Boonview Condo – Value Buy for Property Investors
Despite cooling measures, investors are still hunting for the best possible Real Estate deals in the market. And most investors would agree with me that during good times or bad times, there will always be good buys if you search hard enough.
Boonview is a rare freehold condominium that is situated of 1 Marymount Terrace. I’d leave the judgment of the rarity for you to call with the following reasons,
Freehold Condominium in Bishan/ Pemimpin Area
Sitting on a very decent piece of land size, it is a full facilities condominium that sits right in between the 99 year leasehold Seasons View (by Far East) and next to a brand new freehold Tresalveo (by the same developer as Boon View, Soon Lian).
Looking around the area, you can only find 3 freehold condominium plots, namely Marymount View (being the oldest), Tresalveo (which is building) and Boonview which is the newest available (TOP since 2003) in the market.
The rest are definitely leasehold projects. To name a few like Bishan 8, Rafflesia Condominium, Seasons View.
Marymount MRT Station is also just 250 meters away, which makes Boon view stands out among other projects as freehold land right next to a MRT Station is hard to come by in Singapore’s context.
Notice the “A” floater that is showing on Google Map? That would be the location of Boonview exactly. It is almost right smack in the middle of Singapore, you could tell whether driving towards any directions, it would almost be the same duration!
It is near to good schools such as Catholic High (0.52km) and Raffles Institution (0.83km). Amenities such as Shunfu market is within walking distance and Junction 8 (0.73km) is not far away for all your entertainment and banking needs.
Good Apartment Form and Under-Priced
The layout of the apartments are generally good. You can feel the size as compared with the new condominiums where the rooms tend to be apprehensive with bay windows and planter boxes. The apartments with sizes specified are almost built-in (with the exception of mansionettes because of the staircases).
There are studio apartments up till 3-bedroom mansionettes available. Boonview only offers two penthouses (the only two 4-bedroom apartments). The maintenance fees of the project is reasonably priced, a typical 3-bedroom fees including sinking fund will set you back around $284 a month (a 1,292sqft apartment).
With a calling price of average of $950 psf for the 3-bedroom units and above (as of December 2010), you can’t go wrong when new leasehold projects which are near to MRT stations and still out of the way are going for 1,300 to 1,400 psf. Let’s not forget this is a freehold project with full condominium facilities. Boonview prices are also quite protected with Soon Lian selling Tresalveo (just next door) with a price range from 1,200 – 1,300psf.
Upcoming North-South Expressway
With the brand new 15.9km North-South Expressway going to be ready in 2020, there’s future appreciation with better traffic connectivity.
Contact any of your nearest District 20 Real Estate Agents to view any of the Boonview units to avoid disappointment ;)