{"id":32663,"date":"2016-11-02T12:55:35","date_gmt":"2016-11-02T05:55:35","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/parc-riviera-rolls-out-one-tier-prices-for-early-buyers\/"},"modified":"2016-11-02T13:14:59","modified_gmt":"2016-11-02T06:14:59","slug":"parc-riviera-rolls-out-one-tier-prices-for-early-buyers","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/parc-riviera-rolls-out-one-tier-prices-for-early-buyers\/","title":{"rendered":"Parc Riviera rolls out one-tier prices for early buyers"},"content":{"rendered":"


\nUnits of the same type from the second floor to the 15th floor will carry the same prices, said developer EL Development.
\nProperty developer EL Development will offer a one-tier pricing scheme for its Parc Riviera condominium during the project\u2019s soft launch this Saturday, reported The Straits Times.
\nThe scheme will see units of the same type from the second floor to the 15th floor carrying the same prices.
\nA 603 sq ft two-bedroom unit, for instance, will be priced at $725,000, regardless of whether it is located on the second floor, the 15th floor or anywhere in between. Units located higher up the two 36-storey towers will have higher prices.
\nEL Development Managing Director Lim Yew Soon revealed that he came up with the novel strategy to give early buyers \u2018maximum benefits\u2019.
\nTypical early bird promotions that advertise units going for \u2018$5xx,000\u2019 usually leave buyers guessing a unit\u2019s price as well as its level. He describes this approach as clich\u00e9d and \u2018a bit old-fashioned\u2019.
\n\u201cWe are telling people that the price starts from $550,000 for the one-bedroom (unit). We feel that $550,000 is an attractive price, even at the lower levels. But now that we have extended the price to 15 floors, it will be even more attractive,\u201d he said.
\nLocated near Pandan Reservoir, Parc Riviera comprises two 369-storey towers and a four-storey carpark. Sizes for the units range between 463 sq ft for a one-bedder and 1,711 sq ft for the biggest four-bedder. Around 64 percent of the development contain one- and two-bedroom units, said El Development.
\nLim noted that the price difference for units on the 15th and 16th levels will be \u2018substantial\u2019, by around five percent.
\nMeanwhile, property experts are optimistic of the scheme. In fact, PropNex Realty CEO Mohamed Ismail expects the strategy to be effective.
\n\u201cThis is one of the first times when a developer has dangled this type of carrot. This strategy will likely get greater interest from consumers as they have an incentive to come early to make up their minds, to get discounted prices for higher floors. There are real savings for the buyer,\u201d he said.
\nOng Kah Seng, Director of R\u2019ST Research, on the other hand, said the strategy\u2019s main purpose is to encourage buyers to \u2018snap-up\u2019 units on the higher floors.
\nHe added that units located on the higher floors of a 20-storey condominium are typically more expensive by up to 15 percent compared to those located within the middle levels.
\nAlthough the scheme could mean that lower floor units may stay unsold for a while, this is immaterial since \u201cthe project would already have achieved a fairly good sales rate, resulting in the project achieving good break-even sales or even marginal profits\u201d, said Ong.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Parc Riviera rolls out one-tier prices for early buyers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Units of the same type from the second floor to the 15th floor will carry...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-32663","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-8uP","jetpack-related-posts":[{"id":33340,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/condo-sales-start-for-queens-peak-parc-riviera\/","url_meta":{"origin":32663,"position":0},"title":"Condo sales start for Queens Peak, Parc Riviera","date":"November 7, 2016","format":false,"excerpt":"\r Parc Riviera sold more than 100 units on Saturday, offering an unconventional pricing scheme for units from the lowest floor to the 15th floor. 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