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The nucleus of investment
Choosing the home of one's dreams is never easy. Not only is it a substantial investment, but there are also many options to choose from.
Why not then consider a rare product - a home within an integrated development?
The attractiveness of such a home is multi-faceted. For one, picture all the convenience right at your doorstep. Running errands, dining out and even watching movies are an absolute breeze. And with offices in the same development, the live-work-play lifestyle is firmly within reach.
Another major selling point is that it makes an excellent addition to your investment portfolio. In terms of property investment, an integrated development offers the best value, according to Ms Alice Tan, head of research and consultancy at Knight Frank.
"Greater variety of amenities within a closely-knit community, easy access and walkability to shops, workspaces and entertainment venues along with direct connectivity to the MRT transport network are desirable attributes, highly sought after by owner occupiers and tenants," she says.
In the limelight: Paya Lebar Quarter
Park Place Residences is the residential component of the integrated development Paya Lebar Quarter by Australian developer Lend lease. A leading international company with operations in Australia, Asia, Europe and the Americas, Lendlease is no stranger to projects of such scale. Committed to creating quality places and homes for generations to enjoy, it is pioneering the world's most exciting urban regeneration projects, and currently has 80,000 homes under development and / or construction.
Paya Lebar Quarter is set in a prime location as it fronts Paya Lebar MRT interchange, providing access to both East-West and Circle MRT lines. The 4 hectares development will have a retail mall with 200 shops and a 12-screen cinema, three Grade-A office towers with a total of 1 million sq ft of gross floor area, and three residential towers with 429 units.
When fully completed by 2019, it will revitalise Paya Lebar with a burst of vibrancy.
Private homes within integrated developments with close or direct proximity to MRT stations typically command a premium of 25 to 30 per cent over their comparables in non-integrated developments that are further away from MRT stations, a study by Knight Frank Research found.
"It is evident that home buyers recognise the additional benefits and potential upside of homes within integrated developments and with close proximity to key transport nodes, and are prepared to invest in such homes," says Knight Frank's Ms Tan.
Is it value for money?
One key takeaway is that Park Place Residences at PLQ is situated within a high potential growth area.
This integrated development falls within the Singapore government's wider plans to grow the district into a commercial hub, hence appealing to buyers with an eye for capital appreciation.
The homes are also likely to attract tenants who will work in the offices nearby, or even from the Central Business District or Changi since both are 6 MRT stops away. Given its city fringe location, Park Place Residences clearly offers superior value.
At the end of the day, your ideal property would feature a balance of right attributes.
Nature lovers can look forward to 100,000 sq ft of green public spaces, as part of Paya Lebar Quarter's commitment to sustainability. Families can also look forward to Sunday bonding activities at East Coast Park, located in close proximity, as well as trips to the city centre.
Be it lifestyle, recreation or growth potential, Paya Lebar Quarter delivers on all fronts.