Tre Residences sold out a couple of years ago, due to the value perceived in this project. It was priced at an average of close to $1,400 PSF, which in retrospect, seems like a bargain today for a city-fringe launch. That sort of PSF pricing is almost impossible to achieve nowadays, unless you opt for something further out such as Parc Komo. (Incidentally, Parc Komo is freehold, with its own shops.) An alternative is to go for cluster housing such as the Parkwood Collection launch or Belgravia Green launch.
The reason for this is that cluster houses are much bigger, which brings down the average PSF pricing a fair bit. Likely to around $1,000 PSF for the ones mentioned here. We will talk about the Belgravia Green launch first, followed by Parkwood Collection in the next feature article.
July 2020 Update: Belgravia Green is Sold Out. The only sizeable cluster house projects left now are at Parkwood Collection (99 years leasehold) and Whitley Residences (freehold).
About the Belgravia Green Launch
Belgravia Villas Showflat by Tong Eng . Developer for Belgravia Green Launch
Belgravia Green is an 81 unit cluster house development that sits on freehold land. It can be considered part of the Seletar Hills estate, but its entrance is from Belgravia Drive. This is along Ang Mo Kio Avenue 5, not too far from the Central Expressway exit.
The size of the development is good, and bigger than the norm. Generally cluster house projects, and especially freehold ones, tend to be on much smaller land parcels. They mostly range from between 10 to 30 units.
But it is better to have a development of this size. For one thing, there is more land for a fuller range of communal facilities. Here at Belgravia Green, you can have a proper sized lap pool, and a clubhouse and gym, and BBQ pavilions and kids’ play areas, and landscaping. There is enough space for the children to roam around in safely, out of the path of vehicles.
Maintenance cost per unit is also in a more manageable range, as there are simply more units around to share the costs, such as for security guards and gardeners and cleaners.
Why Cluster Housing?
Comparing traditional individually titled houses with cluster houses like the Belgravia Green launch, both have their pros and cons. The advantages of standard houses are well known. You own the piece of land your house sits on. You can tear it down and rebuild it to your heart’s content (subject to approval by relevant authorities).
But there are disadvantages, that may not be so obvious at first glance. Landed homeowners have to take care of maintaining the grounds and the exterior of the house themselves. This can be quite onerous, and is an ongoing task, which can get tiring after a while. Especially when one ages, or if you have a very busy lifestyle and can’t really spare the time.
In the case of cluster houses like Belgravia Green, all that is taken care of for you. You will have to maintain the interior spaces yourself still, but that’s a lot easier. Which is why some people opt for cluster housing. They want the space and privacy of landed houses, without having the major maintenance hassles.
And if the estate ages to a point where the owners want to get out, there is an exit strategy. Like condominiums, cluster houses are strata-titled. Which means that so long as 80% of the owners agree, you can decide to sell the land en-bloc collectively to a developer for a good price, and find something else newer, and possibly pocket some profits too.
If this interests you, you might want to sign up for the Belgravia Green showflat viewing. We will keep you posted, and email you the floor plans as well.