Normanton Park Condo New Launch by Kingsford Development 61008833

Normanton Park Singapore Investment

Assessing Potential Growth And Future Upside

Is Normanton Park A Good Buy ?

 

Developments with more than 1,000 units such as Normanton Park, are often referred to as Mega Projects. The number of units can affect certain factors in one way or another. These key factors include:

1. Maintenance fees
2. Rental income
3. Extent of facilities
4. Noise and crowding
5. Resale gains

 

1. Maintenance fees

Smaller developments tend to have higher maintenance fees due to two reasons: exclusivity and fewer ownerships.  Boutique developments usually feature exclusive features such as concierge services or private lifts. This results in higher maintenance costs. Lesser units also mean fewer owners sharing the overall cost of condo maintenance.

 

2. Rental income

Price war erupting within the same development would be one of the worst nightmares for landlords. If a cheaper unit is made available in the next block, a tenant would not hesitate to move. However, this does not always happen as landlords usually will not lower their price just because a neighbour is willing to settle for less. Given this mentality, rental income can, in fact, remain steady and solid even in larger developments. Having said that, a small development does not necessarily mean less competition either. In denser areas such as Novena or River Valley, you will find intense competition given the widespread of condominiums in the vicinity.

 

3. Extent of facilities

Smaller developments typically sit on smaller land plots with limits to how many facilities can be included. Conversely, mega-projects like Normanton Park can easily afford mega facilities such as multiple pools, pavilions, extensive gyms, and even shops and a restaurant.

 

4. Noise and crowding

Boutique developments are more suited for singles or couples who value privacy more because of lesser units. There is no denying that small and boutique developments are meant to be more exclusive but this can vary greatly depending on the layout. There are some small developments that do face with overcrowded gyms, BBQ pits and pools. Although in theory, more people equate to higher noise levels, it also boils down to the profiles of owners residing in these developments. Bigger developments would appeal more to families with young children due to the availability of more and varied facilities as well as expansive grounds. In Normanton Park, noise and crowding issues are readily addressed despite the huge number of residents. Apart from the 9 blocks and 110 facilities cleverly spread across the vast landscape, residents from the lowest floors are also well insulated from noise 19 meters above ground level.

 

5. Resale gains

In huge developments, in particular, there is always the likelihood that whenever you want to sell, another unit in the same development is making a similar attempt. These competitions amongst sellers can sometimes create a downward pressure on resale prices. However, if units were sold at higher premiums than the previous, such constant transactions can actually serve as new price trends to command incremental gains. Conversely, smaller developments usually have a lower volume of transactions, some hardly in years. This can make it difficult to set a clear value on the property as past transactions play an important role in bank valuation as well.

 

How should you decide which is better?

 

Genuine home-buyers tend to gain more from mega-projects in terms of extensive facilities and generally lower costs. The potential rental and resale considerations usually matter more to investors. House-hunters with bigger budgets usually look at different niche markets such as landed or boutique developments for exclusivity or prime locations.

 

Lastly, what is shared here are just general guidelines in nature based on general observations, trends and statistics of how condominiums are usually segregated in Singapore – there are always exceptions to the rule.

Assessing Potential Growth and Future Upside

So much has taken place in Buona Vista and one-North region in recent years, but this area is actually just getting “warmed-up” for the next bigger transformation. Aside from the Rochester Commons, a peek at the URA Master Plan reveals that a number of undeveloped land parcels have been zoned as ‘white sites’ in the area.

 

A white site is a land parcel where a mix of development types is allowed, such as a shopping mall with Grade A office space, such as Westgate and JEM at Jurong East, Duo Galleria/Duo Residences at Bugis and Connexion at Farrer Park. Usually, white sites are assigned to strategic locations. Due to the unique nature of hybrid developments that they bring along, there is always huge potential for greater capital appreciation for a condo located near a white site.

There are several land parcels in the One-North area that have yet to be developed, including areas in Rochester and Dover which are zoned as white sites for future expansion of the one-North business hub. Even the empty field right next to Buona MRT is earmarked for a future commercial development, which will further add to shopping and lifestyle amenities.

