SINGAPORE – Buyers’ interest in the property market continued with the latest executive condominium Park Greenwich which recorded strong sales during its launch weekend.
Some 65% of the units – 322 out of a total of 496 available – were sold for an average price of $ 1,200 per square foot (psf) on Sunday (September 12), developer Frasers Property Singapore said.
Developed jointly with CSC Land Group, the 99-year-old Park Greenwich leasehold is located at Fernvale Lane on Yio Chu Kang Road and is expected to obtain a temporary occupancy permit in 2024.
The development includes nine residential towers of 14 floors each. It offers a variety of unit sizes, ranging from two-bedroom to five-bedroom apartments, as well as penthouse units with high ceilings.
Prices start from $ 895,000 for a two-bedroom unit, $ 1.05 million for a three-bedroom unit, $ 1.38 million for a four-bedroom unit and 1.7 million. dollars for a five-bedroom unit.
First-time homebuyers took 174 units of the 322 units sold, Frasers said.
Meanwhile, second-time buyers have seized 148 units – the entire 30 percent quota of the total number of units in a development that can be allocated to second-time buyers at launch under the current regulations. This quota of first-time buyers will be lifted one month after the launch.
Greenwich Park is a 10-minute walk from Fernvale LRT station and close to the North Coast Innovation Corridor that stretches from Woodlands to Seletar and Punggol, including the future digital district of Punggol.
Ms Lorraine Shiow, acting COO of Residential (Singapore) at Frasers Property Singapore, said the company was encouraged by the strong response.
“Homebuyers are drawn to the full range of project facilities as well as the high-quality attributes and amenities more commonly found in high-end private condominiums,” she said, adding that the development on the theme of well-being also appealed to young families.