Should You Buy Chuan Park? A Pricing Review Against The Scala, Amaranda Gardens And New Launches Today

16 min read

With 6 new launch condos launched last weekend, buyers are having a field day (or a very tough time) in picking the right project. While it ultimately comes down to how successful you are with your ballot, it still pays to be sure of the pricing and of your purchase. 

So whether or not prices at Chuan Park make sense depends on how it’s positioning itself in the market, whether these positions hold true and if prices are truly attractive enough.

Here’s a look at the indicative estimated starting price:

Bedroom	Size	Estimated Starting Indicative Price	Estimated Starting $PSF	No. of Units	Proportion
2 Bedroom	700	$1,550,000	$2,214	104	44%
2 Bedroom + Study	732	$1,650,000	$2,254	299
3 Bedroom	915	$2,150,000	$2,350	431	47%
4 Bedroom	1,335	$3,150,000	$2,360	60	7%
5 Bedroom	1,550	$3,750,000	$2,419	22	2%

Being a mega-development consisting of 916 units, Chuan Park’s main appeal lies in:

1. Its convenient access to MRT
2. Its lower maintenance fees due to the large number of units sharing the cost
3. The large variety of facilities due to the large land size

Chuan Park is the most convenient in the area

There’s no doubt that Chuan Park would be the most convenient when it comes to public transport access given it’s right next to Lorong Chuan MRT, however, its neighbouring condos are nearby too:

Thus, while it is a strong attribute for a mega-development, it’s not unique when you compare it to its surrounding neighbours.

Chuan Park has a good variety of facilities, but so does its neighbours

Chuan Park features a pool and multi-purpose court (among other common facilities like function rooms/gym). However, older developments in the area also come with such facilities, although not at the same level in terms of scale and modern aesthetics.

Chuan Park is the largest condo in the immediate area

Here’s the number of units of the surrounding resale condos

Project Name	Units
AMARANDA GARDENS	189
CARDIFF RESIDENCE	163
CHILTERN PARK	500
GOLDENHILL PARK CONDOMINIUM	390
THE CHUAN	106
THE SCALA	468
THE SPRINGBLOOM	372
THE SUNNYDALE	70

The closest here is Chiltern Park which is still close to half of Chuan Park in terms of units. Considering this, it is likely that the maintenance fee would be attractive which is an important factor for families looking in an OCR condo like Chuan Park. 

Now if you’re looking to stay in the area and you’re looking out for a 2 and 3-bedroom unit, what does the supply look like?

Project Name	Units	2 Bedroom	3 Bedroom	Others
AMARANDA GARDENS	189	20	120	49
CARDIFF RESIDENCE	163	49	5	109
CHILTERN PARK	500	316	178	6
GOLDENHILL PARK CONDOMINIUM	390	38	176	176
THE CHUAN	106	19	61	26
THE SCALA	468	219	117	132
THE SPRINGBLOOM	372	90	258	24
THE SUNNYDALE	70	14	52	4
Total	2258	765	967	526

The table above shows an estimate based on information from what we can find. Here’s what the estimated proportion of 2 and 3 bedders in the area looks like:

Bedroom	Resale Supply Proportion
2 Bedroom	34%
3 Bedroom	43%
Total	77%

In total, around 77% of resale condo units in the area are either 2 or 3 bedroom units. This is close to the proportion of 2 and 3 bedders Chuan Park has too. Considering that close to 4 out of 5 units here fall within this range, taking a look at the resale condo growth can demonstrate the relevance of such units in the area.

Chuan Park’s success for investors hinges on the assumption that this mass-market condo focused on families will be seen by families in the resale market as an attractive option.

So let’s validate this statement.

1. Have resale condos around, which similarly have a large 2 and 3-bedroom mix, demonstrated relevance today?
2. Would resale buyers find Chuan Park’s pricing sensible?

Do resale condos in the area demonstrate relevance today?

