*This article was written in February 2023 and does not reflect data and market conditions beyond.
Parc Rosewood is a 99-year leasehold condominium that offers residents a resort-style living experience in the heart of District 25. Located in an area surrounded by 99-year leasehold condominiums, Parc Rosewood stands out as it is sitting on a landsize of almost 300,000 sqft – that is almost the size of 4 football fields!
Furthermore, with only 5 storeys per block and sitting on such a big plot of land, it contributes to the spacious resort vibes of the development and offers an unparalleled living experience. Not only does it boast spacious units with breathtaking views of the surrounding area, Parc Rosewood is also well-connected to the Woodlands Regional Centre and an array of amenities.
Location Analysis
Parc Rosewood is a 15-minute walk or two bus stops away from the Woodlands Regional Centre which consists of Woodlands MRT station and bus interchange, and Causeway Point. The nearest MRT is Woodlands South on the Thomson-East Coast Line (TEL), located 800m away. This means that those who commute will have convenient access to the North-South Line (NSL) and TEL, which both connect to Orchard and the city.
Woodlands Bus Interchange also has buses that go to Woodlands Checkpoint, which is another advantage for those who like to frequent Malaysia via public transport. Speaking of this, given the proximity of Woodlands Checkpoint, there will likely be high rental demand from Malaysians working in Singapore.
Drivers will have easy access to the Seletar Expressway (SLE), which links to the Bukit Timah Expressway (BKE) and Central Expressway (CTE), bringing you to Orchard or the city area in 20 to 25 minutes.
In terms of amenities, there are a number of malls scattered around the vicinity of Parc Rosewood, the nearest being The Woodgrove. There is also Vista Point towards the east, and Woodlands Square and Causeway Point towards the north. This offers residents a wide variety of shopping, dining, and entertainment options.
For parents with young children, there are four primary schools within a 1 km radius of Parc Rosewood – Fuchun Primary, Si Ling Primary, Woodgrove Primary, and Innova Primary. Singapore Sports School is also right across the street. For international students, Singapore American School is also within walking distance, which will contribute to the rental demand from international tenants.
Site Plan Analysis
The site of Parc Rosewood takes on five rows of three residential blocks in a linear profile to maximise the number of units with internal-facing pool views. With such a massive plot of land, the developers have designed the site with a total of seven swimming pools in between each row of residential blocks. There are a total of 15 residential blocks standing at five storeys each, with 18 duplex penthouse units.
Most of the units here are internal facing towards the pools, as the developer intended. The only two external facing stacks are at the two ends of the boundary, facing either the north or the south. The stacks facing the south will likely experience road noise from the SLE, but the developers have designed a significant setback distance (including some condo facilities like the tennis court) to reduce the noise.
Among the 62 facilities listed by the developers, the ones that stood out were the 50m lap pool with aqua beds, the hammock bay, and the spa pool with jacuzzi. These facilities add to the resort experience.
Price Analysis
The price trend of Parc Rosewood appears sensitive to each round of cooling measures introduced by the government. In the July 2018 cooling measures, ABSD rates went up by 5% and LTV limits were reduced by 5%. Transaction volume dropped immediately in Q4 2018, which resulted in a spike in average prices.
The huge dip in prices towards Q4 2019 was likely a result of the COVID-19 pandemic, with transactions dropping to zero in Q2 2020 as well. However, both prices and transaction volume bounced back strong, with transaction volume peaking in Q3 2021 – recording almost 30 transactions.
When another round of cooling measures hit in December 2021, which saw ABSD rates increasing again, prices dipped slightly in Q1 2022 but transaction volume remained strong. But the impact of the cooling measures showed itself in Q3 2022 when transaction volume dropped by almost half the previous quarter.
While the latest round of cooling measures in September 2022 was mainly targeted at the HDB market, a similar trend was observed – transaction volume dipped while the average price climbed slightly. This could be due to sellers becoming more hesitant to downgrade given the new 15 months wait-out period that was introduced. It could also be attributed to the lull period towards the end of the year.
Looking at the condos in the immediate vicinity, the nearest would be Rosewood Suites which is sitting right north of Parc Rosewood. Completed in 2011, Rosewood Suites is roughly 3 years older than Parc Rosewood and is currently transacting at just over $1,000 psf. Although it has recorded a growth rate of 24% between Q4 2017 and Q4 2022, there was some volatility in the price movement as well. This is likely similar to Parc Rosewood, where the price movement was sensitive to the cooling measures introduced by the government.
