Parc Riviera’s developer EL Development sold 43 of its units in a span of one week between Feb 14 and Feb 21. This made the West Coast Vale development to be a top-selling condominium of the week. The high sales could have been spurred by the sale of adjoining site to China Construction on Feb 15.
The Clement Canopy, which is 2km away from Parc Riviera, could also have contributed to the interest. The development had its 200 of its 250 units sold during its launch weekend.
In that one week, the majority of the sold units were condos of 1 and 2 bedrooms with prices ranging from $595,000 for a unit of 463 sq ft to $1.37 million for a penthouse of 1,421 sq ft.
(An artist's impressions of Parc Riviera)
“The Parc Riviera prices are rather affordable for homebuyers with a 2-bedroom unit being priced between $700,000 and 800,000,” said Kelvin Fong PropNex executive director while attributing the sales at Parc Riviera to pricing.
Parc Riviera is a condo on leasehold of 99 years near the Pandan Reservoir. It has 1 bedroom to 4 bedrooms units with approximately 65% of units being 1 and 2 bedders. So far, according to the caveats lodged, the units sold are 218.
The Glades is another project whose sales picked with 12 units being sold in the Feb 14-21 week. This was a rise from 2-4 units sold in the previous weeks this year.
The Glades, which is jointly developed, by China Vanke and Keppel Land received its TOP in January. So far, above 600 of the 726 units have been sold at the 99-year lease development. According to Fong, the high interest is because the investors can rent the units immediately while owner-occupiers can move in right away.
Not far from The Glades is Grandeur Park Residences, which could have helped to stir interest. The project by CEL Development is planned for launch on March 4, 2017. The preview weekend had approximately 10,000 people attend its preview weekend. The average Grandeur Park Residences price for the units will be $1,350 psf.
The week’s best selling project is The Santorini by MCC Land, which saw its 18 units sold. The Tampines Street 86 condo has 56% or 337 of its 597 units sold.