Singapore Developers Get Creative With ‘Sports-themed’ Apartments To Attract Buyers

15/08/2012 12:57 am

 

The Singaporean property scene has revealed some unique projects recently, ranging from ‘sports-themed’ condominiums like Parc Olympia, to luxurious residences designed by world renowned architects like D’Leedon and Reflections by the Bay.

The objective for Developers producing themed projects is to differentiate, brand and sell and it seems to be working. Parc Olympia in Pasir Ris sold more units than its more mundane neighbouring project, Palm Isles. Parc Olympia sold 16.5 precent, (80 out of 486 units), while Palm Isles sold 13.5 precent (58 out of 429 units) of units offered on its first weekend launch.

Alan Tan, head of Project Advisory, HSR International Realtors said: “Developers are going into these themes basically for product differentiation and branding. The differentiation itself will create more awareness and hype. It will lure more buyers to come.”

A huge amount of incoming supply is expected to put more pressure on developers to innovate to obtain sales. 8000 more private residential units are expected to hit the market in the second half of 2012, bringing the total units introduced to an estimated 21,046 for this year. Compared to 2011, the total number of units introduced for the year was 17,710.

For property developer, Koh Brothers, brainstorming for concepts begins once a piece of land is successfully tendered. However, location still holds primary influence on value and innovative initiatives like themed development only adds value after these macro factors are considered.

Check out the sales clip for Parc Olympia below.