8M Residences only sold 4 out of 68 units since May Launch

Industry observers said the property at Margate Road is overpriced at $2000 to $2300 psf.

Singapore Business Review's spotcheck with Huttons Real Estate Group agents confirmed that the 20-storey freehold development which was launched on May 25 managed to only sell 4 out of 68 units to-date.

Estmated price for the smallest unit at 527sft of 8M Residences is $1.1m but an industry observer who requested anonymity commented that it should only be $700,000.

"I think it's overpriced for a property with very small units and swimming pool that can just actually accommodate 2 swimmers. I would buy it for $700K," he said.

Another observer meanwhile said that price psf for 8M Residences should not go beyond $1,600.

Complete Price List of 8M Residences:

Main attractions of 8M Residences according to property agents include:

• Prime Location. Most Prestigious Address in District 15. 
• Conveniently located between ECP and PIE
• Nested in the middle of Singapore 3 Business Hubs, Paya Lebar Commercial Hub, Changi Business Hub and Marina Bay Financial District which guarantees good rental clients and high yield.
• Efficient layout without Bay Windows and Planters 
• All Units offer single loading providing maximum ventilation and sunlight into the unit.
• State-of -Art gym pairing with other wellness and lifestyle facilities
• Surrounded by good reputable schools namely Haig Girls, Tanjong Katong Primary & Secondary, Chung Cheng High, Kong Hwa Primary, Tao Nan School and Dunman High School. 

The property's developer is Sustained Land and is expected to receive TOP on June 2017.

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