Here’s a look at their $PSF since 2013:

Year	AMARANDA GARDENS	CARDIFF RESIDENCE	CHILTERN PARK	GOLDENHILL PARK CONDOMINIUM	THE CHUAN	THE SCALA	THE SPRINGBLOOM	THE SUNNYDALE
2013	$1,339		$1,005	$1,405	$1,338	$1,474	$1,121	$949
2014	$1,326	$1,574	$970	$1,364	$1,359	$1,457	$1,040	$966
2015	$1,291	$1,348	$887	$1,307	$1,284	$1,329	$985	$966
2016		$1,382	$869	$1,273	$1,328	$1,434	$1,014	$890
2017	$1,318	$1,209	$923	$1,355	$1,350	$1,373	$1,014	$857
2018	$1,392	$1,345	$1,047	$1,505	$1,487	$1,438	$1,091	$951
2019	$1,487	$1,384	$994	$1,495	$1,492	$1,464	$1,045	$983
2020	$1,501	$1,319	$994	$1,540	$1,480	$1,394	$1,044	$897
2021	$1,535	$1,317	$1,109	$1,596	$1,663	$1,519	$1,113	$1,033
2022	$1,718	$1,299	$1,227	$1,809	$1,748	$1,651	$1,261	$1,171
2023	$1,981	$1,548	$1,347	$1,964	$2,080	$1,688	$1,421	$1,164
2024	$2,075	$1,578	$1,441	$2,159	$2,119	$1,807	$1,528	$1,353
ROI (2019 – 2024)	6.89%	2.66%	7.71%	7.63%	7.26%	4.30%	7.89%	6.60%

Every condo punched above a 4% ROI except for Cardiff Residence which fell and only returned close to its original price point in 2023. This happens to also be a condo with a large mix of 1 bedroom units and the smallest proportion of 2 and 3 bedders in the area.

This is useful as it seems that having a large proportion of 2 and 3-bedders has done well for its resale peers and it’s in line with the unit mix at Chuan Park.

Is Chuan Park’s pricing sensible?

Here’s how prices of resale condos fared in the past year:

Project Name	Tenure	Completion	1 Bedroom	2 Bedroom	3 Bedroom	4 Bedroom
AMARANDA GARDENS	Freehold	2004		$2,080,000	$2,469,600	$3,176,290
CARDIFF RESIDENCE	99 yrs from 04/11/2011	2014	$669,500	$860,000	$1,420,000
CHILTERN PARK	99 yrs from 01/03/1991	1995		$1,337,500	$1,881,791
GOLDENHILL PARK CONDOMINIUM	Freehold	2004		$2,006,667	$2,915,000
THE CHUAN	999 yrs from 21/06/1877	2007			$2,900,000	$3,210,000
THE SCALA	99 yrs from 06/01/2010	2013	$876,833	$1,683,167
THE SPRINGBLOOM	99 yrs from 01/03/1995	1999		$1,540,000	$2,101,975
THE SUNNYDALE	99 yrs from 06/12/1997	2001			$1,820,000

And here’s what the average sizes are based on transaction data:

Project Name	1 Bedroom	2 Bedroom	3 Bedroom	4 Bedroom
AMARANDA GARDENS		1,044	1,201	1,464
CARDIFF RESIDENCE	409	603	1,087
CHILTERN PARK		931	1,316
GOLDENHILL PARK CONDOMINIUM		929	1,324
THE CHUAN			1,367	1,528
THE SCALA	495	968
THE SPRINGBLOOM		1,130	1,350
THE SUNNYDALE			1,346

Chuan Park’s 2 bedroom has an estimated starting indicative price of $1,550,000. This is on par or lower than most condos that transacted in the area. Older condos such as The Springbloom, Goldenhill Park Condominium and Amaranda Gardens have a much larger area, often having features like a separate dining, yard or a household shelter in the layout. The larger size of the resale condos results in a lower $PSF but a similar or higher quantum.

The new launch market has demonstrated that consumers have a strong preference for a more modern condo while accepting a smaller but more efficient layout – Chuan Park in this case is yet another example.

Cardiff Residence offers 2 bedroom units at almost half the starting price – but is this a concern?

One exception here is Cardiff Residence which clocked in $860,000 on average with a small 2-bedroom size of 603 sq ft. 

First off, Cardiff Residence isn’t quite as convenient as Chuan Park. In fact, it’s the furthest out in the cluster – about a 7-8 minute sheltered walk to the Lorong Chuan. That’s a decent amount of time to reach the MRT, but if we’re looking at the price, then this is one reason why it commands a lower price.

Next, it is currently 10 years old and is set to be about 14 years older when Chuan Park obtains its TOP. It’s also not a mass-market development, housing just 163 units up to 5 floors across the blocks. And of course in terms of facilities, it’s not as varied as what bigger developments provide:

As such from the unit mix, you can see that this condo was geared towards singles or couples rather than families. The large mix of 1-bedroom units positions this development as a different proposition to Chuan Park. It’s a good and more affordable option for singles/couples who wish to stay in the area and access amenities all around without a hefty price tag (Google reviews also paint a very positive light on the development).

