Parktown Residence Review: 87% Sold & Is It Worth the Price?

I have followed Singapore’s property market for years. I watched many new projects, but Parktown Residences made me pause. I visited the showflat soon after its launch and liked how it incorporated housing, shopping, and transport in one site. I share my findings here to help you evaluate if Parktown Residences fits your needs.

Parktown Residences sits in Tampines North and aims to raise the area’s appeal. Its developers include CapitaLand, UOL Group, and Singapore Land Group. They draw on their history to create a project with a 99-year lease and a planned completion in two phases by 2033. I noticed strong sales during launch weekend, and that drives many buyers to ask: Is this the right place for long-term living or investment?

Overview and Key Facts

Buyers can choose units from 1 to 5 bedrooms. The site includes an air-conditioned bus interchange, an on-site mall, and a hawker center. My favorite aspect is the direct MRT link via Tampines North station. Construction time extends to 2033, which suits those with a longer horizon.

Floor Plan Analysis

I spoke with sales staff who highlighted the efficient layouts, especially for 2-bedroom units. I found the project’s pricing higher than some nearby condos. However, the location with an MRT station next door may justify this. I also saw families looking at 4-bedroom and 5-bedroom layouts for multi-generational living, which shows the condo’s versatility.

Unit Distribution

The configurations vary across blocks. Smaller units feature open-concept kitchens, while larger homes include enclosed kitchens and more storage. Buyers get select smart home features and built-in wardrobes. Some premium options include balconies for extended relaxation.

Unit Pricing and PSF Details

Premium units cost about 20% more than base models. The average PSF hovers around $2,100+. This might appear high next to some resale condos, but integrated developments often command a price gap.

Sales Performance

• Launch Weekend (Feb 2025): 1,041 units sold out of 1,193 total, about 87%.
• Buyer Profile: 85% were Singapore citizens who intend to occupy these units.
• Key Factors: Direct access to the upcoming Tampines North MRT station, the on-site bus interchange, and the developer track record.

Some showflat visitors cited the convenience of a mall below their home. I saw long queues at the launch, which signals strong demand.

Site Plan Highlights

Major Components

• Residential Towers: 12 blocks placed to maximize views.
• Retail Hub: 14,000 sqm of shops, dining, and services, with an underground link to the MRT.
• Integrated Transport: On-site bus interchange featuring electric vehicle charging spots.
• Landscape: 80% coverage with gardens and a green boulevard.

This layout supports daily life needs within the development. The immediate MRT connection supports quick travel to central areas.

Connectivity

• Three-minute stroll to Tampines North MRT on the Cross Island Line.
• Direct link to TPE and PIE for quick drives.

I tested the route by car and reached Changi Airport in about 15 minutes.

Developer Background

This trio split the project’s ownership, with CapitaLand holding 50% and UOL/SingLand sharing the rest. They bring their past success in transit-linked sites to Parktown Residences.

Why Parktown Residences Stands Out

Parktown Residences bridges living, shopping, and commuting. Its phased handover means the development will evolve over time. Despite higher prices, many buyers are betting on future returns, thanks to strong transport links and planned expansions in Tampines.

My Take

I saw well-sized family layouts and a well-thought design that aims to balance privacy with convenience. The mall’s presence reduces the need for travel. Yet, some buyers may prefer a cheaper project. I suggest comparing the long-term upsides, like direct MRT integration and a full suite of services, against the price premium.

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Connectivity and Accessibility

Public Transport

• Tampines North MRT (Cross Island Line): Direct access, ready by 2030.
• Bus Interchange: Provides over 15 routes, housed in an air-conditioned facility.
• Cycling Network: Tampines plans a 30KM cycling path, which can be a draw for those who bike regularly.

Road Access

• Drivers can reach PIE, TPE, and KPE in about 5 minutes.
• Changi Airport is about 15 minutes away by car.

This integrated transport structure supports busy professionals or families who value quick commutes.

Nearby Educational Institutions

Families see real benefits in having top schools within a short commute. I spoke with a parent who noted that a direct bus route to St. Hilda’s is planned, which can save travel time.

Amenities and Lifestyle

Retail and Dining

• On-Site Mall: 14,000 sqm with groceries, dining spots, and service providers.
• Tampines Central: Ten minutes by car for Tampines Mall, Century Square, and Our Tampines Hub.

Recreation

• Facilities: A 50m infinity pool, sky gardens, BBQ pavilions, and an indoor gym.
• Parks: Tampines Eco Green Park (about 800m away), Tampines Central Park (1.5KM).

Healthcare

• Changi General Hospital (3KM distance)
• Bedok Polyclinic (4KM distance)

This setup ensures that daily needs and leisure activities stay within easy reach.

URA Master Plan Benefits

Tampines North will see improved roads, bus routes, and park connectors. Commercial expansions in Tampines North Hub aim to boost job opportunities. By 2035, the area should feature robust public spaces, new retail spots, and a green corridor. Parktown Residences benefits from these changes, including the phased opening of the Cross Island Line.

Comparative View: Why Parktown Residences Attracts Interest

The key competitive edge comes from built-in transport infrastructure and a large retail podium.

Growth Drivers

1. Cross Island Line: Eases travel to the CBD and Changi Airport.
2. Master Plan: Boosts Tampines North’s roads, parks, and job hubs.
3. First-Mover Advantage: Early buyers gain potential price upside before other future launches.

These drivers support capital appreciation over a longer period, especially after the transport links open.

Price Trends and Appreciation

Past 5 Years: Nearby Condos

Parktown Residences launches at a higher price point. However, it could align with future pricing once new MRT lines and commercial spots materialize.

Rental Yield

Parktown Residences may see yields around 3.5–4%, given its starting price and premium factor. Over time, as the integrated amenities open, rentals might increase.

Benchmarking with Other Options

Sales Price for 2-Bedroom

Rental Price for 2-Bedroom

Parktown Residences positions itself at a higher base price than certain neighboring condos. For rent, it targets an upper range, partly because of the integrated transport and retail features.

Concluding Thoughts

Parktown Residences provides a complete living experience. It sets a higher price, but the convenience and future returns may appeal to buyers with a longer horizon. I believe these points stand out:

• Location Benefit: Next-door MRT, bus interchange, direct highway access.
• Amenities: On-site mall, childcare, green spaces, and a hawker center.
• Future Outlook: Likely appreciation once the Cross Island Line completes.

Potential drawbacks include higher upfront cost and a phased approach that stretches the final handover to 2033. New or resale condos in Tampines might be cheaper, but they usually lack integrated features.

If you can afford the premium and plan to stay invested for several years, Parktown Residences aligns well with both family needs and investment potential. The strong sales figures confirm the market’s positive view.