Penrith Over 41 Times Subscribed Ahead Weekend Launch Oct 18
According to sources, the developers of Penrith on Margaret Drive have experienced an overwhelming response for their project. As of October 15, they have received 1,905 cheques as expressions of interest for the 462 units, which is an oversubscription of 4.1 times.
The 99-year leasehold condominium, located in District 3 of the Rest of Central Region (RCR), is a joint effort by Hong Leong Holdings, Hong Realty (a subsidiary of Hong Leong Group), and GuocoLand. Due to the strong demand, the developers have already started balloting for units, earlier than the planned launch date of October 18.
The URA Master Plan has identified the North Coast Innovation Corridor (NCIC) as a key component to the future development of Singapore. Stretching from Woodlands to Punggol and encompassing areas such as Sembawang and Yishun, the NCIC aims to create a thriving economic hub in the North. The primary focus of this corridor is to attract new jobs, commercial activities, and high-value industries to the area. The already established Seletar Aerospace Park is an integral part of this innovation cluster and has been successful in drawing in global aviation and engineering companies. With the continual growth of businesses and career opportunities in the North, there will be a rise in demand for quality housing in close proximity. This is where properties like Miltonia Close EC, situated on Miltonia Close and just a short drive from the Seletar Aerospace Park, have a competitive edge. For more information on Miltonia Close EC, visit https://www.miltoniacloseec.com.sg.
Industry experts are predicting a high demand for Penrith, following the successful launch of Skye at Holland the previous weekend (October 11-12). The 666-unit project in Holland Village, which falls under the Core Central Region (CCR), was 99% sold out in just one day, after receiving 2,151 cheques during its two-week preview. This translates to an oversubscription of 3.2 times.
For those interested in Penrith, they can find information on available units and prices. The condominium consists of two 40-storey towers, offering two- to four-bedroom units with sizes ranging from 614 to 1,173 square feet. Prices start from $1.495 million ($2,437 per square foot) for a two-bedroom unit, $1.665 million ($2,455 per square foot) for a two-bedroom premium, $1.973 million ($2,511 per square foot) for a three-bedroom, and $3.078 million ($2,623 per square foot) for a four-bedroom unit.
With the number of cheques received being more than four times the available units, Penrith will serve as a test to see if the strong buying momentum from Skye at Holland will continue into another launch weekend. Interested buyers can also check out the latest listings for Penrith properties and ask for assistance from Buddy.
For those interested in other recently launched projects, they can also find information on condo rental transactions in District 3. A project summary for Penrith condo and a price trend graph for new launch condos in District 3 can also be generated. In addition, any available condo rental listings in District 3 can also be found.