Park Colonial Showflat Preview

Buyers flocked in the condominium showflat last July 6, buyers hope to avail some units while the ABSD or Additional buyer’s stamp duty increases.

The Singapore government informed the public that the ABSD will be increased as high as 5 percent points to every Singaporean.

But it was made clear that this doesn’t include Singaporean permanent residents and Singapore Citizens acquiring their first ever residential property.

In the newly built developments like the Riverfront Residences of 1,472-unit  in Hougang, around $755,000 costs for two-bedroom units and buyers need to pay more or less $35,000 under the increased ABSD.

Full carparks and bulk of Singaporeans were noticeable around Park Colonial showflat and Riverfront Residences, and other showflat.

Park Colonial is developed by the partnership of CEL, while Riverfront Residences, is with the collaboration of Oxley Holding.

It was sharp 9 pm when the prestigious company, The Strait Times dropped in Riverfront Residences showflat and they were able to witness bulk of individuals in the queue that even occupied the carpark area. Different real estate agents and buyers were also heading their way to the showflat holding the project literature.
While in the queue, some were taking the chance to analyze the condominium design in the provided brochures, reflecting a wise decision on which unit to acquire and some also were taking advantage of takeaway dinners.

A lot of housewives were in the queue, such as Calista Ng and May Lim, who were at the same time, close neighbours at Kembangan’s Starville condominium.

Calista Ng, 52 and has a goal of acquiring a two-bedroom unit: ” It was about to finish dinner when the real estate agent requested me to go down quick. But seeing the bulk of the crowd, like it is impossible to have a unit of our dreams and choice.”

G Manogaram, a realtor of Hutton,  while witnessing his clients mixed with the crowd said, ” It is both overwhelming ye stressful  because there was a short span of time given to get the transactions done.”

The Strait Times understood the ballot spared for Riverfront Residences units has a deadline line the following day and it was sold in a first-come-first-served basis.