Brisk sales at iNz Residence, interest brewing at Park Place Residences

Qingjian Realty’s 497-unit iNz Residence, the first executive condominium (EC) to launch in Singapore this year, sold around 170 units on the first day of booking last Saturday...

A large crowd turned up for the preview of Park Place Residences over the weekend. (Photo: Lendlease)

Qingjian Realty’s 497-unit iNz Residence, the first executive condominium (EC) to launch in Singapore this year, sold around 170 units on the first day of booking last Saturday (11 March).

“Sales at iNz Residence is off to a brisk start,” said Li Jun, Executive Director at Qingjian Realty.

In particular, the five-bedroom maisonettes were fully sold, while 70 percent of the four-bedders were taken up. This indicates strong demand for bigger living spaces, with both unit types accounting for more than 60 percent of sales. In addition, over 80 percent of the buyers opted for the smart home packages.

Prices of the five-bedders range from $1,188,000 to $1,321,000, while the four-bedroom and two-bedroom units start from $818,000 and $490,000 respectively.

First-time buyers Dominic Siew and Jade Lim who are in their early 30s were among the first to choose their unit. “The price is definitely reasonable, given the location of iNz Residence, the quality of the home fixtures, and the smart lifestyle.”

“We especially like the video intercom system, which will really enhance our home security,” said the couple, who purchased a three-bedroom unit with the deluxe smart home package.

Meanwhile, the 429-unit Park Place Residences at Paya Lebar Quarter (PLQ) saw an influx of potential buyers following the opening of its showflat over the weekend.

“The response to our showsuite this past weekend has been overwhelming… It confirms the quality attributes and value of the location and development,” said Tony Lombardo, CEO for Lendlease in Asia, the project’s developer.

Among the prospective buyers is Debbie Lam, 31, who is considering to invest in a one-bedroom unit following the easing of the property cooling measures.

“Park Place Residences at PLQ’s attractive features stand out to me. It looks like a very nice project,” she said.

Separately, 45-year-old Kelvin Suen deposited his cheque for a unit. “The latest announcement on the property cooling measures was a very good deciding factor for me to go ahead with my purchase. I think the condominium’s strategic location, and the fact that it is part of an integrated development, make for good investment potential,” he said.

Potential buyers can still submit their expressions of interest for Park Place Residences as the showflat will remain open until 20 March, with the official launch set for 25 March.

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg