Investing in Tampines North: A Closer Look at Parktown Residences
Today, let’s discuss investing in integrated developments with a focus on Parktown Residences located in the heart of the exciting new Tampines North township. This case study will look at the benefits of integrated development and the advantages Parktown Residences offers as a savvy investment.
Integrated Developments: A Winning Investment Strategy
Integrated developments combine residential, commercial, and often transportation components into a single, seamlessly connected entity. This multi-faceted approach offers unparalleled convenience for residents, giving easy access to shopping, dining, entertainment, and transport options, all within walking distance from home. Beyond convenience, integrated developments often command premium prices, especially when strategically positioned near MRT stations. This presents a unique opportunity for investors, as integrated developments tend to perform well in the property market.
Parktown Residences: Location, Location, Location
Parktown Residences is a new launch integrated development located at Tampines Avenue 11. With 1,100 units ranging from 1 to 5 bedrooms, there's a suitable option for every family size and investor profile. Its integrated nature truly sets it apart. The commercial aspect will feature a shopping center, directly linked to the residential component and the upcoming Tampines North MRT station.
MRT
Tampines North MRT is scheduled to be completed by 2030, it's just a stone’s throw from Parktown Residences, promising excellent connectivity to other parts of Singapore.
Driving
- Conveniently accessible via the TPE and PIE
The Tampines North Township: A Rising Star
Tampines North is an emerging township offering immense potential for growth and price appreciation. Past successes like Treasure at Tampines and The Alps Residences show the market’s appetite for quality developments in this area. As more residential areas are developed, the increased vibrancy and convenience of Tampines North township will further enhance the appeal of Parktown Residences.
Competition: Why Choose Parktown Residences?
It is worth noting that Parktown Residences does face competition from other developments in Tampines, such as the nearby project, Norwood Grand. However, Norwood Grand is a pure residential development without the convenience and direct access to the Tampines North MRT station that Parktown Residences offers.
Integrated Dev vs Nearby Residential Project
While it’s true that historically, there has been a premium on integrated developments over regular residential ones, with increasing construction costs, future residential development prices are not expected to fall far behind Parktown Residences.
However, in the mid to long-term, Parktown Residences is expected to do very well, with its integrated development aspect, good location, and schools.
Pricing and Safety of Investment
While prices haven't yet been released, based on the breakeven price of $1,661 PSF, it is estimated that the launch price will start from approximately $2,250 PSF. While properties in Tampines have not yet hit the $2,000 PSF range, the HDB upgraders have the ability to afford this and some investors are looking for two bedroom apartments. With the right management, this investment should not pose any issues in the long term.
With a total number of units estimated to be 500 to 700, and 72% belonging to Capitalland, investors will benefit from Capitalland's expertise, a company known for its strong commercial capabilities.
Final Thoughts
The integration of Parktown Residences within the burgeoning Tampines North township offers an exceptionally attractive opportunity for those seeking convenience, accessibility, and strong investment prospects. Combined with the established reputation of CapitaLand, Parktown Residences is well-poised to emerge as a key development in this thriving locale.
To gain a more in-depth understanding of the investment potential of Parktown Residences and whether it aligns with your needs, I encourage you to book a consultation with me. Let’s explore the possibilities together!