Nestled in the heart of Choa Chu Kang, 490d Choa Chu Kang Ave 5 is a residential development that has captured the attention of many homebuyers and investors alike. With its prime location, modern amenities, and spacious living spaces, it’s no wonder that this development has become so popular.
Understanding the Market: 490d Choa Chu Kang Ave 5
Property Prices and Trends
According to data from SRX, the average transaction price for a 3-bedroom unit at 490d Choa Chu Kang Ave 5 was S$750,000 in 2021, a 10% increase from the previous year. This price growth is driven by the increasing demand for housing in this area, as well as the limited supply of available units.
Rental Market Potential
The rental market for 490d Choa Chu Kang Ave 5 is also strong, with an average rental yield of 3%. This is due to the development’s proximity to major amenities, such as shopping malls, restaurants, and schools. Additionally, the presence of the MRT station within walking distance makes it an attractive option for tenants who prioritize convenience.
The Development: 490d Choa Chu Kang Ave 5
Design and Architecture
490d Choa Chu Kang Ave 5 is a modern development that features a sleek and contemporary design. The building is composed of two 12-storey towers, which offer a total of 192 units. The units range in size from 2-bedroom to 5-bedroom apartments, providing a wide range of options for different family sizes and lifestyles.
Amenities and Facilities
Residents of 490d Choa Chu Kang Ave 5 enjoy access to a wide range of amenities and facilities, including:
- Swimming pool
- Gym
- Clubhouse
- Playground
- BBQ area
- 24-hour security
Common Areas and Green Spaces
The common areas at 490d Choa Chu Kang Ave 5 are designed to promote a sense of community and relaxation. The development features lush green spaces, with well-maintained gardens and seating areas. These areas provide a peaceful and tranquil environment for residents to escape the hustle and bustle of city life.
The Location: 490d Choa Chu Kang Ave 5
Transportation
One of the most significant advantages of 490d Choa Chu Kang Ave 5 is its prime location. The development is situated just a short walk from the Choa Chu Kang MRT station, which provides convenient access to the rest of Singapore. The area is also well-served by bus services, making it easy to get around even without a car.
Shopping and Dining
490d Choa Chu Kang Ave 5 is surrounded by a wide range of shopping and dining options. The Lot One Shopping Mall is located right across the street, offering a variety of retail stores, restaurants, and entertainment options. There are also several other shopping malls and eateries within walking distance, such as the Sunshine Place and the Yew Tee Point Shopping Mall.
Education
Families with school-going children will appreciate the proximity of 490d Choa Chu Kang Ave 5 to several reputable schools. These include:
- Choa Chu Kang Primary School
- Teck Whye Primary School
- West Grove Primary School
- Bukit Panjang Government High School
- Choa Chu Kang Secondary School
The Investment Potential of 490d Choa Chu Kang Ave 5
Strong Rental Demand
As mentioned earlier, the rental market for 490d Choa Chu Kang Ave 5 is strong. The development’s proximity to major amenities, transportation hubs, and educational institutions makes it an attractive option for tenants. This ensures that investors can enjoy a steady stream of rental income from their units.
Capital Appreciation Potential
The Choa Chu Kang area has experienced significant price growth in recent years. This is due to the increasing demand for housing in the area, as well as the government’s plans to develop the area into a regional hub. As a result, investors can expect to see capital appreciation on their units in the long run.
Common Mistakes to Avoid When Investing in 490d Choa Chu Kang Ave 5
Overestimating Rental Income
It’s important to be realistic about the rental income that you can expect to earn from your unit. Don’t overestimate the demand for rental units in the area, or the rental rates that you can charge.
Underestimating Maintenance Costs
Maintenance costs can be a significant expense for any property. Be sure to factor these costs into your investment budget, so that you’re not caught off guard by unexpected expenses in the future.
Selling at the Wrong Time
It’s important to time your sale correctly in order to maximize your profits. Don’t sell your unit too early, or you may not get the full value for your investment. However, don’t hold onto your unit for too long either, or you may miss out on future price growth.
Pros and Cons of Investing in 490d Choa Chu Kang Ave 5
Pros:
- Prime location with convenient access to transportation, shopping, and dining
- Strong rental demand and capital appreciation potential
- Modern design with a wide range of amenities and facilities
Cons:
- Property prices in the area are relatively high
- Maintenance costs can be significant
- The development is situated near the busy Choa Chu Kang Road, which can result in some noise pollution
Applications for 490d Choa Chu Kang Ave 5
Beyond Residential Use
While 490d Choa Chu Kang Ave 5 is primarily a residential development, there are several other potential applications for the space. These include:
- Commercial Use: The ground floor units of the development could be used for commercial purposes, such as retail stores or offices.
- Co-working Space: The common areas and facilities at 490d Choa Chu Kang Ave 5 could be utilized as a co-working space, providing a convenient and flexible workspace for professionals and entrepreneurs.
- Community Centre: The development could be converted into a community centre, providing a space for residents to gather, socialize, and participate in various activities.
Conclusion
490d Choa Chu Kang Ave 5 is a well-rounded residential development that offers a combination of convenience, space, and modern amenities. With its prime location, strong rental demand, and capital appreciation potential, it’s an attractive option for both homebuyers and investors alike. However, it’s important to be aware of the potential risks and limitations before making any investment decisions.
Tables
Table 1: Property Prices at 490d Choa Chu Kang Ave 5
| Year | Average Transaction Price for 3-Bedroom Unit |
|---|---|
| 2020 | S$680,000 |
| 2021 | S$750,000 |
Table 2: Rental Yields at 490d Choa Chu Kang Ave 5
| Year | Average Rental Yield |
|---|---|
| 2020 | 2.8% |
| 2021 | 3.0% |
Table 3: Amenities and Facilities at 490d Choa Chu Kang Ave 5
| Amenity | Description |
|---|---|
| Swimming pool | Outdoor pool with a dedicated lap pool |
| Gym | Fully-equipped fitness centre with a range of cardio and weightlifting equipment |
| Clubhouse | Function room and entertainment area available for residents to book for private events |
| Playground | Outdoor play area with a variety of equipment for children of all ages |
| BBQ area | Designated area with BBQ pits and seating for residents to enjoy outdoor dining |
| 24-hour security | Gated community with round-the-clock security patrols |
Table 4: Educational Institutions Near 490d Choa Chu Kang Ave 5
| School | Level | Distance |
|---|---|---|
| Choa Chu Kang Primary School | Primary | 0.2 km |
| Teck Whye Primary School | Primary | 0.5 km |
| West Grove Primary School | Primary | 0.6 km |
| Bukit Panjang Government High School | Secondary | 0.7 km |
| Choa Chu Kang Secondary School | Secondary | 0.8 km |
Additional Keywords
- Choa Chu Kang
- Residential development
- Property investment
- Rental market
- Amenities
