Copen Grand, the first executive condominium (EC) at the upcoming Tengah Town is fully sold today. Eligible buyers today (Saturday - 26 November 2022) snapped up all the remaining units at this beautiful executive condo project, which had an average launch price of around S$1,300 per square foot (psf), with an additional 3 per cent applied to units sold under the deferred payment scheme.
Under the deferred payment scheme, buyers make instalment payments only after getting their Temporary Occupation Permit (TOP).
Executive condos have traditionally been very popular with young home buyers as they are subsidised by the government in pricing, usually endowed with full condo facilities and are fully privatized 10 years after TOP therefore offering EC owners a possible higher potential upside.
"The only other executive condo that could rival this amazing performance was the 531 unit - Hundred Palms Residences EC launched in July 2017 with the selling price starting from $7xxk onwards developed by reputable developer Hoi Hup who won the bid for the land parcel at about $678 per square foot per plot ratio (psf ppr)" said real estate analyst, Kiwi Lim. Hundred Palms Residences EC was sold within one day when launched.
Green features. Smart technologies. A pulsating symphony of sights and sounds. Tengah Town promises all this, as well as other innovative breakthroughs including a centralised cooling system and pneumatic waste disposal systems. Earmarked as the hub for 42,000 new homes within the next two decades, the blueprint has been set in place to create the west side's latest urban sanctuary, with Singapore's first car-free HDB Town Centre featuring AI-enabled system.
At the heart of Tengah Town, residents of Copen Grand can enjoy unrivalled accessibility to not one but three MRT stations on the upcoming Jurong Region Line and access to a bus interchange. Just a short walk will take you into Tengah Town Centre where a wealth of shopping, dining and entertainment options complement a sports centre, community club and polyclinic. Residents of Copen Grand can also look forward to enjoying the nearby Central Park and Forest Corridor that brings some tranquillity each day – all in the name of truly becoming one at home with nature.
Real estate professional Kiwi Lim believe that this amazing achievement is not only due to huge pent up demand and short supply of available executive condo units in the Singapore property market. The attraction of Tengah Town - Singapore’s first smart and sustainable town as well as its proximity to Jurong Innovation District - an advanced manufacturing hub also Singapore’s largest mixed use business district outside the city centre.