**Yes, but with crucial distinctions.** Recent regulatory changes—chiefly the **URA Gross Floor Area (GFA) Harmonisation rules**—have made older, spacious resale condominiums like **Laguna Park** exceptionally appealing for *own-stay living and space efficiency*, but **less viable for en bloc speculation**.
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### 1. Why Older Condos Feel "Extremely Attractive" Now
* **No Wasted GFA / Space Premium:** Under URA’s harmonisation rules, developers can no longer charge buyers for non-strata void spaces or large air-con ledges. However, new launch unit layouts remain compact (e.g., 3-bedders often under 1,000 sq ft). Older condos from the 1970s–1980s offer pure internal usable liveable area:
* A 3-bedroom unit at Laguna Park measures **~1,453 to 1,615 sq ft** with massive living halls, enclosed kitchens, and genuine yard areas—at psf rates far lower than newer District 15 launches.
* **Infrastructural Uplift (Thomson-East Coast Line):** With **Siglap MRT (TE28)** directly at its doorstep, connectivity has dramatically closed the location gap.
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### 2. The Catch: The "En Bloc Trap" for Mega Leaseholds
If you are buying Laguna Park hoping for a quick collective sale windfall, you must be cautious:
* **GFA Harmonisation Hit to Developers:** Harmonisation reduced developer saleable site efficiency by roughly 5% to 10%. This means developers have to bid more conservatively on land acquisitions.
* **Enormous Capital Quantum:** Laguna Park sits on an immense site of ~670,000 sq ft. A successful collective sale commands over **S$1.4B to S$1.5B+**, plus massive Land Betterment Charges (LBC) and lease top-up premiums to SLA. Developers avoid taking on mega-land risks under today's 40% developer ABSD rules.
* **Lease Decay:** Completed around 1978 (99-year leasehold, ~51 years remaining), bank loan tenures and future resale exit pools will contract over the next 10 years.
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1. Are you targeting Laguna Park primarily for own-stay lifestyle/space or for long-term collective sale (en bloc) potential?
2. What purchase budget and unit size (e.g., 1,453 sq ft vs 1,615 sq ft) are you currently evaluating?
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Gan Eng Joo Onassis 颜荣裕, REALTOR®
MSc BIT (Middlesex, England, United Kingdom); BBA (South Australia)
CEA Reg No: R021244C | Singapore Line:
(+65) 88899918
Email: onassis@sgagent.com
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