Blossoms By The Park Condo Review: Location, Price, Investment Analysis

Blossoms By The Park's Unique Selling Points

Below are some of the key attributes of Blossoms By The Park condo and the investment potential it offers:

• One-North, which has been dubbed the Silicon Valley of Singapore, is a magnet for knowledge-intensive industries and high-net worth personnel
• Singapore is ranked as the top alternative high-tech hub to Silicon Valley
• Inflow of many China high-tech firms into Singapore due to its neutral geo-political position amid the ongoing tensions with the United States, boosting employment opportunities in the area
• Home to 50,000 knowledge workers, researchers, entrepreneurs and students
• Singapore to invest $25 billion - or 1% of its gross domestic product (GDP) - under its Research, Innovation and Enterprise 2025 Plan (RIE2025)
• Limited residential housing options within One-North provide good investment potential
• High rental demand and yield
• Close proximity to the major transformation of The Greater Southern Waterfront and West Region (Jurong Lake District, Jurong Innovation District and Tuas Mega Port)
• Excellent transport connectivity
• Convenient easy access to a wide range of amenities
• Rail Corridor to bring exciting nature and leisure recreation to the area
• Close proximity to the "Clementi education hub"
• Good selection of international schools to attract expatriate housing demand

Blossoms By The Park Fact Sheet

Blossoms By The Park Unit Mix

There is a total of 275 units on offer, with the 2- and 3-bedroom types making up the majority with 100 units each. This is followed by 50 units of 4-bedders and 25 units of 1-bedders. This will cater to a wide spectrum of buyers, either for own stay or investment.

Typical units start from Level 3 to Level 26, with Penthouses on Level 27. Ceiling height is 2.8m and 4.65m respectively, typical of most new property launches.

Commercial units will occupy three levels - B1, L1 & L2.

Applicances, Fittings And Fixtures

All units at Blossoms By the Park will be fitted with Kuche kitchen appliances, Gerberit sanitary wares, and Grohe sanitary fittings, all very well-known brands. A smart home system will also be provided.

For flooring, tiles will be used for the entire unit, except for the bedrooms and study, which will be laid with vinyl flooring. Although easy to maintain and durable, laminate flooring would have been a better alternative, although it will cost a little more.

Condominium Facilities

Blossoms By The Park offers a good range of facilities for residents to take a break from the hustle and bustle of modern living. With residents of all ages in mind, they include the following:

Who is the Developer of Blossoms By The Park?

The developer for Blossoms By The Park is EL Development Pte Ltd.

It is a real estate development and investment company based in Singapore which first started out as a small business unit within one of Singapore's leading builders, Evan Lim & Co. Pte Ltd. But since 2007, it has been incorporated as a separate company.

The company has since undertaken various property development and redevelopment projects, acquiring land from private en bloc and government land sales (GLS). Some of its notable projects include Pullman Residences, Parc Reviera, Steven Suites, and Illuminaire On Devonshire.

What are the Selling Prices for Blossoms By The Park?

Below are the indicative launch prices for Blossoms By The Park:

During the sales launch of Blossoms By The Park on 29 April 2023, more than 200 out of 275 units (75%) were sold at an average price of $2,423 psf. This is the first development to be launched after the Singapore government hiked additional buyer's stamp duty (ABSD) rates. Effective from 27 April 2023, foreigners buying residential properties in Singapore see the heftiest increase from 30% to 60%.

The developer, EL Development, said all 1- and 2-bedroom units, except for the 2-bedroom penthouses, were fully sold. It added that 96% of the buyers were Singaporean and Singapore permanent residents (PRs), with foreign buyers making up only 4%.

EL Development clinched the Blossoms By The Park site (Parcel A) with a top bid of $320.1 million, beating 9 other developers in a keenly contested government land tender. This attests to the site's strong locational attributes, as witnessed by the strong demand for One-North Eden during its launch in April 2021.

With a land size of 7,957 sq m (85,648.4 sq ft) and a plot ratio of 3.0, this translates to a land rate of about $1,245.70 psf ppr.

With prices starting from $2,183 psf, this is very enticing considering that recent property launches at the Rest of Central Region (RCR) like Terra Hill at Pasir Panjang (District 5) and Tembusu Grand at Jalan Tembusu (District 15) have transacted at average prices of $2,650 psf and $2,465 psf respectively.

