To lure early-bird buyers, the developer of Parc Riviera (El Development) is taking a novel one-tier pricing approach. They are offering units of the same type from the second to the 15th levels for the same price. For example, a 603 sq ft two-bedroom flat will still be priced at $725,000 whether it is on the second or 15th level or anywhere in between.
Most of the developers charge higher prices for flats on higher floors because higher flats have magnificent views from the top. Flats will be priced the same between the second and 15th floors, while flats higher up the two towers of 36 storeys at Parc Riviera will be offered at higher prices.
EL Development’s managing director, Mr. Lim Yew Soon, said that he came up with that strategy because he wants early buyers to enjoy the maximum benefits.
He also stated that this approach was “a bit old-fashioned” and clichéd. “We are telling people that the price starts from $550,000 for the one-bedroom (unit). We feel that $550,000 is an attractive price, even at the lower levels. But now that we have extended the price to 15 floors, it will be even more attractive,” he added, telling that this might get buyers to come earlier.
This one-tier pricing scheme was on sale last November at the condominium’s soft launch.