It’s not everywhere that you find a Star Wars-inspired complex, self-driving road sweepers, and a myriad of industry-leading companies sharing the same neighborhood, but that’s exactly what you’ll encounter when you step foot into one north.
Unlike other parts of Singapore, most of one-north as well as its infrastructure is focused on promoting industrial growth.
This unique identity is probably best spoken for by Fusionopolis, Biopolis, and Mediapolis: three state-of-the-art buildings that foster growth across a variety of developmental fields, from info-communications to biotechnology.
Then, what about homes? Even though one-north is within Queenstown estate, a.k.a. Singapore’s first satellite town, it has few HDB flats of its own. But there are private residences, such as One-North Residences and One-North Eden – as well as Blossoms by the Park, a new launch condo that’ll be joining them in the future.
Quick facts about Blossoms by the Park
Sold during the first-half 2021 government land sales (GLS) programme to EL Development, the 99-year leasehold site of Blossoms by the Park measures 7,957.3 square meters, making it a sizeable plot with a gross floor area (GFA) of roughly 23,872 square meters.
Put another way, there’s enough room on-site for 275 homes, plus commercial units. For future occupiers, this means that they’ll be able to enjoy the comfort of living in a stylish home, along with the convenience of having various amenities (like shopping and dining options) right at their doorstep.
Additionally, Blossoms by the Park will have a plethora of recreational facilities that’ll doubtlessly enhance the living experience of residents. This includes but isn’t limited to, a 50m lap pool, a wellness pool, a gym, function and entertainment rooms, as well as a community garden.
Outside, but still within the vicinity of Blossoms by the Park is a good mix of public transport, retail, and schooling options that future homeowners can take advantage of.
Nearby public transport options:
- One-North MRT station
- Buona Vista MRT station
Nearby retail options:
- Star Vista
- Rochester Mall
- Fairfield Methodist School (Primary and Secondary)
- New Town Secondary School
- ISS International School
- Anglo-Chinese School (Independent)
- Anglo-Chinese School (International)
- Singapore Polytechnic
- Ngee Ann Polytechnic
- National University of Singapore
3 reasons why homes at Blossoms by the Park could have future upside
1. The supply of new launches in one-north and District 15 is limited
Prior to Blossoms by the Park, One-North Eden was the first launch to happen in 16 years – which should say enough about the availability for new private homes in One-North. It may also be worth noting that there was great fanfare for One-North Eden’s launch, with 85% of its units (140 out of 165) sold on its opening weekend alone.
A similar level of enthusiasm is likely to be expected for Blossom by the Park’s debut too due to the fairly-limited supply of upcoming new private homes in District 5.
Including Blossoms by the Park (275 units), there is an estimated combined total of 751 and more new private homes within the sector – which is to say, not a huge number.
|Property||Tenure||No. of residential units||Launch date||Sold out date|
|Clavon||99 years||640||Dec 2021||Jun 2022|
|One-North Eden||99 years||165||April 2021||Mar 2022|
|Normanton Park||99 years||1,862||Jan 2021||Jul 2022|
|Kent Ridge Hill Residences||99 years||548||Nov 2018||Jul 2022|
|Whistler Grand||99 years||716||Nov 2018||Oct 2021|
|Twin View||99 years||520||May 2018||Apr 2021|
Couple this with the knowledge that most District 5 condo developments in the past 4 to 5 years are fully sold out, one can reasonably expect the market to respond positively to Blossom by the Park during its debut and beyond – especially after accounting for its relative convenience (e.g. proximity to not one, but two MRT stations) as well as the official rejuvenation plans for Queenstown.
2. The growth of District 5 homes exceeds that of the RCR on a whole
Yet another sign that bodes well for homes at Blossoms by the Park (and by association, their future owners) is proof that District 5 homes tend to perform better in price growth.
Compared to the average per square foot (PSF) prices for the Rest of the Central Region (RCR), the equivalent figures for District 5 – which is where one-north and Blossoms by the Park are located – have consistently shown better growth over the 15 years across three 5-year cycles.
Based on figures captured from the ERA SALES+ app:
2005 – 2020 (15 years)
|Region||Average PSF (Jan 2005)||Average PSF (Dec 2020)||Percentage Change|
2010 – 2020 (10 years)
|Region||Average PSF (Jan 2010)||Average PSF (Dec 2020)||Percentage Change|
2015 – 2020 (5 years)
|Region||Average PSF (Jan 2015)||Average PSF (Dec 2020)||Percentage Change|
Naturally, only the future can tell if Blossoms by the Park and by association, non-landed properties in District 5 will continue to be standout buys. But if the past is any indication, there’s a reasonable hope.
3. There’s strong rental demand for homes near Buona Vista MRT
Just like in other parts of Singapore, the ‘MRT Effect’ is at work for existing private homes that are located in one-north and its vicinity.
In essence, and also in the context of one-north, what this means is that the nearer a residential development to an MRT station (in this case, Buona Vista MRT), the more likely it’ll enjoy higher property values as well as rental prospects.
Taking a look at available SALES+ data for four condos – two that are within 500m of Buona Vista MRT (One-North Residences and The Rochester Residences), and two that fall within the 501m – 1km radius (Dover Parkview and Heritage View), it can be observed that the former pair performed better in terms of rental volumes.
Rental volumes of condos near Buona Vista MRT from Apr 2020 to Apr 2023
|Property||No. of residential units||Total volume of rental contracts|
|The Rochester Residences||366||521|
(Source: ERA SALES+ app, data captured on 4 Apr 2023.)
To sum up
Based on available data as well as current signs, Blossoms by the Park is poised to be a standout new launch in one-north that suits owner-occupiers as well as investors. Convenience aside, there’s plenty going for it – not least its growth potential and rental prospects.
Interested in knowing more? Speak to an ERA Trusted Advisor today to find out about homes in Blossoms by the Park!
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