However, while the price is attractive, it’s not comparable to Chuan Park as it is a different offering altogether. 

If you consider the floor plan, you’ll also find that the space is quite tight even for a family with 1 child. A 3-room HDB is, on average, around 67 sqm. It’s also worth noting that at 603 sq ft, the unit only comes with 1 bathroom so it’s also not a completely fair comparison to the smallest 2 bedroom at Chuan Park since that’s a 2-bedroom 2-bathroom unit:

What about The Scala, a resale condo closer to Lorong Chuan MRT?

The Scala is located right next to Lorong Chuan MRT, making it more comparable to Chuan Park (as compared to Cardiff Residence). It’s also one of the newest in the area as it was built in 2013, making it around 11 years old now. The development is quite big, housing 468 units of which over 300 are a mix of 2 and 3 bedroom units.

The condo also comes with a tennis court and a large pool as seen in the site plan. In the past year, there were 18 transactions at The Scala – but none for 3 bedroom units. If we exclude a penthouse unit (to avoid distorting prices), then the average 2 bedroom costs $1.655 million which is more than the lowest-cost 2 bedroom at Chuan Park.

A comparable 2-bedroom unit would be the 850 sq ft one that went for $1.51 million in May 2024:

There’s a household shelter, a large balcony stretching to the aircon ledge and a small common bedroom that only fits a single bed. The space isn’t the most efficient in this case, as the household shelter here makes it inflexible plus a balcony that is not very usable due to its long shape. Now let’s look at the 2-bedroom at Chuan Park:

Chuan Park may be smaller at 700 sq ft, but the layout is almost as practical due to its efficiency.

Considering it’s 11 years newer and the overall price is around what The Scala is charging, Chuan Park’s pricing for the 2 bedroom is considered attractive.

This is one of the things that we look out for to determine if the layout vs pricing makes sense. So if it’s smaller compared to its competitors but more efficient and results in a lower or similar price point to older condos around, then it would be a sensible purchase at those prices.

Another point to note is that nearby Chuan Park are other vacant residential plots that could see more new launches coming up. These new launches will likely take into account better efficiencies as developers continue to adjust to consumer tastes/preferences. 

Amaranda Gardens is freehold and has gone for $2.48 million for a 3-bedroom unit

While Chuan Park’s smallest 3 bedroom is still cheaper at $2.15m (estimated), we also can’t ignore the fact that Amaranda Gardens is freehold and has a 3-bedroom unit that is bigger. For example, a 1,163 sq ft unit transacted for $2.48 million in May 2024:

The unit is a full-fledged 3 bedder that comes with a separate living and dining area, a household shelter, a small store, a yard, WC and an enclosed kitchen. There’s even a bathtub in the master bedroom and while each common bedroom features a single bed with side tables, you could likely squeeze a queen-sized bed in there.

For someone looking at a family home, this could make sense. The condo also performed well in the last market cycle, averaging a 6.60% ROI annually since 2019.

Looking at the site plan, you’ll also see that there are 2 tennis courts, a multi-purpose court, a large pool and a large playground area. This is very suitable for families. Its smaller number of units (just 189 in total) means greater exclusivity too. It has over 100 3-bedroom units here and it’s just a 5-minute walk to Lorong Chuan MRT.

The development has a dated design but from what we can see online, the condo is well-maintained, so those who aren’t particular about modern living would find this suitable.

Right now, Chuan Park’s indicative starting prices are at $2.1+ million for its smallest 3 bedroom unit. This is on the low end of what new launches in OCR are asking for when it comes to a 3 bedroom now.

The compact 3-bedder is of a regular layout. The premium version is 1,023 sq ft and if we used the same starting $PSF, the price of the comparable deluxe layout would come to around $2.4 million too. Here’s what the deluxe layout looks like:

In other words, you’ll be paying about the same amount or slightly more for a similar layout at a freehold condo around 5 minutes away.

This option could be more subjective, depending on your exit strategy as this development is 20 years older than Chuan Park. In practice, it is common to see new leasehold properties cost more than freehold ones just due to their age.

