Should You Buy Norwood Grand? A Pricing Review Comparison With Rosewood And Surrounding Condos

15 min read

There has been a lot of inevitable interest in Norwood Grand, and despite all the talk about prices in Woodlands hitting nearly $2k psf, the reality is also that this is just where the current new launch market is at where you can be one of the cheapest launches around at this price. 

Also, let’s not forget that it has been over a decade since the last launch in Woodlands, so there will certainly be demand here. 

Let’s start by looking at the indicative prices at Norwood Grand:

Indicative Prices

Bedroom Type	Size	Units Available	Proportion	Starting From	Starting Indicative PSF
1 Bedroom + Study	495	31	8.9%	$988,000	$1,996
2 Bedroom	624	77	37.6%	$1,238,000	$1,984
2 Bedroom + Ensuite Study	667	11
2 Bedroom + Study	710	43
3 Bedroom + Study	904	22	25.3%	$1,698,000	$1,923
3 Bedroom Deluxe	872-883	33
3 Bedroom Premium + Study	1044	33
4 Bedroom Deluxe Study	1173	22	28.2%	$2,238,000	$1,908
4 Bedroom Premium + Study	1313 – 1335	76

Norwood Grand’s indicative prices start off at $1,900+, just barely below the $2,000 $PSF mark. Over time, we can expect the average $PSF to be in the low $2,000+ range.

To assess where its price stands today, we have to look at its surroundings holistically. Let’s start with the demand.

Is there demand from HDB upgraders in the north?

Yishun, Sembawang and Woodlands collectively form the North region. This region has a large proportion of HDB dwellers compared to private properties. This naturally leads people to wonder – can HDB upgraders help sustain demand for private properties in the region?

Here’s the number of 3, 4, 5-room and executive flats sold in the region. We looked at these specific flats as they’re more likely to fit an upgrader profile as compared to someone who stays in a 2-room flat:

Region	Estate	3 Room Flats	4 Room Flats	5 Room Flats	Executive Flats	Total	Breakdown By Region
Central	BISHAN	2,352	9,359	5,716	1,561	18,988	195,233
	BUKIT MERAH	15,499	16,598	9,432	42	41,571
	BUKIT TIMAH	439	920	683	380	2,422
	CENTRAL AREA	4,205	3,424	904	6	8,539
	GEYLANG	11,456	9,987	3,594	832	25,869
	KALLANG/WHAMPOA	14,057	12,309	5,478	505	32,349
	MARINE PARADE	3,020	1,798	1,682	0	6,500
	QUEENSTOWN	11,962	9,421	3,981	356	25,720
	TOA PAYOH	15,506	10,783	6,140	846	33,275
East	BEDOK	22,790	20,967	10,499	2,716	56,972	152,984
	PASIR RIS	490	11,641	9,379	7,452	28,962
	TAMPINES	13,816	29,774	17,711	5,749	67,050
North	SEMBAWANG	1,416	11,293	8,518	2,871	24,098	147,385
	WOODLANDS	7,045	29,703	20,790	6,183	63,721
	YISHUN	15,825	30,764	10,414	2,563	59,566
North-East	ANG MO KIO	24,416	14,469	5,949	503	45,337	228,601
	HOUGANG	10,815	26,887	11,080	4,303	53,085
	PUNGGOL	5,187	22,456	16,547	1,126	45,316
	SENGKANG	3,952	31,374	24,208	4,463	63,997
	SERANGOON	4,526	10,227	3,756	2,357	20,866
West	BUKIT BATOK	11,546	18,073	7,402	2,734	39,755	237,955
	BUKIT PANJANG	3,677	16,686	10,420	3,373	34,156
	CHOA CHU KANG	2,462	23,465	15,952	4,762	46,641
	CLEMENTI	11,211	9,023	3,197	618	24,049
	JURONG EAST	6,994	8,186	5,925	1,871	22,976
	JURONG WEST	11,895	29,761	22,215	6,507	70,378
Total		247,999	450,073	255,760	64,751	1,018,583

Notice how the North has the fewest number of units sold. At just 147,385, this pales in comparison to the North-East or West region where numbers are in the 200,000+ zone.

