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Thread: New 496 units EC Parc Greenwich

  1. #1

    Default New 496 units EC Parc Greenwich

    New 496 units EC Parc Greenwich at Sengkang preview in July 2021.

    YOU wouldn't want to Miss


    E-App : 22 July - 02 Aug 2021
    Price Release & Ballot Tickets Drop: 4 & 5 Aug 2021
    Balloting: 6 Aug 2021
    Booking : 07 Aug 2021
    (2BR to 5BR premium, ranging from 786 to 1679 sf)

    Check out on Parc Greenwich



    Key values of Parc Greenwich beside price and subsidy provided:-
    Opposite Landed Enclave (Low Density)
    Walking distance to Greenwich Village with supermarket and amenities and minutes drive to Seletar Mall
    Minutes drive to nature parks & country club
    Livable 2BR to 5BR premium, ranging from 786 to 1679 sf

  2. #2
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    Default Re: New 496 units EC Parc Greenwich

    https://www.edgeprop.sg/property-new...-neighbourhood

    Parc Greenwich taps low EC supply in the Seletar neighbourhood

    By Cecilia Chow
    EdgeProp Singapore

    August 24, 2021



    SINGAPORE (EDGEPROP) - Executive condo (EC) Parc Greenwich will open for e-application on Aug 26, with sales bookings to start on Sept 11. The EC is developed by Singapore-listed Frasers Property and CSC Land Group in an 80:20 joint venture.

    Parc Greenwich is located at the corner of Sengkang West and Yio Chu Kang Roads, with an entrance from Fernvale Lane. The 99-year leasehold residential development is just across the road from Greenwich V, with amenities such as Cold Storage supermarket, 7-Eleven, cafes such as Awfully Chocolate, Bakery Cuisine and Cedele’s as well as Chinese enrichment centre Hua Language Centre and Anytime Fitness gym.

    Adjacent to Parc Greenwich is an upcoming public park, and in future, there will be a side gate for residents to enter the park directly. The project sits on a 184,385 sq ft, 99-year leasehold site and contains nine 14-storey condominium blocks with a total of 496 units. Typical units are a mix of two- to five-bedroom apartments, with sizes ranging from 786 to 1,464 sq ft.

    Read more at:
    https://www.edgeprop.sg/property-new...-neighbourhood

  3. #3
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    Default Re: New 496 units EC Parc Greenwich

    Frasers' Parc Greenwich EC another test of OCR demand

    Pricing attention on the Fernvale development comes after the launch of Pasir Ris 8 condominium that attracted multiple price hikes, prime psfs

    Aug 30, 2021


    FRASERS Property's latest executive condominium (EC) project may offer another test of demand for outside of central region (OCR) properties.

    The pricing attention comes as in July, the launch weekend of Pasir Ris 8 condominium saw six rounds of price increases in a single day.

    While 85 per cent of the 487 units at the 99-year leasehold integrated development were sold at an average price of nearly S$1,600 per square foot (psf) as at the launch weekend last month, the prices for units ranged from S$1,400 psf to S$2,000 psf.

    A S$2,000 psf price is usually associated with projects in prime locations.

    On Sept 11, Frasers will be launching Parc Greenwich at Fernvale Lane. The 99-year leasehold property that spans 184,385 square feet (sq ft) is in District 28, and is a 10-minute walk from Fernvale Light Rapid Transit (LRT) station.

    Jointly developed with CSC Land Group, Parc Greenwich comprises nine residential towers of 14 storeys each, a public park, and a low-rise landed enclave.

    Its 496 units comprise two- to five-bedroom apartments, with a starting price of S$895,000 for two-bedroom units. Ranging from 786 sq ft (for a two-bedroom unit) to 1,679 sq ft (five-bedroom penthouse), each unit type also has a penthouse option.

    Frasers said that prices go up to a starting price of S$1.055 million for a three-bedroom unit, and S$1.375 million for four-bedroom units.

    Prices of five-bedroom units start from S$1.695 million.

    The EC is due to achieve its Temporary Occupation Permit in 2024, Frasers said.

