CapitaLand’s LyndenWoods sells over 94% of units on launch day

This is CLD's first residential project in Singapore Science Park.

CapitaLand Development (CLD) sold over 94%, or 324 out of 343 units at an average price of about $2,450 per square foot on launch day.

This was CLD’s first residential project located in Singapore Science Park.

According to CLD, all unit types of the property were well received. LyndenWoods is also slated to achieve the BCA Green Mark Platinum certification with all five sustainability badges.

“LyndenWoods has appealed to buyers who value the convenience of living near work, with access to modern amenities and green spaces. It also represents CLD’s blueprint to develop more homes that meet the evolving lifestyle needs of homebuyers while delivering long-term investment value,” Ronald Tay, CEO of CLD Singapore, said.

Ismail Gafoor, CEO of PropNex Realty, noted that LyndenWoods is the first private residential project launch following the revision to the Seller’s Stamp Duty (SSD) on 4 July.

“Despite the tightened SSD measure and prevailing market uncertainties, buyers and investors appear largely undeterred. The encouraging take-up rate reflects sustained demand for well-located residential developments and suggests that underlying market fundamentals remain robust,” Gafoor said.

For Mark Yip, CEO of Huttons Asia, the prices for LyndenWoods were very attractive to buyers.

“The starting prices of $1.39 million for a 2-bedroom unit and $1.95 million for a 2+S unit were similar to some projects in the Outside Central Region. Many of the units sold fall within the sweet spot price of up to $2.5 million which most Singaporeans can accept,” Yip said.

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