But let’s not forget to also compare it with private properties:

Region	Private Projects*	HDB Units	HDB Units to Private Projects
Central Region	1,789	195,233	109
East Region	438	152,984	349
North East Region	333	228,601	686
North Region	65	147,385	2267
West Region	150	237,955	1586

In the above table, we took the total number of units in the region and divided it by the number of projects to get a ratio that we can then compare across regions.

You’ll see that due to the small number of projects in the North relative to other regions, HDB dwellers in the North have the fewest options to pick from should they choose to stay in the same region.

Now let’s take a look at the historical figures to see how condos in this region have performed so far.

Year	Central Region	East Region	North East Region	North Region	West Region
2013	$1,518	$987	$994	$795	$967
2014	$1,439	$959	$951	$797	$930
2015	$1,439	$942	$936	$803	$916
2016	$1,520	$917	$934	$820	$893
2017	$1,561	$947	$982	$831	$933
2018	$1,641	$1,022	$1,052	$842	$1,011
2019	$1,686	$1,030	$1,054	$825	$1,017
2020	$1,615	$1,017	$1,070	$831	$1,022
2021	$1,676	$1,086	$1,137	$944	$1,137
2022	$1,790	$1,218	$1,274	$1,077	$1,254
2023	$1,873	$1,338	$1,391	$1,208	$1,366
2024	$1,947	$1,419	$1,458	$1,234	$1,435
ROI (13 – 20)	0.9%	0.4%	1.1%	0.6%	0.8%
ROI (20 – 24)	4.8%	8.7%	8.0%	10.4%	8.8%
ROI (13 – 24)	2.3%	3.4%	3.5%	4.1%	3.6%

Over the past 10 years, condos in the north have outperformed during the property upswing and overall since 2013. We did notice that it had a lacklustre performance prior though, inching a 0.6% annualised return during this period, but overall, it still came out tops.

The reason can be attributed to one word: affordability.

As the property market became more expensive, more affordable areas like the North would become more attractive due to their lower prices.

You can also see that projects specifically in Woodlands have done quite well for themselves, seeing annualised returns of up to 10.1% even for a leasehold executive condominium that has a lease start year of 1997:

Project	Type	Tenure	Completion Date	Annual ROI (20 – 24)	2024 Avg $PSF	Nearest MRT	Walking Time
NORTHWAVE	Executive Condominium	99 yrs from 25/05/2015	2019	9.3%	$1,270	Admiralty	16m
BELLEWOODS	Executive Condominium	99 yrs from 12/08/2013	2017	8.9%	$1,230	Admiralty	13m
TWIN FOUNTAINS	Executive Condominium	99 yrs from 19/12/2012	2016	8.2%	$1,229	Woodlands South	11m
FORESTVILLE	Executive Condominium	99 yrs from 06/08/2012	2016	6.3%	$1,119	Woodlands South	15m
WOODHAVEN	Condominium	99 yrs from 07/02/2011	2015	5.9%	$1,259	Woodlands (NSL)	11m
PARC ROSEWOOD	Condominium	99 yrs from 07/09/2011	2014	5.3%	$1,289	Woodlands (NSL)	10m
ROSEWOOD SUITES	Condominium	99 yrs from 25/02/2008	2011	6.1%	$1,028	Woodlands (TEL)	13m
LA CASA	Executive Condominium	99 yrs from 13/09/2004	2008	8.2%	$1,014	Woodlands South	11m
CASABLANCA	Condominium	99 yrs from 02/10/2001	2005	9.2%	$1,063	Woodlands (TEL)	10m
ROSEWOOD	Condominium	99 yrs from 20/06/2000	2003	8.4%	$1,000	Woodlands (TEL)	8m
WOODSVALE	Executive Condominium	99 yrs from 22/09/1997	2000	8.3%	$833	Admiralty	8m
NORTHOAKS	Executive Condominium	99 yrs from 16/12/1997	2000	10.1%	$877	Admiralty	10m
WOODGROVE CONDOMINIUM	Condominium	99 yrs from 17/05/1997	1999	8.8%	$951	Marsiling (NSL)	13m
THE WOODGROVE*	Apartment	99 yrs from 26/06/1996	1998	9.70%		Marsiling (NSL)	13m

**Performance 2020 – 23 only due to lack of 2024 data

Overall, Woodlands condos have fared well. It looks to have strong support from its HDB population and recent times has rewarded homeowners in Woodlands, largely due to its affordability.

