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Parc Central Residences sells 59% of units at launch

Parc Central Residences, an executive condominium development by Hoi Hup-Sunway consortium, sold 414 out of a total of 700 units on the first day of launch on Jan 23. The joint- venture development by Hoi Hup Realty and Sunway Development recorded an average selling price for units sold of $1,177 psf at the end of the booking exercise. The executive condominium located at Tampines Street 86 average selling price is slightly higher than OLA’s $1,100 psf in March last year.

Parc Central Residences
Image Credits: Parc Central Residences, by Hoi Hup Realty and Sunway Developments

Koon Wai Leong, general manager of Hoi Hup, speaking on behalf of the joint venture, said: “It shows that Parc Central Residences is a value-for-money product as it has been meticulously conceived and designed and is very well received by our purchasers. Even though we are in the midst of a pandemic and a recession, we believe that EC is still a preferred asset class for many upgraders and first time condo buyers.”

Mr Ismail Gafoor, CEO of PropNex, said the total sales of 59 per cent on first day of launch is no surprise as there were close to 700 cheques collected as expression of interest during the e-application phase. Nicholas Mak, head of research and consultancy at ERA Singapore, said: “(the interest for Parc Central Residences) is a positive sign for the EC market as it shows that there’s still healthy demand. There hasn’t been a new EC project launch since March 2020, when OLA at Anchorvale Crescent in Sengkang debuted.”

Mr Paul Ho, chief mortgage officer at iCompareLoan, said: “the last launch in Tampines for an Executive Condominium was eight years ago when CityLife@Tampines was launched. So, there is demand for projects like Parc Central Residences because of the location.”

The Parc Central Residences is an executive condominium that’s reminiscent of New York’s Central Park.

Located along Tampines’ Avenue 10, this new property launch offers infinite possibilities that come with urban conveniences. The developers, Hoi Hup Realty and Sunway Developments took time to craft quality and a luxurious condo that’s in close proximity to Tampines Regional Center.

This is an executive condominium designed to cater to all your family needs. It has been uniquely crafted with premium furnishings and branded fittings. In all the stories, there are only four units per floor. This is designed to offer residents privacy as well as space. For the outdoor design, this condo’s backdrop features a contrasting landscape that creates a stunning and contoured façade.

Some of the key factors that make this condo worth investing in include:

Close Proximity to Schools

Residents with school-going children don’t need to worry about finding the best elite institution. Parc Central Residences is located within a thriving district. Future residents of this new property launch can take their children to renowned schools in Singapore such as:

  • St. Hilda’s Primary School – 0.99 km
  • Springfield Secondary School – 0.75 km
  • Poi Ching School – 0.56 km
  • Junyuan Secondary School – 0.5 km

Access to Modern Retail Outlets

The Parc Central Residences has been designed to promote city living. So, future residents are guaranteed modern conveniences such as numerous shopping options to cater to their different needs.

Residing in this new establishment gives you access to some of the best retail centers in the world. For instance, IKEA/GAINT shopping center is just a 5-minute drive away. There is also the Tampines Round Market that’s 5 minutes’ drive from the condo while the Tampines hub is around 4-minutes’ drive from this new property launch. Besides that, you have the option of going to Tampines Mall and Tampines One & Century Square which is less than 5 minutes’ drive from the executive condominium.

Ease of Transportation

You definitely can’t enjoy all these modern conveniences without a good transport system. This condo is located within a well-connected transport hub. So, residents can access different parts of Singapore conveniently regardless of the time of the day.

Within a radius of 2km, Parc Central residents can access 3 MRT stations. This includes the Tampines North, Tampines East, and Tampines West MRT stations. This makes it possible to reach the shopping malls, food markets, and wet markets among others.

Drivers with private vehicles don’t need to worry since the transport network is still seamless. The ease of transportation in this area is enhanced by the Pan Island Expressway, Tampines Expressway, and Kallang Paya Lebar Expressway.

Located Within an Eco-Friendly Area

There are lots of green spaces that are found within the vicinity of Parc Central Residences. Residents looking for spaces to relax or parks for kids have several options to choose from including:

  • Tampines Central Park: it’s a popular green social space that’s designed for music events and community use. This is where you can socialize freely, take your pups for a walk, or just sit and relax.
  • Sun Plaza Park: it’s an ideal green space for those with children. The 9.6 ha piece of land that’s found along Tampines Ave. 7 and 9 is great for outdoor sports events and cultural performances.
  • Tampines eco-green: this is a social space with freshwater wetlands and open grasslands. It’s a sanctuary that also features a biking trail.
  • Residing in this executive condo definitely feels refreshing and enjoyable. The tranquility of the lush greenery found in the neighborhood is something that makes it stand out.

The Best Home Loan Solution

It’s not easy to compare home loan Singapore, especially if you are looking for a property to buy. There are lots of financial institutions and this can make the selection process quite difficult. However, things have now been made easier with the help of Mortgage Brokers.

The mortgage brokers offer free online solution that allows you to easily find the best type of mortgage. You only need to input all the key details such as the type of property you intend to buy, the amount of loan, repayment period, and the type of bank.

Written by Ravi Chandran

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