Clematis are one of Singapore’s most popular mature assets, and this is one of the reasons why Park Clematis has received good attention. This is one of several projects that will be launched after the Hungry Ghost Festival or commonly called the Seventh Month. In fact, The previews received a rather strong turnout.
Details about development
Park Clematis is a 99-year lease development located along Jalan Lampeng. The 99-year leasehold will begin on August 8, 2019. It will be developed on the site of the former Park West condominium, which Xinjiang acquired on January 25 through a combined sale of SGD $ 840.9 million. The site occupies an area of about 3, 644 square feet of land with a plot ratio of 2.5. The initial lease began on March 8, 1982, and the developer applied for it Singapore Land Authority (SLA) Upgrade lease. This is the third time owners of Park West condominiums have tried a block sale in 25 and 26 in. The Park West condominium is made up of 12 residential units and 5 shops and will travel to the Park Clematis, which will have nine twenty-four storeys. The tower block, six-storey level bungalows and twelve 2 storeys semi-detached units make up a total of 1468 units. The expected date for the vacant occupation of the Park Clematis is September 1st, 2023.
Where is the development located?
The park is located along Clematis Jalan Lampeng. It’s right next to Regent’s Park and just opposite Trillink. It is right next to the Faber Hills landing. If you are driving along Commonwealth Avenue and you pass along Clemente Mall on your left, Jalan Lempeg is the first route you cross after turning the turn on the AYE Expressway.
If you are traveling from Park Clematis to Clemetti MRT Station, you can use the overhead bridge just next to the Regent Park condominium that will pass through the AIE Expressway.
Currently there is an empty plot of land triangularly across the Park Clematis, and from the ERA Master Plan, it looks like a residential plot of land. Perhaps in the future, there will be some HDB development on this plot of land. If that is the case, then residents of Park Clematis may have some recourse to walk to the Clematy MRT Station At present, it is rather illegal to drive to the Clematy MRT Station.
Alternatively, residents of Park Clematis could board a bus from the bus stop right next to Regent Park. It takes 2 stops to get to Clemente MRT station and there are several bus services that run along this route.
The trip to the Raffles Place MRT station is straightforward as it is along the MRT line. It can take 18 minutes above 9 stations and it will cost 47 1.47.
When traveling to Orchard MRT Station you will need to make some changes to other MRT lines. You can change the north-south line at City Hall MRT Station or Raffles Place MRT Station instead of the one suggested below. It can take 16 minutes for 8 stations and costs 1.43.
The drive to Raffles Place will take about 15 minutes. The distance traveled is about 13.8 km and the best route will be via AYE Expressway. Keep in mind that I’m doing this query on Google Maps in the morning in Google Maps and therefore traffic conditions should be very favorable. Factor some extra travel time during normal pick-up.
The drive to Orchard Road will take about 15 minutes. The distance traveled is about 7.7km and the best route will be via the AYE Expressway, though I think many people can go for a distance of around 9.6km with Holland Road travel. This Google Maps query was again done during favorable traffic conditions. Pickup traffic will add extra travel time.
Selling point of development
The main point of my sale, would be the fact that this development is located near Clemente Central. It is not located at Clemente Mall or Clemente Interchange and Clementy MRT Station, but if you are looking for condominiums in Clementy, this development with Trillinck and Regent Park is probably the closest condominium station to Clemente MRT. There are many benefits to living in a highly mature estate such as Clementi. The demand for properties is substantial and the adult demand for the property is very strong as the younger buyers can claim the properties close to their parents who live on the mature property.
If you are looking for a condominium near Clementi MRT Station, this is the nearest development because only HDB flats are located right next to Clemente Mall and Clemente MRT Station. Further, there is a vacant plot of land located right next to Clemenzi Town Secondary School and I believe that in the future HDB should be allotted as flat.
Clementi is close to many schools and third institutions, such as Singapore Polytechnic and NGN Polytechnic. It is also close to the National University of Singapore, the Singapore Institute of Management and the Singapore University of Social Sciences. It should provide a pool of rental needs from employees and perhaps those who are studying in this institution.
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Potentially bad thing about development
It is not too close to Clemente MRT Station and Clementy Mall. Walking to the MRT station takes about 16 minutes and is relatively involuntary. If the tenants want to live in a condominium adjacent to the Clementi MRT station, this would be it, but if they find it difficult to walk distance, they may consider renting an HDB flat adjacent to the MRT station instead of the condominium unit.
There are two more condominiums in the region, 753 units in Trilinac and 2,276 units in Regent Park, and as a result, a total of 5 units have been created in the area, which will strengthen competition for resale and rent. Park Clematis will bring in 1,468 units in the region, a 142 percent increase.
My thoughts on development
Pricing Voice I think this is in line with expectations. If buyers want to look for rental income they should note that the existing rents for one-bedroom units in this area, especially Trillinck, are between $ 2,000 and $ 2,700 per month. It works with a gross yield of about 3 odd percent. If you consider spending and vacancy and the reason for the large growth of units in the region, the final net production can be in the region of about 2 odd percent.
I think that the benefits of living on a mature estate like Clementi are better than buying development like Park Clematis because it would be better to think that the spillover effect from the Jurong Lake District would spread to Clementi. Despite being one MRT station away, enough development has been made to accommodate the demand for Jurong which may increase in this area. Clementi itself is a big draw as a mature estate.
Pricing 3.5 / 5
This is a scorn. About 3 years old Trilinck had a single unit that made more than $ 6.66 per square foot. In fact, in May 2019, the 915-square-foot unit sold for SGD at $ 1,490,000. When you factor in the fact that park clematis prices revolve around this level, shoppers may choose a new option. I would expect one-bedroom units to be well received because of the low quantum. I think that larger units with larger quantum will receive less adoption than one-bedroom units. The index price for the one-bedroom unit SGD appears to be in the $ 700,000 range and over two million units in the two bedroom units. I think that this developer, like many others, had acquired the land at the top of the En Block Fever and still had to sell during a time where market sentiment was uniquely less enthusiastic. They are bound by the URA Rules for the minimum average size for units of their development and must be placed in larger units to meet these requirements. As a result, the absolute price will be higher for these national units and we will have to see if they can stomach these large units in the market.
This is another strange thing for me. On the one hand, if you are looking for a condominium near the Clementi MRT station, this is probably the closest. However, it is not close to the MRT station and the walk is rather campy. I’m giving it a rather high score that Clementi is a very mature asset and anyone who has lived in mature assets like Ang Mo Kio, Bedok or Clementi will tell you that the amenities and options for this national property are unmatched when compared to other places. Clementi is surrounded by many schools and higher education institutions.
Singhai Group is an experienced property developer with a decent track record. Together they are developing The Gazania and The Lilium, along with How Sun Drive and How Sun Road respectively, developing developing Their track record includes design and build HDB development Pasir Reis One and executive condominiums CityLife @ Tampines and The Wells. They are the developers of City Suites in Belstair at 9 Penang Road and formerly known as Park Mall. More significantly, The Wells and the Citywits were awarded CONCUS awards By Building and Construction Authority (BCA).