Is Emerald Of Katong Really A Good Buy? A Detailed Look At Pricing Vs Tembusu Grand And D15 Competitors
- Cheryl
- November 9, 2024
- 18 min read
- Leave comment
Just as with Chuan Park, Emerald of Katong is one of the most highly anticipated launches of 2024. But the Katong area has been awash with activity in recent months, and it will be the fourth out of all the new launches so far (the other three are Grand Dunman, The Continuum and Tembusu Grand).
Naturally, the success of Emerald of Katong would thus depend on whether it can outshine the other 3 new launches, as well as its positioning relative to resale condos in the area. As such, this would be the focus of our pricing review. So without further ado, here’s a look at the asking prices for Emerald of Katong.
Disclaimer: These are just starting prices, so whatever analysis is being done should be taken with a pinch of salt as the price staging could be more aggressive. Furthermore, Emerald of Katong is a post-harmonisation project. Thus while its size is smaller (resulting in a higher $PSF), it does not count the aircon ledge, unlike pre-harmonisation projects.
Indicative price | Size | Price From | $PSF |
1 Bedroom + Study | 484 | $1,200,000 | $2,479 |
2 Bedroom Premium | 624 | $1,500,000 | $2,404 |
2 Bedroom Premium + Study | 678 | $1,600,000 | $2,360 |
3 Bedroom | 883 | $2,100,000 | $2,378 |
3 Bedroom + Study | 969 | $2,300,000 | $2,374 |
4 Bedroom + Study | 1,152 | $2,700,000 | $2,344 |
4 Bedroom Premium | 1,259 | $3,000,000 | $2,383 |
5 Bedroom Luxe | 1,475 | $3,500,000 | $2,373 |
At a glance, these prices are attractive. Scoring a new 3-bedroom unit at just above $2 million in District 15 is a good deal, all things considered. The other type that would be highly contested would be the 4 bedrooms, as a price starting from just $2.7 million is great for a new launch in the area.
That said, for the 4-bedders you don’t have many units, so this would be down to how fortunate you get with your ballot number.
Bedroom Type | Units | Unit Mix |
1 Bedroom + Study | 82 | 9.7% |
2 Bedroom Premium | 145 | 34.0% |
2 Bedroom Premium + Study | 143 | |
3 Bedroom | 101 | 33.3% |
3 Bedroom + Study | 139 | |
3 Bedroom Flexi | 42 | |
4 Bedroom + Study | 38 | 18.7% |
4 Bedroom Premium | 84 | |
4 Bedroom Luxe + Study | 36 | |
5 Bedroom Luxe | 36 | 4.3% |
Total | 846 | 100.0% |
What have recent new launches gone for?
To understand why the starting price of Emerald of Katong is attractive, you can simply look at how prices have gone in earlier new launches. In the past 2 years, D15 has seen 4 other new launches: Grand Dunman, Tembusu Grand, The Continuum and Meyer Blue. However, we won’t be including Meyer Blue as part of the detailed analysis as its price category is a different tier. It’s not only freehold but also situated along the more prestigious Meyer Road and commands a $PSF of over $3,000.
Project Name | Bedroom Type | Size From (Sq Ft) | Size To (Sq Ft) | Min $ | Avg $ | Max $ |
GRAND DUNMAN | 1 Bedroom | 452 | 581 | $1,093,000 | $1,200,372 | $1,385,000 |
1 Bedroom + Study | 549 | 603 | $1,338,000 | $1,410,652 | $1,578,000 | |
2 Bedroom | 667 | 893 | $1,541,330 | $1,705,176 | $1,937,000 | |
2 Bedroom + Study | 775 | 1,012 | $1,808,460 | $2,009,212 | $2,251,000 | |
2 Bedroom Dual Key | 721 | 775 | $1,770,000 | $1,901,690 | $2,092,000 | |
3 Bedroom | 958 | 1,163 | $2,225,000 | $2,343,240 | $2,557,000 | |
3 Bedroom (Grand) | 1,475 | 1,475 | $3,516,000 | $3,640,000 | $3,764,000 | |
3 Bedroom + Study (Luxury) | 1,119 | 1,335 | $2,690,000 | $2,876,733 | $3,128,000 | |
3 Bedroom Dual Key | 1,055 | 1,055 | $2,528,000 | $2,631,500 | $2,697,000 | |
3 Bedroom Flex | 1,098 | 1,098 | $2,628,000 | $2,727,462 | $2,785,000 | |
4 Bedroom | 1,292 | 1,292 | $3,053,000 | $3,146,160 | $3,361,000 | |
4 Bedroom (Grand) | 1,857 | 1,927 | $4,365,000 | $4,410,000 | $4,477,000 | |
4 Bedroom (Luxury) | 1,432 | 1,432 | $3,414,000 | $3,593,314 | $3,742,000 | |
5 Bedroom (Grand) | 2,131 | 2,131 | $5,116,000 | $5,168,000 | $5,200,000 | |
5 Bedroom (Luxury) | 1,690 | 1,690 | $4,016,000 | $4,282,143 | $4,375,000 | |
TEMBUSU GRAND | 1 Bedroom + Study | 527 | 667 | $1,248,000 | $1,336,822 | $1,576,000 |
2 Bedroom | 667 | 829 | $1,556,000 | $1,670,304 | $1,948,000 | |
2 Bedroom + Study | 743 | 743 | $1,787,000 | $1,888,670 | $2,020,000 | |
3 Bedroom | 990 | 1,184 | $2,288,000 | $2,405,584 | $2,744,000 | |
3 Bedroom + Study | 1,173 | 1,173 | $2,698,000 | $2,840,911 | $2,976,000 | |
4 Bedroom | 1,432 | 1,604 | $3,325,000 | $3,463,274 | $3,677,000 | |
5 Bedroom | 1,711 | 1,711 | $4,220,000 | $4,232,000 | $4,244,000 | |
THE CONTINUUM | 1 Bedroom + Study | 560 | 560 | $1,463,000 | $1,521,625 | $1,592,000 |
2 Bedroom | 667 | 667 | $1,670,000 | $1,802,580 | $1,960,000 | |
