Overview Rating
Lavender Residence has good proximity to amenities and resale potential with future developments in the surrounding areas. It’s also freehold tenure which is a plus, but it’s important to consider sale prices compared to other developments in the region and potential rental yields before making a purchase decision.
Tenure
Lavender Residence is a freehold development which means that buyers will own the property outright without any lease restrictions or additional costs over time. Freehold properties tend to appreciate in value better than leasehold properties because they are not subject to a lease term that eventually runs out.
Amenities
The Lavender Residence has a city fringe location with various amenities all within walking distance. Farrer Park MRT and Bendemeer MRT stations are just a short walk away, and just 2 to 4 stations away is the city center, such as Dhoby Ghaut, Raffles Place, and even Orchard. The nearby Jalan Besar stadium can also be found for outdoor sports and leisure activities other than the condo facilities within the development. Residents of Lavender Residence can have excellent connections with the key central districts, such as Marina Bay Sands and the Shenton Way Central Business District (CBD). Residents may also go to nearby shopping malls such as Serangoon Plaza, City Square Mall, and Mustafa Center.
Future Development
The area surrounding Lavender Residence is undergoing some development plans by the Urban Redevelopment Authority (URA). The nearby Jalan Besar Stadium will be redeveloped into an integrated sports complex with additional amenities like a swimming pool, gymnasium, and retail spaces. This will likely enhance the value of properties in the area over time.
Sale PSF Price
The average PSF price for condos in Rest of Central Region (RCR) is around $2,294 while Lavender Residence’s price is yet to be released based on their official website. It’s worth noting that prices may vary based on unit size, location within the development, and other factors.
Resale Potential
The Lavender Residence has good resale potential due to its strategic location near amenities like schools, shopping malls, public transportation links (MRT), and upcoming developments in the surrounding areas.
Rental Yield
Based on URA data from Q2 2021, the average rental yield for non-landed private residential properties in Singapore was 2.6%. Given its location and amenities, Lavender Residence could potentially offer a comparable or slightly higher rental yield than the average.
Introduction:
Lavender Residence is a freehold mixed-use development located at 288 Lavender Street, in District 12 of Singapore. Developed by FLJ Property Pte Ltd, the condo comprises 17 residential and commercial retail units spread over six storeys. Each unit comes fully furnished with various imported fittings and appliances, making it an ideal choice for those looking for convenience and comfort.
Location: One of the most significant advantages of Lavender Residence’s location is its accessibility to public transportation. The Bendemeer MRT and Farrer Park MRT stations are both within walking distance, making it easy for residents to connect to different parts of Singapore quickly. Additionally, its proximity to major roads such as Serangoon Road, Bendemeer Road, and Jalan Besar Road, makes it easy to reach CBD areas like Raffles Place or Downtown within ten minutes.
The development is also conveniently located near several shopping centers like City Square Mall, Aperia Mall and upcoming Centrum Square Mall which should meet most residents’ needs for retail therapy or groceries. Furthermore, there are several schools nearby such as Northlight School and Hong Wen School that add value to families with children.
Units:
The units at Lavender Residence come in varying sizes of two-, three-, and four-bedroom apartments that cater to different family sizes. One significant advantage of these units is their practicality; they’re designed with functionality in mind. The finishes are well-thought-out, conveying a sense of luxury without being over-the-top.
Each space exudes a homey vibe with an astonishingly calming atmosphere; however, the downside is that they may be too small for some families looking for more spacious living quarters.
Price: The current market conditions have led developers to offer competitive prices for their new developments. At Lavender Residence’s price point range starting from $1 million upwards per unit this represents good value compared to other similar properties in the same location. The development offers a good balance between quality and affordability, making it an excellent choice for first-time homebuyers or investors.
Conclusion:
Lavender Residence is a well-designed mixed-use development that offers great value for money. Its proximity to public transportation, shopping centers, schools and other amenities make it an ideal location for different lifestyle preferences. The units are practical and well-finished, although some may find them small for their families.
Overall, the Lavender Residence represents a great investment opportunity in the competitive Singapore property market. It is recommended for families or individuals who appreciate convenience, comfort and want to live at city fringe location with good amenities.
