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Listed property group SingHaiyi said that 324 units at Parc Clematis were sold at the end of the first day of sales on August 31. The developer had released 465 units for sale in the first phase, which translates to a sales rate of 70%. The average price achieved for the units sold was $1,580 psf.
According to the developer, about 48% of the units sold were the one-bedroom and various two- and three-bedroom dual-key units. Most of the buyers were drawn to the location in Clementi estate, given the proximity of the residential project to amenities at Clementi Mall, which is linked to the bus interchange and MRT station.
Eight of the buyers were former owners of Park West, which was sold en bloc to SingHaiyi for $840 million in January 2018. Parc Clematis has 1,468 units and sits on a 633,644 sq ft, 99-year leasehold site. There are nine 24-storey towers within the development, 12 strata terraced houses and six strata detached houses.
“We are heartened to see brisk sales of larger apartment types which typically appeal to buyers looking to stay in them, in addition to strong sales demand for one- and two-bedroom units which are suitable for both residents and investors,” says Celine Tang, group managing director of SingHaiyi.
Based on first-day sales for a new project launch this year to date, Parc Clematis is considered “best-selling new mega private residential project”.
According to Ismail Gafoor, CEO of PropNex, one of the marketing agents at Parc Clematis, “Selling over 300 units on the first day is definitely one of the highest this year. Sales momentum is building up as buyers gain confidence, especially when they feel that the price is right and the location is right.”
The strong sales at Parc Clematis comes on the back of equally healthy sales at recent launches, for instance, Sky Everton (40% of 262 units sold on launch weekend); One Pearl Bank (sold 160 units out of 774 on launch weekend); and Piermont Grand executive condo where 375 units were sold out of a total of 840 units.
Clementi is also a sought-after location, adds Gafoor, given its centrality, proximity to top schools and employment hubs such as National University of Singapore and National University Hospital, one-north and the Jurong area. “Clementi is also an area with a huge middle class population,” adds Gafoor. “As such, the project attracts both upgraders and investors.”