11 New Launch Condos That Are Close To TOP In 2022 (Part 2)
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Ryan J
- September 26, 2021
- 10 min read
10 min read
Time flies, doesn’t it. It’s crazy to think that we have been living with the pandemic for nearly 2 years at this point. The glut of en bloc and land sales from 2017/2018 seems like such a long time ago now, but we are beginning to see some of these that are getting close to completion.
But as you may know, Covid-19 is definitely having an effect on the property market. Construction delays and material costs are a real risk to property buyers in 2021; so it might be a good idea to either buy resale, or look at condos already nearing completion if you are hankering after something new. Here are 11 projects that are close to finished (some may have sold out), but there will be sub-sales happening soon (view part 1 here!).
1. Sloane Residences
Location: 17 Balmoral Road (District 10)
Developer: TSky Balmoral Pte. Ltd.
Lease: Freehold
Number of units: 52
Square Foot Research indicates a median price of $2,822 psf. This is up from $2,771 in 2019.
This development is 23.08 per cent sold.
Key highlights:
Sloane Residences offers a boutique, upmarket counterpart to Newton area new launches (The Atelier, Kopar at Newton).
Like The Atelier and Kopar, Sloane Residences is close to Newton MRT station; it’s just around 700 metres away. However, its price point and exclusivity make it one for those that value privacy. The typical 1,255 sq. ft. three-bedder transacts at about $3.75 million, whilst the larger four-bedders (over 1,500 sq. ft.) often break the $4 million mark.
A big part of the “luxury” element is that units are mostly “double volume”, featuring high ceilings, and feel more spacious than the square footage suggests.
Only 10 of the 54 units are two-bedders, so this is very much a luxury homeowner’s condo, rather than a rental prospect (especially with The Atelier and Kopar providing more cost-efficient alternatives).
As with most luxury condos, Sloane Residences is an indulgence to enjoy, more than an investment asset.
2. Nyon
Location: 12 Amber Road (District 15)
Developer: Aurum Land Pte. Ltd.
Lease: Freehold
Number of units: 92
Square Foot Research indicates a median price of $2,289 psf. This is down from $2,306 psf in 2019.
This development is 66.3 per cent sold.
Key highlights:
Nyon is a bold move, given the market fatigue settling into the Katong area. Amber Road, East Coast Road, Joo Chiat, and the rest of the area is crammed with boutique, and freehold developments, so standing out is difficult.
Apart from aesthetic differentiation (Nyon is Peranakan-themed, to fit the area), what this project has is a nearby MRT station. Amber MRT, on the Thomson East Coast Line, will be right across the road (around 120 metres) once completed in 2023.
Nyon is also close to the lifestyle cluster of East Coast Road, being just a four-minute drive from Parkway Parade. This area is also an expat enclave, with has a proven track record with landlords.
The main concern is the sheer number of boutique developments nearby, which can provide intense competition.
3. Parc Esta
Location: 900 Sims Avenue (District 14)
Developer: MCL Land
Lease: 99-years
Number of units: 1,399
Square Foot Research indicates a median price of $1,737 psf. This is up from $1,680 psf in 2019.
This development is 99.86 per cent sold.
Key highlights:
If we had to pick a best mega-development for 2019, Parc Esta would probably be the one. It’s right across the road (170 metres) from Eunos MRT, on the much-desired East West Line.
That aside, the selling point of Parc Esta is not its immediate Eunos location; in fact, there’s nothing much of note in the immediate neighbourhood. The main appeal is that Eunos MRT is one stop away from Paya Lebar.
Paya Lebar Quarter (PLQ) is a new commercial and retail hub, with sizeable malls and prime office space. However, the prices in this area have long since risen; so Parc Esta provides good access to PLQ, at a much more attractive price point.
The only real drawback is being so close to the road, and the lack of privacy from having so many units.
4. Stirling Residences
Location: 21 Stirling Road (District 3)
Developer: LN Development (Stirling) Pte. Ltd.
Lease: 99-years
Number of units: 1,259
Square Foot Research indicates a median price of $2,384 psf. This is up from $1,838 psf in 2019.
This development is 99.68 per cent sold.
Key highlights:
Stirling Residences had an unusual story at launch. Because it was the result of a record-breaking, $1.03 billion en-bloc, the market had been braced to accept sky-high prices.
But during the initial launch in 2018, there were prices as low as $1,622 psf, for units of 1,055 sq. ft. Most transactions for these family-sized units reached $1.7 million or below; and it’s an attractive price point for a city fringe condo.