It’s more likely that Amaranda Gardens would be seen as more attractive now that there is a leasehold condo that’s similar in terms of prices.

Chuan Park has the advantage in that resale condos around are not very comparable

After looking through the examples above and looking at the data, you’ll find that resale condos around are either:

1. Different in terms of overall offering – in the case of Cardiff Residence, it’s not geared towards families and has fewer units
2. Of a much larger size, so the overall cost is much higher than what’s on offer at Chuan Park.
3. Much older and so this is reflected in the price as Singaporeans have shown to be able to pay a premium for something new.

Therefore, in the resale market, we can see why the current indicative prices at Chuan Park are sensible.

Now if you’re looking for a new launch condo only, here’s where Chuan Park stands.

Compared to other 2-bedroom new launches

Project Name	Tenure	Area	Lowest Asking	Near MRT
Nava Grove	99 yrs	Bukit Timah	$1,388,000	Not Near
Kassia	Freehold	Pasir Ris	$1,401,000	Not Near
The Shorefront	999 yrs from 27/11/1937	Pasir Ris	$1,471,000	Not Near
Jansen House	999 yrs from 01/09/1876	Hougang	$1,499,000	Not Near
Hillock Green	99 yrs from 19/12/2022	Ang Mo Kio	$1,534,000	Lentor
SORA	99 yrs from 30/08/2023	Jurong East	$1,543,000	Not Near
Chuan Park	99 yrs	Serangoon	$1,550,000	Lorong Chuan
The LakeGarden Residences	99 yrs from 31/05/2023	Jurong East	$1,554,300	Not Near
The Myst	99 yrs from 11/05/2023	Bukit Panjang	$1,559,000	Cashew
Hillhaven	99 yrs from 13/02/2023	Bukit Batok	$1,569,392	Lentor
Lentoria	99 yrs from 19/12/2022	Ang Mo Kio	$1,640,000	Lentor
Orchard Sophia	Freehold	Rochor	$1,694,300	Dhoby Ghaut
Bartley Vue	99 yrs from 13/04/2020	Toa Payoh	$1,725,000	Bartley
Pinetree Hill	99 yrs from 12/09/2022	Bukit Timah	$1,758,000	Not Near
The Arcady at Boon Keng	Freehold	Kallang	$1,758,000	Boon Keng
Koon Seng House	Freehold	Geylang	$1,807,000	Not Near
Claydence	Freehold	Geylang	$1,807,800	Not Near
The Continuum	Freehold	Geylang	$1,849,000	Not Near
8@BT	99 yrs	Bukit Timah	$1,881,000	Beauty World
Terra Hill	Freehold	Queenstown	$1,884,000	Pasir Panjang
The Hillshore	Freehold	Queenstown	$1,890,000	Haw Par Villa
Hill House	999 yrs from 01/07/1841	River Valley	$1,937,000	Not Near
Grand Dunman	99 yrs from 12/09/2022	Marine Parade	$1,964,000	Dakota
One Bernam	99 yrs from 10/12/2019	Downtown Core	$1,987,000	Prince Edward Road / Tanjong Pagar
Tembusu Grand	99 yrs from 25/04/2022	Marine Parade	$2,102,000	Not Near
Grange 1866	Freehold	River Valley	$2,285,000	Not Near
10 Evelyn	Freehold	Novena	$2,292,650	Newton
Midtown Bay	99 yrs from 02/01/2018	Downtown Core	$2,308,000	Bugis
TMW Maxwell	99 yrs from 28/04/2023	Outram	$2,404,000	Maxwell
Cuscaden Reserve	99 yrs from 14/08/2018	Orchard	$2,565,000	Orchard Boulevard
Atlassia	Freehold	Geylang	$3,059,028	Not Near
Boulevard 88	Freehold	Orchard	$4,785,000	Orchard Boulevard

At a starting price of $1.5+ million, Chuan Park can be said to be attractive in today’s market.

The closest in price to Chuan Park now for 2 bedders that’s also close to the MRT is Hillock Green.

While both locations offer different things, District 19 is certainly more mature than the Lentor Area given the numerous malls around. Of course, we can’t ignore that the mall in Lentor Modern would be useful, but residents of Chuan Park would have a greater variety of places to visit nearby rather than be restricted to one mall.

Moreover, Chuan Park has got 5 primary schools within a 1km radius based on OneMap’s data:

In comparison, condos in the Lentor area would be within 1km of just 1 school based on what we can see on OneMap – Anderson Primary.

