North Park Residences: 80 units sold on first day of "walk-in sales"!

A project selling private homes at the largest integrated development in the north opened for walk-in sales on Saturday (Apr 11).

Developers of North Park Residences have sold about 80 units, while about 320 units were sold at the project's soft launch last week. In total, about 40% of the 920 units have been sold so far.

North Park Residences will be part of Northpoint City, which will also house the Nee Soon Central Community Club and a Community Garden. It is this proximity to amenities and transport nodes that has attracted buyers.

At $1,300 per square foot, some buyers say it is "reasonably-priced". "Because of its position, with this price, it is a good buy," said Mr Ng Say Tiong, a buyer.

Its developer Frasers Centrepoint says most of the units sold are the smaller ones and that it has seen a fair mix of those who buy to live in as well as investors.  

Integrated developments like North Park that have direct access to transport hubs are not new in Singapore. Projects like Bedok Residences, Watertown and J-Gateway have been launched in recent years, but with Singapore beefing up its transport networks, such integrated developments may become less attractive, says real estate firm Century 21.

"More and more Singaporean homes would be within the 500 to 800 metres of an MRT station so in future as our transport networks expand and our efficiency in public transport improves, this premium would be eroded," said Century 21 CEO Ku Swee Yong.

North Park Residences is expected to complete in three years' time.

Source: CNA

Encouraging sales results indeed. But the more pertinent question being: Is "walk-in sales" = official launch, or is this still the "semi-hard" stage after the soft launch last week..?

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