Launching on 7 April 2018, the remaining 50% of units in Park Place Residences will be up for sale. The public can check out developer Lendlease’s show flat from 24 March 2018 onward. A short walk from Paya Lebar MRT, the suite showcases 1, 2 and 3-bedroom layouts.
As the first integrated development outside the CBD, Paya Lebar Quarter’s Phase One units were snapped up in a day last March, making it one of the most successful condominium launches in Singapore over the last few years.
Out of these buyers in Phase 1, Lendlease revealed that 95% were Singaporeans and Permanent Residents. Out of this group, 60% were under the age of 45.
What’s new in phase 2 of Park Place Residences
Expect 1-bedroom units to start from $900,000, 2-bedroom from $1.15 million and 3-bedroom from $1.80 million. Mr Tony Lombardo, Lendlease CEO in Asia added that the stock of 1-bedroom units in phase 2 are primarily on the upper floors, while 2 and 3-bedroom units are in the premium range.
Additionally, Lendlease announced that they are collaborating with a smart living vendor to equip every home—including those sold in phase 1—with smart technology. Residents can expect to book facilities and pay maintenance fees online, and control parts of their smart home remotely.
What more can we expect of Paya Lebar Quarters
Prices in phase 2 are anticipated to move 5% upwards. Mr Lombardo still believes that despite this, Park Place Residences offers homes that are value for money compared to other developments in the market.
“We’re hoping we can emulate on the first launch. We do know there’s pent up demand because we haven’t opened this show suite to the public since first launch,” Mr Lombardo elaborated.
With the retail and commercial quantum now over 50% pre-committed, Lendlease is expecting this market to pick up as well. Anchor tenants NTUC Fairprice Finest, Kopitiam and Shaw Theatres (with 12 screens) will be moving into the new PLQ Mall.