This lower price point, coupled with proximity to Queenstown MRT (around 350 metres), made Stirling Residences a draw for both homeowners and investors.
This project is also close to Anchorpoint, IKEA Alexandra, and Queensway, at around a four-minute drive; so it’s a very convenient place to live.
Still though, take note of the high unit count. At 1,259 units, buyers who dislike mega-developments may want more exclusive options. Another minor drawback that many point out, just the one tennis court for the number of units could be a cause for concern for the tennis fanatic.
5. The Gazania
Location: 5 How Sun Drive (District 19)
Developer: Singhaiyi Huajiang Sun Pte. Ltd.
Lease: Freehold
Number of units: 250
Square Foot Research indicates a median price of $2,082 psf. Price movement is almost flat ($2,081 psf in 2019).
This development is 16.4 per cent sold.
Key highlights:
The main highlights are proximity to Bartley MRT (280 metre distance), and to Maris Stella High School (440 metres). Among the various private developments in the area, The Gazania has the best proximity to both these amenities.
That aside, the Gazania has some interesting unit layouts, including high-ceiling units with mezzanine floors; there are about 10 of these, at 1,711 to 1,851 sq. ft.
The slower sales are probably due to the price point. The 1,200+ sq. ft. family units have transacted at around $2.4 million, while even the smaller 990 sq. ft. units have broken the $2 million mark.
This price is not what buyers are used to seeing in OCR condos, even if they’re freehold and near the MRT.
6. Juniper Hill
Location: 39 Ewe Boon Road (District 10)
Developer: Allgreen Properties Ltd.
Lease: Freehold
Number of units: 115
Square Foot Research indicates a median price of $2,913 psf. This is up from $2,833 psf in 2020.
This development is 24.35 per cent sold.
Key highlights:
Note that Juniper Hill, Fourth Avenue Residences, and Royalgreen are part of a “series” called the Bukit Timah collection – all three are by Allgreen Properties, so they have been inviting close comparisons to each other. That said, Fourth Avenue Residences is the only leasehold property though, so it is the more affordable of the 3.
(All three are high-end District 10 properties though, so they don’t get much cheaper than their counterparts!)
Juniper Hill is the more popular option among families, not least because the venerable Anglo-Chinese School (Primary) is close at 660 metres. Juniper Hill also benefits from being close to Orchard, but far enough to escape the density and urban traffic.
From this condo, it’s only an eight-minute drive to Tanglin Shopping Centre, Far East Plaza, etc.
One drawback, however, is that Juniper Hill is further from MRT access than Fourth Avenue Residences or Royalgreen. It is also located quite far inside Keng Chin Road, and turning out to Bukit Timah Road may be an issue during peak hours. Not surprisingly, this is the least popular out of the 3 in the Bukit Timah collection. Nonetheless, some buyers will appreciate the exclusivity and greater sense of quiet this provides.
7. The Hyde
Location: 11 Balmoral Road (District 10)
Developer: Aurum Land Pte. Ltd.
Lease: Freehold
Number of units: 117
Square Foot Research indicates a median price of $3,165 psf. This is up from $2,904 psf in 2019.
This development is 34.19 per cent sold.
Key highlights:
Balmoral Road provides good access to the Orchard area, while still being in a quiet enclave. The Hyde is only a five-minute drive to Orchard Road, which mitigates the lack of across-the-road amenities.
Families will appreciate that The Hyde is small and quiet, with a lot of greenery despite being in the heart of the city. It also helps that two schools with a solid reputation – Anglo-Chinese School (Primary) and Singapore Chinese Girls School are both under 700 metres from this project.
That said, The Hyde is really a condo for those willing to drive. Newton MRT station isn’t that closest located by, and you need to head out to even for a quick bite. Investors may also hesitate regarding the location, as Balmoral Road has no shortage of luxury, boutique developments.
8. The Woodleigh Residences
Location: 19 Bidadari Park Drive (District 13)
Developer: The Woodleigh Mall Pte. Ltd. and The Woodleigh Residences Pte. Ltd.
Lease: 99-years
Number of units: 667
Square Foot Research indicates a median price of $2,131 psf. This is up from $1,864 psf in 2019.
This development is 74.96 per cent sold.
Key highlights:
The Woodleigh Residences and Park Colonial are next to each other; so if you weren’t able to get a Park Colonial unit a while ago, this is another chance to live in the same area.
