Find out the secret to Blossom's by the Park success despite cooling measures. - The Myst by CDL at 800, 802 Bukit Timah Road

Find out the secret to Blossom’s by the Park success despite cooling measures.

EL Development has succeeded with its latest project, Blossoms By The Park at Slim Barracks Rise. The 275-unit project had been subscribed 2.75 times before its launch, garnering 745 cheques over a fortnight. Boasting a take-up rate of 73%, 200 of the 275 units had been sold by 6 pm on April 29, marking the highest first-day sales in 2023. The average price of units sold was $2,423 psf.

Notably, all one- and two-bedroom units had been snapped up, except for the two-bedroom penthouse units. One-bedroom units, ranging from 549 sq ft, were priced at $1.3 million ($2,352 psf), while two-bedroom units of 678 sq ft were priced at $1.5 million ($2,211 psf). “The two-bedroom and two-bedroom-plus-study units were the favourite among buyers,” reveals Marcus Chu, CEO of ERA Realty Network.

Over 70% of the three-bedroom and three-bedroom dual-key units were sold for $2.3 million ($2,183 psf) and $2.1 million ($2,276 psf), respectively. About a third of the four-bedroom units were purchased for $2.9 million ($2,243 psf).

Furthermore, the strong sales exceeded the developer’s expectations, especially given that they came just two days after the government’s latest property cooling measures took effect on April 27. “Before the property cooling measures, I was pretty optimistic about the expressions of interest,” comments Lim Yew Soon, managing director of EL Development. Nevertheless, Lim had initially considered delaying the project by a week but chose to proceed with the launch as scheduled. He opines that any delay would have made no difference since he felt the government would not repeal the cooling measures.

The project’s success speaks to the resilience of the Singaporean real estate market. Despite recent regulatory measures, the demand for residential properties remains strong, particularly among Singaporean citizens and Permanent Residents (PRs). Lim reports these two groups account for 96% of the buyers, with foreigners making up the remaining 4%. The Myst’s location is at Upper Bukit Timah Road.

In conclusion, the impressive sales of Blossoms By The Park cannot be understated. Experts such as Ismail Gafoor, CEO of PropNex, laud the project’s achievement, stating that “I had expected more than 50% sales, but close to 75% is a positive thing”. EL Development has succeeded in winning investors’ trust and satisfaction.

CEO of Huttons Asia, Mark Yip, said, “The cooling measures enacted were aimed at a small group of buyers, and first-time buyers were not affected.” Yip believes that excellent sales figures provide much-needed confidence for those deliberating their purchase and waiting for ideal financial circumstances to commit.

Blossoms By The Park’s strong sales results are a testament to investors’ belief in the attractiveness of the Singaporean real estate market, according to Lee Liat Yeang, senior partner of Dentons Rodyk real estate practice group. Yeang affirms that the Singapore government had to impose the highest additional buyer’s stamp duty [ABSD] to deter foreign buyers, underscoring the market’s desirability. Even Singaporean and PR investors buying their second and subsequent properties face elevated ABSD. The consequent rise in ABSD has spurred individuals to sell their current property before committing to a new purchase, according to Dentons’ Lee. In the meantime, individuals will rent before taking their time to purchase their next home. Foreigners waiting for their PR approval are also expected to rent. Therefore, many investors prognosticate that the rental market will continue to grow.

The healthy sales response attests to the scarcity of new private residential developments around the one-north precinct, says PropNex’s Gafoor. Given that the last project launch in the area, the 165-unit One-North Eden, is sold out, this is hardly surprising. Of the two sites designated for residential homes around Biopolis and Fusionopolis, Blossoms By The Park is one, while the other is the upcoming 142-unit The Hill @ One-North Homes. Huttons’ Yip claims that both sites have significant investment appeal. “The rents at One North are estimated to be 20% higher than nearby non-landed projects like Dover Parkview and Heritage View and are likely to outperform given the limited supply,” he says.

One-north is home to around 400 multinational companies and 15 public research institutions, and higher learning institutions such as Insead and Essec Business School. There are also corporate campuses like Unilever’s global campus, Unilever Campus @ one-north, and approximately 50,000 knowledge workers near the National University Hospital (NUH), the National University of Singapore (NUS), and Science Parks 1 and 2. According to ERA’s Chu, “Both owner-occupiers, as well as future tenants, would like to live within a short commute to work.”

