Luxury Apartments – Luxury Apartments – Luxury Apartments – The last tranche of ‘en-bloc fever’ homes from 2017: Here’s how they’ve performed so far, Money News | Fintech Zoom | Fintech Zoom
Luxury Apartments – Luxury Apartments – The last tranche of ‘en-bloc fever’ homes from 2017: Here’s how they’ve performed so far, Money News | Fintech Zoom
Luxury Apartments – The last tranche of ‘en-bloc fever’ homes from 2017: Here’s how they’ve performed so far, Money News
|Project||Former Site||En Bloc price||Take-up Rate|
|35 Gilstead*||Casa Contendere||$72 million||44.30 per cent|
|77 @ East Coast*||Lodge 77||$29 million||34.10 per cent|
|Affinity at Serangoon||Serangoon Ville||$499 million||83.60 per cent|
|Amber Park||Amber Park||$906.7 million||42.60 per cent|
|Coastline Residences||Parkway Mansion||$146.99 million||46.50 per cent|
|Dunearn 386*||Dunearn Court||$36.3 million||48.60 per cent|
|Fyve Derbyshire||Derby Court||$73.88 million||66.20 per cent|
|Jervois Prive||Jervois Green||$52.9 million||–|
|Juniper Hill||Crystal Tower||$180.7 million||12.20 per cent|
|Mayfair Gardens||Mayfair Gardens||$311 million||80.90 per cent|
|Meyer House*||Nanak Mansions||$201.1 million||17.90 per cent|
|One Meyer*||The Albraca||$69.12 million||45.50 per cent|
|Parc Esta||Eunosville||$766 million||98.80 per cent|
|Parc Komo||Changi Garden||$248.8 million||50 per cent|
|Parkwood Residences*||Toho Green||$1.4 million per unit||5.60 per cent|
|Petit Jervois*||Jervois Gardens||$72 million||10.90 per cent|
|Riverfront Residences||Rio Casa||$575 million||93.30 per cent|
|RoyalGreen||Royalville||$477.94 million||31.20 per cent|
|The Addition||Apartment 8||$21.53 million||Sold Out|
|The Florences Residences||Florence Regency||$629 million||68.60 per cent|
|The Gazania||Sun Rosier||$271 million||11.60 per cent|
|The Lilium||How Sun Park||$81.09 million||1.30 per cent|
|The Linq @ Beauty World||Goh & Goh Building||$101.5 million||Sold Out|
|The Verandah Residences||Lotus at Pasir Panjang||$121 million||Sold Out|
|Treasure at Tampines||Tampines Court||$970 million||77.80 per cent|
Excluding boutique developments*, the following projects are still less than 50 per cent sold:
These are the ones to watch as ABSD deadlines creep closer, or if you just want a shorter wait-time when you’re ready to upgrade:
- Amber Park
- Coastline Residences
- Juniper Hill
- Parc Komo
*These developments have 70 or fewer units. For details on these developments, contact us for a current update.
1. Amber Park
Location: Amber Gardens (District 15)
Developer: Aquarius Properties Pte. Ltd.
Expected TOP: 2023
Take-up rate: 42.6per cent
Number of units: 592
Square Foot Research indicated a median developer price of $2,369 psf. The lowest recent price was $2,378 psf, and the highest was $2,604 psf.
Amber Park was one of the best known Katong / Marine Parade area condos of its day, so it’s unsurprising its replacement chose to retain the name.
Much like its predecessor, Amber Park benefits from being close to the lifestyle stretch of East Coast Road. It’s only 500 metres, or a four-minute walk, to where the stretch begins (around Katong Shopping Centre). From there it’s family-friendly pubs, restaurants, diners, etc. all the way to the Joo Chiat area.
Parkway Parade is the largest mall in the area, and has both a Cold Storage and a Fair price; it’s about a four-minute drive away.
Tanjong Katong MRT station, will be ready at about the same time as Amber Park’s planned TOP, will be a roughly nine to 10 minute walk.
While Amber Park has freehold status, some investors consider the advantage negated by the presence of so many surrounding condos. Coastline Residencies (see below), Vertis, The Seaview, and Amber Glades are all nearby. So despite Katong having a reputation as an expat enclave, there’s a fair amount of competition for tenants in this area.
2. Coastline Residences
Location: Amber Road (District 15)
Developer: Sustained Land Pte. Ltd.
Expected TOP: 2022
Take-up rate: 46.5 per cent
Number of units: 144
Square Foot Research indicated a median developer price of $2,523 psf. The lowest recent price was $2,307 psf, and the highest was $2,798 psf.
Location wise, Coastline Residences has the same pros and cons as Amber Gardens (see above). The two condos are on different sides of Amber Road, and both are freehold.
The key differentiating factor is size. Coastline Residences has only 144 units, making it better suited to those who want privacy. The units at Coastline Residences also tend to be smaller, with the largest three-bedders at 1,130 sq ft. Amber Park has three-bedders reaching 1,270 sq.ft., and four-bedders which you won’t find at Coastline Residences.
(There is a 2,885 sq. ft. unit in Coastline Residences, but it’s the only one of its kind.)
