Launched in June 2018, Affinity at Serangoon, developed by leading Singapore property developer, Oxley Holdings is one of the truly rare new launches that has sustained its demand long after the announcement of the cooling measures in 2018 and long into 2019.
Despite the series of recent new launches in Singapore, over 20 – 30 units are transacted each month based on URA real estate data as of May 2019.
In this article, we attempt to answer the question of why Affinity at Serangoon is highly sought after by home buyers in Singapore, even when there are many other new launches in the market.
The MRT effect
Researchers from National University of Singapore found that properties within 400m of an MRT station garnered up to 4.2% higher property prices than properties beyond 400m.
With such findings, savvy investors began zooming in on properties that were within 400m to MRT station. New launch development Affinity at Serangoon is located within a 5 min walk to the new Serangoon North station which is part of the new and highly anticipated Cross Island Line. Since then, we have seen hundreds of transactions for Affinity clocked in 2019 and it is widely regarded as one of the most talked about properties in Singapore.
In fact, the MRT effect, as coined by locals, is most prominent in city fringe suburbs as these areas are slightly further from the city centre and residents prefer to have the added convenience of being within close proximity to a train station, and ideally one that connects them directly from the East to the West as the Cross Island line would.
Spillover demand from The Punggol Digital District and CBD
The New Punggol Digital District which will be opened in phases from 2023, a year before Affinity at Serangoon’s TOP is expected to create 28,000 jobs and drive up tenant demand in the area.
The Digital District will be connected to all parts of Singapore through a host of new underground transport infrastructure including the new Punggol Coast MRT station, a future underground station.
The new Singapore Institute of Technology campus will also be in the district which will create additional demand for homes, both from students and academics.
With Affinity at Serangoon located between the Punggol Digital District and Central Business District, the potential upside for investors and homeowners is vast.
Proximity to Top Schools
For families with children, top primary schools, Rosyth School and Zhonghua Primary School are both within 1km radius from Affinity at Serangoon. In addition to that, residents have the added option of various international school alternatives such as Lycee Francais de Singapour and the Australian International School
For most families, Affinity stands out among all new launches in Singapore due to its rare proximity to MRT, top schools and potential investment upside.
However, the Affinity is more than just a home, it is a lifestyle. The Affinity offers 1-4 bedroom apartments and 40 exclusive townhouses that caters to new and multi-generational families.
With more than 10 thematic gardens onsite, residents can return home to a natural and private oasis each day.
Each unit is armed with high ceilings, skylight and no expense is spared when it comes to furnishing. Each bedroom is designed to fit at least a queen size bed, offering homeowners a truly luxurious space.
For a limited time only, Oxley Holdings is currently offering a 5% ABSD discount for all buyers, including foreigners looking to invest in Singapore.
To arrange a private viewing of Affinity at Serangoon, please leave your contact details below.