Further up north is Casablanca, which is an older development completed in 2005. Over the past five years from Q4 2017 to Q4 2022, Casablanca has performed consistently, recording a growth rate of 26%. Currently transacting at just under $1,000 psf, Casablanca has one of the most affordable price quantum in the vicinity.
To the northwest is Woodhaven, the newest project in the vicinity. It was completed in 2015 and is currently transacting at a similar price quantum as Parc Rosewood. While it may be natural to gravitate towards the newer development if two of them are transacting at around the same price, the larger landsize of Parc Rosewood would mean more facilities and more spacious units, which may appeal to homebuyers who prioritise space.
MOAT Analysis
In this section, we evaluate Parc Rosewood using our MOAT Analysis. The analysis assesses properties using ten specific criteria, providing a thorough and unbiased assessment of the property and to determine its attractiveness to homebuyers in Singapore. If you’re interested in learning more about our MOAT Analysis, you can refer to this article.
Looking at the MOAT profiles, most of them have high scores of over 70%. MOAT scores of over 70% typically indicate that the projects have high growth potential.
Parc Rosewood has a high MOAT score of 74%. Taking a look at the strengths, it scores a perfect 5 out of 5 for Parent’s Attraction Effect, Rental Demand, Quantum Effect, and Exit Audience.
With four primary schools within a 1 km radius, parents will have plenty of options to choose from. Furthermore, with Singapore Sports School and Singapore American School around the corner, the educational institutes in the vicinity cater to the needs of both local and foreign buyers. The presence of an international school within walking distance coupled with the proximity to Woodlands Checkpoint will also boost the rental demand for Parc Rosewood.
Coming to the point of Quantum Effect, a high score means that the project is still relatively affordable for the average Singaporean household. This would mean that owners and potential buyers are in a good position for rental play.
Next, more BTO projects are still coming up in Woodlands, including the August 2022 BTO project right next to Woodlands South MRT station. This forms a healthy pool of potential HDB upgraders and exit audience in the area. Coupled with the number of primary schools, it increases the opportunity for future exit as the development will remain popular amongst parents gunning for these primary school options.
Some points to note, however, for prospective buyers and investors are the relatively lower scores on Disparity Effect (District and Region) and MRT Effect. A low disparity score translates to the presence of more affordable developments within the district and region. As for the proximity to an MRT station, the other developments are indeed located slightly nearer to the MRT station than Parc Rosewood. However, the difference is rather marginal and will not have a big impact especially on drivers who do not rely on public transport to get around.
Unit Distribution
Parc Rosewood offers 1-Bedroom to 5-Bedroom types spread across 15 residential blocks. 1-Bedroom types (54%, 376 units) make up more than half of the unit offerings, and 4-Bedroom and 5-Bedroom types are only available as penthouse units.
What’s interesting about Parc Rosewood is that each residential block has units with their own unique floor plan layouts for each unit type. For example, block 71 alone has 25 different floor plans for its unit offerings, with slight variations to the layout configuration.
1-Bedroom to 3-Bedroom types can be found in almost every block, but 4-Bedroom penthouses can only be found in blocks 73, 81, 83, 91, and 97. Likewise, 5-Bedroom penthouses will not be available at every block and can only be found in blocks 73, 79, 81, 83, 85, 87, 91, and 97.
1-Bedroom Type
The above layout is the Type 71 A variation, which represents the floor plan for block 71 stack 01. It is the standard layout that stands at 431 sqft, with the other layouts being variations of this floor plan (e.g mirror image, configuration or orientation of foyer and rooms, etc). There are also variations with an additional Private Enclosed Space (PES) for the ground floor units.
What we like about this layout is how the living room and bedroom are back to back. This opens up the option of installing a swivel TV setup, which allows one TV to be used for both the living room and the bedroom depending on the mood and occasion.
This layout also includes a small study area next to the household shelter which is nicely tucked at one corner of the unit. The kitchenette and dining area are also thoughtfully placed to make use of the elongated layout.
2-Bedroom Type
The above layout is the Type 79 A variation, which is the standard layout for block 79 stack 44. Other variations include slight changes in the orientation, penthouse, and ground floor unit with PES.
Again, the living room and master bedroom being back to back gives owners the flexibility to install a swivel TV that can be shared between the two areas in the unit. We also like that the household shelter is tucked behind the kitchenette, which means it will not get in the way of renovations.
