Is Emerald Of Katong Really A Good Buy? A Detailed Look At Pricing Vs Tembusu Grand And D15 Competitors

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

1. How it compare with the 3 neighbouring new launches, down to each bedroom type
2. Where it’s positioned when compared to similar resale condos around
3. 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.