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The Myst condo logo
Over the past few years, CDL has made a concerted effort to build up its presence in the property market. Its residential portfolio of projects ranges from high-end luxury developments to affordable housing –– it has been well-received by buyers/clients who recognise its high-quality standards and craftsmanship.
With an extensive network of global offices across Asia, Europe, North America, and Australasia, CDL can source strategic land resources worldwide as part of its growth strategy.
Haus on Handy by CDL
Boulevard 88 by CDL
Boulevard 88 by CDL
Tembusu Grand by CDL
Tembusu Grand by CDL
Canninghill Piers by CDL
Canninghill Piers by CDL
The company’s commitment to sustainability is also apparent in its track record. All their developments are designed to be environmentally conscious, with green features such as solar panels and rainwater harvesting systems incorporated into building designs.
CDL is also dedicated to delivering premium lifestyle experiences through its amenities and services offered at each development site, such as concierge service, clubhouse facilities, and landscaped gardens for residents’ enjoyment.
From these accolades and initiatives, it is clear that CDL is an experienced developer renowned for consistently delivering quality projects on time –– with a dedication to creating sustainable communities that enhance lifestyles for all stakeholders involved.
The Myst condo logo
Within the compound, there are exclusive facilities such as swimming pools, tennis courts, and fitness centres, as well as spas for those seeking even more indulgence.
The Myst Lap Pool
The Myst's lap pool. One of the many facilities residents can enjoy.
Residents can also take advantage of nearby restaurants, shopping outlets, and entertainment options – ensuring there’s never a lack of things to do or places to go.
Best of all, the surrounding natural environment creates peace and serenity regardless of activity level.
The Myst at Bukit Timah Road provides its residents with an exceptional standard of living where they can enjoy the best of both worlds – modern comforts and seclusion from every day worries.
With its proximity to key attractions and amenities, it is no wonder this enclave is so popular among homeowners looking for a place to call home in Singapore.
The Myst condo logo

About The Myst

The Myst boasts only the highest quality of ambient finishes within its walls, leading guests and residents alike to feel spacey, light, and relaxed, ideal for unwinding after a hard day on the job.
Perfect for nature lovers, it has spectacular views of green landscapes that stretch as far as the eye can see.
Gleaming with opulence and class, it begs to be experienced first-hand by everyone seeking to reconnect with nature while taking advantage of all the comforts a home should provide.
The Myst at Bukit Timah Road is a must-visit destination if you’re looking for a place to unwind in comfort and rejoice in luxury!
The Myst Grand Plaza
The Myst Grand Plaza
The Myst, located at 800 & 802 Bukit Timah Road is an excellent location for those looking for the perfect balance between convenience and comfort.
Situated in Singapore’s District 23, it is close to some of the city’s most popular attractions, such as Orchard Road, Marina Bay Sands, and Sentosa.
Orchard ION
Orchard Road is 25 mins drive from The Myst
This exciting neighbourhood also has plenty to offer for shopping, dining, and entertainment –– for residents of The Myst at Bukit Timah Road. Numerous benefits make living here a great choice.
Connectivity and transportation at The Myst are excellent, providing residents with quick and convenient access to the city.
From Cashew MRT station, residents can take the Downtown Line (DTL) to reach many attractions in Singapore, such as Beauty World, Botanic Gardens, Bayfront, or Little India.
Cashew MRT Entrance
Cashew MRT is the nearest MRT from The Myst
The Downtown line is an essential public transport artery in Singapore, providing efficient connections between residential areas and commercial districts. at Bukit Timah Road. Numerous benefits make living here a great choice.
Downtown Line MRT
Downtown Line MRT Map
The Bukit Timah Expressway (BKE) provides easy access for drivers heading toward the eastern region of Singapore. It takes only a 6-minute drive from The Myst to get onto the BKE, which then connects to the Pan Island Expressway (PIE).
The PIE gives motorists access to all parts of Singapore, including Changi Airport, making it easier for those who need to travel frequently for work or leisure.
For those who prefer slower modes of transport, such as walking or cycling, cycling paths are available around The Myst – which are connected to other pathways throughout Singapore.
These paths provide an excellent way for residents to explore the city at their own pace and discover new sights.

