The average price for the projects units, according to marker sources, run within the range of $750 to $820 per square foot.
SkyPark Residences has continued to gather in a strong interest due to its comparably attractive prices and facilities that are found in most private condominiums. Last month saw the closing of its e-application (standard set of forms that a buyer is required to fill out) which drew in over 1,600 applicants, a figure that is over 3 times the available 506 units for Parc Life EC.
Parc Life EC In Spotlight
Lam pointed out that there is a very strong demand from HDB up-graders and first time buyers. He further adds that there has been an evolution in buyers’ tastes that has complicated things. However, Lam has said the goal is to meet those expectations while ensuring that they deliver product that is both desired and well within a buyers’ reach. Lam notes that the buying activity of this particular project is not exclusively restricted to Sembawang residents only, but rather it extends to towns within the vicinity, such as Woodlands and Yishun, and even further out to Jurong and Tampines Parc Life EC.
Lam shares that the buyers that they have seen have been a good mix, which has resulted in the same amount of interest for all of the units in the project, including the maisonettes, of which SkyPark Residences has 28.
Sembawang EC Parc Life
Lam believes Sembawang has strong potential for development
Lam is expecting, as they move forward, that the Parc Life EC Executive Condominium market will perform rather well and that this segment will not likely be affected by the latest cooling down measures. There is a reason for this, and that is that EC buyers will need to get rid of their HDB flats in the course of 6 months of the TOP of the project. This means that when they apply for a loan the process will take into account any existing mortgages. Adding to this is the fact that HDB has shortened the maximum tenure of a loan to 25 years. However, EC’s offer up to 30 years tenure.
New EC Parc Life Singapore
Lam also feels that the TDSR (Total Debt Servicing Ratio) framework could actually assist in boosting the demand foe Executive Condominiums rather than lowering the level of interest. He points out that the main challenge they are faced with is acquiring land. At this time there is a high level of competition. Lam has shared that the company’s future ventures will be focused on the area of Sembawang.