Are There Better Resale Condo Options Near Emerald of Katong? A Detailed Look At Condos Around And Their Prices

8 min read

Emerald of Katong (EOK) is the current top-seller in District 15, as one of the main draws was the price: simply put, buyers expected a higher quantum, as District 15 is an expensive area; especially the expat-heavy lifestyle spot of Katong/East Coast Road. In any case, given that it is nearly 100 per cent sold out, here are some resale alternatives around and how they compare in terms of price:

A quick rundown on EOK’s pricing, for comparison

Part of the decision for the competitive price has to do with its surrounding new launch competition. EOK’s pricing may have been a way for the developer to compete with three earlier launches, all in the same district. Tembusu Grand, Grand Dunman, and The Continuum were already vying for buyers, and Emerald of Katong was the latecomer.

But EOK’s 99 per cent sellout rate is partly due to how it undercuts the competition for several units. Consider: a one-bedder + study cost $1.2 million at EOK, while the same would cost $1.46 million in the Continuum and $1.338 million Grand Dunman. Tembusu Grand is a closer match, but it’s still pricier at $1.248 million. (Note that these are all the cheapest prices at launch, albeit at different timings).

The better purchases were still down to the bigger units. For example, a four-bedder at EOK cost $2.7 million, but prices ranged between $3 million and $3.3 million in the three other new launches. 

In fact, our research and price comparison showed that EOK was cheaper than its three new launch competitors in every unit size category (you can check it out here). However, you do need to note that these were only based on the indicative prices, so not all units were cheaper. Also keep in mind that, because EOK is a post-harmonisation project, it doesn’t include air-con ledges in its square footage; so the lower price point doesn’t necessarily come with a compromise in unit size. 

Since we already have comparisons with the new launches, let’s look at some resale alternatives in the same area.

To be clear, we will be comparing the average prices of each bedroom type at Emerald of Katong, as well as the resale condo.

1. Emerald of Katong vs. Amber Park

Bedrooms	Emerald of Katong	Amber Park	Difference
1	$1,329,240	$1,318,200	$11,040
2	$1,779,056	$2,069,815	-$290,758
3	$2,507,644	$2,915,000	-$407,356
4	$3,180,392	$4,602,500	-$1,422,108
5	$3,860,743	$6,500,000	-$2,639,257

Despite being a resale condo, Amber Park (completed in 2023) is much pricier than EOK. The only exception is for one-bedders, but such a small difference is negligible. 

Rather, what buyers might consider is that, for Amber Park’s higher price, they’re getting a freehold condo. This has an advantage beyond the obvious (i.e., no lease decay): we should consider that district 15 is packed with freehold condos, but Emerald of Katong is leasehold. By convention, a leasehold property surrounded by freehold properties is seen as a notable drawback. Given a long holding period like 20+ years, the price difference for Amber Park could justified.

Second, Amber Park is closer to the Amber MRT station (TEL). This matters more to expat renters than local buyers (they’re less likely to have a car). This nicely coincides with the fact that EOK and Amber Park’s one-bedders are almost the same price; so a landlord with a long-term horizon could consider the freehold Amber Park instead. Strictly in the context of one-bedders though, as for everything else EOK is cheaper. 

2. Emerald of Katong vs. Haig Court

Bedrooms	Emerald of Katong	Haig Court	Difference
2	$1,779,056	$1,850,000	-$70,944
3	$2,507,644	$2,894,963	-$387,319
4	$3,180,392	$3,116,667	$63,725

Haig Court is a direct neighbour to EOK. Here again, we can see the effect of the freehold premium. The price differences between the two and four-bedders may not seem like much; until you consider that Haig Court is 20 years old. 

Regarding the disparity for three-bedders, it’s just because Haig Court has way bigger three-bedders (1,399 to 1,459 sq.ft.), versus the 883 to 969 sq. ft. for EOK. 

Buyers might consider three things here:

First, if you take into account the bigger unit sizes at Haig Court, you’re getting more square footage. We’d admit this is much tougher to compare fairly now, as Haig Court adds all the inefficiencies like air-con ledges to its square footage. It also has older, less efficient layouts. But the size difference still means a more spacious unit, despite all that.

Second is the freehold status, and third is the lower unit count (360 units). This does make it more private and exclusive than EOK’s 846 units. 

3. Emerald of Katong vs. One Amber

Bedrooms	Emerald of Katong	One Amber	Difference
1	$1,329,240	$1,250,000	$79,240
2	$1,779,056	$2,176,333	-$397,277
3	$2,507,644	$3,053,000	-$545,356
4	$3,180,392	$3,377,500	-$197,108

One Amber is next to Amber Park (see above), and is a freehold, 562-unit condo. One Amber has less of an age disparity than Haig Court, being completed in 2010.

