Penrose condo early-bird prices start from S$788,000 at preview this weekend

Penrose condo early-bird prices start from S$788,000 at preview this weekend

Wed, Sep 09, 2020

Rachel Chia

https://www.businesstimes.com.sg/sit...9/penrose2.PNG
Penrose condominium comprises five 18-storey towers housing 566 units.
PHOTO: HONG LEONG GROUP

https://www.businesstimes.com.sg/rea...w-this-weekend

A 99-YEAR leasehold condominium jointly developed by Hong Leong Holdings and City Developments Limited will begin previews by appointment from Sept 12, Hong Leong Group said in a statement on Wednesday.

Early-bird prices for Penrose condominium, which is located at Sims Drive in District 14, start from S$788,000 for units with one bedroom, S$943,000 for those with two bedrooms, S$1.33 million for three bedrooms and S$2.11 million for four bedrooms.

The development comprises five 18-storey towers housing 566 units. Sizes of one-bedroom units start from 474 square feet (sq ft), 646 sq ft for two-bedroom units, 936 sq ft for three-bedroom units, and 1,389 sq ft for four-bedroom units.

The temporary occupation permit is expected to be obtained in July 2024, Hong Leong Group said.

Facilities at Penrose condominium include a childcare centre, 50-metre swimming pool, wellness gardens, a rooftop sky garden with unblocked views, as well as a pavilion for social gatherings and a treehouse pavilion.

The development is a 15-minute drive from the central business district and Orchard Road, and a six-minute walk to Aljunied MRT station. The neighbourhood is also linked to other parts of Singapore by the Pan Island Expressway and the Kallang-Paya Lebar Expressway.

Geylang Methodist School and Canossa Catholic Primary School are a five-minute and 15-minute walk away respectively.

Nearby hawker centres include Sims Vista Market & Food Centre, Haig Road Market & Cooked Food Centre and Old Airport Road Food Centre. There are cafes and restaurants in the neighbouring Katong and Joo Chiat districts, as well as shopping malls nearby, including Paya Lebar Quarter and Kallang Wave Mall.

Penrose condominium is also "well-positioned" to tap new growth areas, Hong Leong Group said. These include Kampong Bugis and the Kallang River precinct. The latter will see a rejuvenation of the waterfront with new walkways and cycling routes.

Hong Leong Holdings' head of sales and marketing Betsy Chng said the project is "well-priced and within the reach of most Singaporeans looking to invest or simply to buy a beautiful and functional home to stay".

The Penrose condominium sales gallery is located along Geylang Road, with vehicle access via Kallang Airport Drive.

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where is the recession....

Quote:

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Originally Posted by azeoprop

where is the recession....

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bro, from 14xxpsf for RCR already leh u still complain. lol. that day parc botannia had a high floor 2 bedroom bounced unit at 14xxpsf also quickly snapped up and resold. this plot already the cheapest plot in RCR bot this cycle at 7xxpsf.

Quote:

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Originally Posted by bargain hunter

bro, from 14xxpsf for RCR already leh u still complain. lol. that day parc botannia had a high floor 2 bedroom bounced unit at 14xxpsf also quickly snapped up and resold. this plot already the cheapest plot in RCR bot this cycle at 7xxpsf.

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anyway max absd cannot buy ha ha ha

Where's this I have a pen, i have a rose, uhhh! condo?

Behind the Sims Dr market?
Beside Sims Urban Oasis?

Quote:

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Originally Posted by bargain hunter

bro, from 14xxpsf for RCR already leh u still complain. lol. that day parc botannia had a high floor 2 bedroom bounced unit at 14xxpsf also quickly snapped up and resold. this plot already the cheapest plot in RCR bot this cycle at 7xxpsf.

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This one 1666psf for small unit leh!

I think Parc Esta pulled up all the vicinity in D14.

788k most probably will be the low floor stack 4 or 5 facing the walls of the clubhouse. Well at least not pie facing.

Quite rare for 1 bedders with only "pool" facing in the development.

Quote:

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Originally Posted by mcmlxxvi

Where's this I have a pen, i have a rose, uhhh! condo?

Behind the Sims Dr market?
Beside Sims Urban Oasis?

