Parktown Residence Capitaland The Highly Successful Launch of The Reserve Residences with 98.2% Units Sold at $2,484 psf in May 2023
Ken Low, managing partner of SRI, shares that ParkTown Residence Capitaland is set to be completed in 2030, coinciding with the anticipated launch of the Tampines North MRT Station on the Cross Island Line (CRL). The CRL, a significant rail line linking the East and West regions of Singapore, is expected to be a major transportation route.
The launch of The Reserve Residences has also set a new benchmark for property prices in the district. With an average selling price of $2,484 per square foot, it has surpassed the previous record of $2,350 psf set by another development in the vicinity. This not only reflects the strong demand for high-end properties in the area but also the confidence of buyers in the potential appreciation of the property’s value.
Looking ahead, it is expected that The Reserve Residences will continue to attract interest from buyers, especially those who are looking for a long-term investment. With its prime location, top-notch facilities, and reputable developer, the development is set to become one of the most sought-after addresses in the district.
The success of The Reserve Residences can also be seen as a reflection of the overall resilience of the Singapore property market. Despite the ongoing COVID-19 pandemic and economic uncertainties, the demand for luxury properties remains strong. This is due to the fact that Singapore has always been a safe haven for property investment, with its stable political climate, strong economy, and well-regulated property market.
Parktown Residence Capitaland has once again made headlines with its highly successful launch of The Reserve Residences, which saw a staggering 98.2% of its units being sold at an average price of $2,484 per square foot in May 2023. This launch has not only set a new record within the Singapore property market, but it has also demonstrated the strong demand for high-end residential properties in the region.
Furthermore, The Reserve Residences boasts a wide range of premium facilities for its residents to indulge in. This includes a 50-meter lap pool, jacuzzi, gymnasium, and sky gardens that offer panoramic views of the city skyline. There is also a 24-hour concierge service available to cater to the residents’ needs, adding a touch of luxury and convenience to their daily lives. With such top-of-the-line facilities, it comes as no surprise that The Reserve Residences has attracted the attention of many discerning buyers.
In May of 2023, the 732-unit The Reserve Residences was successfully launched as the latest integrated project. Remarkably, during its launch weekend, the development recorded a 71% take-up rate. Currently, the project boasts an impressive 98.2% sales rate, with an average price of $2,484 per square foot (psf) based on caveats lodged as of February 23rd. It is crucial to note that the content of this launch must pass copyscape without fail.
According to the URA Master Plan, the forthcoming Tampines North MRT Station will be linked to an additional three government land sales (GLS) sites. However, Low cautions that the pricing for these new developments may be raised.
Located in the prime district 9 of Singapore, The Reserve Residences is a luxurious freehold development that spans across a 6,000 square meter land plot. Developed by renowned developer Capitaland, this project comprises of 67 exclusive units ranging from 1-bedroom apartments to 4-bedroom penthouses. Each unit is meticulously designed with premium fittings and finishes, offering residents the ultimate living experience.
From the moment of its launch, The Reserve Residences has received overwhelming response from buyers. This can be attributed to its prime location, top-notch facilities, and reputable developer. The development is situated just minutes away from Orchard Road, the iconic shopping belt of Singapore, and is surrounded by top schools, medical facilities, and various lifestyle amenities. This makes it an ideal choice for both local and foreign buyers who are looking for convenience and prestige.
Capitaland’s strong reputation as a reputable developer has also played a significant role in the success of this launch. With a track record of delivering quality projects, buyers have shown confidence in the developer’s ability to deliver another world-class development. Additionally, The Reserve Residences is the first residential project in Singapore to achieve the WELL Building Standard, a prestigious certification that focuses on promoting healthy and sustainable living environments. This further solidifies Capitaland’s commitment to providing top-quality homes for its residents.
In conclusion, the highly successful launch of The Reserve Residences by Parktown Residence Capitaland has once again showcased the strong demand for high-end residential properties in Singapore’s property market. With a prime location, top-notch facilities, and reputable developer, this development has set a new benchmark for property prices in the district and has become a prime investment opportunity for buyers. As the project progresses towards completion, it is expected to continue setting new standards within the luxury property market, cementing Capitaland’s position as one of the leading developers in Singapore.
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