Property Picks 6 Lowest Priced New Launch Two Bedroom Units For Young Couples (Under $1.2 Million)
- Ryan J
- December 2, 2021
- 11 min read
We can’t get around the fact that home prices are, well, crazy in 2021. It’s a rough time for young couples who, for whatever reason, are unable to buy HDB flats but are looking to settle down.
And so for younger couples looking for their first home, a one-bedroom unit would naturally be the top choice given that it represents the most affordable entry price. But while that is true, do remember the following considerations too:
- You cannot buy an HDB flat if you already own a private property; even if it’s just a one-bedder
- If you want to settle down and start a family, a one-bedder isn’t going to last you very long
- One-bedders can be tougher to sell, as they appeal to niche buyers like retirees, other higher-income singles, and investors
For more, do read on here (7 Key Factors To Consider If You’re Buying A Property Before 35).
So if you can push the budget a bit more, 2 bedroom units could be a more sensible choice. That said, it wasn’t all too long ago that for an entry price of $1 million you did have quite a wide selection of new launch 2 bedroom units to choose from. Today, that selection has dwindled down significantly. So if you are still bent on getting a new launch, here are some of the most affordable entry priced two-bedders selling for below $1.2 million:
1. Parc Komo
Location: 957 Upper Changi Road North (District 17)
Developer: CEL Real Estate Development Pte. Ltd.
Number of units: 276
Last transacted price: $970,000 (2-bedroom, 614 sq. ft.)
Square Foot Research indicates a median transaction price of $1,613 psf. The lowest price is $1,502 psf, and the highest is $1,685 psf.
Parc Komo is probably the cheapest new launch, freehold condo on the market. A quantum of below $1 million for a 2 bedroom unit makes this viable even for some first-time buyers.
Naturally, with that price, the downside is the location. There is no MRT station nearby, and amenities are few and far between. In fact, Parc Komo is itself part of the solution to this, as it’s a mixed development that will bring some much-needed shops or eateries into the area. The developer recently announced that FairPrice Finest will be the anchor tenant, which will certainly be a boost not just to the development, but to the vicinity as well. And having a strong anchor tenant will attract better footfall which in turn will help with attracting other retail/F&B tenants too, so this bodes well for them.
While the commercial portion is not huge (28 retail shops), they are the only shops nearby; and there are a number of other condos in the area. Parc Komo could be a de-facto hub of the neighbourhood, for some time to come.
They’ve also gone the extra mile to dress up the landscaping and feel of the development, with the resort-like ambience done up by the renowned Parks + Associates.
Parc Komo is a nine-minute drive to Changi Airport and facilities like Changi Jewel, and a 10-minute drive to Changi City Point – so it could appeal to those who work in these areas.
On the downside, buyers who have taboos won’t appreciate being so close to Changi Prison.
2. The Jovell
Location: 19 Flora Drive (District 17)
Developer: Tripartite Developers Pte. Ltd.
Number of units: 428
Last transacted price: $993,000 (2-bedroom, 635 sq. ft.)
Square Foot Research indicates a median transaction price of $1,419 psf. The lowest price is $1,303 psf, and the highest is $1,539 psf.
The Jovell can be considered as a bigger alternative to Parc Komo (see above). It’s a bit closer to Changi Airport and Changi City Point, being around a seven-minute drive.
But like Parc Komo, it’s in a still underdeveloped area, with no real amenities or public transport nearby; and this drawback may be more significant for The Jovell (Parc Komo is at least mixed-use and has some shops attached). And while you could also point to Parc Komo being in a more quaint area (besides the prison), as it is surrounded by primarily a less dense and more open landed area. The Jovell, on the other hand, is located in a cluster of different low-rise condo developments.
Overall, what goes for Parc Komo can also broadly be said for The Jovell. The main difference is (1) the leasehold versus freehold status, and (2) Parc Komo two-bedders offering more space at a very similar price.
The biggest difference between the 2 is really that massive 29,063 square foot swimming pool (more like a lagoon than anything). So if the facilities are a bigger draw to you, perhaps The Jovell may be a more suitable option.
Location: 223 Guillemard Road (District 14)
Developer: Roxy-Pacific Holdings
Number of units: 137
Last transacted price: Not launched at the time of writing
Overall prices: Indicative of $1.175 million for a 710 sq. ft. unit
Mori at Guillemard Road belongs to the latest generation of en bloc sales, with Roxy-Pacific having only acquired the plot of 15 terrace houses back in November 2020 for $93m.
Roxy-Pacific is well-known as a developer of smaller developments with an emphasis on efficient layouts and small unit sizes, thereby keeping the overall quantum affordable.
While the location is just off Guillemard Road, it is still in the Geylang precinct which for some, may still have certain negative connotations. But for the newer generations, its history might not matter as much as it is, after all, a very central and convenient location to be. And the fact that it is freehold too is further icing on the cake.
And although you do have both the Circle Line (Mountbatten) and East-West Line (Aljunied) within a 10-minute walk away, it isn’t necessarily close enough that daily work would be enjoyable (this can be entirely subjective).
Facilities wise, the development offers a rooftop swimming pool and dining pavilion, and an outdoor gym – which is decent considering it only has 137 units. That said, do note that it is located right next to Guillemard Suites, and the closeness of the buildings might be too close to comfort for some.
