According to MediaCorp's English-language news website TODAY, the 275-unit Blossoms by the Park received a large number of buyers on its first day of trading. By 7pm (April 30), 205 units had been sold at an average price of $2,423 per square foot.
Of the buyers, 96 per cent were Singapore citizens or permanent residents, while another 4 per cent were foreign buyers.
The government announced last month on the 26th that it would increase the Additional Buyer's Stamp Duty (ABSD) with effect from the 27th in order to promote a sustainable property market.
Mark Yip, chief executive of Huttons Asia, said that according to the percentage, Bosun Court in the Bonavista area was the best-selling project in the Rest of Central Region (RCR) so far this year.
He said the project is estimated to have over 90 per cent first-time buyers and is therefore not affected by the property cooling measures.
He also shared that location was also a factor in sales, with homes in the One-North area being attractive investments.
He added: "The cooling measures are targeting a small group of buyers and first-time buyers are not affected. The excellent sales results will give those buyers who are on the fence the confidence to choose to purchase a home when their finances allow."
For his part, Lim Yau Soon, Managing Director of EL Development, the developer of the Bosun Court project, expressed delight at the project's sales.
Marcus Chu, chief executive of real estate agency ERA Realty Network, said that in most cases, more than 80 per cent of home buyers in the Rest of Central Region (RCR) are Singaporeans who "may not be affected by the additional buyer's stamp duty or will not be affected much."
Under the new property cooling measures, the Additional Buyer's Stamp Duty (ABSD) will be increased from 17% to 20% for Singapore citizens buying a second home.
For Singapore citizens who purchase third and more homes, and Singapore permanent citizens who purchase second homes, the SSD will be increased from 25% to 30%.
For third and more residential properties purchased by permanent residents, the SSD will be increased from 30% to 35%.
For foreigners purchasing any residential property, the SSD will increase from 30% to 60%.
