Singapore’s property market is always buzzing with new developments, and the latest addition to the scene is the exciting new launch condominium, Blossoms by the Park. Situated in the highly sought-after location between One-North and Buona Vista MRT stations, Blossoms by the Park offers a spot for residents to enjoy the best of both worlds. With easy access to two MRT stations, residents can conveniently travel to different parts of the island, making this development an ideal choice for both homebuyers and investors.
But it’s not just the convenient location that sets Blossoms by the Park apart from other properties in Singapore. This new launch condo offers an exclusive range of 275 units, and is one of the few highly anticipated launches of 2023. In this article, we’ll take an in-depth look at Blossoms by the Park and review what makes it a great choice for those looking to buy property in Singapore’s RCR. So, let’s dive in and explore this exciting new development in more detail.
A Closer Look at Blossoms by the Park’s Launch Details
Situated on Slim Barracks Rise, Blossoms by the Park is a recent addition to the highly coveted Buona Vista area of District 5 Queenstown in Singapore. With a bustling retail scene, a concentration of office buildings, and several top-notch educational institutions in the vicinity, the location promises to be highly sought-after among residents and investors alike. The high density of activities in the area makes Blossoms by the Park an attractive option for those seeking a vibrant and convenient lifestyle. It is no surprise that real estate in D5 Queenstown remains a popular choice among property buyers due to the area’s desirable amenities and excellent transport links.
Blossoms by the Park is set to introduce an estimated total of 275 units to the neighbourhood, increasing the immediate area’s supply by approximately 9.9%. As a 99-year leasehold condominium, it is expected to receive its TOP (Temporary Occupation Permit) towards the end of 2026, which puts it ahead of other new condo launches in 2023. The development’s strategic location in the Buona Vista area offers easy access to a range of amenities and employment opportunities. With One-North, a large cluster for work, in close proximity, residents will have convenient access to a variety of commercial hubs such as Fusionopolis, Metropolis, Biopolis, Kinesis, Block 71, and more. The proximity to these areas makes Blossoms by the Park a highly attractive option for professionals seeking a vibrant and convenient work-life balance.
Blossoms by the Park offers residents the perfect balance between city living and nature. One-North Park, located right beside the development, provides a serene green space where residents can relax and recharge amidst the hustle and bustle of city life. For those with an active lifestyle, Buona Vista MRT offers easy access to the Rail Corridor, a popular outdoor trail for walking, jogging, and cycling. The Ghim Moh exit from Buona Vista MRT provides a convenient access point to the Rail Corridor, which stretches across several neighbourhoods and parks, making it a great spot for outdoor enthusiasts to explore and stay active. The proximity to both One-North Park and the Rail Corridor makes Blossoms by the Park an attractive option for those who value green spaces and an active lifestyle.
Based on the condominiums and apartments in the area, we have the following distribution of units of the surrounding condominiums. Note that this is not indicative of the actual unit distribution of Blossoms by the Park, rather it is the state of supply for the various unit types.
The Buona Vista area is known for its medium-sized units, with 2-3 bedroom units making up more than 75% of the total units in the area. However, the developers of Blossoms by the Park are taking a strategic approach by allocating a greater proportion of units towards larger 4-bedroom units, which is close to three times the average number of such units in the area. This strategic allocation not only adds variety to the market but also increases the available livable space for families seeking a larger and more comfortable living environment. While there are fewer 1-bedroom units in the development, the increase in larger 4-bedroom units will undoubtedly be attractive to families looking to live in this vibrant and active neighbourhood.
While there are a few other condominiums in the immediate area around Blossoms by the Park, they are much older and were completed between 1997 and 2011. Blossoms by the Park will introduce life to this segment of the real estate market as a fresh addition when it completes in 2026/2027. We have 99-year leasehold projects nearby. One-north Residences (405 units, TOP 2009, 99-year leasehold from 2005), The Rochester Residences (366 units, TOP 2011, 99-year leasehold from 2005), Heritage View (618 units, TOP 2000, 99-year leasehold from 1996), Dover Parkview (686 units, TOP 1997, 99-year leasehold from 1993).