The disparity for three-bedders is because One Amber has a wide range of three-bedder layouts, all of which are much bigger than EOK (from 1,259 sq. ft. all the way to 1,442 sq.ft.).

The four-bedders might also draw a buyers’ attention: while the average price difference is around $200,000, the size difference is huge: One Amber’s four-bedders range from 1,615 sq. ft. to 1,701 sq.ft., excluding the even bigger penthouses. 

In contrast, EOK’s four-bedders range between 1,152 to 1,313 sq. ft. Even the biggest premium four-bedders are smaller than some of One Amber’s three-bedders.

In light of that, buyers focused on four-bedders – and who are already prepared to commit to a $3 million+ quantum – might pick One Amber over EOK. Having freehold status on top of that might be seen as a bonus, which negates the 14-year age difference.

4. Emerald of Katong vs. The Esta

Bedrooms	Emerald of Katong	The Esta	Difference
2	$1,779,056	$2,250,000	-$470,944
3	$2,507,644	$3,109,500	-$601,856
4	$3,180,392	$3,636,000	-$455,608

The Esta is a 400-unit, freehold project completed in 2008. It’s a neighbour to One Amber and Amber Park. This is a tough one to compare because The Esta has the huge units characteristic of older condos. 

The number of bedrooms will be misleading here: even the two-bedders at The Esta start from 1,001 sq.ft., and go up to 1,173 sq. ft. That’s a size we’d consider a three-bedder today.

The four-bedders at The Esta also have a very high quantum, because they go up to 2,368 sq .ft. 

Just going down to price psf comparisons wouldn’t help though. That’s too reductive, as the square footage doesn’t just include things like air-con ledges, it also accounts for some inefficiencies like longer hallways. So this is one of those situations where comparing prices on paper doesn’t work, and a visit is needed. 

Our general sense is that the price disparity – coupled with the age gap – is so wide that buyers will probably look to Amber Park or One Amber as more viable alternatives.

One thing to note though, is that The Esta is closer to Amber MRT station (TEL) than EOK. 

5. Emerald of Katong vs. The Sea View

Bedrooms	Emerald of Katong	The Sea View	Difference
1	$1,329,240	$1,390,000	-$60,760
3	$2,507,644	$3,410,500	-$902,856
4	$3,180,392	$4,035,944	-$855,552

The Sea View is a freehold, 546-unit condo that goes back to 2008. The one-bedders here are very close in price to EOK. Whilst The Sea View is older, it does have freehold status and is closer to Parkway Parade mall.

This is a key consideration for landlords (we’re assuming the one-beder is most likely a rental asset). Walking distance to the area’s biggest mall, coupled with access to Marine Parade MRT (TEL) across from the mall, could be more appealing to some tenants. This project is a close match for EOK’s convenience and comes with freehold status and a smaller unit count (less competition for tenants). That might be worth the slim difference of $60,760.

The three-bedders and four-bedders, however, are so much pricier that we doubt there’d be a preference for EOK. Anyone happy to fork out $4 million+ for a resale four-bedder should probably be comparing properties like Meyer Blue instead, or something else in the fancier Meyer Road area. 

6. Emerald of Katong vs. The Shore Residences

Bedrooms	Emerald of Katong	The Shore Residences	Difference
1	$1,329,240	$1,122,500	$206,740
2	$1,779,056	$1,781,270	-$2,213
3	$2,507,644	$2,615,000	-$107,356
4	$3,180,392	$3,070,000	$110,392

The Shore Residences is closer in price to EOK because it’s a leasehold property (103 years). It’s a 408-unit condo built in 2014. 

The most immediate standout is the price difference for the small units (one and two-bedders).

The Shore is just across the road from Katong Shopping Centre*, and is just a short walk from the lifestyle hub of Katong / Joo Chiat. It’s not very close to either Marine Parade or Amber MRT station, but we’d still consider the distance walkable. 

Landlords looking for higher yields might overlook the 10-year age gap with EOK, given the rentability of The Shore.

For larger units, the price gap is more or less expected, given the age difference with EOK. Setting that aside, we’d say EOK has slightly better access to the Haig Road foodie stretch, whereas The Shore is closer to the Katong stretch (and also closer to Parkway Parade). 

*Note: More famous for chicken rice and maid agencies than any actual shopping. The real point of interest is a bit further down the road, toward i12 Katong. 

If you’re looking for a home in District 15, and you’re still uncertain, reach out to us at Stacked; we can help to walk you through the process with the help of experts. If you’d like to get in touch for a more in-depth consultation, you can do so here.