This is an important factor for families in which Chuan Park caters.

Nava Grove is also an attractive option for small families. It is in a completely different location and it’s not near an MRT, but if you’re a small family with a car looking at a more affordable option with upside potential, then Nava Grove does have competitive pricing in the area. Like Chuan Park, Nava Grove doesn’t have much of a resale comparison too and it’s priced well against its main competitor, Pinetree Hill. The only issue is the uncertainty of Henry Park Primary within the 1 km radius.

Compared to other 3-bedroom new launches

Project Name	Tenure	Area	Lowest Asking	Near MRT
North Gaia	99 yrs from 15/02/2021	Yishun	$1,228,000	Not Near
Novo Place	99 yrs	Tengah	$1,300,000	Tengah Park
Lumina Grand	99 yrs from 27/12/2022	Bukit Batok	$1,364,000	Not Near
The Shorefront	999 yrs from 27/11/1937	Pasir Ris	$1,739,000	Not Near
The Arden	99 yrs from 14/07/2023	Bukit Batok	$1,837,000	Not Near
Kassia	Freehold	Pasir Ris	$1,838,000	Not Near
The Myst	99 yrs from 11/05/2023	Bukit Panjang	$1,891,000	Cashew
Jansen House	999 yrs from 01/09/1876	Hougang	$1,988,000	Not Near
Lentoria	99 yrs from 19/12/2022	Ang Mo Kio	$1,988,000	Lentor
Hillhaven	99 yrs from 13/02/2023	Bukit Batok	$2,008,917	Lentor
SORA	99 yrs from 30/08/2023	Jurong East	$2,073,000	Not Near
Mori	Freehold	Geylang	$2,093,000	Not Near
The Botany at Dairy Farm	99 yrs from 08/06/2022	Bukit Panjang	$2,112,000	Not Near
Hillock Green	99 yrs from 19/12/2022	Ang Mo Kio	$2,116,000	Lentor
Chuan Park	99 yrs	Serangoon	$2,150,000	Lorong Chuan
Bartley Vue	99 yrs from 13/04/2020	Toa Payoh	$2,163,000	Bartley
Nava Grove	99 yrs	Bukit Timah	$2,188,000	Not Near
Hill House	999 yrs from 01/07/1841	River Valley	$2,218,000	Not Near
The LakeGarden Residences	99 yrs from 31/05/2023	Jurong East	$2,233,400	Not Near
Sceneca Residence	99 yrs from 10/02/2021	Bedok	$2,248,000	Not Near
Lentor Mansion	99 yrs from 11/07/2023	Ang Mo Kio	$2,307,000	Lentor
Terra Hill	Freehold	Queenstown	$2,376,000	Pasir Panjang
The Continuum	Freehold	Geylang	$2,377,000	Not Near
Koon Seng House	Freehold	Geylang	$2,387,000	Not Near
The Arcady at Boon Keng	Freehold	Kallang	$2,390,000	Boon Keng
Lentor Hills Residences	99 yrs from 25/04/2022	Ang Mo Kio	$2,424,000	Lentor
Grand Dunman	99 yrs from 12/09/2022	Marine Parade	$2,458,000	Dakota
Claydence	Freehold	Geylang	$2,474,800	Not Near
Tembusu Grand	99 yrs from 25/04/2022	Marine Parade	$2,648,000	Not Near
The Hillshore	Freehold	Queenstown	$2,670,000	Haw Par Villa
Pinetree Hill	99 yrs from 12/09/2022	Bukit Timah	$2,671,000	Not Near
Atlassia	Freehold	Geylang	$2,804,578	Not Near
8@BT	99 yrs	Bukit Timah	$2,813,000	Beauty World
J’den	99 yrs from 30/08/2023	Jurong East	$2,970,000	Jurong East
Enchante	Freehold	Novena	$3,398,700	Newton
10 Evelyn	Freehold	Novena	$3,416,000	Newton
Ikigai	Freehold	Novena	$3,465,280	Not Near
Canninghill Piers	99 yrs from 17/09/2021	Singapore River	$3,652,000	Fort Canning
One Bernam	99 yrs from 10/12/2019	Downtown Core	$3,800,000	Prince Edward Road / Tanjong Pagar
Cuscaden Reserve	99 yrs from 14/08/2018	Orchard	$3,848,000	Orchard Boulevard
Midtown Bay	99 yrs from 02/01/2018	Downtown Core	$4,714,000	Bugis
Watten House	Freehold	Bukit Timah	$5,038,000	Not Near
Klimt Cairnhill	Freehold	Newton	$5,128,000	Newton
The Giverny Residences	Freehold	Bukit Timah	$5,497,000	Stevens

There aren’t many options below $2 million dollars for a 3 bedroom condo. So far, the 3 ECs top the list as expected. Next is The Shorefront which is very remote and not comparable at all to Chuan Park.

