In the first half of this article, which was published last week, we analysed whether Park Colonial met the expectations of buyers when it launched for sale, and its subsequent price performance. In this article, we’ll dig deeper into specifics and see who were the buyers that realised a profit on this project.
Park Colonial is an especially interesting condo to study, including the fact that it sits next to a relatively higher-priced integrated development, namely Woodleigh Residences in Bidadari.
This proximity could help us to answer the question of whether condos perform better or worse compared to their mixed-use counterparts. Buyers effectively choose between paying a premium for a unit in an integrated development and its associated convenience or opting for a relatively lower entry price for a condo in the same vicinity.
As some blunt buyers have pointed out, being next to the integrated project means having access to the same amenities anyway, so why pay more? Here’s a look at the transaction data faced by owners at Park Colonial.
How have prices at Park Colonial moved?
We examine how prices moved across three phases: from the condo’s sales launch, through to the immediate completion* window, and into today’s resale market.
*We will define completion as the moment when the project receives its Temporary Occupation Permit (TOP)
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