The 628-unit executive condominium project Parc Life on Sembawang Avenue is available for sale immediately. Interested application are to contact Developer's Hotline : +65 6969 2255. —
Jointly developed by Frasers Centrepoint Ltd and Keong Hong Holdings, the project is the only EC located next to a park, namely, Canberra Park.
Frasers Centrepoint is one of the biggest developers in the northern region, and over the years, it has developed eight ECs, including the upcoming Parc Life.
Even though Parc Life is the second EC project to be launched in Sembawang, following Qingjian Realty’s The Visionaire, sales volume has been impressive.
Beside The Visionaire is another executive condominium, The Brownstone jointly developed City Development Limited and TID.
Most EC buyers prefer projects that are located within a mature HDB estate, and close to amenities and public transport. Parc Life is said to be a five- minute walk to the Sembawang integrated hub comprising the Sembawang MRT and bus interchange next to Sun Plaza mall. Sembawang Shopping Centre is also in the vicinity.
Adjacent to Parc Life is Skypark Residences, an EC developed jointly by JBE Holdings and Keong Hong. To date, the 506-unit Skypark Residences is almost fully sold and the project is scheduled for completion soon. Unit prices at Parc Life are in the range of $770 to $800 psf.
Demand for ECs has increased since the start of 2016 with the successful launch of Sim Lian Group’s Wandervale in Choa Chu Kang, where more than 50% of its 534 units were sold during the launch weekend. Prices averaged $755 psf. The gap between EC prices and 99-year leasehold condos in the same neighbourhood has widened from 15% in 2009 to about 30% today.
The number of ECs sold in 2015 has also increased compared to 2014, especially following the $2,000 increase in the monthly-household- income ceiling for EC buyers last August from $12,000 to $14,000. It had increased sales in both new launches as well as existing launches with unsold units, he adds.
For more details on other projects, kindly refer to new launch condo or contact Developer's Hotline +65 6969 2255
Release ID: 206111