2 Bedroom + Study | 721 | 721 | $1,818,000 | $2,008,396 | $2,180,000 | |
3 Bedroom | 947 | 947 | $2,306,000 | $2,557,248 | $2,734,000 | |
3 Bedroom + Study | 1,249 | 1,249 | $3,490,000 | $3,598,482 | $3,711,000 | |
3 Bedroom Premier | 1,087 | 1,087 | $2,742,040 | $3,024,437 | $3,250,000 | |
4 Bedroom | 1,270 | 1,292 | $3,312,000 | $3,476,955 | $3,675,000 | |
4 Bedroom Premier | 1,690 | 1,690 | $4,758,000 | $4,809,500 | $4,861,000 | |
5 Bedroom | 1,905 | 2,260 | $5,470,000 | $5,874,000 | $6,406,000 |
For completeness, we’ve broken it down by bedroom type and its minimum, average and maximum price paid so far.
For each unit type across all three comparable launches, the starting price of their cheapest unit was higher than the starting price at Emerald of Katong.
We don’t know how prices would be staged, but assuming it’s staged at a moderate rate, it looks like Emerald of Katong will still be priced the best. However, we must be aware that the sizes are not directly comparable due to the GFA harmonisation as the sizes shown for Emerald of Katong do not include AC ledges unlike the others above.
We’ve also only compared absolute price which doesn’t paint a full picture as layouts and functionalities are important too, so let’s look at each of the bedroom sizes and how they compare.
Emerald of Katong 1 Bedroom + Study Comparison
Emerald of Katong’s low price comes at the cost of a small study tucked in the corner of the master bedroom. All other study areas are separate or at least have some partition to the bedroom, allowing for some separation between work and rest (and they’re bigger too).
Here’s a look at how Emerald of Katong’s study compares to the others:
Tembusu Grand and The Continuum have a similar size, while Grand Dunman’s study takes the cake.
Another difference is the layout, with the first point being the separation of space. While Tembusu Grand looks more expensive, it has a dedicated study area. Imagine staying here with a partner and being able to use the study while your partner sleeps in the bedroom. That’s the kind of functionality a separate space provides. Some people also like the idea of not working where they sleep for sleep hygiene reasons. This additional $48,000 may not sound like much for a dedicated space that’s much bigger.
As for Grand Dunman, its layout is the most flexible as the master bedroom is separated by a thin partition. Residents can choose to get rid of the partition to achieve an even larger master bedroom space if needed.
Finally, The Continuum is a freehold condo which explains the higher price, though the larger separate study is better than the one Emerald of Katong offers.
Of course, there’s no 1-bedroom offering to begin with, so those looking at a simple 1-bedroom will still find this suitable. Only Grand Dunman has a 1-bedroom offering without a study and it’s an average of $1.2 million already, so purely on a 1-bedroom layout, Grand Dunman has come out top with its lower price.
Overall, while the price tag may look low, buyers should be aware of the reason why. Its not a clear winner given the pros that other layouts around offer.
Emerald of Katong 2 Bedroom Premium
Out of the 4 layouts here, Grand Dunman’s 2 bedroom is the least favourable. It’s not even comparable since it’s just a 1 bathroom variation, but its prices are similar to the other 2 bedroom 2 bathroom layout. The price difference between a 2 bed 1 bath and 2 bed 2 bath is quite significant – usually over $100,000. So it’s hard to fathom the price of Grand Dunman relative to the others.
All the layouts here are dumbbell, making it efficient as there’s no corridor space. Among the 3, Tembusu Grand stands out for having a kitchen that’s tucked in one corner. This may or may not be a good thing as there’s no natural ventilation and it’s not enclosed either. Thus the smells from any heavy cooking would go through the rest of the home.
Since the layout does not much of a difference, it boils down to price here. So far, Emerald of Katong seems to have the edge as it’s more affordable given its starting price. What remains is to see how the price is staged up.
Emerald of Katong 3 Bedroom
Emerald of Katong’s compact 3 bedroom has a very decent layout. There’s a Z-shaped entryway for those who like some privacy. Usually, compact unit types should do away with such a feature as privacy is not as important as affordability. But if we compare it to the other 3 layouts, all of them have some sort of large foyer to begin with.
All of its bedrooms can fit a side table comfortably and both bathrooms come with natural ventilation. There’s also a decent amount of space in the kitchen, and the dining area looks more spacious compared to the others.
