Is Penrose subsale 2-bed 1-bath at $1.28M a good buy

To determine if a subsale of a 2-bedroom, 1-bathroom unit at Penrose for $1.28 million is a good buy, several factors need to be considered:

Location and Connectivity

Penrose is located at Sims Drive in District 14, which is on the city fringe and offers excellent connectivity. It is a 5-6 minute walk to Aljunied MRT Station and close to major expressways like the Pan Island Expressway (PIE) and Kallang-Paya Lebar Expressway (KPE). This proximity to public transportation and major roads is a significant advantage.

Amenities and Facilities

The development boasts a range of amenities, including a childcare centre, clubhouse, spa, BBQ area, sun-deck, 50m long lap swimming pool, tennis court, fitness centre, and function room. These facilities can enhance the quality of life for residents.

Unit Size and Pricing

The unit sizes at Penrose range from 474 to 1,399 square feet. For a 2-bedroom unit, the typical size would be around 797 square feet. The price of $1.28 million translates to approximately $1,608 per square foot, which is within the range of prices observed for similar units in the area.

Market Context

Penrose is a 99-year leasehold development, and its pricing is influenced by its location, amenities, and the broader market conditions. Given its proximity to schools, shopping malls like KINEX Mall and Paya Lebar Square, and the upcoming developments in the Paya Lebar area, the potential for capital appreciation is promising.

Comparison with New Sales

As of the latest updates, Penrose was fully sold out during its initial launch, and subsale prices can sometimes be more competitive. However, it is crucial to compare this price with recent transactions in the area and similar developments to ensure it is reasonable.

In summary, the decision to buy a subsale 2-bedroom, 1-bathroom unit at Penrose for $1.28 million depends on your individual needs and financial situation. Given the location, amenities, and market context, it could be a good buy if it aligns with your budget and if the price is competitive compared to other similar units in the area. It would be wise to consult with a real estate agent or conduct further research to ensure the price is fair and reflects the current market conditions.