There was a hype in Tanah Merah on the weekend as potential buyers rushed to the showflat of Grandeur Park Residences. About 10,000 people attended the launching event over two consecutive days.
Grandeur Park Residences, the newest condominium project by developer CEL Development was open for preview on Saturday, 18th Feb 2017. The 720-unit condominium is only five minutes away from Tanah Merah MRT station. The good location is not the only attractiveness of this development, Grandeur Park Residences indicative pricing quantum pull potential buyers to consider this project as an investment product.
Unit mix for Grandeur Park Residences consist of 96 one-bedroom, 326 two-bedrooms, 184 three-bedrooms, 67 four-bedrooms and 47 five-bedrooms. The average indicative pricing at Grandeur Park Residences is approximately $1,350 psf. One- and two-bedders priced from $55x,xxx and $72x,xxx.
According to the Straits Times, one foreigner Mr Leung from Hong Kong submitted his bank check on Saturday as expression of interest to get himself a lot in balloting on 4th March 2017. He resided in Singapore for two decades, stated he was not trying to find home to purchase but was interested in the project mainly of its ideal location.
Another 27-year-old female finance professional, also submitted a cheque even though she was about “50 per cent” sure about the project. “We are considering other new condo launches but the location of this project is really good, even if it is further from the central business district compared to other upcoming condo launches.” she said.
“We expected a good response, but today it‘s overwhelming. About 60 per cent of units are one- and two-bedders, and a lot of people are attracted… because of the (price) quantum,” said CEL Development professional director Chng Chee Beow.
Though the Grandeur Park Residences come when the demand of new private residential house seems to be on an upswing, real estate market researchers are cautiously optimistic about private house transaction volume in the new 2017. In December 2016, housing developers marketed 381 units, 17.6% greater than the 324-units sold in December 2015.
The 429-units in Park Place Residences at Paya Lebar Quarter, 843-units in Seaside Residences at Siglap and 400-units in Artra at Redhill are likely to be launch between March and April.