However, this is where it gets harder to discern. 

How do resale condos around compare with Norwood Grand?

While starting prices are below the psychological $2,000 psf mark and buyers of Outside of Central Region properties have demonstrated their willingness to pay above $2,000 psf, it’s important to recognise this gap in relation to alternatives in the area.

In the above table, you’ll see that the 2024 $PSF are mostly below $1,300 psf. The highest is Parc Rosewood at an average of $1,289 psf. Parc Rosewood has a higher $PSF than the others as the newest condo and also due to its unit mix where a larger proportion is smaller units compared to the numerous Executive Condominiums around that cater to families.

If we look at the newest ECs, they’re in the $1,100+ to $1,200+ range. By contrast, Norwood Grand is at at least $1,900+ psf, which is quite a bit higher. 

That translates to around a 58-60% premium. But we know that a psf comparison isn’t always an accurate representation, so to investigate further, we looked at transactions in 2024.

What we want to determine is:

1. How has the new to resale gap been so far in 2024 across the CCR, RCR and OCR?
2. How does Norwood Grand’s price gap compare on both an overall and $PSF level by bedroom type?

To make it a fair comparison, we looked at only 99-year leasehold condos that transacted in 2024. We also classified them by size:

• 1 bedders are below 500 sq ft
• 2 bedders are between 500 – 850 sq ft
• 3 bedders are between 850 to 1,100 sq ft
• 4 bedders are between 1,100 to 1,400 sq ft

This resulted in 7,241 data points to look at.

Across the market segment, here’s the average prices transacted in 2024 for new condos:

Market Segment	1BR	2BR	3BR	4BR
CCR	$1,612,063	$2,257,331	$2,277,000	No Data
OCR	No Data	$1,483,095	$1,820,011	$2,285,263
RCR	$1,500,990	$1,911,161	$2,656,682	$3,083,486

Here are the average resale condo prices:

Market Segment	1BR	2BR	3BR	4BR
CCR	$961,000	$1,477,899	$2,146,667	$2,507,000
OCR	$775,577	$1,062,041	$1,416,247	$1,735,683
RCR	$936,541	$1,573,908	$2,172,973	$2,691,097

We then divide these numbers together to get the premium for a new launch condo this year:

Market Segment	1BR	2BR	3BR	4BR
CCR	67.7%	52.7%	6.1%	No Data
OCR	No Data	39.6%	28.5%	31.7%
RCR	60.3%	21.4%	22.3%	14.6%

As you can see, in the OCR, 2 bedders are about 40% higher, 3 bedders are about 29% higher and 4 bedders carry a 32% premium on average. Unfortunately, there is no data for 1-bedders.

So how does Norwood Grand compare with its newer resale condo counterparts?

Planning Area	1BR	2BR	3BR	4BR
Woodlands Resale Avg Prices	$644,990	$884,158	$1,226,551	$1,469,920
Norwood Grand	$988,000	$1,238,000	$1,698,000	$2,238,000
Price Gap	53%	40%	38%	52%

In this case, you’ll find that Norwood Grand’s 2 bedders are in line with the OCR average at its starting estimated $PSF. For the 3-bedder, it is about 10% higher and for the 4-bedroom, it is 20% higher.

While they are still higher and certainly would be more since we’ve used the starting prices and not the average, it’s not quite the same as the 60% premium from the $PSF calculations done above.

Regardless, we cannot deny that the overall price would mean a higher-than-average price gap compared to 2024 transactions in the Outside of Central Region (OCR).

So what does this larger price gap mean?

As we’ve seen over the new launches in the past few years, it is normal to have a premium in $PSF prices, even if it is at a 58% – 60% gap. But at the end of the day, what matters more is the overall quantum. 

