Glendale Park Feb 2024 Update

 

Latest February 2024 transaction showed a same size 1,033 sq ft unit changed hands for $1,723 psf which is another all time high. Compared with my purchase $psf of $1,147 in 2019 that's S$595,008 of total capital gain excluding rental gains. This in percentage term equates to 50.22% capital gain since 2019.

Even when the government is pushing for an oversupply discount in Singapore residential market, I suspect the inflow of foreign buyers from HK and China coupled with the drastic price difference between resale and new launch are still attracting higher $psf for resale market especially OCR region.

Increased property tax, MCST and income tax may also be forcing landlord to increase rental and hence driving up the rental yield, causing the asset price to further increase.

Rental quantum for my unit size(1,033 sq ft) is ranging between 3.9k to 4.2k per month now. Which means I may have room to increase my rental(3.7k) when my tenancy is over. See how it goes.

Another perk that I have never mentioned about Glendale Park is its 400m proximity to CHIJ Our Lady Queen Peace. Which is a government aided school. It offers Higher Chinese/Malay/Tamil to Primary 3 students onwards. CHIJ OLQP also has an affiliation to CHIJ Saint Theresa's Convent, which is a government-aided Catholic girls' secondary school.

This means, besides the freehold status, the MRT and mall proximity, Glendale also has a school effect for parents who wants to send their kids to an all girls government aided school with affiliation.