The Continuum is priced the highest due to its freehold status. However, both bathrooms do not have natural ventilation and one of the bedrooms is quite small, making it less attractive than either option from a floor plan perspective.
What’s interesting here is the AC ledge where you can see the benefit of the most recent GFA harmonisation. The Continuum has 2 AC ledges, while Tembusu Grand and Grand Dunman both have a large AC ledge. Emerald of Katong manages with just 1.
So in terms of layout, Emerald of Katong comes out top here. At a starting lowest price of $2,100,000, Emerald of Katong looks to be the most attractive option so far out of the 4 new launches in the area. The price is attractive, and if staged up moderately, will certainly be quickly snapped up.
Emerald of Katong 4 Bedroom
The main differences with Emerald of Katong and the others is the study area, the household shelter and the number of bathrooms.
First off, we’re pleased to see the study area is a proper one. It may not have a window, but it’s at least decent enough for someone to sit there with a wide monitor and have some documents around. It’s also possible for 2 to work together side by side. If need be, the study can also be converted into a small bedroom.
Emerald of Katong has a decent store room but it’s not as big as a household shelter. There are pros and cons to this. While some prefer a larger storage room, others prefer more living space. Those who want more storage space can also turn the study into a household shelter.
The downside to Emerald of Katong’s layout is that there is only 1 common bathroom. Its dumbbell layout makes it more efficient since it frees up some corridor space, but that also means the occupant has to walk across the hallway to access the bathroom that’s shared with 2 others.
What’s nice about the layout is the dining area. It may not have the flexible living/dining combination, but the dining can be extended past the dry kitchen area to accommodate a larger group – perfect for those who have guests over frequently. This can also be achieved with Tembusu Grand’s layout, but not with the others.
The layout that’s the least optimal here is The Continuum. It’s got a restricted dining area, just 1 common bathroom and a small common bedroom.
Considering the pros and cons of Emerald of Katong, it’s hard to say which layout is better here. Having an additional common bathroom and more privacy as a result is great. However, if we consider the price, then Emerald of Katong is very attractive. It’s not just under $3 million but starts at $2.7 million. If the price is staged up moderately, the price difference would be big enough that people are willing to sacrifice this one extra bathroom.
Emerald of Katong 5 Bedroom
There are several attributes across the various floor plans worth highlighting.
First off, both Grand Dunman and The Continuum have a private lift. This adds a good touch to those seeking a more luxurious lifestyle. Grand Dunman offers the more affordable option here and it’s also over 300 sq ft smaller than the one at The Continuum. The big difference in size comes from the more spacious master bedroom, bathroom and kitchen. It has a large yard and a separate storeroom. There’s even a powder room for guests.
What’s strange about The Continuum is that while the master bedroom is luxurious, it has made sacrifices in one of the common bedrooms. You can see that the width of the room is quite tight in bedroom 5. 3 of the common bedrooms here also share 1 bathroom. This is unlike Grand Dunman where 3 bedrooms share 2 bathrooms, of which 2 bedrooms are ensuite. Grand Dunman in this case is not only cheaper but seems to be the more practical choice (unless you’re a huge fan of that large yard).
In terms of layout, Emerald of Katong and Tembusu Grand are the most similar as they do not have a private lift. Both also see 3 common bedrooms sharing 2 bathrooms, of which 1 bedroom is ensuite.
Both offer dual sinks in the master bedroom and a walk-in wardrobe, though Emerald of Katong’s L-shaped wardrobe is better since the bathroom doesn’t directly face the bedroom.
The kitchen would also feel more spacious as it’s more of a squarish layout than a rectangular one, and it has a slightly larger yard. The living/dining area is the only one out of all the layouts to be combined which provides a flexible configuration.
Overall, the 5 bedroom at Emerald of Katong makes a lot of sense if you’re not someone who prioritises a more luxurious layout. And at a starting price tag of $3.5 million, there are certainly a lot of minor issues that you can gloss over. Given this attractive price tag and again assuming the price staging isn’t aggressive, the 5-bedroom at Emerald of Katong is quite an attractive offer.
After all, Tembusu Grand is currently asking for $4,028,000 which is the lowest that would’ve been transacted for this bedroom type in the development (which is a good 15% more than what Emerald of Katong starts at).
How does Emerald of Katong fare against resale condos in the area?
The success of new launches in the Katong area also depends on the price and offering in around. For our analysis, we’ll be looking at resale condos around the vicinity of 500m. We’ve also shortlisted comparable projects – those with at least 200 units:
The closest in terms of location is Haig Court. The newest comparison is Amber Park which also happens to be one of the closer ones to an MRT (Tanjong Katong).
