The Poiz Residence Condo . A Mixed Development
The Poiz Residence is a mixed development. But because it incorporates a sheltered link to Potong Pasir MRT station, it really acts like an integrated development, with all the advantages of one.
Residences in integrated developments have always sold well, due to their sheer convenience. Notable examples of recent integrated developments that have launched to enthusiastic sales include North Park Residences @ Yishun MRT station, Bedok Residences @ Bedok MRT station (overnight queues), and Watertown @ Punggol MRT Station.
And upcoming ones include Piccadilly Grand at Farrer Park MRT station just a few stops up the same MRT line, or Lentor Modern at Lentor MRT station on the Thomson-East Coast Line. And even Sceneca Residence at Sceneca Square linked to Tanah Merah MRT station, by the same developer for Poiz, MCC Land.
And similarly to Poiz Residence, Lentor Mansion is linked via a sheltered walkway to an MRT station. However in the case of Lentor Mansion, it lies in the Lentor Hills Estate, in the neighbourhood of the low-rise landed houses of Lentor Estate. This allows for more unblocked views, and a much quieter environment. But Lentor Mansion is an OCR (Outside Central Region) project, while Poiz Residence has the advantage of being in the RCR (Rest of Central Region) zone.
The location of the Poiz Residence is much more central than those listed above, as it is just 10 minutes drive to the city, and to 3 major expressways. It is also in a partly private, partly low-rise residential area. Expect this project to prove even more popular than those above. As it is, there is a lot of advance interest on the ground.
The Poiz Residence . Pros & Cons of Mixed Developments
Integrated developments are centred on the ‘Live, Work, Play’ philosophy, much like a one-stop shop.
- Convenience: The best part about having a home with a shopping mall built in, is that you don’t need to travel to get your meals, or your grocery shopping done. No need to hang onto MRT / bus straps, laden with shopping bags, or swelter under the hot sun, or wade through puddles in a downpour.
- Cost / Time Saving: Saves too on bus / MRT fares, or fuel costs, or hunting for parking. No need to fight traffic, or sit in jams either. Feeling peckish, or short of an item? Just nip downstairs.
- As an Investment: Condos in integrated developments often fetch better rents, compared to their neighbours. Mainly because of the factors above. Especially since many tenants are professionals with very heavy work schedules, who need the convenience and time savings.
You can also fetch a better price when you sell, and there is no lack of buyers either. There will always be people willing to pay for the convenience.
- Bustling Environment: If you don’t like crowds or a busy, bustling neighbourhood, then you need to look elsewhere. Having a shopping centre downstairs does not make for a very tranquil environment.
- Higher Price: Integrated developments tend to command a premium in price. This is due to the convenience factor, as well as the proximity-to-mrt factor. After all, projects next door to MRT stations alone (without the shopping centre convenience thrown in) already cost 15 to 20% more.
Buyers of mixed developments therefore tend to belong to a higher paid, or more affluent demographic, and are often professionals looking for this lifestyle, who intend to stay in it themselves. This will be the case especially for Poiz Residence, as it is also on the city fringe, at Potong Pasir MRT Station.
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