Grand Dunman Condo: A Resounding Success in Singapore’s Property Market – Over 50% Units Sold During Launch Weekend!
Singapore’s property market is abuzz with excitement as Grand Dunman, the latest condominium development by SingHaiyi Group and CSC Land Group, made waves during its launch weekend. With over half of its 1,008 units sold at an impressive average price of $2,500 per square foot (psf), Grand Dunman has become the talk of the town. In this article, we delve into the reasons behind its success, the unit breakdown, and why it has captured the hearts of both homebuyers and investors alike.
A Well-Received Debut: Grand Dunman’s developers were thrilled to announce that 54.6% of the available units were sold within the first weekend of the official launch. The buyers were particularly drawn to the south-facing units with unblocked views, offering picturesque vistas of the Goodman vicinity, the sea, and beyond. This prime location attracted a wide range of buyers seeking a perfect blend of comfort, convenience, and accessibility.
Unit Breakdown and Buyer Preferences: During the launch, two-bedroom units emerged as the most sought-after option, with 77% of them being sold at a starting price of $1.55 million, equivalent to $2,330 psf. Following closely behind, three-bedroom units saw a sale of 61% of the available inventory, starting at $2.21 million with a psf price of $2,309. For one-bedroom units, 58% were snapped up, featuring a starting price of $1.09 million and $2,418 psf.
The sales breakdown revealed an interesting trend among buyers. One-bedroom units and smaller two-bedders were popular among investors, in line with past market statistics. On the other hand, a mix of investors and owner-occupiers showed keen interest in two-bedroom units that come with a study. Larger units, on the other hand, were predominantly purchased by buyers intending to reside in them.
A Melting Pot of Buyers: Grand Dunman appealed to a diverse pool of buyers, with approximately 90% being Singaporean citizens, 9% permanent residents, and 1% foreigners. However, it remains uncertain whether the foreign buyers were subject to the new additional buyer’s stamp duty rules, which saw the tax doubled to 60% in late April. Nevertheless, the condo’s attractive location and competitive pricing resonated strongly with local buyers.
The Allure of the Location: One of the key factors contributing to Grand Dunman’s remarkable success is its strategic location. Situated in Dunman Road, the development is merely a two-minute walk from Dakota MRT station, providing seamless connectivity for residents. Families also appreciate its proximity to well-regarded schools such as Kong Hwa School, Chung Cheng High School (Main), and Tanjong Katong Girls’ School.
Furthermore, the convenience of easy access to the Paya Lebar commercial hub, Suntec City, Beach Road, and the Central Business District further sweetened the deal for potential buyers. In a city where access to public transport nodes has become highly desirable, Grand Dunman’s location undoubtedly hit the mark.
Pricing and Market Sensitivity: Market analysts attribute the project’s success not only to its location but also to the developers’ careful consideration of prevailing market sentiment. By setting prices sensitively and aligning them with the “sweet spot pricing” of around $2.5 million, the developers catered to the needs of both homebuyers and investors. Additionally, the recent surge in certificate of entitlement prices further underscored the appeal of easy access to public transportation, making Grand Dunman a top choice for many in the property market.
Conclusion: Grand Dunman has undoubtedly made its mark as the best-selling project in more than two years, captivating the hearts of homebuyers and investors alike. Its record-breaking sales during the launch weekend are a testament to the allure of its prime location, thoughtfully designed units, and market-sensitive pricing. As the development gears up to obtain its temporary occupation permit in 2028, it is poised to be a landmark residential address in Singapore’s vibrant property landscape. For those seeking a piece of Singaporean paradise, Grand Dunman presents an opportunity that should not be missed.