When the 130-unit Kandis Residence launched for sale in 2017, it was an interesting project that garnered some conflicting opinions. The 99-year leasehold project is located on Kandis Link off Sembawang Road in District 27.
On one hand, the project’s location next to a landed enclave typically means a more private and exclusive setting. This was a project marketed on low-density homes, lush greenery, and very little competition from nearby condos.
However, this particular landed neighbourhood in Sembawang isn’t as accessible or convenient as other neighbourhoods in the area, with no nearby malls or MRT stations. But it would be a lifestyle choice for homeowners who want to be away from all that commotion.
Given the positioning of Kandis Residence, how would the price performance of this 99-year leasehold condo fare in such environs?
In the first of this two-part analysis, we’ll assess Kandis Residence through three lenses: its launch positioning and sales behaviour, its resale performance to date, and how it compares with nearby projects and the wider non-landed private residential market.
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How was the sales performance of Kandis Residence when it launched?
| Year | Average $PSF | No. of units sold |
| 2017 | $1,280 | 16 |
| 2018 | $1,270 | 28 |
| 2019 | $1,272 | 46 |
| 2020 | $1,256 | 24 |
| 2021 | $1,224 | 16 |
| % change | -4.43% | – |
At a glance, this doesn’t appear to be a strong launch performance. It took four years for the development to sell out, with the final unit transacting in March 2021, just one month before the project’s TOP.
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