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Half the units at Park Place Residences snapped up on first day of sales

cecilia.chow@bizedge.com
Updated

Park Place Residences at PLQ sold 215 units (50%) of the 429 units within the development on the first day of launch on March 25.

The developer, Australian group Lendlease, had initially intended to release 40% of the units in phase one of sales, but released another 10% due to overwhelming response. Prices of the units sold ranged from $800,000 for a one-bedroom unit to $2.1 million for a three-bedroom premium unit, or from $1,600 to over $2,000 psf.

The showsuites will be closed after just one day of sales, according to Lendlease in a statement on March 26. Details of the phase 2 sales launch will be released later this year. Prices of the remaining units are forecast to increase as future announcements are made about the upcoming Grade-A offices, shopping mall, the plaza and parkland, as well as the greater Paya Lebar Central area.

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