Artist’s impression of Grandeur Park Residences, a new condominium in Tanah Merah. Source: CEL Development
Grandeur Park Residences, CEL Development’s latest condominium in Tanah Merah, received very strong interest from buyers, with 10,000 people turning up at its showflat over the weekend, reported the Straits Times.
With sales set to start on 4 March, the average price at the 720-unit project stands at around $1,350 psf. Almost 50 percent of its units are two-bedders, which cost from about $700,000.
The project’s location – about a five-minute walk from Tanah Merah MRT station – proved to be a major draw for potential buyers.
“It is really near the MRT (station) and has good investment and rental potential,” said S.Y. Leung, who submitted his cheque on Saturday as an expression of interest.
Clara Fong, a 27-year-old finance professional, submitted a cheque as she is “50 percent” sure of 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.
Seaside Residences in Siglap and Park Place Residences at Paya Lebar Quarter are expected to be launched between March and April.
Meanwhile, Chng Chee Beow, Executive Director of CEL Development, attributed the healthy response to pent-up demand, given that no new projects have been launched in the area over the past three years.
“We expected a good response, but today it’s overwhelming. About 60 percent of units are one- and two-bedders, and a lot of people are attracted… because of the (price) quantum.”
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
