As we near the end of Q3 2021, one sad truth is clear: Covid-19 is not going away any time soon.
For those who have an urgent need to move, the resale market is a tough one to navigate at this point – you just don’t have as much flexibility as you do in the new launch market.
As such, we present to you the list of new launches that are closest to TOP as of 2021, along with updated prices. Here are ten condos to look for presently:
- Coastline Residences
- 10 Evelyn
- The Jovell
- Whistler Grand
- 3 Cuscaden
- Meyerhouse
- Royalgreen
- Riviere
- Fourth Avenue Residences
Developers have been more cautious regarding the TOP date this year. For example, many have declined to mention when in 2022 the TOP will be received, even if they probably know it internally.
This is due to the increased risk of construction delays, which can often range between six to nine months.
Location: Amber Road (District 15)
Developer: SL Capital (3) Pte. Ltd.
Lease: Freehold
Number of units: 144
Take-up rate: 82 per cent (Aug 21)
Median prices have fallen since launch.
Square Foot Research indicates a median price of $2,379 psf, down from $2,398 psf in the earliest recorded transactions. This development is 81.9 per cent sold.
Key highlights:
Coastline Residences takes advantage of the upcoming Amber MRT station, on the Thomson East Coast Line (TEL). The station will be up in 2023, and is just 190 metres from this project.
Coastline Residences is located along a major lifestyle stretch of East Coast Road; it’s only a three-minute drive from Parkway Parade.
There are plenty of enrichment centres, restaurants, and family-friendly pubs and sports bars along the same stretch.
This is also an expat enclave, and the Canadian International School is only 650 metres, or a nine-minute walk, from this condo.
Despite the strong rentability, investors should be wary of the large number of boutique, freehold condos already clustered in the area. Competition among landlords can be quite intense, along this part of Katong.
Location: Newton Road (District 11)
Developer: Creative Investments Pte. Ltd.
Lease: Freehold
Number of units: 56
Take-up rate: 11 per cent (Aug 21)
Median prices have fallen since launch.
Square Foot Research indicates a median price of $2,429 psf, down from $2,807 psf in the earliest recorded transactions. This development is 10.7 per cent sold.
Key highlights:
Despite only having 56 units, sales at 10 Evelyn have been on the slow side. Nonetheless, 10 Evelyn is just 500 metres, or a ten-minute walk, to Newton MRT. This provides access to both the Downtown Line (DTL), and North South Line (NSL).
One key attraction is the proximity to high-demand schools. Anglo-Chinese School (Primary) is just 590 metres away, or an 11-minute walk. St. Joseph Institution Junior is just 600 metres away, or a seven-minute drive.
10 Evelyn may be more of an investment condo than a family home, however. This is because it’s in a dense urban area, with a significant concentration of traffic and crowds.
Most of the 56 units are one or two-bedders, which are likely too small for many families.
That said, it is freehold after all, and its central courtyard nature is something that you don’t often see in developments in Singapore. For those looking for an exclusive and private development in a central area, this is one to look at.
Location: Flora Drive (District 17)
Developer: Tripartite Developers Pte. Ltd.
Lease: 99 years
Number of units: 428
Take-up rate: 78 per cent (Aug 21)
Median prices have risen since launch.
Square Foot Research indicates a median price of $1,351 psf, up from $1,299 psf in the earliest recorded transactions. This development is 78 per cent sold.
Key highlights:
The Jovell is appealing to landlords, or entry-level investors looking for a rentable condo. While it’s not near any MRT station, this condo is only a five-minute drive to Changi airport and a seven-minute drive to Changi Business Park.
The unit mix is reflective of this, consisting of many one and two-bedders, or 2+1 units. The quantum is typically below $1.2 million, even for the 2+1 bedder units; this is attractive in terms of stronger yields, and it’s a palatable price point for investors.
The Jovell can also be a left-of-field option for home buyers. If you work at Changi Business Park or the airport, or you consider places like Changi Jewel and Changi Beach to be major amenities, it can also work as a home.
However, The Jovell doesn’t have much in its immediate vicinity; day-to-day grocery shopping, or quick dining, still requires you to drive out. It’s not a convenient location, but the price is fair for what you get.
Location: West Coast Vale (District 05)
Developer: City Developments Limited
Lease: 99 years
Number of units: 716
Take-up rate: 99.6 per cent (Aug 21)
Median prices have risen since launch.
Square Foot Research indicates a median price of $1,760 psf, up from $1,406 psf in the earliest recorded transactions. This development only has three units left based on the August 2021 records from the URA.
Key highlights:
Whistler Grand is next to Twin Vew, making for competing alternatives.
The location is not too fantastic, as there are no MRT stations nearby (currently), nor is there much in the way of retail or entertainment. Rather, we feel Whistler Grand mostly capitalises on surrounding industrial areas, and the upcoming Jurong Innovation District.
The developer seems quite aware of that, as evidenced by the availability of dual-key units (available for three and four-bedders). The bulk of units are two-bedders, ranging from 603 to 700 sq. ft. Comfortable for most tenants, but not for families.
The one-bedders, at around 506 to 517 sq. ft., transact at below $900,000.
Overall, Whistler Grand looks like a project for new investors, aspiring to be landlords. But while the price point is attractive, this isn’t the most convenient location to live.
Location: 3 Cuscaden Walk (District 10)
Developer: SL Capital (2) Pte. Ltd.
