Over 87 per cent of the 1,193 units at Parktown Residence in Tampines were sold during the launch weekend that commenced on February 22.

On February 23, a spokesman for UOL Group (UOL) and CapitaLand Development (CLD) reported that 1,041 units were sold. The majority of the buyers were Singaporeans acquiring homes for personal use and investment purposes.

He remarked, “Buyers were attracted to Parktown Residence’s unique position as a fully integrated residential and lifestyle development, which is 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’s general manager of residential marketing, stated that the average price for the sold units was $2,360 per sq ft (psf).

Mr. Mark Yip, CEO of real estate firm Huttons Asia, described the sales at Parktown Residence as a “phenomenal result.” He noted, “No mega projects have sold more than 1,000 units during their launch weekend,” highlighting the appeal of fully integrated developments and buyers’ confidence in the Tampines five-year masterplan for 2025 to 2030, which includes Tampines Boulevard Park located opposite Parktown Residence.

On February 22, the Tampines Town Council unveiled its five-year masterplan, which includes plans for a cycling bridge, an underpass, and an additional 7.7 km of cycling paths to be completed by 2027.

All unit types experienced strong sales, particularly the two- and three-bedroom options, with Mr. Yip noting that nearly all two-bedroom units have been sold.

According to ST, over 10,000 visitors attended Parktown’s public preview in the first three days.

Parktown consists of 12 distinct blocks that range from eight to 13 stories.

Mr. Marcus Chu, CEO of real estate agency ERA Singapore, emphasized that it is the first fully integrated development in Tampines, stating, “Integrated transport hub developments are favored by discerning home buyers and investors due to their proven potential for appreciation and high rental demand.”

Mr. Ismail Gafoor, CEO of PropNex Realty, mentioned that Parktown Residence has set a record for the highest number of units sold over a launch weekend, surpassing Emerald of Katong, which sold around 835 units during its launch weekend in November 2024.

In another development, 326 out of 501 units at Elta in Clementi Avenue 1 were sold at an average price of $2,537 psf after sales began on February 22.

Singaporeans comprised 90 per cent of the buyers, with the rest being permanent residents.

Mr. Ismail noted that over 60 per cent of the sold units were one- and two-bedroom types, with transactions occurring at prices below $2.2 million.

Mr. Chu observed that most buyers seem to be purchasing for owner-occupation, with over 98 per cent of two-bedroom units and approximately 82 per cent of three-bedroom units sold. Additionally, 78 per cent of the one-bedroom plus study units were also snapped up.

More than 4,500 visitors attended Elta’s show-flat during the preview. Elta is conveniently located one MRT stop from Jurong East and close to malls and parks.

Mr. Yip indicated that projects along Clementi Avenue 1 typically see strong sales in their first weekend, noting that the upcoming Cross Island Line will further enhance connectivity in Clementi and potentially improve the quality of tenants for Elta.

Source: https://www.straitstimes.com/singapore/over-87-of-1193-units-at-new-parktown-residence-condo-in-tampines-sold-at-launch-weekend