Over the past decade, the property market saw a bunch of cooling measures to help stabilise prices. One of which included restrictions to the amount of debt you can take. When banks lend money, they don’t care about the $PSF. They care about the overall price.

Moreover, as the price of land went up, property developers also had to make the space more efficient to ensure greater affordability. As such, while prices on a $PSF level went up, developers found ways to make the unit practical to live in. This led to increased prices on a $PSF level but a disproportionately lower increase to the overall price.

So what does the price gap mean in the context of Norwood Grand?

To understand its price in the lens of say, someone who is upgrading in the area and is looking for someone that’s not too dated, let’s take a look at the newest condo in the area – Northwave.

First, we need to caveat this as Northwave is an executive condominium, and understandably this isn’t a like-for-like comparison. But not all buyers in the market will think that way, hence this was done for those buyers who may be considering. 

In this case, at 358 units it is a similar size to Norwood Grand. It’s also got decent facilities such as a 50m lap pool with a modern finishing, although it doesn’t come with a tennis court. Apart from this, it’s also in a different location in Woodlands – much further from the nearest MRT, which does go some way into explaining its price. 

Here’s a breakdown of the bedroom price and $PSF:

Bedrooms	Avg Price (Total $)	Avg Price ($PSF)
2	$935,804	$1,301
3	$1,271,725	$1,245
4	$1,632,296	$1,289
5	$1,810,000	$1,237

Prices for this EC built in 2019 are quite competitive. For the cheapest 1 bedroom + study in Norwood Grand, you can buy a 2-bedroom unit in Northwave. The average 3-bedroom here gets you a 2-bedroom in Norwood. The average 4-bedroom gets you a 3-bedroom in Norwood. And the 5-bedroom unit is cheaper than the 4-bedroom unit in Norwood Grand.

For families looking to upgrade to a 3-bedroom unit, you can easily purchase a unit in Northwave for about $1.2+ million. For the same unit at Norwood Grand, this would set you back an extra $400k (or 33% more). The floor plans are also quite similar:

When we look at new launches with high $PSF in an area with older developments, their overall price would usually become quite competitive. This is because older condos tend to be bigger and the tradeoffs between space and modernity becomes easier to make.

But now we’re presented with a situation where a relatively modern condo of the same size has a lower $PSF and thus, overall price. In the resale market, some buyers may find this gap hard to justify even if the locations are not the same. 

For those looking to justify the premium, here’s another way to look at it. While Norwood Grand has almost the same number of units, its unit mix is a lot less dense. This is unlike with Executive Condos where its primary purpose as a housing product is to cater to families. Here’s how the density plays out:

BR	Norwood Grand	Persons*	Northwave	Persons*
1	31	31
2	131	393	47	141
3	88	352	259	1036
4	98	490	35	175
5	0	0	17	102
Total	348	1266	358	1454
Space per person (Sq Ft)		123		92

Northwave has more 3-bedroom units. Let’s assume that a 3-bedder houses more people than a 2-bedroom unit, and a 4-bedroom unit would have more than a 3-bedroom and so on. After taking land size into consideration, you’ll see that the ratio between the Space Per Person (sq ft) is about 1.33x, making Norwood Grand about 33% more “private” than Northwave. 

Now that we’ve made the comparison with the newest, let’s take a look at the closest: Rosewood.

Rosewood is an older development with a lease start year of 2003. Its average $psf in 2024 is $1,000, making Norwood Grand around 100% more expensive on a $PSF level. However, it is also within walking distance to an MRT – Woodlands (TEL).

While the development is much older (it would be 30 years its senior), it does come with a decent lap pool, multiple other pools and two tennis courts that supports 437 units.

A recent transaction that occurred in June 2024 was for a 1,173 sq ft on the 4th floor which went for $1.12 million.

This translates to $955 psf.

It’s a full-fledged 3-bedroom unit that comes with a household shelter to store things, a WC, a yard and a long kitchen countertop. All of its bedrooms are decent in size – the master bedroom in particular fits a small study and its bathroom also comes with a bathtub. It’s also got a spacious dining area.

