Low Supply For Residences Serving An Area With High Demand
Blossoms By The Park is the fourth residential development at One-North, surrounded by dense employment centers of Biopolis, Fusionopolis, and Science Park. The educational belt where the National University Of Singapore, Anglo-Chinese Independent School and INSEAD, among other schools, is located just South-West of Blossoms By The Park condo. Historically the shortage of good residential units in the area has resulted in white collar professionals working in One-North to rent apartments in the nearby neighbourhoods of Clementi and Commonwealth, inflating property prices in those areas. So I’m expecting Blossoms By The Park to be highly sought after by good tenants once it is ready of occupancy.
2023 Residences in the One-North Area. Source: Streetdirectory.com
Relocation Of The Pasir Panjang Distripark To Make Way For The Greater Southern Waterfront
As announced by the Prime Minister back in the National Day Rally of 2019, the transformation south of Blossoms By The Park will mean more housing and commercial activities connected to the One-North area, accessible just via North / South Buona Vista road. With the value of land in the Greater Southern Waterfront going up, there will be a spill over in land and property prices to the vicinity.
Completion Of The Circle Line
With the Circle Line expected to be fully completed by 2025, linking Marina Bay Financial Centre to One-North, the ease of reaching the city centre becomes a plus point for working professionals who want quick access to their work place in the Central Business District, yet far enough to enjoy tranquility in their residence. Together with the upcoming second central business district at Jurong East, the area around One-North becomes a prime living enclave with short travelling times to either financial hubs.
With these 3 key factors supporting the capital appreciation and demand for Blossoms By The Park, I will recommend this development for investors looking for a steady rental income from tenants working in the area, or students from the local and overseas institutions nearby. The fact that the government has released another plot of land concurrently for tender in June 2021 to cater to the shortage of housing options in the area confirms my expectations that the large tenant pool will support Blossoms By The Park condo prices and rents in the middle to long term.
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