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beside sims urban. if average is 15xxpsf should sell well ba, easily.

Quote:

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Originally Posted by bargain hunter

beside sims urban. if average is 15xxpsf should sell well ba, easily.

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I doubt developer would let go at that pricing.... maybe for bigger or PES units.

Quote:

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Originally Posted by mcmlxxvi

I doubt developer would let go at that pricing.... maybe for bigger or PES units.

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but really start from 14xxpsf for standard units leh but probably the swee swee same level as expressway unit hahahahahaahha

Quote:

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Originally Posted by bargain hunter

but really start from 14xxpsf for standard units leh but probably the swee swee same level as expressway unit hahahahahaahha

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The 2 bed compact are expressway facing with the lower 14xxpsf

Quote:

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Originally Posted by azeoprop

The 2 bed compact are expressway facing with the lower 14xxpsf

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If die die must buy that location then worth leh! CDL woh!!!

Quote:

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Originally Posted by mcmlxxvi

If die die must buy that location then worth leh! CDL woh!!!

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chances r more people will pay 15xx to not face the expressway lor.

almost 70% sold after day 1. 1 and 2 bedders all gone.

every single PIE facing unit is sold out!

60% of Hong Leong's Penrose condo sold over launch weekend

https://www.straitstimes.com/sites/d...e-27092024.jpg
The units at Penrose condominium were sold at prices starting from $788,000 for a one-bedroom apartment.PHOTO: HONG LEONG GROUP

Published 36 min ago

Ann Williams

https://www.straitstimes.com/busines...launch-weekend

SINGAPORE - The Hong Leong group sold 60.3 per cent of its Penrose condominium over its launch weekend, with the reception among buyers in line with recent data showing bullish new home sales defying the ongoing coronavirus pandemic.

As at 5pm on Sunday (Sept 27), 341 units out of 566 in the 99-year leasehold development in Sims Drive had been taken up, said Hong Leong in a media release.

The units were sold at prices starting from $788,000 for a one-bedroom apartment, $943,000 for a two-bedder, $1.33 million for a three-bedder and $2.11 million for a four-bedder, said Hong Leong in a media release on Sunday.

The condo's apartments sizes range from 474 sq ft for a one-bedroom unit to 1,389 sq ft for a four-bedroom unit.

Take-up was good across all unit types, with the selling price working out to $1,500 to $1,700 per sq ft, said Hong Leong.

It added that nearly 85 per cent of the weekend's buyers were Singaporeans, with permanent residents and foreigners making up the rest. "Keen interest was also seen from HDB upgraders across areas islandwide," the company added.

Sales of new homes - mostly newly-launched condominiums - hit an 11-month high last month, defying the Hungry Ghost Month, and more importantly, the pandemic, the resultant recession and a surge in job losses.

Market observers have ascribed this to pent-up demand after Singapore's two-month circuit breaker upended sales and planned launches. But other reasons given for the surge in new home sales were more buyers parking their money in property, which they see as a safe-haven asset amid an uncertain economy and volatile markets, and record-low interest rates making it seem a "good time" to get a home loan.

Ms Betsy Chng, head of sales and marketing at Hong Leong Holdings, said "timing and sensitive pricing" were the main factors behind the good response to the Penrose's sales launch.

"Given the current climate, it is crucial to identify the right timing and price our projects thoughtfully according to market sentiments and each project's value that includes location, design, and quality interiors," she added.

The project is jointly developed by Hong Leong Holdings and City Developments, another member of the group. The District 14 development, which comprises five 18-storey towers, is a short walk to Aljunied MRT station and near the Pan-Island Expressway and Kallang-Paya Lebar Expressway. The Central Business District and Orchard Road are about 15 minutes' drive away.

Property experts said new home sales may start to moderate in the coming months as pent-up demand from local buyers is absorbed into the market. But the gradual reopening of the economy and the setting up of fast lanes for essential travel could also result in more foreign demand for private homes here.

In line with Covid-19 preventive measures, balloting and booking of Penrose units were done virtually via Zoom. Online balloting began on Friday to determine the queue sequence of buyers for booking day, which started on Saturday.