Lease: Freehold
Number of units: 96
Take-up rate: 92 per cent (Aug 21)
Median prices have risen since launch.
Square Foot Research indicates a median price of $3,957 psf, up from $3,854 psf in the earliest recorded transactions. This development is 92 per cent sold.
Key highlights:
3 Cuscaden is a luxury property, nestled in the heart of Orchard.
It’s about eight minutes’ walk from Orchard MRT station. We probably don’t need to tell you amenities abound in this area, from ION Orchard to Far East Shopping Centre and Wheelock Place (the closest mall at just 160 metres).
Given the small unit sizes (many units are in the 420 to 764 sq. ft), this development is either for landlords, or lifelong singles / young couples. Given the location and luxury status, this is one of the most expensive developments nearing TOP – even the single bedders transact at just above $1.9 million.
To be fair, it is a freehold development, and that enclave of condos it sits in is a really premium part of town. For just 96 units, the facilities are rather impressive.
A swimming pool both on the ground floor, and an infinity pool on the top floor does mean that you will enjoy a scenic view of Orchard as you luxuriate in the pool.
Location: Meyer Road (District 15)
Developer: Secure Venture Development (No.1) Pte. Ltd.
Lease: Freehold
Number of units: 56
Take-up rate: 41 per cent (Aug 21)
Median prices have fallen since launch.
Square Foot Research indicates a median price of $2,488 psf, down from $2,673 psf in the earliest recorded transactions. This development is 41 per cent sold.
Key highlights:
Meyerhouse is unusual among new launch condos; its unit sizes are comparable to condos from decades prior. For example, three-bedders go up to a generous 2,013 sq. ft., while four-bedders can reach over 3,240 sq. ft.
This is part of its luxury branding, which includes unimpeded, landed property views and private lifts. However, the massive unit sizes also price this development way out of reach for the average buyer. Even a smaller 1,873 sq. ft. unit, for instance, transacts at close to $4.9 million.
Meyerhouse is hard to justify as an investment; this property is best suited to affluent homebuyers, who are looking for an indulgence.
Other than the big units, another perk here which is yet unseen in other luxury developments – the private lift and lobby for each unit. You’d never have to share a lift with your neighbour ever again.
Location: 2 Anamali Avenue (District 10)
Developer: Allgreen
Lease: Freehold
Number of units: 285
Take-up rate: 48 per cent (Aug 21)
Median prices have fallen since launch.
Square Foot Research indicates a median price of $2,537 psf, down from $2,6743 psf in the earliest recorded transactions. This development is 48 per cent sold.
Key highlights:
Royalgreen is one of the best located new launches in Bukit Timah. It’s only a minute or two walk from Sixth Avenue MRT station, and it’s just across from the foodie stretch of Bukit Timah (between Anamali Avenue and Sixth Avenue).
The King Albert Park (KAP) area is just a nine-minute drive. The surroundings are what you’d expect of a Bukit Timah property – a lot of green space and solitude (even the nearby Bukti Timah Road doesn’t bring a lot of road noise).
As an added bonus, this is a freehold property, which makes a decent long-term hold for owner-investors.
This condo is very close to Fourth Avenue Residences (see below).
Location: Jiak Kim Street (District 03)
Developer: Frasers Property Quayside Pte. Ltd.
Lease: 99 years
Number of units: 455
Take-up rate: 37 per cent (Aug 21)
Median prices have fallen since launch.
Square Foot Research indicates a median price of $2,643 psf, down from $2,807 psf in the earliest recorded transactions. This development is 37 per cent sold.
Key highlights:
Riviere is ideal as a rental asset, or for younger couples who want the ritzy lifestyle of the Robertson Quay area. The property has a good waterfront view, and high-end eateries line the riverside.
For those looking for a new launch option by the Singapore River that will complete soon, Riviere is your best bet – unless you are willing to wait till 2025 for the upcoming Canninghill Piers.
For day-to-day needs, Great World City is just 370 metres away, or an eight-minute walk.
The Great World MRT station is also here, providing quick access to public transport. UE Square is another option, albeit further out at a six-minute drive.
That said, Riviere is a high-density area, right in the heart of the city. There’s little in the way of green space here. Traffic, in addition to late-night partying (when Covid isn’t an issue), can be overstimulating for some.
Location: Fourth Avenue (District 10)
Developer: Valleypoint Investments Pte. Ltd.
Lease: 99 years
Number of units: 476
Take-up rate: 67 per cent (Aug 21)
Median prices have risen since launch.
Square Foot Research indicates a median price of $2,464 psf, up from $2,377 psf in the earliest recorded transactions. This development is 67 per cent sold.
Key highlights:
Fourth Avenue Residences is next to the Sixth Avenue MRT station (a little confusing, we know!) It’s close to Royalgreen, as described above; so its location is comparable.
Between the two, Fourth Avenue Residences is closer to the MRT station, and just across the road from the cluster of eateries.
It is also cheaper than Royalgreen, being a leasehold condo. For investors who aren’t looking at very long holding periods, the lower price point here is likely to be a draw.
Fourth Avenue Residences is also a bit less exclusive, with 476 units compared to Royalgreen’s 285. But this number of units still makes a small development (relative to today’s standards), and it won’t feel crowded.
Text: Ryan J/Stacked Homes
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- condominium
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