Parktown Residence’s sizzling sales: perks and perils of buying into large integrated developments
Challenges of living in large developments and with collective sales of mixed-use leasehold sites
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FROM the blistering pace of sales at the launch of mega project Parktown Residence, one might think that large-scale integrated developments are especially sought after.
The Tampines project, combining 1,193 apartments with a major transport hub and retail, as well as food and beverage elements, sold 87 per cent of units (1,041 units) at an average price of S$2,360 per square foot (psf).
Singapore’s private homes are costly. Still, many people eagerly pay lofty prices for residential property because they expect capital appreciation.
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