In the maze of Singapore’s bustling real estate market, every property has its own narrative. In today’s spotlight, we’re focusing on a real estate story set in the highly sought-after D22 region near Jurong Lake Gardens. Introducing Lakelife Condo – a residence that, against all odds, finally found its perfect suitor after 14 months.
This sumptuous 4-bedroom Executive Condo was steeped in $100,000 of renovations and offered 1,464 sqft of urban sophistication. It came with a price tag that certainly reflected its grandeur, but what made this sale so noteworthy was its challenging obstacle: the property sat conveniently—perhaps too conveniently—adjacent to the condo’s main entrance.. There were privacy and noise concerns with the proximity to the main entrance. Our team suggested creative solutions and recommendations to mitigate the concerns which helped potential buyers see the other plus points of the home.
Strategic Nuance: Price Elasticity
The first hurdle was the price tag. As the home had more floor space than the other similar unit types being marketed, naturally this meant a higher quantum. Most buyers went through the dilemma of whether they prioritised going for the larger floor area or keeping their quantum lower. With almost an additional 200 sqft in size between the larger and smaller 4-bedrooms at an average PSF of $1,100 then, it meant an estimated difference of $220,000 between the two.
After months of stagnation, others might have recommended slashing prices dramatically. However, rather than a drastic cut, our team let the market temperature adjust itself, allowing the property to organically find its place within the price range that buyers found acceptable.
Elevating Unique Selling Points: A Deep Dive into Strategy
The concept of Unique Selling Points (USPs) is not new; it’s the bread and butter of any marketing playbook. But what made our team exceptional was that we placed these USPs under a magnifying glass, so that each detail would be amplified for our viewers. Let’s dissect this further:
USP #1: Interior Grandeur
The first USP was the property’s top-tier interior design. Anyone can say a property is well-designed, however, we emphasised the intelligent layout that catered to modern living—open spaces that foster interaction within the family, while also offering pockets of privacy for those introspective moments. It was sold not just as a condo, but as a carefully engineered space harmonising both form and function.
USP #2: Prime Location: A Green Oasis
The second USP was the condo’s surreal proximity to Jurong Lake Gardens. While mentioning location is standard practice, our realtors didn’t merely tick off this box. We explained what this means – weekend family picnics just a stone’s throw away, leisurely walks amid flora and fauna, or even morning jogs without the need to drive to a distant park. In a city-state where every square foot is at a premium, this was not just extra space; it was an extended backyard—a luxury by Singaporean standards.
USP #3: The Space Paradigm
The third USP was the 1,464 sqft of spaciousness. Now, we all know that space is a luxury in Singapore. But what our realtors did was to tie this into the greater narrative of wellbeing and life quality. The spacious layout was framed as an enabler of various lifestyles; Whether you’re a homebody who enjoys movie nights in a plush living room or a social butterfly who loves to entertain, this space was all yours to create your own reprieve in.
Visual Storytelling: A Cinematic Tour
What truly made this strategy a resounding success was the creation of a visually stunning home tour video that you can watch below. It offers potential buyers a comprehensive view of what makes this unit a real gem in the market.
The Triumph
Fourteen months and several negotiations later, our team sold the condo unit to the right buyer who appreciated the space that the home offered. They also clinched a challenged price which matched the objectives and expectations of the sellers.
As this case shows, relying on the MOP effect for ECs where we see an enthusiastic surge in transactions, may not necessarily be sufficient to achieve the exit strategy for certain units. Creative and aggressive marketing increases the opportunity to achieve the exit objectives. Resales ECs remain popular as they are generally sold at a lower price point compared to resale private condominiums and often appreciate to similar levels after the MOP. Because of this, owners can often realise significant capital gains over time.
Final Words
To prospective homeowners and investors, the tale of this Lakelife condo unit isn’t just a case study in real estate excellence. It is an affirmation that in this city-state where land is scarce but ambitions are limitless, there is no property too challenging for the right expertise and strategy.
So the next time you question whether your property has too many quirks to be sold at the price it deserves, remember the Lakelife tale and think twice. In the labyrinth of real estate, sometimes all you need is the right guide to help you find your way! If you have any questions about your property journey, or would like a second opinion on your options in the market, do contact us here for a tailored consultation with our experienced Inside Sales Team consultants.
