Over 87% of 1,193 Parktown Residence units in Tampines sold at launch weekend
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SINGAPORE – More than 87 per cent of the 1,193 units in Parktown Residence in Tampines were sold during the launch weekend starting on Feb 22.
On Feb 23, a spokesman for UOL Group (UOL) and CapitaLand Development (CLD) said 1,041 units were snapped up. Most of the buyers are Singaporeans purchasing for their own occupation and investment.
He added: “Buyers were drawn to Parktown Residence’s unique status as a fully integrated residential and lifestyle development, directly connected to a retail mall, the future Tampines North MRT station, a bus interchange, a green boulevard, a community club and a hawker centre.”
Mr Anson Lim, UOL general manager of residential marketing, said the average price achieved for the sold units was $2,360 per sq ft (psf).
Mr Mark Yip, chief executive of real estate company Huttons Asia, said Parktown Residence achieved a “phenomenal result”. “No mega projects had sold more than 1,000 units on launch weekend,” he noted.
“This shows the popularity of fully integrated developments and buyers’ trust in the Tampines five-year masterplan for 2025 to 2030. This includes Tampines Boulevard Park, which is opposite Parktown Residence.”
The Tampines Town Council on Feb 22 launched its five-year masterplan for a cycling bridge, an underpass and another 7.7km of cycling paths, among other goals, by 2027.
All unit types saw good take-up rates with the two- and three-bedroom options selling the most, said Mr Yip, adding that the two-bedroom offerings are almost fully sold.
ST reported on Feb 17 that over 10,000 visitors thronged Parktown in the first three days of its public preview.
Parktown features 12 distinct blocks ranging from eight to 13 storeys.
Noting that it is the first fully integrated development in Tampines, Mr Marcus Chu, chief executive of real estate agency ERA Singapore, said: “Integrated transport hub developments are popular with astute home buyers and investors as they have demonstrated to have good upside potential and high rentability.
“Rental data suggest that tenants are willing to pay higher rents for convenience to enjoy more ‘me’ time as transport, dining, shopping and lifestyle activities are all at the doorstep.”
Mr Ismail Gafoor, chief executive of PropNex Realty, said the Parktown Residence project holds the record for the highest number of units moved over a launch weekend, besting Emerald of Katong, which sold about 835 units during its launch weekend in November 2024.
Elsewhere, 326 units of the 501-unit Elta in Clementi Avenue 1 have been sold at an average price of $2,537 psf after sales bookings began on Feb 22.
Singaporeans made up 90 per cent of the buyers, with the remaining being permanent residents.
Mr Ismail said among the units sold, over 60 per cent were one- and two-bedroom types, and were transacted at prices below $2.2 million.
Mr Chu said most seem to be buying for owner-occupation, and over 98 per cent of the two-bedroom units and some 82 per cent of the three-bedroom ones were snapped up.
He added that 78 per cent of the one-bedroom plus study units were also taken up.
More than 4,500 visitors were at Elta’s show-flat during the preview. Elta is one MRT stop from Jurong East and near malls and parks.
Mr Yip said projects along Clementi Avenue 1 typically sell well on the first weekend, noting that the upcoming Cross Island Line will enhance the connectivity in Clementi and potentially increase the quality tenant pool for Elta.
Source: By Nadine Chua / The Straits Times
On Feb 23, a spokesman for UOL Group (UOL) and CapitaLand Development (CLD) said 1,041 units were snapped up. Most of the buyers are Singaporeans purchasing for their own occupation and investment.
He added: “Buyers were drawn to Parktown Residence’s unique status as a fully integrated residential and lifestyle development, directly connected to a retail mall, the future Tampines North MRT station, a bus interchange, a green boulevard, a community club and a hawker centre.”
Mr Anson Lim, UOL general manager of residential marketing, said the average price achieved for the sold units was $2,360 per sq ft (psf).
Mr Mark Yip, chief executive of real estate company Huttons Asia, said Parktown Residence achieved a “phenomenal result”. “No mega projects had sold more than 1,000 units on launch weekend,” he noted.
“This shows the popularity of fully integrated developments and buyers’ trust in the Tampines five-year masterplan for 2025 to 2030. This includes Tampines Boulevard Park, which is opposite Parktown Residence.”
The Tampines Town Council on Feb 22 launched its five-year masterplan for a cycling bridge, an underpass and another 7.7km of cycling paths, among other goals, by 2027.
All unit types saw good take-up rates with the two- and three-bedroom options selling the most, said Mr Yip, adding that the two-bedroom offerings are almost fully sold.
ST reported on Feb 17 that over 10,000 visitors thronged Parktown in the first three days of its public preview.
Parktown features 12 distinct blocks ranging from eight to 13 storeys.
Noting that it is the first fully integrated development in Tampines, Mr Marcus Chu, chief executive of real estate agency ERA Singapore, said: “Integrated transport hub developments are popular with astute home buyers and investors as they have demonstrated to have good upside potential and high rentability.
“Rental data suggest that tenants are willing to pay higher rents for convenience to enjoy more ‘me’ time as transport, dining, shopping and lifestyle activities are all at the doorstep.”
Mr Ismail Gafoor, chief executive of PropNex Realty, said the Parktown Residence project holds the record for the highest number of units moved over a launch weekend, besting Emerald of Katong, which sold about 835 units during its launch weekend in November 2024.
Elsewhere, 326 units of the 501-unit Elta in Clementi Avenue 1 have been sold at an average price of $2,537 psf after sales bookings began on Feb 22.
Singaporeans made up 90 per cent of the buyers, with the remaining being permanent residents.
Mr Ismail said among the units sold, over 60 per cent were one- and two-bedroom types, and were transacted at prices below $2.2 million.
Mr Chu said most seem to be buying for owner-occupation, and over 98 per cent of the two-bedroom units and some 82 per cent of the three-bedroom ones were snapped up.
He added that 78 per cent of the one-bedroom plus study units were also taken up.
More than 4,500 visitors were at Elta’s show-flat during the preview. Elta is one MRT stop from Jurong East and near malls and parks.
Mr Yip said projects along Clementi Avenue 1 typically sell well on the first weekend, noting that the upcoming Cross Island Line will enhance the connectivity in Clementi and potentially increase the quality tenant pool for Elta.
Source: By Nadine Chua / The Straits Times