Shopping Centres near The Myst

Shopping is an excellent pastime for many, and The Myst is surrounded by several shopping malls offering various retail options.
Hillion Mall is one of the closest shopping hubs to The Myst, just a 4-minute drive away. It provides a great selection of stores such as REFASH, iORA, Cow Play Cow Moo, and Best Denki. Furthermore, the mall has plenty of eateries for dining options after shopping.
Hillion Mall Night
Hillion Mall is 4 mins drive from The Myst
HillV2 is another nearby mall only 5 minutes away from The Myst. This mall boasts many unique retail stores, lifestyle shops, and an extensive food court that is ideal if you’re looking to grab a bite before heading back home.
You can find clothing outlets like Zara and Uniqlo here and electronics stores such as Courts Megastore and Challenger.
Junction 10 is located 6 minutes from The Myst and features plenty of shops selling furniture, fashion wear, toys, and much more. There are also several movie theatres for entertainment, so you can take some time off your daily routine to enjoy a good movie or two with your family or friends.
Finally, Bukit Panjang Plaza, which is 6 minutes away from The Myst too, provides an array of retailers, which include department stores like NTUC Fairprice Xtra, fashion outlets such as Giordano and FOS, beauty salons like Heirloom and beauty products store Watsons.
Bukit Panjang Plaza
Bukit Panjang Plaza is 6 mins drive from The Myst
Bukit Panjang Plaza also houses many restaurants offering local cuisines for its visitors to enjoy. With so many malls near The Myst apartment complex, residents will always have convenient shopping options!

Nature Spots Near The Myst

Living in The Myst provides residents easy access to several nature spots, making it a convenient destination for anyone looking to commune with nature.
Bukit Timah Nature Reserve is located right next door, and its 163.63 hectares offer many opportunities for exploration.
The Reserve is a haven for wildlife with its 800+ flowering plants, 300+ bird species, and various reptiles, amphibians, and mammals.
Visitors can enjoy hikes along the trails or a picnic in one designated area; there is also a visitors’ centre where more information about the Reserve and its inhabitants can be found.
Bukit Timah Nature Reserve
Enjoy a relaxing walk at nearby Bukit Timah Nature Reserve
Right across from The Myst is another popular spot: the Rail Corridor. This once-railway line has been converted into a multi-use trail for cyclists, hikers, and nature lovers who want to observe birds or admire wildflowers growing along the tracks.
Apart from these two attractions, residents will also be close to other parks, such as MacRitchie Reservoir Park, Bukit Batok Nature Park, and Dairy Farm Nature Park – all providing further opportunities to connect with nature.

Schools near The Myst

The Myst is conveniently located near several schools, offering parents a wide range of educational opportunities for their children.
Assumption English School is just two minutes away, while Bukit Panjang Primary School and CHIJ Our Lady Queen of Peace are just three minutes away.
On the other hand, Greenridge Secondary School is five minutes away, and Zhenghua Primary School is only seven minutes away.
The nearby schools offer excellent quality education in various fields and disciplines. Further, the nearby primary schools provide high-quality academic programs –– committed to developing holistic individuals equipped with the knowledge and skills necessary for success in life.

Dining Options near The Myst

The Myst residents enjoy having a wide variety of convenient options for finding an eatery. With The Rail Mall, HillV2, and Bukit Panjang Plaza all within a 4-minute to 7-minute drive away, residents can easily find restaurants that cater to their taste buds.
At The Rail Mall, popular eateries include Acqua e Farina, Springleaf Prata, Green on Earth, and BLooiE’s Roadhouse – perfect family dinners.
HillV2 is home to IO Italian Osteria, Cedele, Starbucks, Tandoori Culture, and Spruce – ideal for a luxurious dining experience. For the more budget-conscious diners, Bukit Panjang Plaza has an array of affordable dining options, such as McDonald’s and Subway.
Those with adventurous palettes seeking local dishes only need to take a short drive to the nearby Bukit Panjang Hawker Centre and Market, where dishes like Chicken Rice and Fishball Noodles are readily available.
In addition to these food centres, there are also many independent eateries within the vicinity of The Myst that offer delectable cuisines from around the world.