Salary.sg Forums - Parkwood Collection Cluster Homes

Parkwood Collection is a new cluster home project at Hougang, in the Realty Park area. This development will be within walking distance of Hougang MRT station, which makes it more convenient than Belgravia Green or Nim Collection or Luxus Hills.

On the other hand, Belgravia Green and Luxus Hills are freehold, while Nim and Parkwood Collection are 99 year leasehold properties.

Some buyers don't like 99 year leasehold landed homes, mainly because of not knowing what would happen at the end of the lease. But in the case of Parkwood Collection, the saving grace is that it is strata landed, which means that, like condominiums, the land can be sold collectively to a developer so long as at least 80% of the owners approve the sale. In say, 25 to 35 years time when values would have risen sufficiently to make it profitable to do so. And land that is within walking distance of an MRT station will always be of value.