The collective sale process is in full effect, and yet another great condo is up for sale. The Changi Garden has a set of 60 apartments, but it also includes 12 shops and 12 penthouses too. The asking price is $196 million here, so the overall sq ft per plot ratio is around $700. Not a bad price at all, and it goes to show that there’s plenty of value to be had in here as a whole.
Apparently, in case the owners will receive that asking price, the gross sales that you can get here can go up to $.179 million, the penthouse can be $3.18 million and so on. The Changi Garden establishment is right at the Upper Changi Road North and the Jalam Mariam junction.
The benefit here is that it has lots of landed houses in the region and people that will live here will have quite a lot of value from it. The development has a wide array of lifestyle as well as communal facilities in the region.
Finding a freehold condo with such a large size is a rare feat, and at the same time it’s important to note that the preparations for the overall collective sale have already started in March last year. A lot of developers are liking the size, so we may see a lot of them focus on getting the Changi Garden establishment as fast as possible.
If it will go over that asking price or not, that leaves some questions. But it goes to show that the value is indeed there, and the site is zoned for the residential use at a 1.4 plot ratio which is really helpful and nice. There’s also the Terminal 4 and the Jewel Changi airport that are in development and which will most likely add a lot of appeal to this location.
A thing to note here is that there are 6 potential deals that, if they are completed, they can lift the value with around $2.3 billion, not to mention that this could add around 4600 units in total.
Whether this deal will go through or not, that’s very hard to say. But there are lots of chances and the Changi Garden condo does tend to have a lot of great things going its way. It’s definitely going to be a challenge to sell it at the asking price, but developers do know that the potential return on investment can be huge here.
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