Home owners at the new condominium can expect high rental demand and good capital gains in the coming years
June 11, 2018
Once in a while, there comes that rare opportunity to make a truly solid investment. And at Park Colonial, the stars certainly seem aligned for property hunters whether they are looking to buy a home to live in or rent out.
Indeed, snagging a unit at Park Colonial makes for a smart investment, with the 805-unit development at Woodleigh Lane offering a good number of affordable sizes from 463 to 1,712 sq ft, putting these highly desirable apartments within the reach of many buyers.
There are many other compelling reasons why this is an ideal property for savvy purchasers.
Being adjacent to the Bidadari Estate, Park Colonial is in a prime position to enjoy good capital gains in the coming decade.
Envisioned as a tranquil urban oasis, Bidadari is set to transform the whole region, with a masterplan that will create a thriving regional park with a lake and a local recreational, social and commercial hub, as well as public housing within a garden-like setting.
“Bidadari is widely referred to as the ‘future Bishan’ due to its central location, which is a huge draw for many home seekers,” says Ken Low, director of project sales and marketing at Huttons Asia. “As a new town, there will be a large volume of Built-To-Order (BTO) flats being pumped into the area.
This will bring about a wide array of amenities and transportation nodes to support the incoming population.”
The future resale prices of these new BTOs may potentially hit a high and be close to those in Bishan as the town continues to mature, he notes.
“This should bring forth a vast pool of future potential resale buyers for Park Colonial, supporting any exit plans investors may have.”
Even without the benefits of Bidadari, there are already many factors in Park Colonial’s favour.
For starters, it is a rare plot located right next to Woodleigh MRT station.
As Mr Low points out, buying property next to an MRT station is still key for investment, as it is always top-ranked in most tenants’ criteria.
“This is especially so with its central location being just a few train stops away from many key stations, such as Dhoby Ghaut, Outram Park and HarbourFront,” he adds.
Then there are the countless amenities in Woodleigh.
Just for shopping and entertainment alone, there are three malls in the vicinity – NEX Shopping Centre, which is the largest mall in the northeast, as well as upcoming malls at the Poiz mixed development on Meyappa Chettiar Road, and across the street as part of an integrated development.
“Park Colonial’s residents literally do not need to go far to get their daily necessities,” says Alvin Tan, executive director of PropNex International.
Not only that, families will appreciate the proximity to educational institutions surrounding the development, including Stamford American International School, St. Andrew’s Village with its primary and secondary schools and junior college, Maris Stella High School and Cedar Girls’ Secondary School.
Not forgetting the many options for sporting activities available at the nearby stylish new sports park, The Arena, and the Kallang Park Connector for nature-lovers.
Over and above that, there is another reason why the location is a draw for investors.
“With the Tai Seng – Ubi commercial clusters as well as the Central Business District just a short commute away, there will always be ready rental demand,” explains Eugene Lim, key executive director at ERA. “This is likely to appeal to investors who wish to rent out their units.”
In any property purchase, says PropNex’s Mr Tan, investors are always told that it’s about “location, location and location”.
“That’s the most important factor in a buying decision because it offers potential upside in the future,”he explains. “Of course, having a reputable developer like CEL Development, Heeton and KSH Holdings with strong track records in construction and development is also important to ensure the quality of the finished product and on-time delivery.”
ERA’s Mr Lim concurs: “The project’s excellent location right next to the up-and-coming Bidadari estate is in itself attractive. Then its city-fringe location coupled with the fact that it is next to the Woodleigh MRT station are key catalysts for future price growth.”
With the luxury of a big land size, prospective buyers of Park Colonial can also look forward to a wide range of modern facilities and unit types well-suited for different household types – from singles and young couples to large families.
Like other market watchers, Huttons’ Mr Low is confident that Park Colonial will draw great interest from both investors and home seekers across the island. “With Bidadari being a new and growing town, there is a huge advantage of being a first mover, where buyers get to enjoy the full spectrum of potential appreciation as the town matures.”
Indeed, discerning buyers are poised to make their move on Park Colonial, ready to grab that sliver of a chance before the window of opportunity closes.
Question is, will you be one of them?