Coco Palms, the new 944-unit development by City Developments (CDL), Hong Leong Holdings and Hong Realty (Private) Limited, saw brisk sales when it was launched last weekend.
490 out of the 600 units released were sold as of 3 pm on 18 May. The apartments were priced at an average of $980 per square foot (psf), as part of an early bird advantage.
Coco Palms is CDL’s fifth and final development in Pasir Ris Grove and is a five-minute walk from Pasir Ris MRT station.
Chia Ngiang Hong, Group General Manager of CDL, said, “Originally, we had planned to market this final premium plot at between $1,100 and $1,200 psf as it is the closest to the MRT station. However, as the Group had acquired this site at a historically low price and it has been part of our legacy landbank, this affords us the opportunity to price this launch attractively. The positive take-up rate reflects homebuyers’ demand for well-located homes that are sensitively priced.”
75 percent of the buyers are Singaporeans while Permanent Residents and foreigners from Malaysia, China, Hong Kong, Indonesia, Taiwan, India, Myanmar and the US made up the remaining 25 percent.
All one-bedroom units have been sold, and two-bedroom apartments enjoyed a good take-up rate as well.
Remaining available units start from $732,000 for a two-bedroom to $1.7 million for a three + study penthouse unit.
Image: Crowd at Coco Palms’ first day of launch (Source: CDL)
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
Related Stories:
Strong take up expected for Pasir Ris condo
Commonwealth Towers’ location attracts strong sales
175 units taken up at Commonwealth Towers launch