Norwood Grand! Finally after 12 years!

Alright, let’s dive into Norwood Grand, the latest buzz in Singapore's property scene for 2024! Developed by City Developments Limited (CDL), this new kid on the block in Woodlands is grabbing attention for a few good reasons. Whether you’re planning to live there or looking for a juicy investment.

What’s the Big Deal About Norwood Grand?

• Location, Location, Location!

  • Norwood Grand is nestled at Champions Way, just a hop, skip, and a jump (or a few minutes' walk) from Woodlands South MRT. So, getting to the CBD or anywhere else is pretty smooth.

  • Woodlands Regional Centre is also nearby, which is shaping up to be a major hub outside the usual city hotspots. Think offices, retail therapy, and cool hangout spots all in one.

• Unit Variety for Everyone

  • Got options, people! From 1-bedroom-plus-study units (495 sqft) for singles and couples who want a cozy setup, to 4-bedroom premium homes (up to 1,335 sqft) for families who need more space. There are a total of 348 units spread over four blocks, each 11 storeys high.

• Amenities That Score Big

  • We’re talking a 50m lap pool for those morning swims, a gym to work off that nasi lemak, BBQ pavilions for the weekend grill masters, and even a family lounge. Plus, there’s a treehouse playground, making it pretty kid-friendly!

Own Stayers Perspective: Is It the Right Fit?

So, you’re considering Norwood Grand for your forever home. Here’s what you should keep in mind:

This place is family-friendly, with a bunch of great facilities—think a 50m lap pool, gym, cabanas, and gardens—but it's still in Woodlands, and if you’re working in the CBD, brace yourself for a longer commute. Even with the Thomson-East Coast Line (TEL), you're looking at 25-35 minutes to get into the city. If you're cool with that, the trade-off is you get way more space and facilities for your money compared to more central locations.

Schools Nearby:

For families, the schools nearby are a huge win:

Within 1km:

- Innova Primary School

- Woodgrove Primary School

- Si Ling Primary School

- Woodlands Primary School

Within 1-2km:

- Admiralty Primary School

- Fuchun Primary School

That means you’ve got solid schooling options nearby, and that’s always a bonus when you want to avoid the morning rush.

If you’re looking for a forever home with all the modern conveniences and don’t mind Woodlands' suburban vibes, Norwood Grand is solid. But if you need quick city access, this might not be for you. The area is evolving, but it’s not there yet.

Investors Perspective: Smart Buy or Not?

Let’s cut to the chase: Woodlands isn't exactly the hottest place for investors right now, but that’s why there’s room for growth. The future looks pretty bright, with the Woodlands Regional Centre planned to be a major hub in the north, and the upcoming RTS Link to Johor Bahru will boost cross-border connectivity.

The downside? Investors might have to play the long game here. Woodlands is still a bit of a “wait and see” area. Rental demand might not be as high right now, but once the RTS and regional centre are fully up and running, that could change. If you're looking for quick gains, though, this might not be the best pick.

Growth Drivers:

- Woodlands Regional Centre: This place is going to be the heart of the northern economic hub, so expect demand to pick up once businesses start setting up shop.

- RTS Link: If you’ve got tenants or buyers who commute to Johor Bahru, this could be a big deal once the link is up in 2026. It’s a future-forward investment, but you’ll need patience.

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Price Breakdown

Here’s where the rubber meets the road. Norwood Grand is priced to sell, but it’s not exactly a steal:

- 1-Bedroom + Study: Starting at $988,000 (about $1,996 psf)

- 2-Bedroom: From $1.238 million ($1,984 psf)

- 3-Bedroom Deluxe: From $1.698 million ($1,923 psf)

- 4-Bedroom Deluxe + Study: From $2.238 million ($1,908 psf)

The land price of $904 psf ppr means CDL got this plot for a decent price, which allows them to keep prices lower compared to some newer OCR launches, but don’t be fooled into thinking you’re getting a massive discount.

Comparing to the Region and Nearby Projects

- Other OCR Projects: Norwood Grand is slightly more affordable than other OCR (Outside Central Region) launches like The Myst or Lentor Modern, which are going for over $2,000 psf.

- Nearby Resale Condos: Resale condos like Casablanca and Rosewood are priced around $1,100 to $1,200 psf.

Norwood Grand comes out to a 30-40% premium, which is expected for a fresh lease and brand-new facilities.

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Is It Overpriced?

Look, it’s not cheap, but considering the future developments in Woodlands, the pricing makes sense. However, if you’re expecting immediate capital gains, pump the brakes. This is a long-term investment, and you’ll be banking on Woodlands’ growth to justify the price you’re paying today.

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Growth Potential: Room for Improvement

Growth in Woodlands is a bit like waiting for that MRT that’s always a few minutes late—it’s coming, but you’ll need patience. Once the Woodlands Regional Centre is in full swing and the RTS link starts pulling in cross-border workers, there’s definite potential. For now, though, you might see steady but not explosive growth.

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Pros and Cons:

Pros:

- Affordable by OCR standards: At under $2,000 psf, it's cheaper than many other new launches.

- Family-Friendly: Great schools, spacious units, and lots of amenities.

- Potential for Growth: With future infrastructure projects, Woodlands has growth potential, but it's a long-term play.

Cons:

- Commute: If you work in the CBD or more central areas, you’ll have a bit of a trek every day.

- Unproven Market: Woodlands is still developing. You’re betting on future growth, not immediate returns.

- Premium Pricing: Compared to nearby resale units, the premium is hefty for now, but you’re paying for the fresh lease and facilities.

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Final Thoughts:

For Own-Stayers: Norwood Grand is a great option if you love the family vibes and suburban tranquility of Woodlands. The schools and facilities make it a solid choice, but the longer commute might be a turn-off if you need to be closer to the city.

For Investors: You’re betting on Woodlands’ future growth. The upside is there, but you’ll need patience as the area develops. If you’re looking for quick capital appreciation or fast rental income, you might want to look elsewhere, but if you're in it for the long game, Norwood Grand could pay off.

That’s the no-frills, straight-up take on Norwood Grand—a decent shot for the right buyer, but it’s not for everyone.

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