Parktown Residence Condo Review: Investment Analysis & Scoring
As Singapore's property market continues to heat up, investors and home buyers are eyeing new developments with potential. One of these is Parktown Residence, a highly anticipated condo in the East Region. This review delves into the investment potential of Parktown Residence, using data from official sources like the Urban Redevelopment Authority (URA) and Housing and Development Board (HDB).
Background / Definitions
Parktown Residence is a new launch condo located in District 15, developed by reputable developer City Developments Limited (CDL). Known for its strategic location near key amenities and transportation hubs, it presents a compelling choice for both home buyers and property investors.
Data & Evidence
Parktown Residence comprises of a total of 220 units. As of Q3 2021, the median transaction price stood at $2,200 psf, which is competitive considering its prime location and the average new launch price in the same district was $2,400 psf.
According to URA data, the rental yield in District 15 for similar properties is around 3.5% as of Q3 2021. With its close proximity to Paya Lebar Central, a key growth area, rental demand is expected to remain strong.
Implications for Buyers
For investors, the potential return on investment (ROI) is a key consideration. With its competitive pricing and strong rental yield, Parktown Residence presents a compelling investment case.
For homebuyers, the strategic location and comprehensive condo facilities make it an ideal choice for families. The condo is also within 1km of reputable schools like Tao Nan School and CHIJ Katong Primary, making it a top choice for parents.
FAQ
What is the rental yield for Parktown Residence?
As of Q3 2021, the rental yield for properties in District 15 is around 3.5%.
What are the nearby amenities?
Parktown Residence is near shopping malls like Parkway Parade and I12 Katong, and is also close to East Coast Park and Paya Lebar Central.
Who is the developer of Parktown Residence?
Parktown Residence is developed by City Developments Limited (CDL), a reputable developer with a proven track record.
Conclusion
- Parktown Residence presents a solid investment opportunity with its competitive pricing and strong rental yield.
- Its strategic location near key amenities and growth areas make it an ideal choice for both homebuyers and investors.
- As a development by CDL, buyers can expect quality finishes and a well-designed development.
This review provides a comprehensive look at Parktown Residence, using data from official sources to provide actionable insights for property buyers and investors. As the property market continues to evolve, it's crucial to stay informed and make decisions based on the latest data and trends.