65% of units at Parc Greenwich EC snapped up at launch

Buyers' interest in the property market continued with the Parc Greenwich executive condominium seeing brisk sales on its launch weekend.

Some 65 per cent of units - 322 out of a total of 496 available - were sold at an average price of $1,200 per square foot as at Sunday, said developer Frasers Property Singapore.

Jointly developed with CSC Land Group, the 99-year leasehold Parc Greenwich is located in Fernvale Lane off Yio Chu Kang Road and is slated to get its temporary occupation permit in 2024.

The development comprises nine towers of 14 storeys each. It offers a variety of unit sizes, ranging from two-bedroom to five-bedroom apartments, as well as penthouse units with high ceilings.

Prices start from $895,000 for a two-bedroom unit, $1.05 million for a three-bedroom unit, $1.38 million for a four-bedroom unit, and $1.7 million for a five-bedroom unit.

First-time home buyers took up 174 units out of the 322 units sold, said Frasers.

Meanwhile, second-time buyers snapped up 148 units - the full quota of 30 per cent of the total number of units in a development that can be allocated to second-time buyers at launch under the current regulations. This quota is lifted one month after the launch.

Parc Greenwich is a 10-minute walk from Fernvale LRT station, and is near the North Coast Innovation Corridor stretching from Woodlands to Seletar and Punggol, including the upcoming Punggol Digital District.

Ms Lorraine Shiow, acting chief operating officer of residential (Singapore) at Frasers Property Singapore, said the company is encouraged by the strong response.

"Home buyers are attracted to the project's comprehensive suite of facilities as well as high-quality attributes and fittings more commonly found in top-end private condominiums," she said, adding that the wellness-themed development also appeals to young families.

THE BUSINESS TIMES

A version of this article appeared in the print edition of The Straits Times on September 15, 2021, with the headline '65% of units at Parc Greenwich EC snapped up at launch'. Subscribe