The recent launch of ELTA in Clementi and Parktown Residence in Tampines over the weekend of 22-23 February has seen a remarkable response from homebuyers, with both developments achieving impressive sales figures. This surge in demand highlights a resurgence in buyer confidence within Singapore’s private residential market.
ELTA, a 99-year leasehold project located along Clementi Avenue 1, sold approximately 65% of its 501 units. This marks the first new private condominium launch in Clementi since December 2020, indicating pent-up demand in the area. The development’s diverse unit layouts, particularly the 1- and 2-bedroom types priced below $2.2 million, attracted a mix of investors and HDB upgraders. The project’s proximity to educational institutions and employment hubs further boosted its appeal.
Meanwhile, Parktown Residence, an integrated development in Tampines Avenue 11, achieved an impressive 87% sales rate, moving 1,041 of its 1,193 units. This performance set a new record for the highest number of units sold over a launch weekend, surpassing the previous record held by Emerald of Katong. The development’s integration with the future Tampines North MRT station and its on-site retail offerings contributed to its popularity among buyers.
Collectively, ELTA and Parktown Residence sold over 1,300 units during the launch weekend, exceeding the total number of new private homes transacted in January. This strong sales momentum is expected to continue into March, signalling a promising start for the primary market in 2025.
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