Parc Canberra Sells Almost 2/3 of Units at Launch

The latest executive condominium (EC) launch, that of Parc Canberra, did well at its debut over the weekend. It sold 316 units at an average pricing of SGD$1,085 per square foot (PSF).

This is equivalent to 64% of the total 496 units in the development, which augurs well for the launch next year of Provence Residence, the EC next door. Incidentally, it should also bode well for the launch of the two upcoming private condo sites, The Commodore condo and The Watergardens at Canberra, just across Canberra Link, and within 5 minutes walk of Canberra MRT station too.

(The pricing for Provence Residence EC is also expected to be similar, given that its land cost is $566 PSF PPR (per sq ft per plot ratio) compared to $559 for Parc Canberra. This should work out to a selling price of around $1,150 PSF, compared to an expected selling price of possibly $1,4xx to $1,5xx PSF for the Commodore condo and the Watergardens condo.)

Hoi Hup Sunway, the developer for Parc Canberra EC, said that the balloting exercise was carried out online last Friday. This was broadcast live on the project Facebook page.

It then launched all the units for sale starting from 9am on Saturday, and had moved 316 of them by 4.30pm on Sunday.

The remaining units comprise a mix of two, three, four, and five bedroom apartments. The Parc Canberra showflat is beside Sembawang MRT station, but the actual site is at the corner of Canberra Link and Canberra Walk, five minutes walk from Canberra station on the North-South MRT line.

Due to the timing of the launch during the Covid-19 outbreak, precautionary measures have been implemented at the showflat. Besides recording of contact information for all guests, checks on their travel history, temperature checking, and hand sanitising, frequency of cleaning at the showflat premises was ramped up.

People who had been in mainland China over the previous two weeks were also asked to refrain from visiting the showflat.

As an added precaution, Hoi Hup Sunway conducted the balloting to determine priority for purchases by applicants, online. Prior to that, applicants were given two days, instead of the usual one, to drop off their ballot tickets personally at the sales gallery. This was witnessed by an auditor.

For more details, see report on this launch by Business Times.

Source: The Straits Times . 18 February 2020