The next new launch that’s close to an MRT is The Myst, which is about a 5-minute walk to Cashew MRT (Downtown Line). Today, you can buy a 3-bedroom at $1.891 million which is attractive in the new launch context.

However, it’s again in a very different location. The median $PSF for resale transactions in 2024 around Cashew MRT was $1,488 psf. For Lorong Chuan MRT, the median $PSF for resale transactions around was $1,712, making it 15% more expensive.

Another option is Bartley Vue. This development has 115 units and a good mix of 2 to 4 bedroom units. It’s got a 30m lap pool, a children’s pool and a playground. It is also quite different as it’s not a mega-development like Chuan Park, thus it has fewer facilities. There are also more “newer” developments in the area, unlike Chuan Park. Bartley Vue is up against other more modern developments like The Gazania (2022), Botanique at Bartley (2019), Bartley Residences (2016) and Bartley Ridge (2015).

Its current price is fair considering it’s close to the MRT. It’s also quite comparable to Chuan Park since it’s on the same line. However, Chuan Park is much bigger and has fewer resale comparables, so it’ll likely stand out more in that area compared to Bartley Vue. For this reason, we do think that Chuan Park is more attractive.

Compared to other 4-bedroom new launches

Project Name	Tenure	Area	Lowest Asking	Near MRT
Novo Place	99 yrs	Tengah	$1,580,000	Tengah Park
Lumina Grand	99 yrs from 27/12/2022	Bukit Batok	$1,650,000	Not Near
North Gaia	99 yrs from 15/02/2021	Yishun	$1,682,000	Not Near
Altura	99 yrs from 20/06/2022	Bukit Batok	$1,728,000	Not Near
The Arden	99 yrs from 14/07/2023	Bukit Batok	$2,193,000	Not Near
Straits at Joo Chiat	Freehold	Bedok	$2,196,520	Not Near
Jansen House	999 yrs from 01/09/1876	Hougang	$2,430,000	Not Near
Hillhaven	99 yrs from 13/02/2023	Bukit Batok	$2,495,595	Lentor
Kassia	Freehold	Pasir Ris	$2,522,000	Not Near
Norwood Grand	99 yrs	Woodlands	$2,590,000	Woodlands South
Lentoria	99 yrs from 19/12/2022	Ang Mo Kio	$2,598,000	Lentor
Hillock Green	99 yrs from 19/12/2022	Ang Mo Kio	$2,608,000	Lentor
Lentor Mansion	99 yrs from 11/07/2023	Ang Mo Kio	$2,676,000	Lentor
The LakeGarden Residences	99 yrs from 31/05/2023	Jurong East	$2,693,200	Not Near
Sky Eden@Bedok	99 years leasehold	Bedok	$2,698,000	Bedok
The Myst	99 yrs from 11/05/2023	Bukit Panjang	$2,746,000	Cashew
Koon Seng House	Freehold	Geylang	$2,780,000	Not Near
Lentor Hills Residences	99 yrs from 25/04/2022	Ang Mo Kio	$2,787,000	Lentor
The Shorefront	999 yrs from 27/11/1937	Pasir Ris	$2,797,000	Not Near
Nava Grove	99 yrs	Bukit Timah	$2,988,000	Not Near
Sceneca Residence	99 yrs from 10/02/2021	Bedok	$3,000,000	Not Near
Chuan Park	99 yrs	Serangoon	$3,150,000	Lorong Chuan
Pinetree Hill	99 yrs from 12/09/2022	Bukit Timah	$3,180,000	Not Near
Tembusu Grand	99 yrs from 25/04/2022	Marine Parade	$3,288,000	Not Near
The Continuum	Freehold	Geylang	$3,306,000	Not Near
Grand Dunman	99 yrs from 12/09/2022	Marine Parade	$3,311,000	Dakota
J’den	99 yrs from 30/08/2023	Jurong East	$3,312,000	Jurong East
Blossoms By The Park	99 yrs from 10/01/2022	Queenstown	$3,436,000	Buona Vista
Terra Hill	Freehold	Queenstown	$3,469,000	Pasir Panjang
8@BT	99 yrs	Bukit Timah	$3,613,000	Beauty World
Enchante	Freehold	Novena	$3,748,300	Newton
The Hillshore	Freehold	Queenstown	$3,880,000	Haw Par Villa
Watten House	Freehold	Bukit Timah	$4,956,000	Not Near
Claydence	Freehold	Geylang	$4,977,200	Not Near
Canninghill Piers	99 yrs from 17/09/2021	Singapore River	$5,544,000	Fort Canning
AMO Residence	99 yrs from 30/08/2021	Ang Mo Kio	$5,588,000	Not Near
Midtown Modern	99 yrs from 10/12/2019	Downtown Core	$6,208,000	Bugis
The Arcady at Boon Keng	Freehold	Kallang	$7,387,000	Boon Keng
Irwell Hill Residences	99 yrs from 13/04/2020	River Valley	$9,452,000	Great World
The Giverny Residences	Freehold	Bukit Timah	$9,566,000	Stevens
32 Gilstead	Freehold	Novena	$13,016,000	Not Near

