Location and Site Details
URA Launches Margaret Drive Site for Sale : The residential site at Margaret Drive, recently launched for sale under the GLS programme, spans an expansive 102,497 square feet under a 99-year leasehold. Located within walking distance of Queenstown MRT Station, the site boasts superb connectivity and access to nearby amenities, making it a prime choice for future residents.
Schools like Queenstown Primary and Secondary School are in close proximity, adding to the appeal for families. Potential architectural designs for the development can seamlessly integrate with the surrounding landscape, creating harmonious living spaces.
Market Insights
Given its strategic location and appealing features, the Margaret Drive site is poised to attract significant interest, especially considering the recent market trends and property valuations in the Queenstown area. The surrounding HDB estates have witnessed million-dollar resale transactions, reflecting robust demand and an upward trajectory in price trends.
The median price of 4-room and larger HDB flats in Queenstown stands at $908,000, underscoring the area’s attractiveness to upgraders. Recent developments like Sterling Residences have seen a 23.8% increase in median resale prices since 2018.
URA Launches Margaret Drive Site for Sale : Development Potential
North-facing units on the upper floors of the Margaret Drive site are anticipated to offer unblocked views, enhancing their appeal to potential buyers. This feature, combined with the site’s proximity to Queenstown MRT Station and reputable schools, is expected to create a strong demand pool.
The site’s strategic location and desirable attributes suggest significant upgraders potential from nearby HDB estates, where million-dollar resale transactions have been reported.
Bid predictions for this prime site range between $1,150 to $1,250 psf ppr, translating to an absolute price between $494 million and $537 million. These factors collectively position the Margaret Drive site as an attractive investment, promising a vibrant residential project that will cater to discerning homebuyers seeking community and exclusivity.
This is nevertheless a 99 year old property. For freehold, you might want to check out the 21 Anderson New Launch Condo !!
Q&A Section
Q1: What are the key features of the Margaret Drive site?
A1: The Margaret Drive site offers an expansive area of 102,497 square feet with a 99-year leasehold, strategically located near Queenstown MRT Station and reputable schools. It promises superb connectivity, lush greenery, and potential for harmonious living spaces. You can find more details on URA web site.
Q2: What is the development potential of the Margaret Drive site?
A2: The site is expected to attract strong interest due to its desirable attributes, including unblocked views, proximity to amenities, and potential for significant upgraders from nearby HDB estates. Bid predictions range between $1,150 to $1,250 psf ppr, indicating substantial investment potential.
Q3: What property market trends support the attractiveness of the Margaret Drive site?
A3: Recent trends show a robust appreciation in median resale prices, particularly in developments like Sterling Residences. With million-dollar transactions in nearby HDB estates, the Margaret Drive site presents a promising investment opportunity amidst strong market fundamentals.
