What are the new developments near Normanton Park which will form a good comparable for buyers?
Most recent launch will be Kent Ridge Hill Residences by Oxley Holdings. A 548 unit, 99 year leasehold development on South Buona Vista Road, previews at average $1,700psf, as reported by 99.co on 18 October 2018.
Base on the estimated breakeven price from edge prop vs the launch price, it is in my opinion that developers are taking a very cautious approach in launching their development. Which will turn out to be advantages to the buyers in today’s market.
On 11 November 2018, Edgeprop reported a total of 110 units out of 250 released were sold on the first day of launch by balloting. The average price achieved for the units sold was $1,714psf.
Similarly, to Normanton Park, both developments enjoy the large greenery offered by Kent Hill Park, with canopy walk linking to Hort Park. Home-owners or Tenants who enjoy the nature will prefer such a development.
As we study deeper into the locations of both developments, we will notice Normanton Park is located right beside Science Park. This may potentially form the immediate pool of Tenants for investors of Normanton Park. Just a short drive away, will be One-North and National University of Singapore / National University of Hospital via Ayer Rajah Expressway. These may form the next potential pool of Tenants for Normanton Park.
Normanton Park will be very near to Tanglin Trust School, an international school for children from age 3 to 18. Been close to an international school will naturally form part of the considerations for expats coming to Singapore with their family.
Estimated to launch in 1st half of 2019, we should expect a high level of interest for this development. Register your interest if you are keen to explore this brand new development in Normanton Park.