The Dunman Road condo land parcel site's larger land parcel size allows the developer to build an estimated 1,040 new condo units. Kiwi Lim from Huttons Asia believe that this large land parcel along Dunman Road will mainly attract large reputable developers with deep pockets or joint ventures between a few developers to trigger and bid for the Reserve Site.
Proximity to Schools and Amenities
The future Dunman Road new condo will enjoy close proximity to educational institutions such as Chung Cheng High School (Main), Broadrick Secondary School, Tanjong Katong Girls’ School and Tanjong Katong Secondary School. Amenities such as 51 Old Airport Road Food Centre, Katong Swimming Complex and Paya Lebar Square are also a short distance away.
The Dunman Road condo land parcel site is also close to amenities like Sheng Siong Hypermarket (Tanjong Katong), NTUC Fairprice (Geylang Lorong 38), and Giant (Tanjong Katong Complex). The closest shopping malls are Kinex Shopping Mall, City Plaza, and Joo Chiat Complex.
Future residents at this Dunman Road new condo will enjoy direct access to Geylang Park Connector that runs along Geylang River connecting seamlessly to Marina Reservoir and Gardens by the Bay.
As private property prices in Singapore post the steepest quarterly rise in pricing in almost 3 years after rising 2.9 per cent in the first quarter of 2021 from the fourth quarter of last year — the steepest jump since the second quarter of 2018, Kiwi Lim believe that the Dunman Road condo land parcel could possibly attract a top bid of around SGD1,150 psf ppr - potentially paving the way for a new benchmark pricing to be set for the area of possibly an average starting price of $2,150 psf taking into account higher constructions costs of 30% to 50% increase globally during the Covid pandemic.
At the current pace of price growth, a new peak may be formed by the second half of this year.
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