City Developments has sold 490 units of 600 units launched (about 82%) in its new development in Pasir Ris Grove called Coco Palms (below) over the first weekend of sales on May 17 to 18. The units were sold at an average price of about $980 psf. All the one-bedroom units have been snapped up, according to the developer.

The buyers were said to be a mix of owner occupiers and investors. While Singaporeans still made up the majority (75%) of the buyers, the rest were permanent residents and foreigners from Malaysia, China, Hong Kong, Indonesia, India, and Taiwan, as well as from Myanmar and the US. The 944-unit Coco Palms is jointly developed by CDL, Hong Leong Holdings and Hong Realty.