

The development comprises eight 15-storey blocks of one- to five-bedroom units of varying configurations, including penthouses.

Located close to Tampines MRT station, the project is expected to TOP in 2018.


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