That said, at the indicative prices offered it does represent an attractive price point for a centrally located freehold new launch in today’s market.
4. The Watergardens at Canberra
Location: 37 Canberra Drive (District 27)
Developer: UOL and Kheng Leong
Number of units: 448
Last transacted price: $979,000 (2-bedroom, 646 sq. ft.)
Square Foot Research indicates a median transaction price of $1,469 psf. The lowest price is $1,277 psf, and the highest is $1,570 psf.
Canberra is not a mature area, and has fewer nearby amenities. However, the emergence of Bukit Canberra – as a lifestyle and retail zone – show the first stirrings of change (Bukit Canberra is just a four-minute drive from The Watergardens at Canberra, by the way). It is quite a big change, if you were unaware of it previously – you should take note: It will be an integrated sport and community hub. This includes an 8-lap pool, indoor sports hall with 500 seats, gym, and fitness studios.
As such, buyers in the Canberra and wider Sembawang area are probably looking in the long term. There are URA plans to better develop the area, such as with the development of a new waterfront precinct nearby.
Besides long-term owner-investors, Canberra will appeal to those who like quiet neighbourhoods with a lot of greenery. Sembawang Hot Spring Park is a five-minute drive away, and Sembawang Shopping Centre – which has a Giant supermarket – is within an eight-minute walk.
It’s pretty obvious of the demand here too. The Commodore (nearly half the size of The Watergardens) was launched a little later, but on launch weekend sold out of all its 1 and 2 bedroom units. Interestingly, close to 60 per cent of the buyers were under the age of 40 – a sizeable number indeed.
So if you are looking to live in the area, the 2 bedroom units at The Watergardens at Canberra are quite a compelling option from a layout perspective. You have the option of enclosing the kitchen (not common to find at this size), some even have windows for better ventilation, and the bedrooms are laid out such that the wardrobes are able to be flushed-in (looks a look more cohesive!).
5. Normanton Park
Location: 49 Normanton Park (District 5)
Developer: Kingsford Huray Development
Number of units: 1,862
Last transacted price: $1,093,851 (2-bedroom, 635 sq. ft.)
Square Foot Research indicates a median transaction price of $1,839 psf. The lowest price is $1,676 psf, and the highest is $2,024 psf.
We have a full review of Normanton Park on Stacked.
Normanton Park was redeveloped from the former HUDC project of the same name, and it was probably the best-selling condo for the first half of 2021.
The main advantage is proximity to the One-North tech and media hub; it’s around a four-minute drive to the cluster where you’ll find Fusionopolis, Biopolis, etc. Also in the same area is the JTC Launchpad, which houses everything from start-ups to departments of ST Engineering.
There are also several schools nearby, such as INSEAD, which is also a four-minute drive.
Despite the number of foreign talents and students here, the area has been low on accommodation up till now. The other main options here are only the (much smaller) One-North Eden, and One-North Residences.
As such, Normanton Park is of interest to both homeowners who work in the area, as well as landlords.
That said, Normanton Park isn’t really near an MRT station and is a condo for drivers (they do have 1:1 car park ratio thankfully). Like many mega-developments, the facility list is strong and we do also like the fact that it is bordering Kent Ridge Park.
But, with the quality woes from its previous projects (even with the additional checks from BCA) that could still represent some form of uncertainty from a reliability standpoint for buyers. However, with how sales have been going so far – it doesn’t seem to really be a cause for concern!
6. The Florence Residences
Location: 97 Hougang Avenue (District 19)
Developer: Florence Development Pte. Ltd.
Number of units: 1,410
Last transacted price: $1,123,000 (2-bedroom, 635 sq. ft.)
Square Foot Research indicates a median transaction price of $1,773 psf. The lowest price is $1,481 psf, and the highest is $1,919 psf.
We have a full review of Florence Residences on Stacked.
Like most mega-developments, Florence Residences uses its sheer size and range of facilities as a selling point. It made headlines with its massive 80-metre lagoon and 12 clubhouses – think of it as a condo emulating (quite successfully) a lagoon resort.
That being said, you’re trading nearby amenities in exchange for better facilities. While small eateries dot this stretch of Hougang, there are no major malls nearby and few shops. Most of your needs will probably be found at Koven Heartland Mall or Hougang Mall, which are around a six-minute drive.
The nearest MRT station is Hougang MRT (about an 11-minute walk away) while Kovan MRT is about 14-minutes, so this condo is better suited for those who drive.
As with most mega-developments, there is some loss of privacy due to the high number of units, and the possible risk of future competition when selling.
Other condos that nearly made the list
The following condos all have two-bedders that just cross the $1.2 million mark:
|Casa Al Mare||$1,213,500||2 bedroom||764 sqft|
|Midwood||$1,223,000||2 bedroom||635 sqft|
|Urban Treasures||$1,281,640||2 bedroom||635 sqft|
|Bartley Vue||$1,319,000||2 bedroom premium||732 sqft|
For more on affordable properties, as well as ongoing real estate updates, follow us on Stacked. We provide in-depth reviews of new and resale condos alike, to keep you in touch with the Singapore private property market.