Fourth Avenue has become the hottest area in Singapore’s property market. There were many big deals successfully transacted on several areas in Singapore, and one of them is the Fourth Avenue in Bukit Timah are. Allgreen Properties Limited ousted 6 other developers in securing the land in Fourth Avenue. It was revealed that this company bought the land for S$533 million. Now, they are going to develop it into one of the most luxurious condominium, name as Fourth Avenue Residences. The exact location of this condominium is at 2 Fourth Avenue.
“As a developer, I believe that one must build from the “heart” to be able to consider the persons that the building is for.” – Lee Yew Kwung, CEO, and Director of Allgreen Properties Limited.
The Fourth Avenue Residence is actually a 99 years leasehold condo project, which may be viewed as not that attractive, as compared to the freehold land that surrounds it. However, Allgreen Properties sees this land as one of the most promising and valuable land in Singapore. Therefore, they didn’t hesitate to take this land and develop it. Now, they are launching a condominium complex that provides the most desirable environment to live for the prospective home owners and investors.
The most outstanding attributes of Fourth Avenue Residences is the proximity to Sixth Avenue MRT Station, as it is almost literally right next to the train station. This is probably what made Allgreen Properties and 6 other developers to fiercely contest for this plot of land. With the convenience of MRT station right besides, investors can rent it out easily and at the same time expect potentially good capital appreciation, and for buyers making this their home, it is easy for them to commute around and enjoy potential capital appreciation, and thus, it is a win-win situation for all. Is there any good if a condo is freehold and situated far away from good transport infrastructure, but yet, it is hard to rent out and dimed the potential of capital appreciation?
With the price that Allgreen Properties paid, the price for the land is S$1,540 psf, and according to Cushman & Wakefield research, Fourth Avenue Residences price may be selling at about S$2,250 psf. This is the proof of the great decision made by Allgreen Properties to take this land for their project.
About Allgreen Properties Ltd
Allgreen Properties Ltd is the real estate arm of The Kuok Group in Singapore. This company is known as one of the largest and most reputable developers in Singapore that build high-quality homes that resonate well with buyers and are always sold out. Fourth Avenue Residences will be one of the most luxurious and sought after condominium in Bukit Timah due to all the positive attributes surrounding this project.