Last weekend, I was introduced to one of the newest project launches in Singapore for 2021, One-North Eden, which was near my old work place near Buona Vista.
Nestled in the middle of One-North Business Park, I found out after my own research, that this development has the potential of excellent capital growth for a safe entry investment, due to the following three reasons:
Low Supply For Residences Serving An Area With High Demand
One-North Eden is the third residential development at One-North, surrounded by dense employment centers of Biopolis, Fusionopolis, and Science Park. The educatioal belt where the National University Of Singapore, Anglo-Chinese Independent School and Insead, among other schools, is located just west and south of One-North Eden. 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. So I’m expecting One-North Eden to be highly sought after by good tenants once it is ready of occupancy.
2020 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 in back in the National Day Rally 2019, the transformation south of One-North Eden 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 in the area.
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 center 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 hub.
With these 3 key factors supporting the capital appreciation and demand for One-North Eden, 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 2 plots of land next to One-North Eden 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 One-North Eden condo prices and rents in the middle to long term.
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