For families looking at greater practicality, its proximity to the MRT, decent facility offerings and practical layout could mean this $1.12 million is an attractive offering as this budget won’t even be able to get you a 2-bedder at Norwood Grand. 

Again, the comparison here isn’t like-for-like given Rosewood is much older.

But we cannot deny its attractive offering relative to a much newer condo – especially if we see this through the lens of an HDB upgrader on a tighter budget as opposed to a buyer who prioritises something new. Considering Woodlands remains one of the more affordable areas in Singapore, it’s more likely that affordability remains top of mind for buyers here.

Now if you’re looking for something new though, then you really don’t have much of a choice. Today, Norwood Grand presents an opportunity to get in at a low price in the new launch market, which is what you’d see next: 

For those seeking a 1-bedder

Project	Tenure	Lowest Price	Size (Sq Ft)
Norwood Grand	99 years	$988,000	495
The LakeGarden Residences	99 years	$1,277,100	527
Lentoria	99 yrs	$1,292,000	538
Hill House	Freehold	$1,320,000	431
Lentor Hills Residences	99 yrs	$1,334,000	603
The Myst	99 yrs	$1,342,000	657
Pinetree Hill	99 yrs	$1,398,000	538
Tembusu Grand	99 yrs	$1,399,000	527
Claydence	Freehold	$1,412,200	614
Grand Dunman	99 yrs	$1,428,000	549
10 Evelyn	Freehold	$1,431,500	495
One Bernam	99 yrs from 10/12/2019	$1,479,000	441
TMW Maxwell	99 yrs	$1,482,000	474
Hillock Green	99 yrs	$1,483,000	517
The Continuum	Freehold	$1,486,000	560
Midtown Bay	99 yrs from 02/01/2018	$1,588,000	409
Grange 1866	Freehold	$1,595,000	527
Midtown Modern	99 yrs from 10/12/2019	$1,638,000	409
Canninghill Piers	99 yrs from 03/09/2021	$1,712,000	484
Cuscaden Reserve	99 yrs from 14/08/2018	$1,950,000	700

Norwood Grand is the only project that can still boast a unit that costs less than $1 million dollars. This is for its 1-bedroom + study unit:

It manages to be below 500 sq ft yet comes with a study. Other than that, this layout is nothing out of the ordinary for a new launch unit. The next cheapest development that’s also close to an MRT is Lentoria. Right now, the lowest-priced unit is on the 2nd floor and is just a 1-bedroom without a study:

Between the two, the layout at Norwood Grand is more practical due to the study area. It can also be converted into a store if a study isn’t necessary. Apart from that, the price difference here is quite big, where Lentoria would cost 31% more than the unit at Norwood Grand. If the location wasn’t a huge factor, then Norwood Grand makes for a compelling option in today’s new launch context.

For those seeking a 2-bedder

Project	Tenure	Lowest Price	Size (Sq Ft)
Norwood Grand	99 years	$1,238,000	624
The LakeGarden Residences	99 years	$1,411,200	592
The Shorefront	999 years	$1,471,000	780
Hillhaven	99 yrs	$1,497,856	721
Jansen House	999 yrs	$1,499,000	721
Hillock Green	99 yrs	$1,534,000	624
The Myst	99 yrs	$1,552,000	678
Lentoria	99 yrs	$1,602,000	732
Orchard Sophia	Freehold	$1,661,000	581
Bartley Vue	99 yrs from 13/04/2020	$1,707,000	797
Pinetree Hill	99 yrs	$1,720,000	700
The Arcady at Boon Keng	Freehold	$1,743,000	678
Koon Seng House	Freehold	$1,807,000	786
Claydence	Freehold	$1,807,800	786
The Continuum	Freehold	$1,840,000	646
The Hillshore	Freehold	$1,855,000	743
Terra Hill	Freehold	$1,869,000	678
Hill House	Freehold	$1,888,000	624
One Bernam	99 yrs from 10/12/2019	$1,958,000	700
Grand Dunman	99 yrs	$1,964,000	667
Tembusu Grand	99 yrs	$2,010,000	743
Grange 1866	Freehold	$2,250,000	710
10 Evelyn	Freehold	$2,292,650	743
Midtown Bay	99 yrs from 02/01/2018	$2,308,000	732
TMW Maxwell	99 yrs	$2,404,000	786
Cuscaden Reserve	99 yrs from 14/08/2018	$2,404,860	807
Atlassia	Freehold	$3,059,028	1270
Boulevard 88	Freehold	$4,785,000	1313

