Bukit Sembawang Estates’ latest freehold strata landed housing development Watercove offers residents the perfect blend of landed and condominium lifestyles right next to the sea.
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Cluster developments are hugely popular among discerning home buyers in Singapore, and its easy to see why: residents can look forward to living in an exclusive development that offers 24-hour security, well-maintained gardens, and an array of lifestyle amenities – similar to what they would get with condominiums, without compromising on the privacy and spaciousness they would get from living in a landed property.
Cluster developments can include terraced houses, semi-detached, and even bungalows.
Commenting on the attributes of cluster homes, Joseph Tan, Executive Director (Residential) at CBRE shared: “Strata landed homes offer ample living space and is particularly attractive to multi-generational households with a full suite of common facilities within a gated, secure compound.”
Excellent rental yields and fuss-free maintenance
According to analysts, other factors that contribute to the popularity of cluster homes include their ability to command good rental yields, equivalent to landed houses, which means more rental income for a cheaper purchase price. More importantly, buyers of cluster homes can avoid the hassle and cost that come with owning a landed property, as a cluster development typically has a managing agent who will take care of all the maintenance on a regular basis, such as up-keeping of the pool, repair works, paint works and more.
That said, cluster developments are considered a rare find on the Singapore property market.
Tan said that supply is becoming rarer, with developers building fewer strata landed units due to more stringent rules introduced in August 2014 to limit their numbers.
So, for home buyers and investors looking for a quality cluster home, whether for investment or residential living, Watercove, which is located next to Sembawang, will no doubt make an excellent choice as it is one of the last freehold cluster homes located near the sea.
Cluster housing developments come with ample facilities, including swimming pools.
Great investment potential
The appeal of Watercove as an investment property is further strengthened by its unique location next to Sembawang Park, near the sea. In fact, Watercove is the first freehold development with 80 exclusive units to be launched in Sembawang in more than 10 years, which has fuelled pent-up demand for residential projects in this part of Singapore.
Unlike in the 1960s, when Sembawang was mainly known for being a commercial dockyard, the area has since been extensively developed in the last few decades, and now houses a vibrant public housing estate. The new town also features many communal facilities such as the Sembawang MRT station, Sembawang Bus Interchange, shopping malls and schools.
The allure of Sembawang is further enhanced by its proximity to nearby industrial clusters such as Woodlands Regional Centre, Seletar Regional Centre, Punggol Creative Cluster and Learning Corridor, and the upcoming Seletar Aerospace Park.
The underway Seletar Aerospace Park, which is envisioned to be a world-class dedicated aerospace regional facility, is expected to create about 10,000 jobs upon its projected completion in 2018, while the Woodlands Regional Centre, which is part of a larger commercial belt called the North Coast Innovation Corridor, will house the first business park cluster in Singapore’s northern area.
Envisioned to be a commercial hotspot, the North Coast Innovation Corridor, which in tandem with the future cross-border rail link into Malaysia, will spawn a new generation of modern factories and innovation centres that will stretch from Woodlands Regional Centre, with more than 700,000 sq m of modern commercial space and more than 100ha of developable land. This will stretch to the Gambas area and continue towards the east to Yishun, past the upper Seletar Reservoir, into the Seletar Aerospace Hub, and will continue towards the east to join the Punggol Creative Cluster and Learning Corridor.
That is not all as the government has announced that Sembcorp Marine will be relocating all its Singapore shipyards to Tuas by 2024, as such, a huge plot of waterfront land will be freed up along Sembawang coastline, which will be redeveloped – possibly for both commercial and residential purposes – to be a part of the North Coast Innovation Corridor.
A good mix of nature and modern convenience
Lastly, what makes Sembawang a rare neighbourhood unlike the others in Singapore is that it offers a good mix of nature, history and modern convenience, making it an ideal residential address for those who seek privacy and tranquillity, yet would also like to enjoy easy access to amenities.
For nature pursuits, nature lovers should explore Sembawang Park, Bottle Tree Village, Sungei Sembawang and Sembawang Hot Spring.
Also in the pipeline are two new wildlife parks; a Bird Park and a Rainforest Park, which will be a part of the new Mandai nature precinct. According to Mandai Safari Park Holdings, the new Bird Park, which is set to open by 2020, will comprise nine large aviaries and will house one of the world’s largest collections of birds. In addition, the new Bird Park will also feature a facility that focuses on breeding and researching endangered species from all over the world. The Rainforest Park, on the other hand, which is scheduled to open in 2023, will not only offer visitors with access to a series of open spaces in the heart of Mandai, but it will also offer an indoor nature-themed education centre focusing on raising awareness and appreciation of the region’s biodiversity and natural heritage.
For shopping, dining and entertainment pursuits, there are several malls that can meet those requirements such as Sembawang Shopping Centre, Sun Plaza Shopping Mall, Chong Pang City, Causeway Point and Northpoint Shopping Mall.
For more information, please visit: www.watercove.com.sg
