Property Picks 7 Condos That May Benefit From The Upcoming Tavistock & Serangoon North MRT Stations
- Ryan J
- May 31, 2022
- 7 min read
Two MRT stations on the upcoming Cross Island Line (CRL) will start operations in Q2 this year (both contracts worth a combined $861 million). The Tavistock and Serangoon North MRT stations will solve longstanding accessibility issues, and property buyers are already eyeing the projects that might benefit. Here’s a look at some condos near the new stations:
Note: Only Kensington Park is near Tavistock, but Serangoon North and Tavistock are one-stop apart on the same train line anyway.
Table Of Contents
- Kensington Park (also near Tavistock)
- One Rosyth
- Hundred Palms Residence
- Affinity at Serangoon (New Launch)
- Parkwood Residences (New Launch)
1. Kensington Park
Average pricing: $1,448 psf
Average rental yield: 2%
Location: 2 Kensington Park Drive
Developer: Leadale Property Pte. Ltd.
Lease: 999 years
Completion date: 1990
Number of units: 316
This condo is around 660 metres from Serangoon North MRT, and 690 metres from Tavistock MRT.
TJ wrote quite a detailed bit about Kensington Park, with one of the main unique attributes being an entire block of duplex units with lift access to both floors. For those looking for such units but have elderly folk to take care of, this is one of the rare few that is still within the realms of affordability.
Kensington Park is just a 10-minute walk away from the famous Chomp Chomp food centre, and about 11 minute walk from MyVillage mall. Kensington Park is in a pretty quiet enclave, and the small unit count (316) makes for very private development.
Kensington Park is the closest condo development to Serangoon Garden Secondary and is just right next door. While it’s in priority enrolment distance for Rosyth and Zhonghua (under one kilometre) do note it’s not within walking distance (it’s almost a half-hour on foot for Zhonghua).
This is an older condo and the facilities show it (swimming pool, gym, bbq pits, tennis, and squash court); but the price point is reasonable for a 999-year (effectively freehold) condo, in this prized part of Serangoon.
2. One Rosyth
Average pricing: $1,163 psf
Average rental yield: Not available
Location: 1 Rosyth Road
Developer: Mushrooms Realty Pte. Ltd.
Completion date: 2011
Number of units: 17
One Rosyth is around 870 metres from Serangoon North MRT.
This is a boutique development, located where Rosyth Road meets Yio Chu Kang Road.
The location is a bit strange, with regard to exclusivity. On the one hand, it’s within a high-end landed housing enclave, with no tall buildings nearby. On the other hand, it’s right next to a major road. It’s a pity, because close proximity to the road spoils the serenity a bit.
Regardless, it’s only a five-minute drive to Chomp Chomp from here, and six minutes to MyVillage mall; so we’d still say it has convenient access to Serangoon Gardens. This is a viable choice if you want to live within the Serangoon landed enclave, but don’t want to commit to a full landed home. You do also have a rooftop swimming pool to look forward to (even if it isn’t very big), which is neat for a condo with just 17 units.
Average pricing: $1,208 psf
Average rental yield: 3.2%
Location: 21 Terrasse Lane
Developer: MCL Land
Completion date: 2014
Number of units: 414
Terrasse is 530 metres from the Serangoon North MRT station.
This project was clearly intended as a rental asset, featuring a good number of one and two-bedders.
Note that the one-bedders at around 538 sq. ft. can reach a quantum of below $700,000, while two-bedders at around 807 sq. ft. have sold for below $1 million, making this quite palatable to new investors. This also explains why Terrasse is on the upper end for gross rental yield, averaging 3.2 per cent.
Terrasse is not as close to Serangoon Gardens as many of the condos on this list, although it’s still just a 5 to 7-minute drive to get there. Hougang 1 (a community mall) and Heartland Mall Kovan are the closest major amenities, at around an eight-minute drive.
4. Hundred Palms Residences (EC)
Average pricing: –
Average rental yield: 3.1%
Location: 276 Yio Chu Kang Road
Developer: Hoi Hup Hougang Development Pte. Ltd.
