{"id":49781,"date":"2017-03-27T11:00:22","date_gmt":"2017-03-27T04:00:22","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/50-of-park-place-residences-sold-on-launch-day\/"},"modified":"2017-03-27T11:01:42","modified_gmt":"2017-03-27T04:01:42","slug":"50-of-park-place-residences-sold-on-launch-day","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/50-of-park-place-residences-sold-on-launch-day\/","title":{"rendered":"50% of Park Place Residences sold on launch day"},"content":{"rendered":"


\nOverwhelming response seen at the one day launch of Park Place Residences last Saturday. (Photo: Lendlease)
\nAustralia-based developer Lendlease sold 215 (50 percent) of the 429 available units at Park Place Residences in Paya Lebar Quarter (PLQ) during the first day of launch last Saturday (25 March).
\nThis represented over 100 percent of the planned sales under the first phase, making it one of Singapore\u2019s most successful private condominium launches in recent years.
\nLendlease had originally intended to release only 40 percent of the units last weekend, but due to overwhelming response from buyers who queued from early morning, an additional 10 percent of the condo units were launched for sale.
\nPrices of the units ranged from around $800,000 for a one-bedroom apartment to $2.1 million for a three-bedroom premium unit, which works out to $1,600 psf to over $2,000 psf.
\n\u201cThe strong sales show our buyers confidence in the quality of the project and in Lendlease,\u201d said Tony Lombardo, CEO for Asia.
\nOne of the buyers was Patrick Yap, 39, who purchased a one-bedder for investment purposes. \u201cPark Place Residences is part of an integrated development (PLQ) with an upcoming retail mall and offices. Together with its convenient location, I am confident that it will attract many tenants,\u201d he said.
\nSimilarly, 31-year-old Huang Zhenbiao and his wife bought a two-bedroom apartment after being attracted to the project\u2019s strategic location.
\n\u201cThe development is on the Paya Lebar MRT interchange, and we can get to the Central Business District (CBD) quickly. There is potential development around the area too, which is another plus point.\u201d
\nMeanwhile, prices of the remaining units at Park Place Residences are expected to increase when details of other upcoming developments in the vicinity are announced, especially in the greater Paya Lebar Central area.
\nThe location is also emerging as a new vibrant hub in Singapore, given its position on the double MRT Interchange and proximity to the CBD and Changi Airport.
\nFollowing the successful launch, Lendlease will now temporarily close the showflat. Details on the next phase of sales are expected to be revealed later this year, while construction of the entire development is expected to be completed by early 2019.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…50% of Park Place Residences sold on launch day<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Overwhelming response seen at the one day launch of Park Place Residences last Saturday. (Photo:...<\/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-49781","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-cWV","jetpack-related-posts":[{"id":82468,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/phase-2-of-park-place-residences-to-launch-at-higher-prices\/","url_meta":{"origin":49781,"position":0},"title":"Phase 2 of Park Place Residences to launch at higher prices","date":"March 12, 2018","format":false,"excerpt":"\r Artist\u2019s impression of Paya Lebar Quarter. Source: Lendlease Lendlease is set to launch Phase 2 of the 429-unit Park Place Residences at mixed-use Paya Lebar Quarter on 7 April amid a property market upturn.\u00a0 At a media briefing on Monday (12 Mar), the Australian-based developer revealed that the final\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":46819,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lendlease-to-launch-park-place-residences-in-end-march\/","url_meta":{"origin":49781,"position":1},"title":"Lendlease to launch Park Place Residences in end March","date":"March 6, 2017","format":false,"excerpt":"\r Artist\u2019s impression of Park Place Residences at Paya Lebar Quarter. Source: Lendlease Lendlease is set to launch Park Place Residences at Paya Lebar Quarter (PLQ) on 31 March, marking its maiden foray into residential development in Singapore. \u201cWe are excited to be entering Singapore\u2019s residential property market with Park\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84846,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/149-units-at-park-place-residences-sold-at-average-2000-psf\/","url_meta":{"origin":49781,"position":2},"title":"149 units at Park Place Residences sold at average $2,000 psf","date":"April 9, 2018","format":false,"excerpt":"\r A large crowd of buyers at the Phase 2 sales launch of Park Place Residences at PLQ. (Photo: Lendlease) Two residential projects launched over the weekend (7-8 Apr) drew an overwhelming response from buyers, further boosting property market sentiment. Lendlease\u2019s Phase 2 sales launch of Park Place Residences at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":83729,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/315-units-at-the-tapestry-sold-strong-turnout-at-park-place-residences-preview\/","url_meta":{"origin":49781,"position":3},"title":"315 units at The Tapestry sold, strong turnout at Park Place Residences preview","date":"March 26, 2018","format":false,"excerpt":"\r Launch crowd at The Tapestry showflat. (Photo: CDL) Two private condominium showflats opened their doors to property seekers over the weekend, attracting keen interest amid the improved market sentiment. The Tapestry by City Developments Limited (CDL) commenced sales on Saturday (24 Mar), while Phase 2 of Lendlease\u2019s Park Place\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":47827,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/brisk-sales-at-inz-residence-interest-brewing-at-park-place-residences\/","url_meta":{"origin":49781,"position":4},"title":"Brisk sales at iNz Residence, interest brewing at Park Place Residences","date":"March 13, 2017","format":false,"excerpt":"\r A large crowd turned up for the preview of Park Place Residences over the weekend. (Photo: Lendlease) Qingjian Realty\u2019s 497-unit iNz Residence, the first executive condominium (EC) to launch in Singapore this year, sold around 170 units on the first day of booking last Saturday (11 March). \u201cSales at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":47409,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-place-residences-to-open-showflat\/","url_meta":{"origin":49781,"position":5},"title":"Park Place Residences to open showflat","date":"March 10, 2017","format":false,"excerpt":"\r Artist\u2019s impression of Park Place Residences at Paya Lebar Quarter. Source: Lendlease Australian property developer Lendlease plans to launch the Park Place Residences condominium at Paya Lebar Quarter (PLQ) on 25 March. It also announced unit prices at the 99-year leasehold project: the 117 one-bedroom apartments will be priced\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/49781"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=49781"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/49781\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=49781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=49781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=49781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}