Huttons Asia has announced that the launch weekend for ELTA and ParkTown Residence attracted significant interest, with over 3,000 buyers leading to the sale of 1,369 units. This strong performance has prompted Huttons to revise their full-year sales forecast for 2025 to between 7,500 and 8,500 units, up from an earlier estimate of 7,000 to 8,000 units.
ParkTown Residence, located in Tampines, achieved a remarkable feat by selling 1,041 units, or 87%, during its launch weekend. This success is attributed to the project’s fully integrated development and the appeal of the Tampines 5-year masterplan, which includes the nearby Tampines Boulevard Park. The development is a joint venture by three experienced developers and offers a range of amenities including an MRT station, bus interchange, retail mall, hawker centre, community club, covered plaza, and park.
The project has drawn interest from HDB upgraders and investors alike, thanks to its proximity to major employment hubs such as Tampines Regional Centre, Changi Business Park, and Punggol Digital District, as well as international schools like UWCSEA East Campus. The most popular units were the 2- and 3-bedroom types, with the 2-bedroom units nearly sold out.
Huttons Data Analytics estimates that developer sales in February 2025 will exceed 1,500 units, with total sales for the first two months of the year estimated between 2,500 and 2,700 units. This represents 39% of the total sales of 6,469 units in 2024. Prices in the property market are expected to grow between 4% and 7% in 2025, barring unforeseen circumstances.
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