Completion date: 2019 (not yet out of MOP)
Number of units: 531
Hundred Palms is 540 metres away from Serangoon North MRT, making this one of the few ECs that have an MRT station nearby. It’s currently still in its five-year MOP, but the MRT station should be up and running by the time Hundred Palms reaches full privatisation (around 2029).
We suspect this may cause many owners to hold even after MOP, and wait for privatisation before selling.
This development has the added advantage of being one of the closest to Rosyth school (around a six-minute walk), and the Hougang 1 community mall is just a seven-minute walk. Once the MRT station is up, this will be one of the more conveniently located condos in the Serangoon area.
Average pricing: $878 psf
Average rental yield: 3.6%
Location: 2 Hougang Street
Developer: Serenity Properties Pte. Ltd.
Completion date: 1999
Number of units: 580
Regentville is 710 metres from the Serangoon North MRT station. While it’s starting to get on in years, Regentville is one of the most affordable condos in the Serangoon area.
This is one of the few condos where a 1,076 sq. ft. unit can still be priced slightly above $1 million, and a 1,335 sq. ft. unit can fall below $1.2 million. This will be of interest to first-time homebuyers who want a ready-to-move-in resale unit, and who don’t have a prior flat to fund the purchase. It is 23 years old though, on a 99-year lease plot of land, so you do have to be wary of its age if you are planning to hold for the longer term.
Location wise, it’s close to Hougang 1 Community Mall, which can provide most day-to-day amenities; this is just a four-minute walk. As an alternative, the larger Hougang Mall is just a seven-minute drive. Regentville is right next to Hundred Palms Residences, so many of the same advantages of its location will apply here as well. One thing is for sure though, you can see how much more dated the exterior is when compared to the much newer EC!
There are a lot of flats clustered in this area though, so don’t expect an unimpeded view from every block. It might feel a little hemmed in for some homebuyers. This is, however, a minor drawback given the attractive price point.
6. Affinity at Serangoon
Average pricing: $1,547 psf
Location: 32 Serangoon North
Developer: Oxley Serangoon Pte. Ltd.
TOP: 2022 (targeted)
Number of units: 1,052
Affinity at Serangoon is 560 metres from the Serangoon North MRT station.
This is a mega-development, which also offers 40 landed units. Affinity was more or less the headline development for the Serangoon area, for the past few years. It’s about an eight-minute drive to MyVillage and Chomp Chomp, putting it reasonably close to the Serangoon Gardens area.
Alternatively, this condo is around an eight-minute drive to the NEX megamall.
Like most mega-developments, the sheer size allows for more extensive facilities; but investors might be worried about potential competition for tenants, and resale. At the current average price, it is possible to reach a quantum of around $1.4 million, even for a 926 sq. ft. unit – a bit steep for first-time home buyers, but within expectations for a new launch in such a mature area. It is 100% sold out at this point,
7. Parkwood Residences
Average pricing: $1,534 psf
Location: 208 Yio Chu Kang Road
Developer: Oxley Garnet Pte. Ltd.
Number of units: 18
Parkwood Residence is one of the closest projects to Serangoon North MRT station, within 570 metres.
In terms of amenities, it’s about a seven-minute drive to MyVillage and the Serangoon Gardens area, but Hougang 1 is the closest mall at around six minutes. This is also the closest project to Bowen Secondary, which is just 10 minutes away on foot.
As with One Rosyth (see above), exclusivity is the selling point here. There are only 18 units, and you’re within a low-density landed enclave. Also like One Rosyth though, one of our gripes is that the development is so close to the main road, which slightly spoils the exclusivity.
It’s a fair price for a landed location, and a pretty mature one at that; but if you can get a resale unit at One Rosyth, do note that its older counterpart is both cheaper and on 999-years – definitely a point to ponder. It does have quite strange layouts, as we have pointed out here, which not every homebuyer would be a fan of.
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