Since all the projects compared are pre-harmonisation, we’ll be looking at bedroom prices instead:
Project Name | Tenure | Completion Year | Bedrooms | Median Size | Average Transacted | Lowest Transacted | Deviation (Price) | Deviation (Size) |
AMBER PARK | Freehold | 2023 | 1 | 463 | $1,336,500 | $1,265,000 | $65,000 | -21 |
2 | 743 | $2,075,815 | $1,875,000 | $375,000 | 54 | |||
3 | 947 | $2,965,936 | $2,680,000 | $580,000 | 64 | |||
4 | 1582 | $4,743,333 | $4,430,000 | $1,730,000 | 430 | |||
5 | 2336 | $6,500,000 | $6,500,000 | $3,000,000 | 861 | |||
HAIG COURT | Freehold | 2004 | 2 | 1076 | $1,850,000 | $1,850,000 | $350,000 | 452 |
3 | 1442 | $2,843,978 | $2,700,000 | $600,000 | 559 | |||
4 | 1550 | $3,116,667 | $3,000,000 | $300,000 | 398 | |||
ONE AMBER | Freehold | 2010 | 1 | 570 | $1,250,000 | $1,190,000 | -$10,000 | 86 |
2 | 958 | $2,174,500 | $2,169,000 | $669,000 | 334 | |||
3 | 1329 | $3,044,167 | $2,880,000 | $780,000 | 419 | |||
4 | 1658 | $3,428,333 | $3,350,000 | $650,000 | 506 | |||
THE ESTA | Freehold | 2008 | 2 | 1071 | $2,250,000 | $2,200,000 | $700,000 | 517 |
3 | 1346 | $3,087,600 | $3,000,000 | $900,000 | 463 | |||
4 | 1593 | $3,636,000 | $3,600,000 | $900,000 | 441 | |||
THE SEA VIEW | Freehold | 2008 | 1 | 560 | $1,390,000 | $1,390,000 | $190,000 | 76 |
3 | 1410 | $3,410,500 | $2,948,000 | $848,000 | 333 | |||
4 | 1647 | $4,010,629 | $3,750,000 | $1,050,000 | 366 | |||
THE SHORE RESIDENCES | 103 yrs from 18/08/2009 | 2014 | 1 | 592 | $1,122,500 | $1,070,000 | -$130,000 | 108 |
2 | 893 | $1,770,648 | $1,700,000 | $200,000 | 269 | |||
3 | 1292 | $2,632,500 | $2,550,000 | $450,000 | 258 | |||
4 | 1378 | $3,070,000 | $3,000,000 | $300,000 | 226 |
We’ve gone ahead and created a “deviation price” column with the formula being [Lowest Transacted] less the starting price for Emerald of Katong for that respective bedroom type.
“Deviation Size” is calculated by looking at the size of the resale condo for the cheapest transaction and subtracting the size of the cheapest bedroom type in Emerald of Katong.
A positive number shows that Emerald of Katong costs less/is smaller and vice-versa.
However, it must be said that this isn’t completely fair because the lowest transacted for the resale condo could be on a high floor. In any case, this is the closest we could get to making a comparison.
At a glance, Emerald of Katong appears to be more affordable. Most figures are positive and by a significant amount too.
The freehold nature of all the other condos is one explanation, however, many of these freehold condos would be about 20+ years older than Emerald of Katong when it obtains its TOP, so it’s still surprising to see such a large gap. Once you see the size deviation though, you’ll understand that resale condos around simpler have more space which is typical for older condos.
The large price gap helps make Emerald of Katong more relevant in this case. When buyers looking for a property in D15 are on a tighter budget, the newer Emerald of Katong will be more favourable due to its lower price.
With a large price difference, you can see why Emerald of Katong is generating so much hype. The unit that is the least competitive seems to be the 1-bedder as the prices do not stray far from what’s offered around.
An example with Amber Park
Amber Park is the newest kid on the block to have obtained TOP. It’s got a lot going for it – freehold, near an MRT and an acceptable price tag due to its small size. This makes it very relevant and competitive in the area as buyers who want something modern and functional will find it at Amber Park for not that much more than a condo that’s 20 years old.
Now how does this compare to Emerald of Katong?
In terms of the 1 bedroom unit, Emerald of Katong is not very competitive. It has a starting price of $1,200,000. The average price at Amber Park is $1,336,500 which is just 11.3% more. This is because Amber Park has a smaller unit.
Emerald of Katong may have the study portion, but we’ve seen how small it is such that those who want a proper study may not even consider that a real plus point. Amber Park is also closer to the MRT and it’s freehold. As such, just like with our new launch analysis, the 1 bedroom at Emerald of Katong is not as strong a contender if we compare it with other condos.
The cheapest 1 bedroom at Amber Park that sold for $1,388,000 is quite high up at level 20 and also comes with an ensuite study:
It certainly looks more cramped, especially the dining area. But if we consider that it is a high-floor unit, the fact that the study size is about the same and that it’s freehold/closer to the MRT, then it could be harder to justify the price of Emerald of Katong for some buyers.
Freehold Haig Court opposite has a 4-bedder that went for $3 million
Those who appreciate freehold properties may be looking at Haig Court. The 20-year-old condo is opposite Emerald of Katong, making it very similar in terms of location. In August 2024, a 6th floor 1,550 sq ft 4 bedroom sold for $3 million. Note that this is the starting price of the 4-bedroom premium at Emerald of Katong.
Here’s what Haig Court’s 4 bedder looks like:
This 4 bedroom layout is fully functional. It comes with a WC, a store, a utility room, a spacious yard and kitchen, and a large living area (there’s no balcony). The master bedroom also features a bathtub.
The 4-bedroom at Emerald of Katong is similar but has a much smaller yard. It has both a store and a household shelter as well but a narrower kitchen and a smaller living space. However, all of the common bedrooms are of similar size here, unlike in Haig Court.
