One Realty Park Land Site

Fantasia Investment by Yang Xinping and Sun Renwang set to launch One Realty Park Villas after winning TOP bid for this 99 years landed housing site at $75.8 million or $525.45 psf ppr. This bid is 22% higher than the 2nd bid submitted by Singhaiyi Investments.

Well, if you are looking at a landed property with 5 bedrooms, there are probably many you can look at with a $3 million price tag, ranging from Sembawang, Yio Chu Kang, Ang Mo Kio, Kovan or even some at East Coast. You can also choose from resale versus new landed. But will this be worth payment for One Realty Park?

 

Why Consider One Realty Park Villas?

Rare Landed Site for Sale by URA

Singapore Map of Past Landed Sale Sites

If you realise, there’s isn’t much landed property for sale by developers on the market. This is because since 2010, there’s only 3 landed sites being sold on the market namely Haus @ Serangoon Garden in 2011, Michaels Residences at Chestnut Avenue in 2011 and Victoria Park Villas at Victoria Park Road in 2013. All these landed property has since been fully sold by developer.

Lorong 1 Realty Park being awarded in 2017 make this the fourth site since 2010 land sales zone for Landed Property after Fantasia Investment came in top bid in this highly contested site with a total of 11 bidder for the land tender.

 

Lower Upfront Cost

If you ever buy a old landed property and rebuild from there, you will realise there will be a hefty upfront cost. Other than the normal downpayment and stamp duty, there’s also a rebuild cost that can easily cost additional 500 thousands depends on the extend of your renovation. For a $3 million property, the upfront cost is about 700k based on normal stamp duty. If factor in the 500k renovation cost, it easily cost more than a million. Renovation cost normally have to make full payment. If on renovation loan, it will affect the total debt servicing ratio (TDSR).

Thus purchasing a unit at One Realty Park can serve purchaser much saving in terms of renovation cost as purchasers will get the whole unit brand new with minimal renovation cost involved (depend on home owners). On top of that, it also come with a defect liability of one year.

 

Multi-Generation Friendly

With its configuration of 5 bedrooms that span 3 storey, 1 Realty Park provide a home sweet home even for multi generation families staying under one roof. The private lift within the units connect every floor, facilitate even the elderly or handicap. Each floor and room is well separated for additional privacy.

Spacious kitchen and living room facilitate family gathering, be it watch TV or dinner together as a family.

 

Conclussion

In conclusion, we recommended One Realty Park Landed Development as its really rare of the market for new landed site by developers. Singapore is limited in land, thus landed property appreciate as times goes by. Furthermore, as buyers get the unit brand new and with defect liability, they can thus have more cost saving.