News about how AMO Residence was nearly sold out on its launch day has drawn lots of attention to a new condominium in the same district, Hillock Green. I was surprised by the 98% sold rate at AMO Residence, and did some research on Hillock Green, only to find that this new condo at Lentor has the potential of similar return, due to the following 3 reasons:
Low risk: First mover advantage
In the near term, there are 9 other plots of private residential land in Lentor area that are earmarked for future development, and the government has opened the tender for more housing at Springleaf nearby. With a shortage of homes in this region, home owners of Hillock Green can benchmark their exit price on progressively higher rates when these new sites start selling their housing units one after the other. The higher rates of these new condos will also form the new benchmark prices for first owners at Hillock Green. This reduces possibility of loss for purchasers who bought a unit at the early launch.
URA Masterplan Around Hillock Green. Source: URA.gov.sg
High reward: Rapid development of region with shopping mall, MRT station, and other amenities.
Lentor Hills is developing township in the Northern part of Singapore. With the new shopping mall just across the street, families staying in Hillock Green can easily get their daily necessities and other routine done. Purchasers who value a supermarket, restaurants and a childcare centre will appreciate a home in this condominium. The MRT station that serves the Thomson-East Coast Line is also accessible within a 3 minute walk.
Completion Of The Thomson-East Coast Line
With key MRT stations along the Thomson-East Coast Line already functional, the faster commute from Lentor Hills to Shenton Way and Orchard area will become the main reason white collar professionals want to reside in this condo. They can travel from their place of work to their abode within 30 minutes. They can also easily take a weekend vacation to Johor Bahru by riding the MRT train to Woodlands and cross the border. With the other MRT stations along the line expected to complete by 2024, residents of Hillock Green can take a ride to Marine Parage and Changi Airport easily.
With these three key factors determining the demand and price support for Hillock Green, I recommend this residence for investors seeking steady capital appreciation stemming from the progessive development of the whole region. The fact that Lentor Hills is fast becoming the next modern new town affirms my expectations that the incoming population into the area will support Hillock Green condo rates and rents in the middle to long term.
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