The launch of Blossoms by the Park is set to increase the number of transactions in the area, while also boosting the residential supply for this mature estate. With its strategic location and thoughtful unit allocation, we anticipate a high demand for this new development. The proximity to One-North Park, the Rail Corridor, and several commercial hubs makes it an ideal choice for professionals seeking a vibrant and convenient work-life balance, while the larger 4-bedroom units will undoubtedly be attractive to families seeking a spacious and comfortable living environment. We expect Blossoms by the Park to be a popular choice among homebuyers looking for a well-designed and thoughtfully located residential development.
Based on the current market conditions and expenses incurred by developers, the estimated price range for Blossoms by the Park is around $2,400 to $2,500 per square foot (psf). Please note that this estimate is not provided by the developers, we have arrived at this estimate based on current land prices, development and marketing costs. This estimate is reasonable, considering the development’s strategic location in close proximity to both Buona Vista and One-north MRT station and the large cluster of workplaces in the immediate area (which will be a boon to rentals). Do note that this is not the indicative price, it is only a price estimate.
The estimated price per square foot (psf) of Blossoms by the Park may vary depending on several factors, such as unit size, floor level, and orientation. The final pricing strategy adopted by the developer may also be influenced by market conditions and other external factors. Nevertheless, the estimated psf for Blossoms by the Park is competitive and represents a fair price point for a well-located, high-quality development in the Buona Vista – one-north area.
The development is expected to appeal to a diverse range of buyers, including professionals, expats, and HDB upgraders and first-time buyers living in the Queenstown estate. Investors may also be interested in the dual key units in this development for rental purposes. With its strategic location, thoughtful unit allocation, and attractive pricing, Blossoms by the Park is poised to set a new standard for quality living in this vibrant and dynamic neighbourhood.
Blossoms by the Park enjoys a strategic location on Slim Barracks Rise, with convenient access to two MRT stations. The Buona Vista MRT station is only 350 meters away, approximately a 5-minute walk, while the One-North MRT station is around 450 meters away, an easy 8-minute stroll. The Star Vista and Fusionopolis, located in the immediate vicinity, are convenient hubs for residents to meet their daily needs.
Blossoms by the Park is also surrounded by top-notch educational institutions. The development’s proximity to Fairfield Methodist Primary and Secondary Schools, Anglo-Chinese Junior College, and Anglo-Chinese (Independent) School make it an attractive choice for families with school-going children. Tertiary education options are also plentiful, with reputable institutions such as the National University of Singapore, Singapore Polytechnic, Singapore University of Social Sciences, INSEAD, and ESSEC located nearby. The strong educational ecosystem in the vicinity is a key factor in creating a robust moat for this development, making it an attractive long-term investment opportunity for discerning homebuyers.
Dive into the MOAT Analysis of Blossoms by the Park
To assess the investment potential of Blossoms by the Park, we turn to PLB’s proprietary MOAT Analysis tool. MOAT takes into account a comprehensive range of data points such as market trends, demographics, and property-specific information to provide a detailed evaluation of a property’s potential for rental income and appreciation.
What sets MOAT apart from other property analysis tools is its user-friendliness and intuitive design, making it accessible for both novice and experienced investors. By utilising MOAT’s advanced analytical capabilities, investors can better identify opportunities that align with their investment goals and strategies, allowing them to make informed decisions with confidence. We believe that MOAT’s unique capabilities make it an invaluable resource for real estate investors looking to build and manage successful portfolios. To learn more about PLB’s MOAT Analysis and how it can help you achieve your investment objectives with Blossoms by the Park, feel free to reach out to us here.
To gain a better understanding of the potential performance of Blossoms by the Park, we have selected four nearby condominiums that are comparable in terms of location, size, and recency. By comparing these condominiums to Blossoms by the Park on 10 different aspects, we can better assess the attractiveness of the location in terms of price and amenities. These comparisons will provide valuable insights into the potential demand and market value of Blossoms by the Park, allowing investors to make more informed decisions about this new development.
The four condominium properties we will use are One-north Residences (405 units, TOP 2009, 99-year leasehold from 2005), The Rochester Residences (366 units, TOP 2011, 99-year leasehold from 2005), Heritage View (618 units, TOP 2000, 99-year leasehold from 1996), Dover Parkview (686 units, TOP 1997, 99-year leasehold from 1993).
