{"id":84846,"date":"2018-04-09T17:05:33","date_gmt":"2018-04-09T10:05:33","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/149-units-at-park-place-residences-sold-at-average-2000-psf\/"},"modified":"2018-04-09T18:02:46","modified_gmt":"2018-04-09T11:02:46","slug":"149-units-at-park-place-residences-sold-at-average-2000-psf","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/149-units-at-park-place-residences-sold-at-average-2000-psf\/","title":{"rendered":"149 units at Park Place Residences sold at average $2,000 psf"},"content":{"rendered":"


\nA large crowd of buyers at the Phase 2 sales launch of Park Place Residences at PLQ. (Photo: Lendlease)
\nTwo residential projects launched over the weekend (7-8 Apr) drew an overwhelming response from buyers, further boosting property market sentiment.
\nLendlease\u2019s Phase 2 sales launch of Park Place Residences at Paya Lebar Quarter (PLQ) saw 149 of the final 219 apartments snapped up over two days at an average price of $2,000 psf.
\nThis brings the total number of units sold at the 429-unit condo to 359 (84 percent).
\nMore: 315 Units At The Tapestry Sold, Strong Turnout At Park Place Residences Preview
\n\u201cThis outstanding response is testament that discerning buyers and investors recognise the value and unique offering of the units at Park Place Residences at PLQ,\u201d said Tony Lombardo, Lendlease CEO for Asia.
\nThe 99-year leasehold project comprises a mix of one-to three-bedroom units from 480 sq ft to 1,350 sq ft, with prices ranging from $900,000 to $2.2 million.
\nFirst launched for sale in March 2017, Park Place Residences sold 210 units during the initial phase, or 50 percent of the available units within one day before the showflat was closed. Prices at the time were lower at around $800,000 to $2.1 million.
\nHowever, pricing wasn\u2019t an issue as buyers said they were drawn to the project\u2019s location within an integrated development and its sustainable design.
\nFuture residents of Park Place Residences will have direct access to PLQ\u2019s 340,000 sq ft mall, which contains anchor tenants such as an NTUC FairPrice Finest supermarket, Kopitiam food court and Shaw Theatres.
\nMeanwhile, the three Grade A office towers with nearly one million sq ft of workspaces are over 50 percent committed. Notable tenants include transport operator SMRT, which is moving its headquarters to PLQ next year, while property consultancy CBRE recently announced it is taking up 32,000 sq ft of space to house up to 600 of its employees.
\nThe $3.3 billion project is directly linked to Paya Lebar MRT station, and is scheduled to complete in phases from end 2018.
\nSeparately, The Verandah Residences by Oxley Holdings sold 76 percent or 129 of its 170 units over the weekend at an average price of $1,815 psf.
\nLocated at the junction of Pasir Panjang Road and South Buona Vista Road, the freehold development comprises 167 apartments and three two-storey strata townhouses. Its design is inspired by Singapore\u2019s black and white colonial bungalows.
\nUnit sizes start from 452 sq ft for a one-bedroom up to 1,596 sq ft for a four-bedroom, while the townhouses are 2,153 sq ft each.
\nAll unit types had a good take-up rate, especially the one- and two-bedders. All one-bedroom, one-bedroom with study, two-bedroom and two-bedroom premium units were sold out.
\nIn a statement, Oxley said that 85 percent of the buyers are Singaporeans, while the remaining 15 percent are permanent residents and foreigners.
\nOxley\u2019s executive chairman and CEO Ching Chiat Kwong said the response from buyers \u201chas been very encouraging\u201d.
\n\u201cThere were a lot of enquiries for the project before the launch, and the sales progress proved that the pent-up demand was real,\u201d he noted.
\nOxley purchased the 89,620 sq ft site in July last year for $121 million, or $964 psf per plot ratio. The project is expected to be completed in Q4 2023.
\nThe Verandah Residences is Oxley\u2019s first launch, among several residential projects that it plans to launch in 2018.
\nFor the latest property news, trends, resources and expert opinions, visit our\u00a0Property News\u00a0page. Home buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…149 units at Park Place Residences sold at average ,000 psf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A large crowd of buyers at the Phase 2 sales launch of Park Place Residences...<\/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-84846","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-m4u","jetpack-related-posts":[{"id":49781,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/50-of-park-place-residences-sold-on-launch-day\/","url_meta":{"origin":84846,"position":0},"title":"50% of Park Place Residences sold on launch day","date":"March 27, 2017","format":false,"excerpt":"\r Overwhelming response seen at the one day launch of Park Place Residences last Saturday. (Photo: Lendlease) Australia-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). This represented\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":84846,"position":1},"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":111876,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/paya-lebar-quarter-by-landlease-officially-launched\/","url_meta":{"origin":84846,"position":2},"title":"Paya Lebar Quarter by Landlease officially launched","date":"October 25, 2019","format":false,"excerpt":"\r Minister for National Development and Second Minister for Finance, Lawrence Wong said that the mixed development is a \u201ctremendous opportunity to reimagine and remake Paya Lebar for the future, even for the next century\u201d. 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