While many homebuyers and investors tend to keep an eye on brand new launches, you might not want to dismiss existing post-launches that were launched one to two years ago. Some of these post-launches can turn out to be hidden gems that might have escaped your notice. Parc Clematis and Normanton Park are two projects that are hidden gems you may want to find out more about.
With the private housing site in Ang Mo Kio Avenue 1 sold at around $1118 psf ppr, the new Outside Central Region (OCR) project is estimated to launch at an all-time high of $1900 to $2000 psf. Another recent EC land sales along Tengah Garden Walk, also received a record-breaking bid of $603.17 psf ppr, is expected to launch at around $1200 psf. In view of an expected 10% to 15% increase in labour and material costs, as compared to that in the last couple of years, existing post-launches are likely to offer a better entry prices than upcoming new launches. With recent land prices hitting new highs, the two 99-year leasehold condominiums, Parc Clematis and Normantion Park, bought earlier at lower land prices offer great entry prices to homebuyers.
With no upcoming new launches in the west, homebuyers will likely take another look at Parc Clematis and Normanton Park. In addition, the further depletion of residential supply against the growing demand from upgraders, would likely drive prices higher. Savvy property investors may be inclined to quickly secure an unit in the face of dwindling supply.
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