First Weekend Sales of Parc Botannia
Singapore – The launch of Parc Botannia by Sing Holdings and Wee Hur Holdings comes as other developers postpone their launches till the beginning of next year. It’s a sign that companies could be looking to revise their price upwards due to the positive market sentiment seen in recent months. Developer sold 230 units at an average price of S$1,270 per square foot on the first weekend of sales on Saturday. They had initially wanted to launch 150 units but eventually made more than 250 units available in the first phase with more than 500 cheques received as indication of interest by purchasers before the soft launch. This is out of the total of 735 units in the whole development spanning across four beautifully designed 22-storey towers.
It was a big day for these potential home buyers balloting a unit of this project in Sengkang. Many buyers said they were attracted to its proximity to the transport nodes such as Thanggam LRT Station, Seletar Mall and Jalan Kayu, a food enclave. They were buying the apartment for investment as the location is very accessible to the City Center with the upcoming expressway as well as Seletar Aerospace Park and Changi Airport in close-proximity, hoping to attract the well-heeled tenants such as those frequent travelers and the future huge workforce coming from the nearby Aviation Hub.
Parc Botannia is the latest large-scale project to hit the market after a quiet September and October. Sing Holdings decided to launch this project now as they felt there will be less competition coming from other projects since many other developers are holding off new sales launches till 2018.
It is sitting on a 99-year leasehold plot of land in Fernvale, adjacent to Thanggam LRT and only a few stations away from Sengkang MRT. National Parks Board will also be managing a 100,000 square-foot park adjacent to it after their completion by the developers.
According to Mr Lee, Chief Executive Officer of Sing Holdings, the strong attributes of this project have attracted an “overwhelming” mixed buyer interest with the most popular units being one and five-bedroom apartments ranging from 431 to 1,679 square foot respectively.
Apart from the beautiful landscaping, unique features and the affordable price tag, there isn’t any new condo projects in the neighborhood from the last two years. Hence, take-up rate will gain momentum going forward into 2018.