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The Brownstone – Best-selling Executive Condominium (EC) in 2015

  • 185 units snapped up over launch weekend, highest among EC launches this year – units sold at an average of about S$810 psf
  • Attractive pricing offers extraordinary value, given its excellent location right next to the upcoming Canberra MRT station and development potential in the area

Singapore, 27 July 2015 – Bookings for The Brownstone Executive Condominium (EC) commenced on Saturday, 25 July 2015. Over the launch weekend, 185 units were snapped up. This makes The Brownstone to-date the bestselling EC launched in 2015. About 65% were eligible first-time buyers.

Comprising 638 apartments, the chic New York-inspired EC offers a diverse mix of unit types, ranging from a 732 square feet (sq ft) 2-bedroom apartment to 1,711 sq ft 5-bedroom penthouse. The units were sold at an average of about S$810 per square foot (psf), with prices starting from S$596,000 for a two-bedroom, S$695,200 for a three-bedroom, S$835,200 for a four-bedroom and S$1.316 million for a penthouse. All unit types, particularly the 3- and 4-bedroom apartments enjoyed good take-up rates. The 5-bedroom penthouses are sold out.

The strong interest in The Brownstone is driven by its accessibility to the MRT network and development prospects of its neighbourhood. It is the only new EC project directly next to an MRT station. Canberra MRT station is expected to open the same year The Brownstone is slated for completion.

In today’s market, EC projects are priced at about S$800 psf on average. Property consultants have consistently indicated a 10% to 20% premium for well-located projects situated close to an MRT station. In addition, resale prices of completed new private condominiums in the same vicinity are transacting at about S$1,000 psf. Comparatively, the pricing for The Brownstone makes it one of the most well-valued developments around.

Mr Chia Ngiang Hong, Group General Manager of City Developments Limited (CDL) said, “Given today’s highly competitive EC market, we are very pleased with the robust take-up rate for The Brownstone, which reflects the strong attributes of this project. With the North of Singapore poised to transform into a lifestyle and commercial hub, The Brownstone’s convenient location just beside the upcoming Canberra MRT station, and its attractive pricing, offers significant upside for homebuyers.”

EC homebuyers were also attracted to The Brownstone’s lush landscaping and thematic recreational facilities, which include many luxurious pools, a junior skating ring and social gardens. Designed as a luxury EC, apartments are furnished with premium fittings and appliances from brands like Hansgrohe, Mitsubishi and Whirlpool.

The Brownstone is being developed by CDL and TID Pte. Ltd. As Singapore’s property pioneer, with over 50 years of track record, The Brownstone is CDL’s seventh EC project, after The Florida, Nuovo, The Esparis, Blossom Residences, The Rainforest and Lush Acres, all of which are fully sold.

The Brownstone Sales Gallery, located beside Sembawang MRT station, is open from 10am to 7pm daily. For enquiries, please call the sales hotline: (65) 6877 8212 / 6877 8213.