If you’ve been watching the property market, you must’ve noticed the recent spate of en bloc activity. In fact, the entire island seems gripped by collective-sale fever at the moment. Six residential en bloc deals have been sealed in the year-to-date. Serangoon Ville was snapped up for $499 million in July, while projects in the process of going en bloc include Sun Rosier, Florence Regency, Normanton Park and Park West.
If you aren’t one of the lucky owners of a collective sale unit, there is a chance you could still benefit from their good fortune by investing in a property in the vicinity of the collective sale site. When the residents have to move out, they most likely aren’t going to relocate too far away. Changing routines is not something most people relish. This is especially true of older folks and families with kids of school-going age. Parents typically want their kids to continue their studies in the same school to minimise disruption.
Here are five freehold properties within a 2 km radius of the above-mentioned en bloc estates.
The Waterline
En bloc property nearby: Serangoon Ville
Collective sale price: $499 million
Number of units: 244
The Waterline is a 103-unit freehold development that was completed in 2013. Units here average $952 psf, with three-bedders listed on EdgeProp.sg from $1.2 million onwards. The property is just 500 m away from Serangoon Ville, which means that residents will already be familiar with the area’s amenities such as schools (Bowen Secondary, Peicai Secondary and Rosyth) and malls (Nex, Upper Serangoon Shopping Centre and Heartland Mall). A big draw would be the swimming pool and gym, as well as the relative affordability.
Bayou Residence
En bloc property nearby: Sun Rosier
Collective sale price: deal in progress; minimum asking price of $235 million
Number of units: 78
Completed in 2008, Bayou Residence is a 29-unit freehold development that’s quite literally the next street over from Sun Rosier. Residents will therefore be well acquainted with the area’s amenities. This includes several education facilities like Sarada Kindergarten as well as St. Gabriel’s Secondary School, Maris Stella High School and Bartley Secondary School. Bartley MRT is also a stone’s throw away. A 785 sq. ft. two-bedder has been listed on EdgeProp.sg for about $900,000, while a 1,741 sq. ft. two-bedder comes with a $1.5 million list price.
Bliss @ Kovan
En bloc property: Florence Regency
Collective sale price: deal in progress; minimum asking price of $600 million
Number of units: 336 apartments and maisonette units
A seven-minute walk from Florence Regency takes you to Bliss@Kovan, a sleek, modern development that’s just two years old. Comprising 140 apartments, this freehold property is packed with features like a lap pool, spa pool, hydro massage pool as well as a dining pavilion with BBQ and kitchen facilities. Prices hover around the $948 psf mark; two-bedders are listed on EdgeProp.sg anywhere between $1.35 to $1.7 million. No adjustments needed for former residents of Florence Regency, given the proximity. In fact, they’ll now be even closer to Kovan MRT, Heartland Mall and the stretch of eateries along Upper Serangoon Road.
Island View Condominium
En bloc property nearby: Normanton Park
Collective sale price: deal in progress; minimum asking price of S$800 million
Number of units: 488
On the opposite side of Kent Ridge Park from Normanton Park, and nestled amid lush greenery, lies Island View Condominium, a freehold development with 72 units. Built in 1984, the property adheres to fengshui principles: it faces south, is backed by “mountains” (Kent Ridge) and is fronted by water (Straits of Singapore). A short stroll takes residents to Pasir Panjang MRT, the adjacent Pasir Panjang food centre, as well as the small clutch of eateries at the corner of Pepys Road. Prices average $1,015 psf. Being an older development, unit sizes are large; currently a 3,592 sq. ft. four-bedder has been listed for around $4.1 million.
The Parc Condominium
En bloc property nearby: Park West
Collective sale price: expected selling price of $750 million
Number of units: 432
About 2 km from Park West is The Parc Condominium, a 659-unit freehold property. Completed in 2010, median prices are around $1,219 psf, with three-bedders listed on EdgeProp.sg starting from about $1.5 million. Residents can enjoy facilities such as a lap pool, spa pool, gym and BBQ area. And where Park West was somewhat cut off from the conveniences of Ayer Rajah Food Centre and other eateries/services at West Coast Drive because of the AYE, these amenities will now be just a three-minute stroll away.
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