Unless you need at least a queen-sized bed in all bedrooms, the layout in Haig Court is practical. In this case, you’ll be paying $3 million for a freehold but more dated-looking condo and home as compared to a brand-new condo. Also, you’ll likely need to do some renovation to modernise the home at a $3 million price tag.
Since both layouts are quite similar and rather practical on both ends, buyers with a $3 million budget just have to decide between whether they want freehold and more space (albeit with more renovation costs) over a modern development and unit. This choice isn’t easy to make, and in the short-term, not having much of a price difference does tilt this in the favour of Emerald of Katong.
The Shore Residences (leasehold) also has a 4-bedroom that sold for $3 million
Being leasehold, a concern is whether the condo would be seen favourably over other freehold condos in the area. In this case, The Shorefront Residences is worth looking into. The development has a lease start year of 2009, though it is 103 years since (not 99). As such, it has 88 years left on the lease. It’s a 7-minute walk to the nearest MRT too, so in terms of walking time, it’s slightly longer than Emerald of Katong. It’s also near Marine Parade MRT, which is one stop further from the CBD compared to Tanjong Katong MRT, the closest station to Emerald of Katong.
In October 2024, a 13th-floor 1,378 sq ft unit sold for $3 million. It also has a view of the landed homes in the vicinity.
Here’s what the unit looks like:
The 4-bedroom unit is rather compact, however, it is still similar in functionality in that it has a household shelter, WC, yard and a wet/dry kitchen. The big difference here is the much more compact 4-bedroom unit. Another is the rather narrow depth of the living/dining area – the balcony is almost the same size! It’s also located on the 13th floor, so it should be slightly more affordable if we bring it down to the lower floors.
Considering a mid-floor 4-bedroom unit transacted for $3 million and it’s already 11 years past its lease, Emerald of Katong’s $3 million price tag does look quite favourable even if it’s from the ground floor. However, The Shore Residence is closer to the main amenities in Katong.
Judging from resale comparables around, it seems that Emerald of Katong’s price is attractive – assuming the price staging isn’t aggressive.
Now that we’ve covered how prices are relative to the 3 other new launches as well as comparable resale condos in the area, let’s take a look at where it stands in today’s new launch context.
Emerald of Katong 1 bedroom new launch comparison
Project Name | Tenure | Area | Lowest Asking |
Kassia | Freehold | Pasir Ris | $1,023,000 |
The Collective At One Sophia | 99 yrs from 6/12/2023 | Rochor | $1,143,000 |
Emerald of Katong | 99 yrs | Marine Parade | $1,200,000 |
SORA | 99 yrs from 30/08/2023 | Jurong East | $1,270,000 |
Lentoria | 99 yrs from 19/12/2022 | Ang Mo Kio | $1,299,000 |
The LakeGarden Residences | 99 yrs from 31/05/2023 | Jurong East | $1,315,500 |
Lentor Hills Residences | 99 yrs from 25/04/2022 | Ang Mo Kio | $1,334,000 |
The Myst | 99 yrs from 11/05/2023 | Bukit Panjang | $1,342,000 |
Hill House | 999 yrs from 01/07/1841 | River Valley | $1,372,000 |
Union Square Residences | 99 yrs | Singapore River | $1,380,000 |
Tembusu Grand | 99 yrs from 25/04/2022 | Marine Parade | $1,409,000 |
Claydence | Freehold | Geylang | $1,412,200 |
TMW Maxwell | 99 yrs from 28/04/2023 | Outram | $1,420,000 |
Grand Dunman | 99 yrs from 12/09/2022 | Marine Parade | $1,428,000 |
10 Evelyn | Freehold | Novena | $1,431,500 |
Hillock Green | 99 yrs from 19/12/2022 | Ang Mo Kio | $1,483,000 |
The Continuum | Freehold | Geylang | $1,494,000 |
One Bernam | 99 yrs from 10/12/2019 | Downtown Core | $1,515,000 |
8@BT | 99 yrs | Bukit Timah | $1,565,000 |
Midtown Bay | 99 yrs from 02/01/2018 | Downtown Core | $1,588,000 |
Grange 1866 | Freehold | River Valley | $1,595,000 |
Midtown Modern | 99 yrs from 10/12/2019 | Downtown Core | $1,638,000 |
Canninghill Piers | 99 yrs from 17/09/2021 | Singapore River | $1,712,000 |
Cuscaden Reserve | 99 yrs from 14/08/2018 | Orchard | $1,999,000 |
In terms of 1-bedroom pricing, Emerald of Katong stands out as being the 3rd most affordable today. Even if the prices staged up to $1.3+, it would still be on par with what other new launches like The Myst or Lentor Hills Residences are asking for.
Tembusu Grand right now has a 1+ study going for $1,409,000 (#18-20). #02-20 was sold for $1,258,000. You can see that prices were staged at roughly $10,000 per floor. If Tembusu Grand does stage prices up similarly, then Emerald of Katong would be about 5% cheaper than Tembusu Grand.
In any case, those who are looking at Tembusu Grand 1 bedders aren’t left with many options, with only 18 out of 117 1 bedders remaining. So with Emerald of Katong being more affordable, it’s likely that these units would be picked up quite fast.