 

Such abundance of undeveloped greenfield land and the number of white sites and business park sites in the RCR is certainly unheard of. Normanton Park is truly in a unique location with very healthy and buoyant land value, coupled with promising prospect of steady long-term upside from future transformations.

 

According to Queenstown URA Masterplan, we can expect to see more housing expansion in the Buona Vista, Dover and Queenstown areas. This will attract tens of thousands of households into the area and further propel the growth of commercial amenities at Buona Vista.

 

More importantly, this huge number of residents represent a significant pool of future demand for condos when they want to upgrade. And many will be looking out for resale units at Normanton Park for their own stay or investment. All said and done, there are just too many catalysts for Normanton Park’s pricing to stay the same for long. Normanton Park units could move quickly, and only the most resourceful buyers may be able to secure their choice units.

 

Normanton Park offers much more than spectacular views, lush greenery and luxurious living. Normanton Park will be part of the Greater Southern Waterfront area to be developed by the government within the next decade, benefitting buyers significant potential upside in the years to come. The location therefore promises waterfront living, as well as valuable commercial developments. The upcoming Greater Southern Waterfront is just a short walk from Normanton Park. The waterfront area stretches from Gardens by the Bay East to Pasir Panjang, covering around 30km of the southern coastline with about 2,000ha of land for potential redevelopment. The land is almost 6 times that of Marina Bay, signifying huge, untapped growth. Development of the area is slated to take place in phases, starting with the former Pasir Panjang Power District, Keppel Club and Mount Faber in the next 5 to 10 years. The objective is to transform this waterfront promenade into the new live, work and play gateway of southern Singapore.

 

There are also plans to rejuvenate the Central Business District (CBD) and other strategic areas of Singapore under the government’s CBD Incentive Scheme and Strategic Development Incentive Scheme.  With close proximity to this exciting and lively city centre in the future, Normanton Park stakeholders will only stand to enjoy these advantages.

 

Last but not least, Normanton Park is just minutes’ drive from the upcoming Jurong Lake District. This 360-hectare site is slated to be developed into Singapore’s second CBD, featuring a vibrant mixed-use business region including an integrated tourism development.

 

Speak to our officially appointed sales agents if you would like to find out more about Normanton Park.

Potential Future Infrastructure

 

Looking at URA Master Plan 2019, it is interesting to note that it is highly possible and viable to have new infrastructure to link Greater One North to Greater Southern Waterfront. With Normanton Park sitting in between these 2 mega transformations, needless to say, the value will be very much enhanced by this new additional accessibility.

 

A future secondary entrance between Block 55 and Block 57 will be opened up once Science Park Drive is extended in the future. This will lead to Alexandra Road which will further boast the road accessibility to Normanton Park.

 

Untapped Commercial Land Parcels

 

With abundance of still untapped commercial land parcels at Greater one-north and beyond, the potential for future development is going to be tremendous. Be it new industrial, educational or leisure development, the effects on Normanton Park condo investment will be very positive and beneficial in terms of work, live, learn and play.

 

Most Important Of All... Normanton Park Is A Wonderful Place to Live In

So far, much reviews and analysis have been thoroughly considered on how Normanton Park could be a great investment asset. But what about Normanton Park as a home? After all, that has always been the original intent of residential properties, for people to live in.

 

Normanton Park has excellent city-fringe location made very accessible by AYE and Kent Ridge Station. It is hugged by Singapore’s very own “Silicon Valley” and Dover Knowledge District. In the not so far future, we can expect to see even more spectacular transformations from the Southern Waterfront. As this sea of changes takes shape over the next few years, the market value and rental yield of Normanton Park are expected to rise significantly along with the tides.

 

Looking within, it is obvious that a lot of in-depth thoughts have gone into the designing of Normanton Park. From Amazon-River theme landscape and facilities, noise-buffer zones, beautiful residences with stunning views, to bringing the lush green Kent Ridge Park to your doorstep.

 

As you can see, Kingsford Development has struck the perfect balance with Normanton Park. Not only does it have great investment potential, but it is also a very nice place to call home even if the investment yields did not meet your expectation. Home should be an anchor, a port in a storm, a happy place where we are loved and where we can love. It’s the love that makes a house a home. And HOME is where your stories begin.

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