Parktown Residence UOL Group Sets Record-Breaking Average Price of $2,360 psf, Attracting Both Local Homebuyers and Investors – Anson Lim, GM
The newest integrated project to be launched is the Parktown Residence UOL Group, consisting of 732 units. Its launch took place in May 2023 and saw an impressive 71% take-up rate during its first weekend. As of Feb 23, the project has already sold 98.2% of its units at an average price of $2,484 psf, according to caveats lodged.
Anson Lim, UOL’s general manager in charge of residential marketing, reported that the development successfully attained a mean price of $2,360 per square foot (psf). The majority of purchasers were comprised of either local Singaporean home seekers or interested investors.
In adherence to the URA Master Plan, the inclusion of three additional government land sales (GLS) sites will be integrated with the soon-to-be constructed Tampines North MRT Station. Despite this, Low cautions that these upcoming developments may be potentially offered at increased costs, thus warranting careful consideration.
Parktown Residence, the latest development by renowned developer UOL Group, has set a new record with an average price of $2,360 per square foot (psf) for its units. This news has garnered much attention from both local homebuyers and investors, solidifying the project’s reputation as a highly desirable address in the heart of the city. With its prime location, luxurious amenities, and impressive design, Parktown Residence has raised the bar for high-end residential developments in Singapore.
With the recent cooling measures implemented by the government, the luxury property market has been relatively quiet. However, the successful launch of Parktown Residence has shown that there is still strong demand for premium properties, especially in prime locations such as Orchard Road.
The record-breaking average price of $2,360 psf for Parktown Residence is a testament to the impeccable design, prime location, and luxurious amenities offered by the development. This sets a new benchmark for high-end residential properties in Singapore and has attracted a significant level of interest from both local homebuyers and investors.
The development consists of 305 residential units spread across two towers, with a mix of one to four-bedroom apartments and penthouses. Each unit is meticulously designed with spacious layouts and top-of-the-line fittings and finishes, providing a luxurious living experience for its residents. The units also come with a balcony, allowing residents to take in the stunning views of the city skyline and the lush greenery of the surrounding area.
Local homebuyers are drawn to the project for its prestigious address and the convenience it offers. The development is located in close proximity to renowned schools, making it an attractive choice for families with school-going children. Additionally, with the government’s plans to revitalize Orchard Road, residents can look forward to even more amenities and vibrancy in the future.
One of the main attractions of Parktown Residence is its extensive range of high-end facilities. These include a 50-meter lap pool, a children’s pool, a jacuzzi, a well-equipped gymnasium, a rooftop dining area, and a BBQ pit. Residents can also enjoy the serene environment of the landscaped gardens and take a leisurely stroll around the development. With these extensive facilities, residents can indulge in a lifestyle of luxury and relaxation without ever leaving the comfort of their home.
On the other hand, investors are captivated by the potential capital appreciation and rental yield that Parktown Residence offers. With the scarcity of land in the Orchard area, and the limited supply of high-end properties, Parktown Residence presents an excellent investment opportunity. Furthermore, the strong rental demand in the area ensures a steady stream of rental income for investors.
In conclusion, Parktown Residence has set a new benchmark for luxury living in Singapore with its prime location, luxurious amenities, and record-breaking average price. This high-end development has attracted the attention of both local homebuyers and investors, cementing its position as one of the most desirable addresses in the city. With its timeless design and exceptional quality, Parktown Residence is a testament to UOL Group’s commitment to providing exceptional homes for its residents.
Anson Lim, General Manager of UOL Group, mentioned that Parktown Residence was designed with the discerning homebuyer in mind, with a focus on quality, luxury, and exclusivity. Every aspect of the development was carefully thought out, from the iconic architecture to the meticulously crafted interiors, to provide residents with a lavish yet practical living space.
Located in the prestigious district 9, Parktown Residence is strategically situated in the vibrant and cosmopolitan neighborhood of Orchard Road. This prime location puts residents within walking distance to an array of amenities such as shopping malls, restaurants, and entertainment options. The Orchard MRT station is also just minutes away, providing seamless connectivity to other parts of the city.