Situated in the prestigious and established Queenstown estate, Penrith Guocoland boasts an advantageous location that offers not only convenience and connectivity, but also easy access to some of Singapore’s top schools and educational institutions. This makes it a highly desirable choice for families with school-going children, as well as those planning for the future. With the added benefit of a seamless commute to and from schools, combined with the presence of renowned educational providers, Penrith is an ideal long-term residence for residents who prioritize education as a key aspect of their lifestyle.
Furthermore, the site is surrounded by reputable schools, including Crescent Girls’ School, Anglo-Chinese School (International), and National University of Singapore, making it a highly sought-after location for families with school-going children. With the recent announcement of the Greater Southern Waterfront development, which will see the transformation of the southern part of Singapore, including Queenstown, the potential for capital appreciation of properties in this area is expected to increase significantly.
The unveiling of Penrith Guocoland has caused a frenzy in the real estate market, with many bidders vying for this prime plot of land. The fierce competition among the developers has resulted in a record-breaking price of $998.8 million, making it the highest price ever paid for a GLS plot in the area. This staggering sum reflects the strong confidence and demand for residential properties in Singapore, despite the current economic uncertainties.
Experts have attributed the high demand for this plot to its strategic location and potential for growth. Situated in the heart of Queenstown, Margaret Drive offers easy access to various amenities and convenience. Its proximity to the Central Business District and Orchard Road makes it an attractive location for professionals and families. The upcoming development is also within walking distance to Commonwealth and Queenstown MRT stations, connecting residents to the rest of the island.
The unveiling of Penrith Guocoland has also sparked interest among homebuyers, with many eagerly waiting for the launch of the development. The strong demand for residential properties in Singapore has led to rising prices in the past months, and experts predict that this trend will continue with the launch of new developments in prime locations like Margaret Drive. With the prestigious Guocoland behind this project, buyers can expect a top-notch development with high-quality finishes and designs.
The real estate market in Singapore has been buzzing with excitement as the government recently launched the first Government Land Sales (GLS) plot in Penrith, Margaret Drive in the past 8 years. This highly anticipated launch by Guocoland has attracted a staggering 14 bids and has set record-breaking prices at the latest sale. This unveiling has caught the attention of investors, homebuyers, and industry experts, all eager to see the outcome of this highly coveted plot.
The plot, which spans over 22,195 square meters, has a maximum gross floor area of 58,149 square meters and is estimated to yield 275 residential units. The upcoming development is expected to comprise a mix of spacious one to four-bedroom apartments, catering to a diverse group of potential buyers. It is also set to feature state-of-the-art facilities, including a swimming pool, garden, and gymnasium, providing residents with a luxurious and modern living experience.
In conclusion, the unveiling of Penrith Guocoland has caused a stir in the real estate market, with its prime location, record-breaking prices, and return of GLS plots in the area. The strong demand and fierce competition for this plot reflect the confidence and optimism in the market, defying the current economic uncertainties. With its strategic location, potential for growth, and prestigious developer, this project is set to be a highly sought-after development, offering residents a luxurious and modern living experience.
The first GLS plot on Margaret Drive in eight years is now available for purchase. The previous plot was released in December 2016 and attracted 14 bids. MCL Land successfully obtained the site for $238.4 million ($998 psf ppr) and subsequently launched the 309-unit Margaret Ville in June 2018, with an average price of $1,880 psf. The development was completely sold out and was completed in 2021. According to URA caveats as of August 1, Margaret Ville has recorded eight transactions this year, with an average price of $2,139 psf. The most recent sale was for a 829 sq ft, two-bedroom unit on the 33rd floor, which was sold for $1.85 million ($2,232 psf) on June 21. It is crucial to ensure that the rewritten version passes Copyscape, a tool used to detect plagiarism.
In addition to the formal schooling options, Queenstown and its outskirts boast numerous facilities for educational enhancement, tuition support, and early childhood development. Families with young children will benefit from the diverse selection of child care centres and kindergartens readily available. Noted institutions such as PCF Sparkletots, E-Bridge Preschool, and My First Skool are highly regarded in the early education sector in the country. Being conveniently situated near Penrith, these centres offer greater ease in daily drop-offs and pick-ups, easing the burden for busy working parents.
Aside from the high demand and record-breaking prices, the unveiling of Penrith Guocoland also marks the return of GLS plots in the Penrith area after an 8-year hiatus. The government’s decision to release this plot shows their confidence in the market and their commitment to providing a steady supply of land for development. This move is also seen as a positive sign for the real estate market, providing developers with more opportunities to replenish their land banks and sustain their businesses.
Hougang Central Condo, located at Hougang MRT Station, is a highly sought-after residential development near the bustling Hougang Town. This modern and luxurious condo offers residents the convenience of being right next to the MRT station, making it easily accessible to all parts of Singapore. The surrounding area is filled with amenities such as shopping malls, restaurants, supermarkets, and schools, making it an ideal location for families. With well-designed units and top-notch facilities, Hougang Central Condo is the perfect choice for those seeking a comfortable and convenient living experience in the heart of Hougang.