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Where is Blossoms By The Park Condo Located At?

Blossoms By The Park is situated beside North Buona Vista Road and next to NTU@One-North. This is a prime location at the heart of Singapore’s vibrant high-tech, R&D and innovation hub where many global high-tech behemoths have set up their operations and regional headquarters.

As it s within a short walk of the Buona Vista and One-North MRT stations, residents will enjoy excellent transport convenience.

Although the site is not particularly large, its almost rectangular shape will enable the developer to maximise land use.

Diagonally across it and separated by Slim Barracks Rise is the One-North Residence. At its launch in April 2021, 85% of the units were sold, attesting to the desirability of the area and its promising investment potential.

Blossoms By The Park Site Location

About One-North

One-North

One-North was conceptualized in 2002 to provide a vibrant work-live-play-learn research and business park that serves as a fertile ground for collaboration, innovation and business growth.

JTC was appointed as the lead agency and today, it has grown to become an icon of Singapore’s knowledge economy with a focus on key growth sectors - biomedical sciences, infocomm technology and media. It also seeks to cultivate startups with capabilities in science and engineering.

With its unique work-live-play-learn environment and the integration of industry-centric developments with residential communities, lifestyle options and educational institutes, it creates a vibrant environment for innovative minds to congregate, collaborate, and create.

Many local and foreign tech firms have set up their operations in One-North. They include Grab, Razer, P&G Innovation Centre, A*STAR, The Walt Disney Company (Southeast Asia), Industrial Light & Magic, Canon, Fujitsu Asia, Garena, Ubisoft and MediaCorp Campus among many others.

In addition, the Singapore Science Park (which is part of the greater One-North community) is among Asia's most prestigious addresses for biomedical, R&D and technology development. Its close proximity to key research and tertiary institutions and Singapore's technology start-up community has served the needs of companies like Defense Science Organisation National Laboratories, TÜV SÜD PSB, AT&T, Institute of Microelectronics, Crimson Logic, etc.

Hence, for those looking for investment, Blossoms By The Park already has a large catchment of existing tenants.

Dover Knowledge District

The Dover Knowledge District is an extension of One-North and will be developed to enhance the synergies between the nearby business parks, and academic and research institutions. With the National University of Singapore (NUS) being part of its plan, it will seek to offer vibrant integrated spaces to create exciting new jobs and learning opportunities to support Singapore's long-term economic growth.

One-North's 9 Main Zones

One-North is made up of nine main zones. Together with Science Park 1 & 2 and the Dover Knowledge District, they make up the Greater One-North. The nine main zones are:

Biopolis – Besides world-class R&D facilities for biomedical sciences, it also comprises public research institutes and private research organisations.

Fusionopolis - A work-live-learn-play development that supports R&D for the infocomm technology, media, physical sciences and engineering industries.

Mediapolis - A media hub involved in incubation and R&D for the infocomm, media, physical sciences and engineering sectors. It also provides an ecosystem for the creation of digital media content for global distribution.

Vista Exchange - A corporate and business support centre for the One-North precinct, it consists of high-rise offices, business hotels, retail-cum-entertainment centres, and residential developments. This includes the Metropolis with a pair Grade A office tower.

JTC Launchpad @ One-North - Decades-old flatted factories that have been repurposed to create a high-tech hub with dozens of digital startups and Venture Capital funds.

Wessex Estate – An area within One-North comprising 26 blocks of walk-up apartments and 58 semi-detached houses built in the 1940s. These colonial-style buildings are mostly rented out for residential living, with priority given to those working in the precinct.

Pixel - A 5,000-square-metre facility that caters primarily to the digital media sector. It is also a resource centre and focal point for content creators, owners, and game developers to foster cross-sector collaborations in content creation, delivery, and communication.

Nepal Hill - A global centre for leadership training and talent development, it comprises the ESSEC Business School and Unilever Four Acres Campus. Co-living property by The Ascott Limited - lyf One-North - will also be located in the area.

Rochester Park - A heritage site located off North Buona Vista Road, it is home to several double-storey black-and-white colonial bungalows, a symbol of Singapore's colonial past. Some of them have been repurposed to provide an inspiring dining and lifestyle retail environment to One-North's expanding community.

