Parc Riviera and Queens Peak recorded impressive sales in their Saturday, November 5 launch.
Queens Peak sold 242 of its 736 units showing a warm reception by buyers. The condo by Hao Yuan Investments and located at Dundee Road recorded more sales on its 1 and 2 bedrooms, which were 90% of the total sales. The Queens Peak price is transacted at an average of $1,632 psf while the lowest price that was transacted was $1,406 psf.
(Artist Impression of Queens Peak facade)
The encouraging sales were attributed to its great connectivity using the Queenstown MRT Station close by and due to all the units being from 8th storey.
Parc Riviera sold 100 of its 752 units. The condo located on West Coast Vale offered a one-tier pricing scheme for all units up to 15th floor. As a result, over 95% of the sold units were those under the pricing scheme. The Parc Riviera price is transacted at $1,150 psf with 80% of the buyers opting for 1 and 2 bedders.
Initially, the pricing scheme was intended for Saturday. However, its extension to Sunday did not generate more interest since just a few more units were sold.
The projects’ sales performance may have been due to the location. “Another factor could have been the distribution of smaller units in the project,” said Lim Yew Soon, managing director EL Development.
At Queens Peak, smaller units are located on lower floors. On Parc Riviera, similar types of units are located on each floor to maintain consistency since prefabricated pre-finished volumetric construction – PPCV was used.
“It may pose a challenge to have varying unit types stack on each other when using PPVC since it would require the erection of beam and columns on every floor,” explained Lim.
However, Lim revealed that Parc Riviera would revert to its initial price list.
“The higher floors units had been given steep discounts. We cannot continue with that all the time and we have no plans for any further discounts. The property is still attractive on its original pricing,” said Lim.