Close to 200 new homes sold in Pasir Panjang in April

Since the beginning of April, the Pasir Panjang area has been a hotspot for new project launches and relaunches, bringing new home sales close to 200 units so far.
Artist Impression of Harbour View Gardens (Credit: Roxy-Pacific)
On April 1 was the launch of Harbour View Gardens by Roxy-Pacific Holdings. As at April 24, more than 84% of the units — 48 out of a total of 57 — were sold. The average price of units sold at the freehold condominium at 221 Pasir Panjang Road was $1,753 psf, according to caveats lodged so far. Most of the buyers are locals, says Teo Hong Lim, Roxy-Pacific Holdings executive chairman and CEO.
Roxy-Pacific Holdings purchased the former Harbour View Gardens en bloc in August 2016 for $33.25 million. The former 14-unit apartment block sat on a 30,745 sq ft plot with an existing plot ratio of 1.4. The developer decided to retain the same name for the new project.
Next door to Harbour View Gardens is Oxley Holdings’ 170-unit The Verandah Residences, which was previewed over the Good Friday weekend of March 30 to April 1. More than 2,500 visitors thronged the sales gallery.
Crowd at the preview of The Verandah Residences (Credit: Oxley)
Given the strong response, Oxley Holdings brought forward the launch to April 7 instead of the originally scheduled launch date of April 14. A total of 129 units were sold by ballot on April 7. So far, 142 units, or 83.5% of the project, have been sold. The average price of units sold is $1,810 psf, according to caveats lodged so far.
Roxy-Pacific’s Teo attributes the healthy sales at both projects to pent-up demand. “There haven’t been many new launches in the Pasir Panjang area for quite some time,” he says. “Supply traditionally came from redevelopment of bungalow plots on Pasir Panjang Road into condos. But supply has dwindled considerably in recent years.”
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