The showroom of the 920-unit North Park Residences, which will be part of an integrated development called Northpoint City.

By Ariel Lim
The Straits Times
Apr 14, 2015

OF THE 600 units released for sale at North Park Residences in Yishun on Saturday, 413 have now been sold.

That is up from the 313 units that were shifted at the “soft launch” on April 5. Singaporeans make up about 87 per cent of the buyers while
permanent residents account for around 10 per cent.

And about 40 per cent of buyers come from outside the northern part of the island, which developer Frasers Centrepoint said was a sign of interest in Yishun. Frasers Centrepoint’s chief executive of development and property, Mr Cheang Kok Kheong, estimated that about half of the buyers are HDB residents keen to upgrade to a condominium, while about half intended to rent out their units.

Mr Elson Poo, Frasers Centrepoint’s general manager of sales and marketing of development and property, said the medical facilities in the area meant that buyers could choose to rent out their units now and move in during their retirement. The 920-unit North Park Residences will be part of an integrated development in Yishun Central called Northpoint City.

The existing Northpoint Shopping Centre will be integrated into the development, which will also contain a transport hub providing access to Yishun MRT station and a bus interchange. The Yishun public library will also be located within Northpoint City, as will the Nee Soon Central Community Centre, which will be the first community centre to be located within a shopping mall.

Northpoint City is scheduled for completion by 2018 while North Park Residences is slated to be finished by 2020, said Frasers

Ms Jannie Chang, a married property agent in her 40s, bought a one-bedroom studio in the development. She told The Straits Times that the unit was her third property, after an HDB flat and a shophouse.

She said she was attracted to the condominium primarily by its proximity to public transport and hospital facilities. Ms Chang added that she intends to stay in the condominium unit for one to two years before renting it out. Botanique at Bartley, a 797-unit condominium in Upper Paya Lebar Road, also did well.

About 200 of the 360 units released for sale by UOL Group on April 4 have found buyers, 81 per cent of whom are Singaporean.

This article was first published on April 14, 2015.
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