On the other hand, the study that is placed outside the common bedroom might reduce the amount of walkway space leading from the foyer and kitchenette to the living area. Most of the 2-Bedders also do not come with a master bathroom, which means that occupants of both bedrooms have to share one common bathroom. This might make it more challenging to rent out the rooms individually to different tenants, unless the whole unit is rented out.
3-Bedroom Type
The above layout is the Type 79 E variation, which is the standard layout for block 79 stack 48 standing at 829 sqft. The 3-Bedders in Parc Rosewood have the biggest differential in terms of size, ranging from 829 sqft to 1,916 sqft.
Most of the 3-Bedders here feature the dumbbell layout, with the two common bedrooms and the master bedroom being on the opposite sides and the living/dining area in the middle of the unit. This offers some privacy, which is especially important if the rooms are going to be rented out.
The household shelter is tucked nicely behind the kitchenette, offering some storage space for kitchen supplies. We also like that the common bathroom beside the foyer, which offers easy access for guests when hosting.
With the absence of a yard area for laundry, the developers have made up for it by expanding the balcony to run the length of the living room and master bedroom.
4-Bedroom (Penthouse)
The 4-Bedders here only come with the duplex penthouse variation, with only one size available. There are only five of such units in the whole development.
Standing at 1,787 sqft, the lower level is where you will find the living and dining area, kitchenette, household shelter, and the common bedrooms and bathroom. There are also two balconies – one in the living room and one in bedroom 3. The stairwell next to the household shelter leads to the master bedroom on the upper level, which opens up to an open roof terrace with a jacuzzi and outdoor shower.
The roof terrace, which is the main feature and highlight of the penthouse units here, is perfect for families that enjoy hosting guests. The huge space can be fitted with dining tables and chairs, and even a barbecue pavilion hut for your hosting needs.
5-Bedroom (Penthouse)
The smallest layout of the 5-Bedroom penthouse stands at 2,250 sqft, almost 500 sqft bigger than a 4-Bedroom penthouse unit. There are only 15 of such units in the whole development.
On top of an additional bedroom on the lower level, the 5-Bedroom penthouse also comes with a study in the living room and a single balcony that spans the length of the living room and two common bedrooms. The kitchen is also enclosed instead of an open-concept kitchenette like the other unit types.
The household shelter is placed in the middle of the unit, with the stairwell leading up to the master bedroom right next to it. On the upper level, we also get a slightly bigger open roof terrace compared to the 4-Bedroom penthouse.
Future Growth Potential
The higher marginal buyer’s stamp duty rates announced during the Budget speech on 14 Feb is unlikely to have a big impact on the units and transactions here since the revision is targeted at higher-value properties.
Since 1-Bedroom types make up more than half of the unit offerings here at Parc Rosewood, it is apparent that it is targeted at the investor demographic, which plays well given the rental demand of this development.
With more BTO sites coming up in the vicinity, including the August 2022 BTO project right next to Woodlands South MRT station, fresh batches of potential HDB upgraders will be injected into the area. This will form a healthy pool of exit audience, something to take note of for investors who are planning their exit strategy.
In Summary
Parc Rosewood is a relatively new 99-year leasehold development located in between Woodlands MRT and Woodlands South MRT station. The resort-style development comprises 15 blocks of five storeys each, which helps to create a sense of openness and space. This is a departure from the trend in Singapore towards higher-density developments, which often consist of towering blocks of flats.
Overall, Parc Rosewood is a unique and attractive development that stands out in the Woodlands area. Its large landsize, low-rise blocks, and extensive facilities make it a desirable place to live for families, young couples, and individuals who appreciate spacious and modern living.
Let’s get in touch
Are you interested in buying, selling, or renting a unit at Parc Rosewood, but are unsure how it fits into your property portfolio? We are here to help!
At PropertyLimBrothers, we specialise in providing tailored advice and recommendations to clients looking to make informed decisions about their property investments. Whether you’re a first-time homebuyer or a seasoned property investor, we can help you navigate the complexities of the Singapore real estate market.
Our team has extensive knowledge of Parc Rosewood and can provide you with a detailed analysis of the development, including its current market value, rental potential, and future growth prospects. We can also offer you a second opinion on any property-related matters you may be uncertain about.
So, if you’re considering buying, selling, or renting a unit at Parc Rosewood, do not hesitate to contact us. We would be more than happy to assist you in making an informed decision about your property investment.
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