Best Freehold Resale Property for Under $1.8M

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If you’re on the hunt for a resale property with a budget of $1.8M, let me take you up to North township of Lentor in a considerably older freehold property known as the Bullion Park.

Developed by Far East Organization in 1992, located 6 blocks off lentor loop, Bullion Park is a charming property featuring a rustic contemporary vibe standing in approximately 520,000 square feet of land equipped with full condo facilities and is considered a mega development even in today’s standards.

Coming across a three-bedroom unit in this property that sells for $1.7M or under is a deal you shouldn’t miss.

Why? To give a more in-depth look, we will analyze the Bullion property using the QPA method, a guide to determine the value of property based on three main principles: quality, price and exit strategy.

First, Quality: Talking about quality in a property brings us to four points of consideration- all of which Bullion Park hits.

Landsize, facilities and façade: Bullion Park is one of the largest developments in North Singapore, sitting on almost half a million square feet of land, this expansive property is equipped with full condo facilities- from all sort of courts, mini marts, to child care- to ensure your needs are fully met.

Layout: A three-bedroom unit in Bullion Park features clean and well-proportioned layout, ranging from 1238 for type a to 1259 square feet for type c.

Location MRT and Amenities: After the completion of Eastern Thompson Line, Bullion Park is now more accessible than ever with an approximate 11-minute walk distance from the nearest MRT. With the ongoing development of Lentor Modern Shopping mall, the future also looks bright for property owners looking for convenience.

View: Bullion Park offers diverse yet equally great views, from serene pool views for lower floor units to expansive panoramas for flats on higher levels.

Bullion Park is off the chart in terms of quality. It has everything you need within its expansion, well-thought-out spaces, convenient location and scenic landscapes.

Moving Forward we have Exit Strategy: This principle looks at four external considerations to determine a property’s future marketability.

Supply and Demand: Despite concerns that government land sales within proximity of Bullion Park might result in oversupply, this isn’t really an issue given that none of these land sales offer the same value as Bullion Park’s freehold properties that come in big plots of land.
Transformation: New infrastructure developments such as the North-South Corridor is set to positively impact Bullion Park’s value in time to come.
Schools: Although there are no top school within the property’s vicinity, this shouldn’t be a major concern as this area is not really one that is sought for its schools.
Target Audience: Bullion Park appeals to a vast group of target audience including HBD Upgraders, Landed Property Downgraders, Freehold Enthusiasts and people within the Middle-Older age brackets drawn to bigger spaces, rustic charm of older properties or familiarity of the location.

Last but certainly not the least Price: Price is really where it shines for Bullion Park in terms of value. To paint you a picture, let’s compare the recent transaction from Bullion Park to older neighboring leasehold properties.

Bullion Park hovers at around $1.7 million or $1350 per square foot while neighboring leasehold properties are transacting between $1150 to $1200 per square foot or about $1.5 million.

In perspective that’s a $200,000- $150,000 price gap, a not-so-substantial amount considering you’re getting your hands on a freehold property like Bullion Park. But what about the newer launches you might ask?

Well, recent launch prices are not looking too good in comparison to Bullion Park, a quick look will leave you with a pretty wide gap of 600-700 per square foot.

The entire Lentor launches like Lentor Hills and Lentor Centro are already hitting around $2000 per square foot or about 55-60% difference, while entry level launches with the same three-bedroom units ranges at $2.2-2.3 million.

Now, imagine if these prices are to go higher in the future, like say $2.5-2.6 million consecutively. What do you think would that do for the value of a Bullion Property you acquired for $1.7 million?

Takeaway

To say the least, buying a three-bedroom unit in an all-rounder property like Bullion Park for $1.7 million is a safe move even in comparison to its old selling price of $1.4 million.

In today’s economy, it’s not often you would come across a property that packs the same value as Bullion Park. With large spaces, full amenities and expansive landscape to explore, it’s an option I highly advise considering, especially as in the nearing future, deals like this might stay to be a thing of the past.

If you’re in the search for other value properties within your reach, keep updated on this website for future articles unveiling hidden gems in the market. On the lookout for the best properties at your price? Reach out to us. Your next step to your dream home is just a click away.

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