A new executive condominium (EC) launches tomorrow, bringing new life to the market which has been quiet for awhile now. The Hundred Palms Residences EC in Choa Chu Kang is only the second EC to be launched in 2017, following the iNz Residences, also in Choa Chu Kang, which was launched earlier this year in February.
Photo credit: hundredpalmsresidences-officialsite.com.sg
Hundred Palms Residences consists of 531 apartment units and boasts “smart home technology“, similar to that in iNz Residences. Developed by Hoi Hup Realty, this new EC will have 3-bedroom units ranging from $715,000 to $975,000 while 4- and 5-bedders start at $1.03 million and $1.19 million respectively. At the 497-unit iNz Residences, more than half the units have already been sold, following a keen response of 450 e-applications received during the weekend of its launch.
Property players are expecting the Hundred Palms Residences to have equally, if not more fervent response from the public as it is primely located within the vicinity of Hougang and Serangoon North and close to Rosyth primary school. As there has not been many EC launches this year, and the next one could be launched only next year, the developer is likely to be banking on the momentum from recent months to carry forth into the next quarter, at the very least. Out of the 1,394 apartment units sold last month, about over a quarter were ECs. In fact, the best-selling project in May was Sol Acres in Choa Chu Kang Grove. If anything, it seems like the estate is gaining attention amongst buyers and tomorrow’s launch may hit new highs.