New Launch Condo in North-East Region
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Tenure
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TOP
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Owning a condo in the north-east of Singapore
he North-East region of Singapore has been a popular destination for new condo launches in recent years. With its convenient location and abundance of amenities, it has become a highly sought-after area for both locals and foreigners looking to invest in property.
Developers have been quick to respond to the growing demand for housing in the North-East region, launching a variety of new condo projects in the area. These projects offer a range of unit sizes and prices, making them accessible to a wide range of buyers. From luxury high-rise developments to more affordable mid-range options, there is something for everyone in the North-East region’s new condo market.
If you’re in the market for a new condo in Singapore, the North-East region is definitely worth considering. With its excellent location, great amenities, and wide range of new condo launches, it’s no wonder that it has become one of the most popular areas for property investment in the city-state.
Capital Appreciation
One of the most significant benefits of owning a new condo in the North East region is the potential for capital appreciation. The North East region is home to many upcoming developments, including the Punggol Digital District and the Cross Island Line. These developments are expected to increase property values in the region significantly. Additionally, the North East region is known for its excellent connectivity to other parts of Singapore, making it an attractive location for both locals and foreigners.
Rental Demand
Another benefit of owning a new condo in the North East region is the high rental demand. The region is home to many reputable educational institutions, including Nanyang Polytechnic and the Singapore Institute of Technology. As a result, there is a high demand for rental properties in the area, making it an excellent investment opportunity for those looking to earn rental income.
Limited Availability
Finally, owning a new condo in the North East region is an excellent investment opportunity due to the limited availability of new properties. The region is known for its limited land supply, which makes new condo launches highly sought after. As a result, owning a new condo in the North East region can be a valuable asset in the long run.
Amenities in North-East
The North-East Region of Singapore is a popular location for property investment, thanks to its accessibility, vibrant community, and abundance of amenities. In this section, we will explore some of the amenities that make the North East an attractive place to live.
Schools
The North-East Region is home to a variety of educational institutions, ranging from primary schools to tertiary institutions. Some of the notable schools in the area include Edgefield Primary School, Edgefield Secondary School, and Punggol View Primary School. These schools are known for their excellent academic standards and well-rounded education.
Shopping Malls
The North-East Region is also known for its shopping malls, which offer a wide range of retail and entertainment options. Some of the popular malls in the area include Compass One, Rivervale Mall, and Punggol Plaza. These malls are home to a variety of shops, restaurants, and entertainment facilities, making them a popular destination for both residents and visitors.
Outdoor Parks
For those who enjoy the outdoors, the North-East Region has plenty of parks and recreational areas. The Punggol Waterway and Promenade is a popular spot for jogging, cycling, and leisurely walks, while the Punggol Beach and Park offers a scenic view of the sea and a variety of water sports activities. Other outdoor parks in the area include Sengkang Riverside Park and the Lorong Halus Wetland.
Price Trend for North-East Condos
The Singapore property market, particularly in the North-East Region, presents varied trends in price movements for new launch condos versus resale condos. Here’s an analysis based on recent data and insights.
New Launch Condos in the North-East Region
New launch condos have garnered significant interest due to the region’s development, connectivity, and amenities. This area, which includes Sengkang, Punggol, and Hougang, has undergone substantial urban development, making it a prime location for property investment.
Key Highlights:
- Competitive Prices: New condos in this region offer a range of prices to cater to diverse buyer segments. For example, a 2-bedroom unit at Sengkang Grand Residences starts from S$1,124,800.
- Modern Facilities: These properties are equipped with contemporary amenities and are strategically located.
- Capital Appreciation: Potential for value growth makes new launch condos attractive investment options.
Resale Condos in the North-East Region
Resale condos offer a different value proposition compared to new launches. They tend to be more affordable and provide immediate occupancy, which is beneficial for buyers looking to move in or rent out quickly.
Key Highlights:
- Affordability: The median sales price for a resale condo in the North-East Region is approximately S$735,805.
- Immediate Occupancy: Buyers can move in or rent out the property without waiting for completion.
- Price Per Square Foot (PSF): The PSF can vary widely based on the property’s age, condition, and exact location. For instance, a 3-bedroom unit was available for S$735,000, translating to S$726 PSF.
Price Trends and Market Dynamics
The gap between prices of new launch and resale condos has been narrowing since 3Q2023. The average prices for resale and new condo units islandwide are $1,606 per PSF and $2,467 per PSF, respectively.
Factors Influencing Price Trends:
- Rising Prices of New Launches: Driven by high land costs and construction expenses.
- Attractiveness of Resale Condos: Immediate availability and potential for price negotiation make them appealing.
- Robust Demand: Reflecting both short-term growth and sustained yearly appreciation.
Conclusion
The North-East Region of Singapore offers diverse opportunities for property investors and buyers. Whether opting for the modernity and potential appreciation of new launch condos or the affordability and immediate occupancy of resale condos, there are compelling reasons to consider investing in this region.