HDB announced the Launch of 2 Executive Condominium (EC) Websites for tender–one at Parc Greenwich at Sengkang and Another in Tampines Street 62 in Tampines North. Taking a look at the place of the EC sites, we believe the 480 units of this Parc Greenwich EC could end up being a hit among buyers as it finally starts in 2021. Here is why:
Hint #1: The Parc Greenwich EC will probably be well-served by comforts despite its out-of-central Site
Make no mistake, the place of the majority of executive condos, that can be at the beyond Central Region (OCR) at Singapore, means that it is always much better to get a vehicle than rely on public transportation particularly for commuting to work in town.
But it is still perfect for ECs to get some conveniences within walking distance, and that is the place where the Parc Greenwich EC stands outside, though it sits directly at the border of Sengkang city.
Directly opposite the condominium is the streamlined shopping center Greenwich V, which mostly serves citizens of Seletar Hills Estate. The mall includes a Cold Storage supermarket, a food court, a practice, a fantastic assortment of dining choices and a couple of enrichment and childcare centers.
For more conveniences like a theatre, the Parc Greenwich EC resident will be approximately a 10-minute walk, or 2 bus stops, from Your Seletar Mall. The mall is part of a bustling hub which includes Fernvale LRT station along with a incorporated community center (to be finished in 2020). The famous Jalan Kayu food belt, also famous because of its pratas, is also a similar distance from the EC.
Residents who have lived in the region for decades while there is no MRT station in the doorstep, becoming to a is a simple affair. There is a well-served bus stop directly outside the condominium combined Yio Chu Kang Road, where bus number 70 take occupants to Serangoon MRT station (and NEX mall) within 20 minutes.
Once residents reach Serangoon MRT station, it is just another half an hour into the CBD. Not too shabby a traveling time in any way. Additionally, there are two main schools within a 1km radius, among which (Fernvale Primary School) is a five-minute stroll off.
Meanwhile, the drivers are inside three-minutes drive into the entry of the Central Expressway (CTE), whose traffic requirements will be improved with the introduction of the North South Corridor at 2026. Astonishingly, Changi Airport is only a 15-minute drive through the local Tampines Expressway (TPE).
Hint #2: The Parc Greenwich EC website is surrounded by self-improvement greenery and developments
Among the most rarely shared land buying ideas is to locate a house near a property, better still if it is a device which overlooks you. Apart from getting permanently unblocked perspectives, living close to a property generally means less audiences and increased tranquiity.
The Parc Greenwich EC will probably climb to a height of 15 storeys. Surrounding developements (or the absence thereof) provides the place an unhurried, laid-back vibe that’s unlike condos everywhere in the bustling city of Sengkang. On the south of this Parc Greenwich EC is your low-rise, mostly landed Seletar Hills Estate. On the west of this plot sits largely undeveloped property, which is currently home to a fish farms and a fish industry.
Residents are also not far from Sungei Punggol, a lush all-natural river that is home into a wetland and mangrove habitat causing the favorite Waterway @ Punggol.
On the flip side, if you would want more hustle and bustle or can not afford to wait till 2021 for an EC, there is another job at Sengkang, Ola, that is set to start in Q2 2020.
Situated in District 28 and close to Seletar Aerospace Park, the Parc Greenwich EC is going to be part of a bigger expansion story that’s seen the district grow in a sparsely populated area to a family-friendly residential district.
Half of this property from the Park will be committed to the aerospace business, while the remaining half is going to be inhabited from Seletar Airport.
Already, more than 60 multinational businesses have set up shop there, such as Rolls-Royce and GE Aviation. The continuing development of the aviation center may mean greater need for home, both from buyers and tenants with tasks in the region. With time, this may promote a rise in real estate value.
The figures speak for themselves. statistics has indicated that median per square foot (psf) requesting prices for private houses in District 28, in which the forthcoming Parc Greenwich EC is situated, has climbed by 26% over the previous 3 decades. (The entire SIngapore median psf growth is 12% during precisely the exact same period.)
The Topiary, a yet-to-be-fully-privatised EC located close to the Parc Greenwich EC website, has seen typical psf selling costs rise from a launch cost of $735 psf at 2013 to $867 psf (the median psf cost of the past five units sold)–a rise of 18%.
Overall, the data proves that place where the forthcoming Parc Greenwich EC is situated belongs to some high-growth region, which might be further promoted by the recent statement of an MRT line maybe running throughout the neighbourhood and contributing to the city.
So, by now Parc Greenwich EC buyers achieve their 10-year Minimum Occupation Period (MOP) from the 2030s, they’ll probably have noticed healthy appreciation of the possessions.
Just how much does the Parc Greenwich EC price?
Colliers International anticipates 7-9 bids for Parc Greenwich EC site along with the best bid price to come in at $260 million or $500 psf ppr, using a projected end-selling cost of $950-1000 psf.Given the launching date of this job will probably be published at least one and a half a year following the winning bid (which is to be declared soon following tender closes on 3 March 2020), we estimate that the psf price may be $1,050 when the job is finally launched at the next half 2021.
For reference, here are the price for condos that are nearby: