Investing in Upcoming Condo at Blossoms In The Park
Whether purchasing for profit or personal use, Blossoms By The Park merits careful consideration.
Due to the restricted number of housing alternatives in one-north, investors are unlikely to have a lack of tenants. Currently, the only constructions in one-north are The Rochester (TOP 2011) and One-North Residences (TOP 2009). Dover Parkview (TOP 2000) and Heritage View are two further older subdivisions on the outskirts of one-north (TOP 1997).
Therefore, it is not surprising that 85 percent of One-North Eden’s apartments were sold over its opening weekend in April.
In addition to rental return, one-north residential properties have performed well in terms of capital appreciation. Below, we examine the performance of One-North Residences and The Rochester since their debut.
The highest average quarterly price obtained by One-North Residences and Rochester Residences since their respective launches is $1,626 psf (up 76%), and $1,553 psf (up 22%), respectively. This demonstrates the financial potential of one-north homes.
In addition, Blossoms By The Park is located in the center of a thriving high-tech, R&D, and innovation area. As a result of the Singaporean government’s commitment of $25 billion over the next five years to bolster its R&D capabilities, therefore reinforcing one-status north’s as the main “Silicon Valley” in Asia, it is anticipated that more global technology companies would establish facilities here.
It is unsurprising that residential properties in one-north are fetching a healthy average rental yield of 3.2 percent to 3.5 percent, given its advantageous location with an abundance of local and international schools, easy access to a vast array of amenities, and an excellent public transport network that connects it directly to the Central Business District and Downtown Singapore. This is more than several properties in District 9, including Orchard Road, Newton, and Novena.
Note, however, that it may face competition from a number of new advances. These include One-North Eden with 165 units and Normanton Park with 1,862 units. Both are anticipated to be finished in 2023. In addition, Blossoms By the Park will soon be joined by a new development consisting of around 140 apartments.
In spite of this, Normanton Park is situated next to Science Park 1 and on the edge of one-north. Due to its less advantageous position, 5 minutes’ drive from the closest MRT station (one-north), it should face less direct competition.
One-north will benefit from the revitalization of the Greater Southern Waterfront and the West Region from a longer-term investment standpoint, Tuas Mega Port and Jurong Innovation District.
It is anticipated that these changes would result in a more interesting environment for work-live-learn-play. This will be accomplished by generating additional employment possibilities and providing needed amenities and recreational facilities. To further improve the quality of life, green pathways and natural parks will also be created.
As these changes are still in their infancy, a new property such as Blossoms By The Park will provide intelligent real estate investors the first-mover edge.
Blossoms By The Park’s closeness to an abundance of flora, which creates a serene living environment, is an additional selling point. In addition to the charming colonial bungalows and flats that dot the estate and the surrounding Rail Corridor, inhabitants can anticipate a living experience that mixes modernism, nature, and an old-fashioned charm.
Blossoms By The Park, a medium-sized development with 265 apartments, will enjoy a degree of seclusion despite its closeness to a variety of facilities.
With escalating land costs and new developments in the Outside Central Region (OCR) reaching or above $2,000 psf, a Rest of Central Region (RCR) development such as Blossoms By The Park will be a more appealing alternative.
Rail Corridor And Other Outdoor Activities
The Rail Corridor is a former railway route that spans 24 kilometers from north to south across Singapore, connecting the planned Woodlands North Coast and Greater Southern Waterfront. It travels through locations like as Bukit Timah, Queenstown, and Buona Vista, where Blossoms By The Park is situated.
It will be changed from a “green corridor” into a communal place connecting one million people within one kilometer of the Rail Corridor. It is expected to be finished this year and will promote the revitalization of existing areas and the development of neighboring property. The Rail Corridor will transport tourists through a range of natural parks, landscapes, towns, and one-of-a-kind experiences. In addition, new cultural, commercial, and leisure complexes will be constructed in its vicinity.
Under the URA Master Plan, Buona Vista stretch next to the one-north business park will be turned into a lively activity place where employees and surrounding residents may enjoy events like outdoor cinema screenings.