Emerald of Katong 2 bedroom new launch comparison
Project Name | Tenure | Area | Lowest Asking |
Nava Grove | 99 yrs | Bukit Timah | $1,388,000 |
Kassia | Freehold | Pasir Ris | $1,401,000 |
The Shorefront | 999 yrs from 27/11/1937 | Pasir Ris | $1,471,000 |
Jansen House | 999 yrs from 01/09/1876 | Hougang | $1,499,000 |
Emerald of Katong | 99 yrs | Marine Parade | $1,500,000 |
Hillock Green | 99 yrs from 19/12/2022 | Ang Mo Kio | $1,534,000 |
SORA | 99 yrs from 30/08/2023 | Jurong East | $1,543,000 |
Chuan Park | 99 yrs | Serangoon | $1,550,000 |
The LakeGarden Residences | 99 yrs from 31/05/2023 | Jurong East | $1,554,300 |
The Myst | 99 yrs from 11/05/2023 | Bukit Panjang | $1,559,000 |
Hillhaven | 99 yrs from 13/02/2023 | Bukit Batok | $1,569,392 |
Lentoria | 99 yrs from 19/12/2022 | Ang Mo Kio | $1,640,000 |
Orchard Sophia | Freehold | Rochor | $1,694,300 |
The Collective @ One Sophia | 99 yrs | Rochor | $1,709,000 |
Bartley Vue | 99 yrs from 13/04/2020 | Toa Payoh | $1,725,000 |
Pinetree Hill | 99 yrs from 12/09/2022 | Bukit Timah | $1,758,000 |
The Arcady at Boon Keng | Freehold | Kallang | $1,758,000 |
Koon Seng House | Freehold | Geylang | $1,807,000 |
Claydence | Freehold | Geylang | $1,807,800 |
The Continuum | Freehold | Geylang | $1,877,000 |
8@BT | 99 yrs | Bukit Timah | $1,881,000 |
Terra Hill | Freehold | Queenstown | $1,884,000 |
The Hillshore | Freehold | Queenstown | $1,890,000 |
Hill House | 999 yrs from 01/07/1841 | River Valley | $1,937,000 |
Grand Dunman | 99 yrs from 12/09/2022 | Marine Parade | $1,964,000 |
One Bernam | 99 yrs from 10/12/2019 | Downtown Core | $1,987,000 |
Union Square Residences | 99 yrs | Singapore River | $1,998,000 |
Tembusu Grand | 99 yrs from 25/04/2022 | Marine Parade | $2,102,000 |
Grange 1866 | Freehold | River Valley | $2,285,000 |
10 Evelyn | Freehold | Novena | $2,292,650 |
Midtown Bay | 99 yrs from 02/01/2018 | Downtown Core | $2,308,000 |
TMW Maxwell | 99 yrs from 28/04/2023 | Outram | $2,404,000 |
Cuscaden Reserve | 99 yrs from 14/08/2018 | Orchard | $2,565,000 |
Atlassia | Freehold | Geylang | $3,059,028 |
Boulevard 88 | Freehold | Orchard | $4,785,000 |
As for the 2-bedroom, Emerald of Katong will offer the 5th most affordable 2-bedroom in the new launch market. Given its location and walking distance to Tanjong Katong MRT, prices here seem quite compelling.
You can see that SORA which is much further from the MRT is asking for slightly more. This is for the 14th floor 667 sq ft unit. The 3rd-floor unit sold for $1,341,000 which is only $159,000 cheaper than a Tanjong Katong new launch within walking distance to the MRT.
And when it comes to new launches within walking distance of the MRT, none of the more affordable options are close to one. They’re all pretty far out.
Emerald of Katong 3 bedroom new launch comparison
Project Name | Tenure | Area | Lowest Asking |
North Gaia | 99 yrs from 15/02/2021 | Yishun | $1,228,000 |
Lumina Grand | 99 yrs from 27/12/2022 | Bukit Batok | $1,364,000 |
The Shorefront | 999 yrs from 27/11/1937 | Pasir Ris | $1,739,000 |
The Arden | 99 yrs from 14/07/2023 | Bukit Batok | $1,837,000 |
Kassia | Freehold | Pasir Ris | $1,838,000 |
The Myst | 99 yrs from 11/05/2023 | Bukit Panjang | $1,891,000 |
Jansen House | 999 yrs from 01/09/1876 | Hougang | $1,988,000 |
Lentoria | 99 yrs from 19/12/2022 | Ang Mo Kio | $1,988,000 |
Hillhaven | 99 yrs from 13/02/2023 | Bukit Batok | $2,008,917 |
SORA | 99 yrs from 30/08/2023 | Jurong East | $2,073,000 |
Mori | Freehold | Geylang | $2,093,000 |
Emerald of Katong* | 99 yrs | Marine Parade | $2,100,000 |
The Botany at Dairy Farm | 99 yrs from 08/06/2022 | Bukit Panjang | $2,112,000 |
Hillock Green | 99 yrs from 19/12/2022 | Ang Mo Kio | $2,116,000 |
Chuan Park* | 99 yrs | Serangoon | $2,150,000 |
Bartley Vue | 99 yrs from 13/04/2020 | Toa Payoh | $2,163,000 |
Hill House | 999 yrs from 01/07/1841 | River Valley | $2,218,000 |
Nava Grove | 99 yrs | Bukit Timah | $2,188,000 |
The LakeGarden Residences | 99 yrs from 31/05/2023 | Jurong East | $2,233,400 |
Sceneca Residence | 99 yrs from 10/02/2021 | Bedok | $2,248,000 |
