The 360-unit project sold 95 units when it was opened to second-time buyers, Aloft's co-developers, Tsing Kin Properties and Suntory Construction, said in a statement on Saturday. Currently, only 45 units remain unsold in the project.
The most popular choice for buyers at Aloft in Bukit Batok is the three-bedroom premium plus study, with 96 per cent (173) of the 180 units sold.
According to the statement, several factors contributed to the sales success of Aloft, including the recent surge in the tender price of an EC lot in Plantation Close, Tengah, which favoured Aloft as the only EC project to be launched this year.
The tender result for the EC lot at Plantation Close in Tengah was just released on 11 September, with a consortium comprising Hoi Hup Realty and Sunway Developments winning the tender for $348.5 million, equivalent to a plot ratio of $703 per sq ft, a new record high for an EC lot.
The Aloft opened for sale on 5 August, with a lottery on Saturday for second-time buyers who were unable to acquire a unit in the first round of sales to order. This project sold 220 units (61 per cent) on its first day of sales last month.
Aloft is very popular with first-time buyers as it is the first EC to be launched in the Bukit Batok area since 2001. When this project was opened to second-time buyers, it also drew strong interest from HDB upgraders in this area.
The option of Deferred Payment Scheme (DPS) for EC purchases was another attraction for buyers. This scheme is very attractive to EC buyers as they can avoid the current high interest rates on home loans and start repaying the loan only when the flat is delivered to them in a few years' time.
The market demand for EC projects is strong. Copen Grand in Tengah Newtown sold out within a month of its launch, while Tenet in Tampines' 62nd Street sold 93 per cent of its units when it was opened for second-time buyers to shop around, and has also sold out so far.
The Aloft has set a new EC record price for a square foot, compared to the median price of $1,340 and $1,386 for Terengganu and The Tenet respectively.
The Aloft's proximity to the future Tengah integrated transport hub and Anglo-Chinese School (Primary), as well as key office locations such as Jurong East and Jurong Innovation District, make it attractive to buyers.
