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Belgravia Ace, a project for housing on land around 72% of it sold.

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Seventy-seven units from the freehold strata land of 107 housing development Belgravia Ace were sold over the weekend.

The development includes 104 semi-detached homes and three terrace houses, with 85 units released to the market to date. It is situated on a 290,520 square feet freehold parcel on Belgravia Drive and is developed by Fairview Developments, a joint partnership between Tong Eng Group and Yeap Holdings.

Of the three terrace homes, two were sold for an average of more than S$4 million. The majority of the semi-detached houses were sold in the range of S$4.3 million to S$4.6 million, according to the report from EdgeProp.

“The strong demand for reasonably priced landed homes are largely unaffected by the cooling measures because the buyers are predominantly Singaporeans who can avoid paying the ABSD (additional buyer’s stamp duty) if they are buying their only residential property,” said Nicholas Mak, head of research and consulting at ERA

“In addition, there’s a limited new supply of all types of landed houses. Plus, the landed housing market doesn’t depend on foreign demand. Hence, the sales performance of the landed housing market doesn’t necessarily mirror that in the condominium market,” said the expert.

In District 28, Belgravia Ace is only 20 minutes from Orchard Road, Marina Bay Sands, and the central business district. It is also located near Ai Tong School and nearby shopping malls like Seletar Mall or Greenwich V.

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