Lentor Mansion | 99 yrs from 11/07/2023 | Ang Mo Kio | $2,307,000 |
Terra Hill | Freehold | Queenstown | $2,376,000 |
The Continuum | Freehold | Geylang | $2,377,000 |
Koon Seng House | Freehold | Geylang | $2,387,000 |
The Arcady at Boon Keng | Freehold | Kallang | $2,390,000 |
Lentor Hills Residences | 99 yrs from 25/04/2022 | Ang Mo Kio | $2,424,000 |
Grand Dunman | 99 yrs from 12/09/2022 | Marine Parade | $2,458,000 |
Claydence | Freehold | Geylang | $2,474,800 |
Tembusu Grand | 99 yrs from 25/04/2022 | Marine Parade | $2,648,000 |
The Hillshore | Freehold | Queenstown | $2,670,000 |
Pinetree Hill | 99 yrs from 12/09/2022 | Bukit Timah | $2,671,000 |
Atlassia | Freehold | Geylang | $2,804,578 |
8@BT | 99 yrs | Bukit Timah | $2,813,000 |
Union Square Residences | 99 yrs | Singapore River | $2,820,000 |
The Collective @ One Sophia | 99 yrs | Rochor | $2,845,000 |
J’den | 99 yrs from 30/08/2023 | Jurong East | $2,970,000 |
Enchante | Freehold | Novena | $3,398,700 |
10 Evelyn | Freehold | Novena | $3,416,000 |
Ikigai | Freehold | Novena | $3,465,280 |
Canninghill Piers | 99 yrs from 17/09/2021 | Singapore River | $3,652,000 |
One Bernam | 99 yrs from 10/12/2019 | Downtown Core | $3,800,000 |
Cuscaden Reserve | 99 yrs from 14/08/2018 | Orchard | $3,848,000 |
Midtown Bay | 99 yrs from 02/01/2018 | Downtown Core | $4,714,000 |
Watten House | Freehold | Bukit Timah | $5,038,000 |
Klimt Cairnhill | Freehold | Newton | $5,128,000 |
The Giverny Residences | Freehold | Bukit Timah | $5,497,000 |
The Botany at Dairy Farm has 3 bedroom units for sale and it’s asking for $2.112 million. It’s located on the 14th floor and is just 883 sq ft (typical compact 3 bedder).
Next to Emerald of Katong, the pricing does stick out. Considering its vastly different location being further from the city, Is Emerald of Katong too low? Or is The Botany at Dairy Farm too high?
September 2024 saw a 12th-floor unit going for $2,048,000 for a 3 bedder that’s 883 sq ft in size – so we know that people are willing to pay quite a high price for a development that’s much further out. The development is also closer to its TOP which is estimated to be in 2027 compared to Emerald of Katong which is estimated to TOP in 2029.
Moreover, finding a 3-bedroom new launch below $2 million is not an easy task too so the mindset among buyers has been adjusted to accept such a price.
If we compare this purely from a price standpoint and factoring that it would just be about 2 years before Emerald of Katong is built after The Botany at Dairy Farm, then it’s likely the price gap between both units would widen in Emerald of Katong’s favour.
Emerald of Katong 4 bedroom new launch comparison
Project Name | Tenure | Area | Lowest Asking |
Lumina Grand | 99 yrs from 27/12/2022 | Bukit Batok | $1,650,000 |
North Gaia | 99 yrs from 15/02/2021 | Yishun | $1,682,000 |
Altura | 99 yrs from 20/06/2022 | Bukit Batok | $1,728,000 |
The Arden | 99 yrs from 14/07/2023 | Bukit Batok | $2,193,000 |
Straits at Joo Chiat | Freehold | Bedok | $2,196,520 |
Jansen House | 999 yrs from 01/09/1876 | Hougang | $2,430,000 |
Hillhaven | 99 yrs from 13/02/2023 | Bukit Batok | $2,495,595 |
Kassia | Freehold | Pasir Ris | $2,522,000 |
Norwood Grand | 99 yrs | Woodlands | $2,590,000 |
Lentoria | 99 yrs from 19/12/2022 | Ang Mo Kio | $2,598,000 |
Hillock Green | 99 yrs from 19/12/2022 | Ang Mo Kio | $2,608,000 |
Lentor Mansion | 99 yrs from 11/07/2023 | Ang Mo Kio | $2,676,000 |
The LakeGarden Residences | 99 yrs from 31/05/2023 | Jurong East | $2,693,200 |
Sky Eden@Bedok | 99 years leasehold | Bedok | $2,698,000 |
The Myst | 99 yrs from 11/05/2023 | Bukit Panjang | $2,746,000 |
Emerald of Katong* | 99 yrs | Marine Parade | $2,750,000 |
Koon Seng House | Freehold | Geylang | $2,780,000 |
Lentor Hills Residences | 99 yrs from 25/04/2022 | Ang Mo Kio | $2,787,000 |
The Shorefront | 999 yrs from 27/11/1937 | Pasir Ris | $2,797,000 |
Nava Grove | 99 yrs | Bukit Timah | $2,988,000 |
Sceneca Residence | 99 yrs from 10/02/2021 | Bedok | $3,000,000 |
Chuan Park* | 99 yrs | Serangoon | $3,150,000 |
Pinetree Hill | 99 yrs from 12/09/2022 | Bukit Timah | $3,180,000 |