The Woodleigh Residences is an integrated development, with a 28,000 sq.m. mall. This includes a supermarket, along with the usual retail and dining. It’s also the transport node for the neighbourhood, incorporating the bus interchange, and the Woodleigh MRT station across the road.
This comes with the usual drawback of being in the area’s hub. While it’s convenient and highly rentable, you do have to accept a higher degree of noise and traffic congestion.
For those buying at this late stage, the price point hurts; median prices are up over 14 per cent from 2019.
At $2,131 psf, we’re starting to see even 958 sq. ft. units transact at over $2 million. Units within reach of most HDB upgraders (usually around the $1.6 million range) are at 743 sq. ft. or below – too small for many families.
9. The Antares
Location: 19 Mattar Road (District 14)
Developer: FSKH Development Pte. Ltd.
Lease: 99-years
Number of units: 265
Square Foot Research indicates a median price of $1,731 psf. This is slightly down from $1,793 psf in 2019.
This development is 82.64 per cent sold.
Key highlights:
The Antares got off to a rocky start, which is why you can see prices diving somewhat in January 2020; even then, this condo only moved 44 units for the whole of the year.
Nonetheless, you can see sales have picked up, with only 20 per cent of units left as of August 2021.
Realtors attributed the slow initial pick-up to a lack of amenities. The Antares is in a somewhat reclusive area, between MacPherson and Aljunied. There’s nothing here in the way of retail, food, or entertainment.
That said, there are some upsides to the location. It’s a low-density area with a lot of privacy, and it’s a mere 160 metres from Mattar MRT station (Downtown Line). It’s also very close to Canossa Catholic Primary, which is just 150 metres away.
We believe a lot of buyers have – up till this point – missed one of the key advantages: The Antares is only a nine-minute drive to Paya Lebar Quarter (PLQ), which is a commercial hub. This makes the location better than it seems at first glance; and we’re surprised that PLQ’s proximity wasn’t as heavily marketed.
10. Daintree Residence
Location: Toh Tuck Road (District 21)
Developer: S P Setia
Lease: 99-years
Number of units: 327
Square Foot Research indicates a median price of $1,731 psf. This is slightly down from $1,793 psf in 2019.
This development is 100 per cent sold.
Key highlights:
Daintree Residence didn’t have the best of starts, as it was the first condo to launch after the cooling measures in July 2018. That said, initial sales weren’t too bad with 50 units sold out of 80 launched, although it did stagnate for quite a while till 2020.
Perhaps due to the number of new launch competitors in the area (View at Kismis, Mayfair Gardens/Modern, Ki Residences, Linq, Verdale, and the upcoming Jalan Anak Bukit site), but there are a number of positives going for it too. Other than the TOP date, it does have attractive landscaping and interesting use of the rooftops. Instead of penthouse units, you’d find treetop walkways, lush greenery, and various dining amenities.
One major selling point is that it only has 327 units on over 200,000 square feet of land – which is really commendable in today’s context.
On a less positive note, the condo isn’t exactly near to the Beauty World MRT station on the Downtown Line, so if you are reliant on the MRT this could be a sticky point.
It is fully sold at the time of writing, so if you desire a unit here you’d have to wait for sub-sale units to come up.
11. Midwood
Location: Hillview Rise (District 23)
Developer: Hong Leong Group
Lease: 99-years
Number of units: 564
Square Foot Research indicates a median price of $1,731 psf. This is slightly down from $1,793 psf in 2019.
This development is 74.82 per cent sold.
Key highlights:
Midwood was launched at the end of October 2019 and sold a paltry 24 units, or 4%, over its first weekend. Thankfully for the developers, sales picked up in tandem with the rest of the property market and is now 72.82% sold.
Unlike the Dairy Farm Residences nearby, Midwood doesn’t have its own retail section, but it does have the HillV2 shopping centre right next door. While it isn’t exactly a retail extravaganza, there are a decent number of restaurants and cafes plus a supermarket.
What is good here is the privacy and space offered by the 120m distance between the 2 towers and having 80% of the land dedicated to facilities and landscaping. Another major selling point is that you are able to live close to greenery and nature parks.
Take note that some of these condos have lower prices, despite being closer to TOP
The Antares and Nyon could represent interesting options, given they’re both cheaper and yet closer to construction. Buyers should also keep in mind that, if units are left after TOP, there may be a chance to use alternative financing schemes, such as the Deferred Payment Scheme (DPS) (although take note of how it works here).
We’ll keep you up to date as the market changes, so do follow us on Stacked. Also check out our in-depth reviews of the properties here, linked in the descriptions above.
