Why Park Colonial is the top-selling project in 3Q2018

By Park Colonial / Brought to you by CEL Unique Development | October 19, 2018 11:40 AM SGT
The triple-volume Colonial Club and 50m cantilevered lap pool
LAUNCHED ON July 5 — the eve of the property cooling measures — Park Colonial saw more than 300 units snapped up in a single night. Another 200 units have been sold since then, bringing the total to more than 500. The first phase, or 60% of the 805-unit development, is now fully sold.
From July to September, Park Colonial was the top-selling project in the city-fringe area, or Rest of Central Region (RCR), according to Cushman & Wakefield. This was achieved against a backdrop of higher additional buyer’s stamp duty and lower borrowing limit for mortgages that were part of the latest property cooling measures.
The crowd on the first weekend of previews at Park Colonial, where the first phase, or 60%, of the 805-unit development has been sold
WELL-LOCATED
“The property cooling measures have forced homebuyers to be more circumspect about selecting the right property before committing to a purchase,” says Alvin Tan, executive director and head of project marketing at PropNex International. “Besides price, they look at potential capital appreciation due to future development, as well as potential rentability of the unit post-completion.”
Park Colonial outperformed other recent launches because it possesses many of the attributes that homebuyers seek, adds Tan. One major attribute is its location: The project is adjacent to the Woodleigh MRT station and across the road from the Stamford American International School.
Across the road is the upcoming Woodleigh Mall with more than 300,000 sq ft of retail space and the future township, Bidadari Estate, adds Tan. Thus, Park Colonial enjoys the best of both worlds — situated in a private residential enclave, yet able to enjoy the amenities of an up-and-coming masterplanned township.
Colonial Square
COMPETITIVELY PRICED
At prices averaging $1,700 to $1,800 psf, Park Colonial is competitively priced relative to other projects in the RCR,...