1. Supply versus Demand
One-north is divided into eight distinct areas where many come together to work, live, play & learn. With several big names such as Lucas Films, Johnson & Johnson, Dyson, and many more all setting up regional offices in the area, one-north plays host to a working population of more than 50,000.
Despite the large workforce present in the area, one-north has a fairly limited supply of homes in its vicinity. Seven developments including Blossoms by the Park garner only 4,377 residential units. It clearly shows that there will be demand for homes in the area both in terms of rental and ownership.
As we all know in Singapore, properties near MRT stations tend to fare better than the ones further away. And Blossoms by the Park happens to be strategically located between two MRT stations, one-north and Buona vista MRT station – an 8-minute and 5-minute walk away respectively.
Another important factor in determining a good project is its proximity to reputable schools. With reputable schools nearby, it increases the demand for your home as families with children would love to live near these institutions. Blossoms by the Park is within 1km of Fairfield Methodist School – a highly-coveted primary school.
Looking at the rentability, we can see that even One-North Residences, a project that TOP in 2009 is able to get good monthly rent with their 1-bedroom unit renting out as high as $3,850. So little further down the street, a much newer project (Stirling Residences) that TOP last year, can fetch rent as high as $4,200 for a 1-bedroom unit. It is evident that newer developments are able to fetch higher rentals. How do you think rental at Blossoms by the Park would fare?