Excellent Public Transport Connectivity

Blossoms By The Park is only about 6-7 minutes walk to the Buona Vista and One-North MRT stations. The Buona Vista station is an interchange between the Circle and East-West Lines. This provides direct access to the West Region, Central Business District, the Greater Southern Waterfront and Marina Bay.

Given its excellent transport connectivity, it will not only appeal to those working in One-North but also those in other major employment hubs such as the Central Business District (CBD) and Jurong Lake District.

For those driving, the Ayer Rajah Expressway is less than 5 minutes away. Hence, a trip to the Central Business District, Orchard Road, Marina Bay and the International Business Park in Jurong East will only take 10 minutes.

Blossoms By The Park Enjoys Access to a Plethora of Amenities

Blossoms By The Park  enjoys easy access to many amenities. For example, The Rochester Mall and Star Vista are only 6-7 minutes’ walk away. The Star Vista a futuristic-looking shopping mall beside the Buona Vista MRT station. Besides offering a variety of restaurants and eateries, a Cold Storage Supermarket can also be found inside it.

Besides these two shopping malls, there are several other around the vicinity. These include the Market Place @ One-North, Giant at Ghim Moh Road and another two more Cold Storage supermarkets at Holland Village and Jelita Shopping Centres. Together, they provide residents of Blossoms By The Park a plethora of places to shop for groceries and home essentials, as well as lifestyle products and services.

There is also a variety of dining options - Timbre+ at JTC LaunchPad @ One-North and Deliveroo Food Market at Mediapolis. Several food centres can also be found around the neighbourhood of Ghim Moh, Dover, Clementi, Holland Village and Queensway.

Other Shopping Malls Near Blossoms By The Park

Besides The Rochester Mall and Star Vista, there are several other shopping malls located near Blossoms By The Park. These include the following:

• Holland Village.
• Clementi Shopping Mall.
• 321 Clementi.
• West Coast Mall.
• Queensway Shopping Centre.
• Jurong East Mall (JEM).
• Westgate.
• Big Box.
• JCube.
• IMM.
• Harbourfront Centre.
• VivoCity.

Many of these shopping malls can be easily reached via MRT. In fact, the Clementi and 321 Clementi shopping malls are just two stations from Slims Barracks Rise Residences while those at Jurong East - JEM, Westgate, Big Box, JCube and IMM - are one more station up.

As for the Harbourfront Centre and VivoCity, they are just six MRT stations away from Buona Vista via the Circle Line.

Rail Corridor And Other Nature Recreation

The Rail Corridor

The Rail Corridor is a former railway line stretching 24km north to south of Singapore, linking the future Woodlands North Coast to the Greater Southern Waterfront.

Some of the areas it passes through include Bukit Timah, Queenstown and Buona Vista where the Slims Barrack Rise Residences is located.

Conserved as a “green corridor”, it will be transformed into a community space linking 1 million people within 1km of the Rail Corridor. Targeted to be completed this year, it will spur the development of surrounding lands and rejuvenation of older districts.

The Rail Corridor will take visitors on a journey through a variety of nature parks, landscapes, communities and unique experiences. New commercial, cultural and entertainment developments will also be built around it.

Under the URA Master Plan, the Buona Vista stretch near the One-North business park will be transformed into a vibrant activity space where workers and nearby residents can enjoy activities such as outdoor film screenings.

Under the Queenstown viaduct nearby, there will be a Passage of Light featuring interactive floor lighting that responds to the speed of movement. It will light up in different ways when a cyclist or pedestrian passes through it. There will also a firefly garden.

These exciting developments can only enhance the quality of living for future residents of Blossoms By The Park. With its proximity to greenery and parks, One-North offers a big dose of nature that cannot be found in downtown Singapore.

Nature Parks Within One-North

There are two nature parks within One-North – One-North Park and Nepal Park.

One-North Park is a 16-ha park consisting of 13 land parcels spanning the entire length of One-North. The park is an essential element in creating a work-live-play-learn environment as it connects key developments such as Biopolis, Fusionopolis, Mediapolis and the One-North MRT station.

Located on hilly terrain next to Biopolis, One-North Park is home to various species of trees and shrubs spread over its gently rolling grounds. This provides a colourful and a beautiful relief space for those working or living in One-North.

