DEAL WATCH: 1,399 sq ft unit at The Gardens at Bishan for sale at $1.19 mil

By Tan Chee Yuen
/ EdgeProp |
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The Gardens at Bishan is a 99-year leasehold condominium that was developed by GuocoLand. Completed in 2004, it comprises 756 units housed in four 20-storey blocks.
A 1,399 sq ft, two-bedroom unit is listed for sale on at $1.19 million ($849 psf). The unit is well maintained and in good condition, and will be sold with vacant possession, according to Linndal Koh, a property agent from who is marketing the unit. The ground-floor unit does not face West, and is therefore not affected by the heat from the afternoon sun, she adds.
The main selling point of the property is its close proximity to the upcoming Bright Hill MRT station on the Thomson-East Coast Line, which is expected to be completed in 2020, says Koh. In addition, Ai Tong School is located within 1km of the condo.
The Gardens at Bishan is close to the upcoming Bright Hill MRT station
Although The Gardens at Bishan is not located within walking distance of nearby malls, there is a private shuttle bus service from the condo to Junction 8 and the Bishan MRT station.
In 1H2017, one unit between 1,300 and 1,400 sq ft was leased at a monthly rent of $2,100, based on URA data. In 1H2016, three units of this size were rented out at $2,100, $2,350 and $2,500 monthly.
Units at The Gardens at Bishan were launched at an average price of $600 psf in 2000. At the height of the market, an 883 sq ft unit changed hands for $1.04 million ($1,176 psf) in March 2013. Prices have softened after hitting the peak, with average prices in the range of $986 to $1,024 psf over the past three years.
This article appeared in The Edge Property Pullout, Issue 791 (August 7, 2017) of The Edge Singapore.

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