Location: How Sun Drive (District 19)
Developer: Singhaiyi Huajiang Sun Pte. Ltd.
Expected TOP: 2022
Take-up rate: 11.6 per cent
Number of units: 250
Square Foot Research indicated a median developer price of $2,004 psf. The lowest recent price was $1,938 psf, and the highest was $2,070 psf.
Gazania has one of those locations that’s perfect for very specific buyers. Its location is either perfect for you, or you absolutely want to look elsewhere.
The point of Gazania is that you’re just 300 metres – or just a five-minute walk – to Bartley MRT station. It’s also only a little bit further – 360 metres – to St. Gabriel’s Secondary School. Maris Stella High School is also nearby, at around 430 metres or a seven-minute walk.
The downside is that’s pretty much all you get. There are no nearby shops, eateries, or lifestyle / recreation areas; you’re going to have to hop on the train and go elsewhere for those needs.
As such, families with children attending the aforementioned schools – or residents who want Circle Line access – will find Gazania very well located. That said, $2,004 psf with freehold status and a nearby train station is clearly a tall order for some, given the reception so far. And others may find the overall location lacking in amenities.
4. Juniper Hill
Location: Ewe Boon Road (District 10)
Developer: Allgreen Properties Ltd.
Expected TOP: 2022
Take-up rate: 12.2 per cent
Number of units: 115
Square Foot Research indicated a median developer price of $2,655 psf.
Juniper Hill is small and private (115 units only), nestled in the heart of ritzy Tanglin, and is just a six-minute drive to Orchard via Stevens Road; it’s roughly the same distance to Novena Square. The Stevens Road MRT station is also a somewhat walkable distance, at 800 metres (a 10-minute stroll).
Its location can be a boon or a bane, depending on how you look at it. For one, it is further in to Keng Chin Road – so that makes it more private and quiet (insulated from the traffic noise). But, because you can only access it from Keng Chin Road, accessibility isn’t the best as well.
Interestingly, there are no single-bedder units in this development; the smallest units are two-bedders, which range from 581 to 721 square feet. Landlords who have a strict shoebox-bent may not appreciate that.
The main concern is how Juniper Hill can make itself stand out; Gisborne Light, Hallmark Residences, and Bellerive Palm Spring are all in the immediate vicinity. This creates a cluster of same-ish luxury condos, without much differentiation. So again, we feel this project is more of a home owner’s indulgence than an investment move.
5. Parc Komo
Location: Upper Changi Road North (District 17)
Developer: Chip Eng Seng
Expected TOP: 2023
Take-up rate: 50 per cent
Number of units: 276
Square Foot Research indicated a median developer price of $1,516 psf. The lowest recent price was $1,465 psf, and the highest was $1,528 psf.
We’ll get the most glaring issue out the way first: Parc Komo is only 290 metres from the link centre of Changi prison. If this matters to you for reasons such as taboos, etc., then skip this list entry. Otherwise…
Parc Komo is a long-term commitment. It’s not near any MRT station (and won’t be till about 2029 when the Cross Island Line opens), and there are no immediate amenities. Rather, Parc Komo is meant to be the amenity in the area – it’s a mixed-use project with two levels of commercial space, or 28 shops.
This is much needed in the area, as this part of upper Changi is not well developed. So a lot hinges on the curation of shops here. Get it right, and it would be a very valuable asset. Buyers here will be getting in on the ground floor, but it requires patience. The pricing reflects it: at $1,516 psf, this is one of the most affordable new freehold condos anywhere in Singapore (possibly the lowest priced right now).
Do note that the majority of units at Parc Komo are one and two-bedders. This could also make it a viable consideration to landlords, who are looking to cater to Changi-end hubs such as Changi Business City.
6. The Lilium
Location: How Sun Road (District 19)
Developer: SingHaiYi Huajiang Amber Pte. Ltd.
Expected TOP: 2022
Take-up rate: 1.3 per cent
Number of units: 80
The above pattern is because there are just three transactions to date. The last recorded transaction was at $2,142 psf. The lowest of the three transactions was at $1,946 psf, while the highest was $2,126 psf.
The Lilium can be considered a smaller, more exclusive counterpart to Gazania (see above) – these two condos are just 300 metres apart.
The Lilium is unusual, in that it was actually a landed development (How Sun Park) transformed into a three-storey condo. It’s mostly surrounded by low-density housing, and it has more exclusivity than Gazania due to its smaller unit count.
In terms of location, The Lilium shares most of the advantages and drawbacks of Gazania. It’s also about a five-minute walk to Bartley MRT station, and within walking range of St. Gabriel’s Secondary and Maris Stella High School. But other than these immediate practicalities, there are few other amenities in the surroundings.
Some of the condos above have seen prices dip since their initial launch
It’s a good reminder that sometimes, being among the first buyers doesn’t guarantee getting the best deals. However, bear in mind that if you’re in the later batch of buyers, you may not have a choice of the best units and the best stacks; it’s a trade-off that has to be weighed differently for each development.
Check out our in-depth reviews of new and resale condos to help you along. We’ll keep you updated as changes unfold in the Singapore private property market.
This article was first published in Stackedhomes.