Eastwood Park is a sought-after residential development located in Bedok, Singapore (District 16). Its location and amenities make it an attractive option for both potential homeowners and investors alike.
This article provides a comprehensive overview of Eastwood Park, including detailed property information, recent sales data, and a general market analysis to help you make an informed decision. We’ll take a look at what makes Eastwood Park such a desirable place to live.
Eastwood Park: Property Overview
Eastwood Park is a housing development made up of terrace and semi-detached houses in Singapore’s District 16 (Bedok), near Eastwood Road and the surrounding streets.
Here are a few key facts about the property:
- Developer: LE GRANDEZA DEVELOPMENT PTE LTD
- Tenure: 99 years from various dates in 1995
- Number of Units: 38
- Est. Land Size: 258 sqm
- Master Plan GFA: 361 sqm
- Master Plan Plot Ratio: 1.40
Located in the Outside Central Region (OCR), Eastwood Park is close to local amenities, a factor that can make it an attractive option for potential residents.
Sales and Rental Performance
If you’re considering a purchase or rental at Eastwood Park, it’s helpful to understand the property’s performance history. Here’s a snapshot:
Sales Data
- Indicative Price Range/Average: Around S$ 1,093 per square foot (psf).
- Historical High: S$ 1,177 psf in November 2022 for a 1,934 sqft unit.
- Historical Low: S$ 281 psf in November 1998 for a much larger 4,263 sqft unit.
- Compared to the Historical High: The indicative average price is about 7.1% lower.
Rental Data
- Indicative Rental Range/Average: Approximately S$ 2.5 psf per month (pm).
- Implied Rental Yield: Roughly 2.8%.
Buyer Profile
Who’s buying at Eastwood Park?
- Residential Status: Predominantly Singaporean (95.3%), with a smaller percentage of Permanent Residents (3.8%).
- Previous Address: A mix of buyers coming from HDB (34.9%) and private residences (65.1%).
Market context and nearby developments
Eastwood Park is located in District 16, also known as Bedok, a popular and easily accessible residential area.
Bedok is part of the East Region, the second-most densely populated region in Singapore. The East Region has a lot of economic activity, especially in aviation and manufacturing.
New developments and transport connections are currently under construction in the East Region, which should make it easier to get around.
For example, Bagnall Haus, at Upper East Coast Road, was sold and awarded in January 2023. The site area is 6,463 square meters, with a site GFA of 9,771 square meters. The highest bid was $115.3 million, or $1,106 per square foot. The estimated breakeven is $1,947 psf ppr.
Eastwood Park: Investment Potential and Considerations
If you’re considering Eastwood Park as an investment, there are a few key things to keep in mind. First, take a close look at the rental yield of 2.8%. Is that a competitive rate compared to similar properties in the area? It’s also worth understanding who’s buying these units. The fact that a high percentage of buyers are Singaporean might suggest a certain level of stability. And a good chunk coming from HDB addresses could mean there’s a strong potential upgrade market.
Also, think about how nearby developments, like Bagnall Haus, might affect property values in the area. Will they have a positive impact? Finally, don’t forget that Eastwood Park is a leasehold property. What are the implications for a long-term investment strategy?
Summary
Eastwood Park, located in Singapore’s East Region, offers a mix of landed properties with appealing market data. Its location and property types make it attractive to potential homeowners and investors seeking rental income.
But to get a complete picture of Eastwood Park’s value, it’s essential to consider the broader market context. The East Region is undergoing significant development, and Singapore’s overall economic activity will affect the value of Eastwood Park properties.
Eastwood Park is a development with a performance record to consider, as well as the impact of ongoing and future developments in the surrounding area. Both of these factors can potentially impact the value of the real estate.