Under the neighboring Queenstown bridge, a Passage of Light will be constructed with dynamic floor lighting that reacts to the pace of travel. It will illuminate in various ways when a cycling or pedestrian goes past. There will also be a garden of fireflies.
These intriguing new initiatives can only improve the quality of life for future Blossoms By The Park inhabitants. With its closeness to vegetation and parks, one-north provides an abundance of nature that cannot be found in Singapore’s central business district.
Natural Surround Blossoms By The Park
Within one-north, there are two natural parks: one-north Park and Nepal Park.
Covering the full length of one-north, one-north Park is a 16-hectare park comprised of 13 property parcels. The park is crucial to the creation of a work-live-play-learn environment, since it links important projects such as Biopolis, Fusionopolis, Mediapolis, and the one-north MRT station.
Located next to Biopolis on a mountainous terrain, one-north Park is home to several varieties of trees and bushes. Those who work or reside at one-north have access to a vibrant and beautiful environment for relaxation.
The park also has vast open lawns and plazas for visitors to exercise or have a picnic, as well as a playground and waterwall for children.
In addition, the ESSEC Business School Asian campus, the Unilever Four Acres Singapore site, and a number of major MNCs are situated in Nepal Park. These include, among many others, Google, Microsoft, Dell Technologies, and Apple.
Several of the area’s low-rise structures and colonial bungalows have been transformed into offices.
Blossoms By The Park people will experience an abundance of fresh air due to the profusion of green “lungs” In addition, the charming colonial residences provide a distinct old-world beauty to Singapore’s tranquil atmosphere.
Educations Institutions of Learning Near Blossoms By The Park
Blossoms By The Park is in close proximity to a number of schools and institutes of higher education. In fact, the region around Buona Vista and Clementi is recognized as a center for education. Two primary schools, Henry Park and Fairfield Methodist are within a 1 to 2 kilometer radius and will provide admission preference to pupils entering Primary 1.
Transformation near One-North
Numerous big alterations are occurring, which will assist to increase property prices in one-north. These consist of The Southern Greater Waterfront, Jurong Innovation District, Jurong Lake District, Tuas Mega Port.
The Southern Greater Waterfront
The Greater Southern Waterfront is one of the most exciting government-led transformations in Singapore, with a ministerial task team charged with its development. It will be changed from Marina East to Pasir Panjang into a new main gateway and place to live, work, and play. It will be twice as large as Punggol and six times the size of Marina Bay, with 30 kilometers of shoreline extending from Gardens by the Bay East to Pasir Panjang.
The ambitious proposal includes new residential and commercial projects, lifestyle, recreational, and entertainment facilities, waterfront promenades, and green corridors. To allow individuals to work close to their homes, more employment will be created.
Jurong Lake Region (JLD)
It will be the biggest mixed-use commercial zone outside the Central Business District at 360 hectares (CBD). It will have high-quality workplaces, residences, facilities, and ample green spaces, as well as a leisure and entertainment cluster planned around Jurong Lake to capitalize on the area’s distinctive lakefront and garden environment.
The development of JLD will focus on four major themes: Hub for Future Economy, New Paradigm of Mobility, Smart Sustainable District, and Gardens and Waters District. In fact, it has been termed Singapore’s second central business district.
Innovation District of Jurong (JID)
It will be an industrial region for sophisticated manufacturing supported by an ecosystem of manufacturers, technology suppliers, researchers, and educational institutions like as Nanyang Technological University, which will be served by six future Jurong Region Line (JRL) stations. JID is envisioned as a sustainable and livable industrial estate with a thriving environment for advanced engineering in the future. It will also be the site of flourishing industry-academic partnerships.
Tuas Mega Port
By using enhanced technology and more efficient operations, this port of the future will be able to accommodate 65 million TEUs by the year 2040. This will be twice the amount handled by all ports in Singapore today. As a result of the port’s worldwide reach and interconnectedness, factories in Tuas and Jurong will have shorter production-to-market cycles.