Tembusu Grand | 99 yrs from 25/04/2022 | Marine Parade | $3,288,000 |
Grand Dunman | 99 yrs from 12/09/2022 | Marine Parade | $3,311,000 |
J’den | 99 yrs from 30/08/2023 | Jurong East | $3,312,000 |
The Continuum | Freehold | Geylang | $3,387,000 |
Blossoms By The Park | 99 yrs from 10/01/2022 | Queenstown | $3,436,000 |
Terra Hill | Freehold | Queenstown | $3,469,000 |
8@BT | 99 yrs | Bukit Timah | $3,613,000 |
Enchante | Freehold | Novena | $3,748,300 |
The Hillshore | Freehold | Queenstown | $3,880,000 |
Union Square Residences | 99 yrs | Singapore River | $4,620,000 |
Watten House | Freehold | Bukit Timah | $4,956,000 |
Claydence | Freehold | Geylang | $4,977,200 |
Canninghill Piers | 99 yrs from 17/09/2021 | Singapore River | $5,544,000 |
AMO Residence | 99 yrs from 30/08/2021 | Ang Mo Kio | $5,588,000 |
Midtown Modern | 99 yrs from 10/12/2019 | Downtown Core | $6,208,000 |
The Arcady at Boon Keng | Freehold | Kallang | $7,387,000 |
Irwell Hill Residences | 99 yrs from 13/04/2020 | River Valley | $9,452,000 |
The Giverny Residences | Freehold | Bukit Timah | $9,566,000 |
32 Gilstead | Freehold | Novena | $13,016,000 |
Emerald of Katong has probably one of the most affordable starting new launch prices for a 4-bedroom unit. If you look at its price and compare it to The Myst which is also within walking distance to an MRT (Cashew MRT), it’s around the same price. The Myst’s cheapest unit on offer now is also on the 1st floor and it’s also a compact 4 bedroom unit that’s 1,453 sq ft in size.
But bear in mind that we are talking about D15 vs D23 here, so we wouldn’t be surprised if the price is staged up more aggressively for the 4-bedroom units.
Emerald of Katong 5 bedroom new launch comparison
Project Name | Tenure | Area | Lowest Asking |
Lumina Grand | 99 yrs | Bukit Batok | $2,130,000 |
Altura | 99 yrs from 20/06/2022 | Bukit Batok | $2,210,000 |
Straits at Joo Chiat | Freehold | Bedok | $3,022,240 |
The Myst | 99 yrs from 11/05/2023 | Bukit Panjang | $3,180,000 |
Lentor Mansion | 99 yrs from 11/07/2023 | Ang Mo Kio | $3,191,000 |
The LakeGarden Residences | 99 yrs from 31/05/2023 | Jurong East | $3,215,500 |
Emerald of Katong | 99 yrs | Marine Parade | $3,550,000 |
Chuan Park* | 99 yrs | Serangoon | $3,750,000 |
Nava Grove | 99 yrs | Bukit Timah | $3,988,000 |
Tembusu Grand | 99 yrs from 25/04/2022 | Marine Parade | $4,028,000 |
Grand Dunman | 99 yrs from 12/09/2022 | Marine Parade | $4,034,000 |
Pinetree Hill | 99 yrs from 12/09/2022 | Bukit Timah | $4,318,000 |
Terra Hill | Freehold | Queenstown | $5,511,000 |
The Continuum | Freehold | Geylang | $5,511,000 |
Watten House | Freehold | Bukit Timah | $7,958,000 |
Canninghill Piers | 99 yrs from 17/09/2021 | Singapore River | $8,904,000 |
Union Square Residences | 99 yrs | Singapore River | $9,288,000 |
Irwell Hill Residences | 99 yrs from 13/04/2020 | River Valley | $11,080,000 |
One Bernam | 99 yrs from 10/12/2019 | Downtown Core | $16,446,000 |
Emerald of Katong presents an opportunity to still get a 5-bedroom unit under $4 million. The 5-bedroom unit at Tembusu Grand is also for a 1st-floor unit, so this huge discount makes Emerald of Katong quite attractive.
Aside from that, it’s only more expensive than 6 other new launches out of a total of 19 on the list, of which 2 are Executive Condominiums. A this rate, we wouldn’t be surprised again if prices were staged up more aggressively.
Conclusion
Throughout this pricing review, we looked at
- How it compare with the 3 neighbouring new launches, down to each bedroom type
- Where it’s positioned when compared to similar resale condos around
- Where it stands in today’s new launch context
After going through all of the comparisons, it’s clear to see that Emerald of Katong’s indicative pricing seems very attractive. The least competitive in our opinion is the 1-bedroom due to its layout. Furthermore, 1-bedroom prices in the area are quite low, and there are many freehold options.
However, the 2-5 bedroom types have an attractive price. If the developer chooses to stage prices up moderately, then there’s certainly upside potential for buyers relative to the overall property market movement.