From Straits Times – June 18, 2007

“Scenic spot with bungalows, condos

LARGE COLONIAL BUNGALOWS PAINTED SIMPLY IN MONOTONES are nestled in lush greenery, giving the Balmoral area a peaceful, nostalgic feel. Beyond the bungalows, low-rise condo developments are also a defining feature, adding variety to the area.

THE Goodwood Hill loop at Balmoral offers a glimpse back in time.

Large colonial bungalows painted simply in monotones are nestled in lush greenery, giving the area a peaceful, nostalgic feel, with a tinge of faded grandeur.

Beyond the bungalows, low-rise condominium developments such as Casa Rosita and Balmoral Heights are also a defining feature, adding much needed variety to the area.

According to Savills, the average price per sq ft (psf) in the area is $1,460, with average asking rentals for two- to three-bedrooms ranging between $6,000 and $8,000.

City Developments’ The Solitaire, a 59-unit freehold development priced at $1,950 psf, sold out after it was launched in April.

Other recent benchmarks in the area include Eden Spring in Balmoral Road which sold at $1,004 psf per plot ratio (ppr) last month to TG Development, and One Balmoral – sold to Hong Leong Group in March for $1,188 psf ppr.

Savills Singapore director of marketing and business development Ku Swee Yong highlighted Belmond Green as a property to look out for.

‘It’s a large piece of land overlooking nice landed properties at the back.

‘When Naga Court and Casa Rosita along Bukit Timah Road launch at an expected $2,000 psf, this will see prices along Balmoral going up as well,’ he said.

Casa Rosita was acquired by GuocoLand in a collective sale acquisition in April last year for $280 million.

And Mr Ku believes that it is another development buyers looking for a scenic home could consider.

‘It actually overlooks the bungalows on Goodwood Hill and we understand that it will be developed with a small footprint and large grounds.’

No indication has been given as to when it will be launched.”


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