The park also offers spacious open lawns and plazas for people to exercise or have a picnic, as well as a children’s playground and waterwall.

And located in Nepal Park are the ESSEC Business School Asian campus, Unilever Four Acres Singapore campus and a number of global MNCs. These include Google, Microsoft, Dell Technologies and Apple, among many others.

Many low-rise buildings and colonial bungalows can be found in the area, with some of them converted into offices.

With an abundance of green “lungs”, residents of Blossoms By The Park will enjoy plentiful of fresh air. At the same time, the quaint colonial houses add to the quiet ambience and an old-world charm that is rare in Singapore.

Education Institutions Near Blossoms By The Park

Blossoms By The Park enjoys close proximity to many schools and higher educational institutions. In fact, the area around Buona Vista and Clementi is known as an education hub. Two primary schools - Fairfield Methodist and Henry Park primary schools - lies within a 1-2 km radius, which will accord priority admission for children entering Primary 1.

Below is a list of schools and educational institutions near One-North:

There also many international schools near Blossoms By The Park, and this will attract housing demand from expatriates, especially those working in the Greater One-North precinct. Some of these are:

International Schools

• Dover Court International School.
• United World College of South East Asia.
• Tanglin Trust School.
• Anglo-Chinese School (International).
• The Japanese School.
• Waseda Shibuya Senior High School.

Major Transformation Near Blossoms By The Park

There are several major transformations taking place which will help to boost property values in One-North. These include:

• The Greater Southern Waterfront.
• Jurong Lake District.
• Jurong Innovation District.
• Tuas Mega Port.

The Greater Southern Waterfront

Greater Southern Waterfront

The Greater Southern Waterfront is one of the most exciting transformation in Singapore undertaken by the government, with a high-level ministerial task force tasked with its development. Extending from Pasir Panjang to Marina East, it will be transformed into a new major gateway and location to live, work and play. Comprising 30km of coastline stretching from Gardens by the Bay East all the way to Pasir Panjang, it will be twice the size of Punggol and six times the size of Marina Bay.

New residential and commercial developments, lifestyle, recreational and entertainment facilities, waterfront promenades and green corridors are included in the ambitious plan. To enable people to work near where they live, more jobs will also be created.

Jurong Lake District (JLD)

At 360-hectare, it will be the largest mixed-use business district outside the Central Business District (CBD). It will offer quality offices, housing, amenities and abundant green spaces, complemented by a leisure and recreational cluster planned around Jurong Lake to leverage on the area's unique lakeside and garden setting.

The development of JLD will revolve around four main themes - Hub for Future Economy, New Paradigm of Mobility, Smart Sustainable District and District of Gardens and Waters. In fact, it has been dubbed Singapore’s second CBD.

Jurong Innovation District (JID)

Served by six future Jurong Region Line (JRL) stations, it will be an industrial district for advanced manufacturing supported by an ecosystem of manufacturers, technology providers, researchers and education institutions such as the Nanyang Technological University. JID is envisioned to be a sustainable and livable industrial estate of the future with a vibrant ecosystem for advanced engineering. It will also be home to a thriving industry-academia collaborations.

Tuas Mega Port

By leveraging on advanced automation and more efficient processes, this next-generation port can handle 65 million TEUs when fully operational by 2040s. This will be double the volume handled by all of Singapore's ports combined today. The port’s global reach and connectivity will also benefit factories in Tuas and Jurong with quicker production-to-market turnarounds.

Map Location of One-North, JLD, JID and Tuas Port

Blossoms By The Park – An Investment Perspective

Whether buying for investment or own stay, Blossoms By The Park is worthy of serious consideration.

Firstly, for those looking for investment, they are unlikely to face a shortage of tenants due to the limited housing options within One-North. The only developments in One-North currently are The Rochester (TOP 2011) and One-North Residences (TOP 2009). There are two other older developments at the fringe of One-North - Dover Parkview (TOP 2000) and Heritage View (TOP 1997).

Hence, it is no surprise that 85% of units in One-North Eden were snapped up at its launch weekend on 25 April 2021.

Other than rental yield, residential properties in One-North have also done well in terms of capital appreciation Below, we take a look at how One-North Residences and The Rochester have performed since their launch.