What’s the secret behind High Park Residences’ extremely strong sales?

Cheapness is not the only factor.

High Park Residences was the undisputed champion of new home sales in July. Although the project’s relative cheapness played a big role in moving units, analysts note that other factors were also at play behind the strong sales.

“Quantum play pushed sales of High Park Residences with small-sized units making individual units palatable. This is coupled with unit prices falling below the psychological barrier of $1,000 psf,” said Desmond Sim, Head, CBRE Research, Singapore and South East Asia.

Barclays analyst Tricia Song noted that units at High Park Residences were cheaper compared to nearby projects Rivertrees and Riverbank which were both launched in February 2014 at S$1,111psf and S$1,033psf respectively.

“We believe the success was due to its relatively low price (median S$989psf) and proximity to the new aerospace hub,” Song said.