    Lee Nai Jia, deputy director of The Institute of Real Estate and Urban Studies (IREUS) at the National University of Singapore, said that sales of Pasir Ris 8 showed that the demand for OCR homes and its buyers' budgets are "higher than initial expectations".

    "The hot Housing Development Board (HDB) resale market likely encouraged more upgraders into the market, given the attractive prices that can be fetched," he said. "Additionally, the increasing prices of new sales may trigger purchase decisions."

    "I think strong demand will persist until the construction sector is able to resolve its manpower issues and help divert demand away from the HDB resale market," Dr Lee added.

    Lee Sze Teck, senior director and head of research at Huttons, said Parc Greenwich is the first EC launch in District 28 in eight years and the only EC launch in the third quarter of 2021.

    Among all the districts where ECs are built, Districts 20 and 28 have the lowest supply of ECs, he said.

    He noted that unsold EC units, which are a public-private housing hybrid, have been trending down since Q1 2020; demand for the asset class has been "stable".

    Frasers currently has showflats and virtual tours for Parc Greenwich's three-bedroom-with-study and four-bedroom apartments. Its e-applications began on Thursday and will end on Sept 6.

    Over the weekend, the core central region (CCR) saw the launch of ultra-luxury condominium Klimt Cairnhill by Low Keng Huat.

    The 39-storey freehold development holds 138 units, comprising two- to four-bedroom apartments and a pair of six-bedroom penthouses.

    Their sizes range from 829 sq ft to 5,920 sq ft, with a starting price of S$2.9 million or S$3,532 psf.

    NUS's Dr Lee said: "There is keen interest in the CCR properties, but the mismatch tends to be greater, especially for the larger units. Prospective buyers are willing to splurge on the properties they want, but the right ones may not be in the current market."

    "Hence, the search for higher quantum units in the CCR tends to take longer, and the demand tends to show up slower."

    "I expect the demand for CCR to pick up significantly when the borders are reopened," he said.

  4. #4
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    Default Re: New 496 units EC Parc Greenwich

    Frasers Property's Parc Greenwich sells 65% of units at launch weekend

    Sep 13, 2021



    FRASERS Property's executive condominium (EC) Parc Greenwich moved about 65 per cent or 322 of its 496 units over its launch weekend on Sept 11 and 12.

    Prices started from S$895,000 for the two-bedroom units, S$1.05 million for the three-bedroom units, S$1.2 million for the three-bedroom-plus-study units, S$1.38 million for the four-bedroom units and S$1.7 million for the five-bedroom units.

    The apartments were sold at an average price of about S$1,200 per square foot, developers Frasers Property and CSC Land said in a joint release on Monday.

    All the two-bedroom and five-bedroom apartments were said to be fully snapped up, while the three-bedroom apartments sold 220 of its 370 units and the four-bedroom apartments sold 74 of the 98 units.

    The EC also sold 148 units or the full 30 per cent allocated quota to second-time home buyers. First-time buyers took up 174 of the 322 units sold.

    Lee Nai Jia, deputy director of the Institute of Real Estate and Urban Studies (IREUS) at the National University of Singapore said: "Buyers are likely attracted to the EC because they are priced lower than the new private developments on sale. This trend is expected to continue until next year, provided no government intervention in the residential markets."

    "The performance of EC not only displays the robust underlying demand in the OCR (outside of central region) segment, but it also shows that the prospective buyers are in a stronger financial position than in 2015 in purchasing the EC. Besides the buoyant HDB resale market supporting the upgraders, I suspect that many buyers also have help from the parents or intergenerational transfers when purchasing the units," he added.

    Lorraine Shiow, acting chief operating officer of Singapore residential at Frasers Property, said that home buyers were mainly attracted to the EC's wide array of facilities.

    "Parc Greenwich also appeals to young families who can look forward to a plethora of dining, recreational and retail amenities as well as transportation nodes in the neighbourhood." she added.

    A 10-minute walk from Fernvale Light Rapid Transit (LRT) station, the project comprises nine residential towers of 14 storeys each, a public park and a low-rise landed enclave.

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