The 4 bedroom price also makes sense here given it’s right next to the MRT. Again, it’s priced more than The Myst for the reasons mentioned above.

Expectedly, Grand Dunman is more expensive as it has fewer remaining units – and the $3,311,000 price tag is for a 1st-floor unit for the compact 4 bedder. It’s a 2-minute walk to Dakota MRT which is on the same line but nearer to the CBD than Lorong Chuan MRT, thus explaining the higher price.

It’s also considered to be a city fringe (RCR) and a mega development, housing 1,008 units. In this sense, it’s quite similar to Chuan Park.

However, while Grand Dunman’s 4 bedroom costs more, it is slightly smaller at 1,292 sq ft. Chuan Park starts at 1,335 sq ft which is slightly bigger.

Here’s a look at the 1,292 compact 4-bedroom at Grand Dunman:

Coming in, there’s a small foyer area, a kitchen, a yard, a WC and a household shelter. The rest of the layout is pretty standard, though the dining area looks a little tight.

Now here’s Chuan Park’s smallest 4-bedroom:

Looking at the floor plans, Grand Dunman seems to have a more practical layout. The yard and WC can be quite important for families. The household shelter can also double up as a pantry area to expand the kitchen. This could also contribute to the higher pricing that Grand Dunman is asking for.

Thus from the existing table, we can see that the entry prices of Chuan Park is quite fair in the new launch market for a 4-bedder.

Compared to other 5-bedroom new launches

Project Name	Tenure	Area	Lowest Asking	Near MRT
Lumina Grand	99 yrs	Bukit Batok	$2,130,000	Not Near
Altura	99 yrs from 20/06/2022	Bukit Batok	$2,210,000	Not Near
Straits at Joo Chiat	Freehold	Bedok	$3,022,240	Not Near
The Myst	99 yrs from 11/05/2023	Bukit Panjang	$3,180,000	Cashew
Lentor Mansion	99 yrs from 11/07/2023	Ang Mo Kio	$3,191,000	Lentor
The LakeGarden Residences	99 yrs from 31/05/2023	Jurong East	$3,215,500	Not Near
Chuan Park	99 yrs	Serangoon	$3,750,000	Lorong Chuan
Nava Grove	99 yrs	Bukit Timah	$3,988,000	Not Near
Tembusu Grand	99 yrs from 25/04/2022	Marine Parade	$4,028,000	Not Near
Grand Dunman	99 yrs from 12/09/2022	Marine Parade	$4,034,000	Dakota
Pinetree Hill	99 yrs from 12/09/2022	Bukit Timah	$4,318,000	Not Near
Terra Hill	Freehold	Queenstown	$5,511,000	Pasir Panjang
The Continuum	Freehold	Geylang	$5,511,000	Not Near
Watten House	Freehold	Bukit Timah	$7,958,000	Not Near
Canninghill Piers	99 yrs from 17/09/2021	Singapore River	$8,904,000	Fort Canning
Irwell Hill Residences	99 yrs from 13/04/2020	River Valley	$11,080,000	Great World
One Bernam	99 yrs from 10/12/2019	Downtown Core	$16,446,000	Prince Edward Road / Tanjong Pagar

