FRASERS Building’s executive condominium (EC) Parc Greenwich stirred 65 percent or 322 of its 496 devices over its launch weekend on Sept 11 and 12.
Prices started from S$ 895,000 for the two-bedroom units, S$ 1.05 million for the three-bedroom units, S$ 1.2 million for the three-bedroom-plus-study units, S$ 1.38 million for the four-bedroom devices, and S$ 1.7 million for the five-bedroom devices.
The homes cost a typical cost of about S$ 1,200 per square foot, developers Frasers Home and also CSC Land stated in a joint release on Monday.
All the two-bedroom and also five-bedroom apartments were claimed to be totally purchased, while the three-bedroom houses offered 220 of its 370 devices, and also the four-bedroom apartments sold 74 of the 98 units.
The EC also marketed 148 units or the full 30 percent designated allocation to second-time home buyers. Novice purchasers occupied 174 of the 322 devices sold.
Lee Nai Jia, deputy supervisor of the Institute of Property as well as Urban Researches (IREUS) at the National College of Singapore said: “Customers are likely drawn into the EC since they are valued less than the brand-new personal developments on sale. This fad is expected to proceed till next year, supplied no federal government intervention in the domestic markets.”
“The efficiency of EC not only displays the robust underlying demand in the optical character recognition (outside of main region) sector, yet it also reveals that the prospective purchasers remain in a stronger monetary placement than in 2015 in acquiring the EC. Besides the resilient HDB resale market supporting the upgraders, I presume that lots of buyers likewise have assistance from the parents or intergenerational transfers when acquiring the units,” he added.
Lorraine Shiow, acting chief operating officer of Singapore household at Frasers Residential property, claimed that residence purchasers were mostly attracted to the EC’s broad range of centers.
“Parc Greenwich also appeals to young families who can look forward to a variety of eating, entertainment as well as retail services along with transport nodes in the neighborhood.” she included.
A 10-minute walk from Fernvale Light Rapid Transit (LRT) station, the job makes up nine property towers of 14 storeys each, a public park, and also a low-rise landed enclave.