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The sale of Norwood Grand on Champions Way marks a significant event in the history of government land sales (GLS) for non-executive condominiums in Woodlands. This is the first GLS for such properties in the area since 2011, after the development of 689-unit Parc Rosewood on Woodlands Avenue 2 and Rosewood Drive at a rate of $367 psf ppr. The addition of Norwood Grand Champions Way only adds to the excitement and natural appeal of this development.
The bustling town of Woodlands has always been a popular choice for homebuyers and property investors. With its close proximity to the central business district and a variety of amenities, it’s no wonder that this neighborhood has seen a steady rise in property prices over the years. However, the recent government land sale of Norwood Grand Champions Way has marked a significant milestone for the town, especially in the non-executive condo market.
In conclusion, the launch of Norwood Grand Champions Way marks a significant milestone for the Woodlands property market. With its prime location, quality developer, and pent-up demand, it is no surprise that this development is highly anticipated by buyers and investors alike. However, as with any investment, buyers should carefully consider their options and do their due diligence before making a decision. With the right approach, Norwood Grand Champions Way could be a valuable addition to one’s property portfolio.
The development is expected to yield around 365 residential units, ranging from one to four-bedroom apartments. As an executive condo, it will be subject to certain eligibility and ownership restrictions for buyers. This is in line with the government’s efforts to provide affordable housing options for Singaporeans, especially for the middle-income group.
Aside from the prime location and pent-up demand, there are other factors that make Norwood Grand Champions Way an attractive option for homebuyers and investors. The development is expected to offer a wide range of facilities, including a swimming pool, gymnasium, and BBQ pits, providing a resort-like living experience for residents. In addition, with the upcoming developments in the Woodlands Regional Centre, such as the Thomson-East Coast Line and the North-South Corridor, there is potential for capital appreciation of the properties in the area.
In recent years, the Woodlands housing market has been dominated by executive condos, with the last non-executive condo launch in the area being Primz Bizhub in 2009. This has resulted in a pent-up demand for non-executive condos in the town, especially from buyers who do not meet the eligibility criteria for executive condos. With the launch of Norwood Grand Champions Way, these buyers now have a chance to own a private property in this desirable location.
TID Residential, a subsidiary of Hong Leong Holdings, is no stranger to the Woodlands property market. They have previously developed The Tennery, a mixed-use development in the nearby town of Bukit Panjang, which received positive response from buyers. With their track record of delivering quality projects, buyers can expect the same level of excellence in Norwood Grand Champions Way.
As the first non-executive condo launch in a decade, Norwood Grand Champions Way is expected to generate a lot of interest from homebuyers and investors. The last launch of an executive condo in Woodlands, Parc Canberra, saw a record-breaking number of units sold on the first day of launch. This indicates a strong demand for homes in the area, and the launch of Norwood Grand Champions Way is set to continue this trend.
The keen interest in this site can be primarily attributed to its prime location. Situated at the junction of Woodlands Avenue 12 and Woodlands Rise, Norwood Grand Champions Way is just a stone’s throw away from amenities such as Causeway Point mall, Woodlands MRT station, and Woodlands Regional Centre. Its strategic location makes it highly attractive for both homeowners and investors, as it provides convenience and connectivity for residents.
The government’s initiative to revitalize Woodlands as an innovation hub has generated a buzz of excitement among businesses centered on science, technology, and education. This move is likely to draw in a diverse pool of professionals, encouraging a vibrant exchange of ideas and promoting a spirit of creativity within the community. For this vision to come to fruition, it is imperative for the government to prioritize the development of infrastructure, resources, and policies that actively facilitate the growth and prosperity of these enterprises.
However, as with any property investment, there are risks involved. One major factor that may affect the demand for this development is the economic outlook. With the ongoing pandemic and its impact on the economy, buyers may be more cautious in their property purchases. Additionally, with the influx of new developments in the area, there could be potential competition for tenants and buyers in the future.
Renamed as the hub of communal shopping, 888 Plaza stands out as a central location for everyday necessities. With a diverse range of dining options, a well-stocked supermarket, and an array of retail stores, this plaza is highly regarded for its convenience and straightforward shopping atmosphere. It is a favored destination amongst the locals who seek to conveniently run errands or indulge in relaxed dining experiences.
To achieve this vision successfully, the government must prioritize the development of infrastructure, resources, and policies that support the growth and success of these businesses.
After a decade of no government land sales for non-executive condos in Woodlands, the release of Norwood Grand Champions Way has caused quite a buzz in the property market. The 99-year leasehold site spanning 1.1 hectares was awarded to the winning bidder, TID Residential, for a whopping $354.2 million. This translates to a land rate of $800 per square foot per plot ratio, making it the highest land tender price for a non-executive condo site in Woodlands since 2009.
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