It’s the same pattern for the 5-bedroom unit. Chuan Park’s 5 bedroom is 1,550 sq ft in size and starts at $3.7+ million. If we compare it to Grand Dunman, you’ll find that it’s about 7% cheaper. However, there are some differences to note. First and more obviously, Grand Dunman is closer to the CBD which we’ve mentioned. However, its layout is also slightly different:

First off, there’s a private lift which brings a higher level of privacy and exclusivity to the unit. For 7% more and being closer to the CBD, this is pretty good. Having a private lift does provide another status of “luxury”, something that buyers of 5 bedroom units could be interested in.

Next, 3 out of 4 of the common bedrooms are ensuite, and 1 of the common bedroom has one just outside, making it very convenient for all residents. The living area is also very wide.

Here’s the 5-bedroom at Chuan Park:

The 5-bedroom doesn’t have a private lift. In this sense, the developers have chosen to sacrifice “luxurious living” for greater affordability. Other ways of making a unit luxurious could be in the increase of ceiling height, bedroom sizes, and kitchen/bathroom sizes. But all this comes at a greater cost.

Whether or not this makes sense depends on the target audience. Chuan Park is located in an area surrounded by many landed homes. However, if we look at the median landed home prices by district in 2024, you’ll see that D19 landed home prices are just below the median landed home prices:

Postal District	Median Price ($)
D17	2,450,000
D22	2,459,000
D25	2,850,000
D18	2,988,888
D12	3,280,000
D27	3,430,000
D23	3,650,000
D16	4,100,000
D20	4,200,000
D26	4,200,000
D19	4,280,000
D05	4,354,444
D28	4,374,000
D13	4,450,000
D14	4,719,000
D15	5,077,500
D02	5,200,000
D21	5,200,000
D08	5,450,000
D09	7,000,000
D03	8,200,000
D10	8,600,000
D11	9,275,000
D04	15,077,500

This price is close to the estimated starting price of a 5 bedroom unit. Considering this, a homeowner cashing out a fully paid landed home can easily purchase a 5-bedroom here without taking on additional loans. In some sense, if the 5-bedroom were more luxurious, it could alienate its target audience. These could include older folks who are asset-rich but cash-poor and want to keep the family together, but don’t wish to put up the cash to do renovation works.

Of course, luxury is one thing, but when it comes to practicality, we can’t say that Chuan Park stands out either. 3 of the bedrooms in Chuan Park have to share 1 bathroom. This is unlike in Grand Dunman where the bathroom to bedroom ratio isn’t as low.

For someone looking to buy a 5-bedroom unit, this 7% difference in price may not matter much especially if we consider those moving in from landed homes nearby.

If we look at The Myst, the 5-bedroom now goes for $3.18 million and it’s on the 2nd floor:

In terms of layout, this more closely matches what Chuan Park has to offer. It doesn’t have a private lift either and 3 common bedrooms have to share 1 bathroom. The dining and living space is combined though, so there are flexible configurations here.

Again, The Myst is in a different location, so its 15% discount compared to Chuan Park makes sense. However, those looking to stay near the MRT but aren’t particular about which MRT it is may find this to be more enticing. After all, it is a $500,000+ difference.

So overall when it comes to new launches, the pricing seems to be fair. It’s priced in such a way that you have options – whether your budget is lower or higher.

Conclusion

We earlier mentioned that Chuan Park’s success hinges on it being a viable condo for families looking to buy a 2 or 3 bedder. When compared to resale condos in the area, Chuan Park does stand out due to its location next to the MRT. Its age stands out among condos in the area as it’s already 10 years newer than the newest condo around. Plus older condos in the area have a larger floor plate, making its quantum more expensive.

In the new launch market, buyers will find that Chuan Park is in line with what the market is priced at now. There are more affordable options if you’re willing to sacrifice being near the MRT, or don’t mind just being in a different location. However, we note that the 4 and 5-bedroom units aren’t as attractive as those in Grand Dunman, and The Myst offers a much lower price point of over $500,000 for a similar layout while still being within walking distance of an MRT.

While we are able to conduct our analysis by looking at the data, it’s still important to consider the actual price at launch and their price disparity. We hope that our analysis will help you in your decision-making. If you’d like to get in touch for a more in-depth consultation, you can do so here.