After conducting a comprehensive analysis of the four condominiums, our findings indicate that Blossoms by the Park is estimated to have an average score of 62.5%. This score is comparatively higher than some of the other new launches we have evaluated in 2023. Upon further examination, we found that the lower score is primarily attributed to a lower regional and district disparity score, as well as low scores in the Parents’ Attraction Effect and Exit Audience categories. The lower score for regional and district disparity is expected due to its close proximity to Buona Vista MRT and the cluster of workplaces in the district. The low score for Exit Audience indicates that there are few HDBs nearby, this can also be interpreted as a low supply of residential units in the immediate vicinity.
The actual score of Blossoms by the Park is expected to be much higher upon launch. In particular, we expect high scores for MRT Effect, Rental Demand, Quantum Effect, Volume Effect, and Bala’s Curve Effect. This new development has a strong Unique Selling Point (USP) due to its convenient location near the MRT, coupled with a large cluster of workplaces nearby, and the fact that the residential supply in the area is relatively limited compared to other estates. This area might also attract investors due to the high rental demand of this area.
While the Parents’ Attraction Effect stands at an average score of 2, there are a few reputable options for parents of school going children. This location is much nearer to tertiary education institutions than a wide range of primary schools. As such, more mature family units might be attracted to this particular development. Alternatively, professionals who work in the cluster nearby would be enticed by the offerings of Blossoms by the Park.
According to our MOAT Analysis, Blossoms by the Park is expected to have a slightly higher price point than the average in the region due to cost-push inflation in construction and land costs of new developments. However, the unbeatable location just a stone’s throw away from the MRT station more than justifies the added cost. The unit distribution is also optimised for convenience and comfort, with smaller to mid-sized units that are ideal for young couples and small families, and larger sized units for mature family units that would need the extra living space. The larger units available here would also give more viable options to multi-generational families who wish to live in this area.
The Verdict on the New Launch of Blossoms by the Park
In this section, we will present our final verdict on Blossoms by the Park through a comprehensive summary table based on the analysis conducted throughout the article. The USP of this development lies in its conveniently located site, catering to the market of working professionals, and its status as a newly launched condominium in a mature estate.
Stay in the Loop for Blossoms by the Park’s Preview
In conclusion, Blossoms by the Park is an exciting new development in the heart of Buona Vista – one-north, offering a unique blend of convenience and value for potential buyers and investors. With its strategic location just minutes away from two MRT stations and a plethora of key amenities such as The Star Vista and Fusionopolis, it is poised to become a highly sought-after residential estate in the area.
Our analysis using PLB’s MOAT tool indicates that this development has strong investment potential, with an estimated average score of 62.5%. This score is higher than some of the other new launches we have reviewed in 2023, indicating that Blossoms by the Park offers an attractive profile of features and factors that make up a desirable property.
While the unit pricing may be slightly higher than the regional average (sitting around an estimated $2,400 to $2,500 psf), the allocation of units towards larger 4-bedroom units is a unique selling point that offers potential buyers more space and flexibility. Additionally, the promising future plans for the Queenstown estate make this location an attractive choice for both capital appreciation and rental income potential. As such, we believe that Blossoms by the Park represents an excellent investment opportunity for those looking for long-term gains as one-north shapes up to be the “Silicon Valley” of Singapore.
If you’re in the market for a new home or a promising investment opportunity, we invite you to discover the endless possibilities offered by Blossoms by the Park. Our skilled team is readily available to furnish you with additional information, answer any queries, and assist you in finding the perfect dwelling that caters to your preferences. We understand that investing in a property or purchasing a home is a significant decision, and our aim is to make the process painless but as precise as possible. Blossoms by the Park is an exceptional choice for professionals working in the area, as well as families who love convenience and active living. Don’t miss out on the opportunity to become a member of the Blossoms by the Park community. Contact us today to learn more and secure your spot!
The tentative preview date is Early-Mid March
The expected launch date is Late March / Early April
Accurate as of 23 February 2023 and is subject to change without prior notice.
Stay tuned for a follow-up article with more detailed information on the launch.