SINGAPORE, 5 March 2023 – THE BOTANY AT DAIRY FARM, the latest resortstyle living condominium project in the Dairy Farm area, has garnered a take-up rate of 48% during its public launch. Sim Lian Group reported 187 of 386 units sold as of 4 March 2023. Buyers were well represented by a balanced mix of both owner-occupiers and investors.
“The take-up rate of 48% has surpassed our expectations and we believe it is a strong performance, reflecting the genuine demand for mass-market homes amidst the limited unsold OCR new private home inventory,” said Mr Ismail Gafoor, Chief Executive Officer, PropNex.
Notably, 100% of the 36 one-bedroom units and 93% of the 104 twobedroom units in The Botany were sold. In addition, more than 20% of the 175 three-bedroom units, 57 four-bedroom units and 14 five-bedroom units were taken up.
Singaporeans made up 85% of the total buyers, while Permanent Residents and foreign buyers accounted for 15%, comprising of those from Germany, Switzerland and other parts of Asia.
Couples and smaller families mainly purchased the one-bedroom and two-bedroom units, while larger families seeking larger living spaces favoured the three, four and five-bedroom units.
Buyers from all around Singapore, including those who appreciate its close proximity to both Singapore's largest Bukit Timah Nature Reserve and Dairy Farm Nature Park. The majority of buyers, at over 35%, are residents of Jurong, Hillview, Bukit Panjang, and Choa Chu Kang, while around 20% come from the North-East and East regions of Singapore. More than 10% of sales are recorded from buyers in the Core Central region.
“The robust take-up of units at The Botany at Dairy Farm on the first day of public booking reflects the healthy demand for suburban condominiums,” said Mr Marcus Chu, Chief Executive Officer, APAC Realty and ERA Asia Pacific.
“Our research shows that HDB upgraders and investors are a significant source of demand for these properties, as evidenced by the fact that 52% of condominium units transacted in the Dairy Farm area were purchased by buyers with HDB addresses.”
Apart from its proximity to nature reserves, The Botany at Dairy Farm's location within an international enclave near the German European International School (GESS) presented an ideal investment opportunity for homebuyers.
During the preview period over the past fortnight, the project achieved a strong conversion rate of 40% from the total number of cheques collected from interested buyers, reflecting the project's popularity among homebuyers.
Homebuyers expressed keen interest in the project, citing its close proximity to Dairy Farm Nature Park, excellent accessibility via public transport, numerous retail amenities at the upcoming Dairy Farm Mall, and its location near the German European School Singapore (GESS), which is particularly attractive to European families.
Scheduled to receive its Temporary Occupation Permit (TOP) by 2027, The Botany at Dairy Farm offers excellent connectivity as it is located a two-minute drive away from the Bukit Timah Expressway (BKE), which links to the Pan Island Expressway (PIE) and Kranji Expressway (KJE). The development is conveniently located within walking distance to Hillview MRT Station (DT3), and is near renowned schools like the German European School Singapore (GESS), CHIJ (Our Lady Queen of Peace) Primary School, and Bukit Panjang Primary School. Moreover, direct buses are readily available to Orchard, Somerset, Woodlands, Marine Parade, and Eunos.
Interested homebuyers can visit The Botany at Dairy Farm sales gallery at 50A Dairy Farm Walk, which is open from 10am to 7pm daily.
ABOUT SIM LIAN
Sim Lian has been building homes for families in Singapore for over 40 years. The company enjoyed a reputable standing as an established developer of residential, commercial and retail developments and construction group with an extensive portfolio of developments built on the core foundations of prime location, quality workmanship and efficient space planning.
Sim Lian’s impressive list of property development projects include The Lincoln Residences, Rochelle at Newton, Viz at Holland, Hillion Residences, Clover by the Park, The Pearl at Mount Faber, A Treasure Trove, Waterview and Treasure Tampines. Retail and office developments include Vision Exchange and Hillion Mall.
Exquisite craftsmanship and finishing, dedicated attention to intricate details and carefully thought through designs are the criteria the Group adhere to in delivering quality homes. These are the distinctive hallmarks that are reflected in the Sim Lian brand, having been ranked amongst the Top 10 Developers in Singapore by BCI Asia in 2015 and 2016.
Evolving in tandem with market conditions over the years, the Group remains committed to creating quality living and working spaces that make smart investments for the future of individuals, families and businesses.