The 2-bedroom unit at Norwood Grand will be the most affordable on the new launch market today – and by quite a margin too (as long as we go by the indicative price). The next most affordable project close to an MRT on this list is Hillhaven which goes for $1,497,856 (721 sq ft). This project is a couple of minutes walk to Hillview MRT. Here’s what the 721 sq ft unit looks like:

This layout is quite typical of a 2-bedroom unit, except for the kitchen – it’s located on the left side of the entrance. While some might appreciate this segregation, the lack of natural ventilation here may be an issue for some even though you can enclose the kitchen.

Here’s the smallest 2-bedroom at Norwood Grand:

The unit is 624 sq ft and sports a dumbbell layout which makes it quite optimised for space. The kitchen has a similar layout in that it’s not naturally ventilated and the smells could be trapped in the area more. However, it’s got a wider living area which makes the space feel a lot more spacious. 

Another condo that’s close to the MRT is Hillock Green. Currently, its cheapest 2-bedder is $1,534,000. This is about $300,000 more than what Norwood Grand is offering.

Just to note, Hillock Green’s cheapest 2-bedroom now doesn’t have 2 bathrooms:

Granted it’s on the 18th floor, however, the additional bathroom is generally seen to be more important here especially since this is already about $300k more and has the same size profile.

For those seeking a 3-Bedder

Project	Tenure	Lowest Price	Size (Sq Ft)
North Gaia	99 yrs from 15/02/2021	$1,228,000	980
Lumina Grand	99 yrs	$1,357,000	936
Norwood Grand	99 yrs	$1,698,000	883
The Shorefront	999 years	$1,739,000	940
The Arden	99 yrs	$1,837,000	1012
The Myst	99 yrs	$1,891,000	850
Jansen House	999 yrs	$1,988,000	1012
Lentoria	99 yrs	$1,988,000	958
Hillhaven	99 yrs	$1,989,673	947
Hillock Green	99 yrs	$2,090,000	904
Mori	Freehold	$2,093,000	1173
The Botany at Dairy Farm	99 yrs	$2,112,000	883
Bartley Vue	99 yrs from 13/04/2020	$2,141,000	1066
Hill House	Freehold	$2,150,000	753
The LakeGarden Residences	99 years	$2,206,900	1012
Sceneca Residence	99 yrs	$2,228,000	1044
Lentor Mansion	99 yrs	$2,292,000	1023
Terra Hill	Freehold	$2,351,000	904
The Continuum	Freehold	$2,377,000	872
Koon Seng House	Freehold	$2,387,000	1033
The Arcady at Boon Keng	Freehold	$2,390,000	969
Lentor Hills Residences	99 yrs	$2,403,000	1098
Grand Dunman	99 yrs	$2,458,000	980
Claydence	Freehold	$2,474,800	1076
Pinetree Hill	99 yrs	$2,489,000	969
The Hillshore	Freehold	$2,628,000	1055
Tembusu Grand	99 yrs	$2,648,000	1184
Lentor Modern	99 yrs	$2,669,000	1109
Atlassia	Freehold	$2,804,578	1141
J’den	99 yrs	$2,970,000	1184
Enchante	Freehold	$3,398,700	1270
10 Evelyn	Freehold	$3,416,000	1227
Ikigai	Freehold	$3,465,280	1496
One Bernam	99 yrs from 10/12/2019	$3,553,000	1421
Canninghill Piers	99 yrs from 03/09/2021	$3,652,000	1259
Cuscaden Reserve	99 yrs from 14/08/2018	$3,848,000	1152
Midtown Bay	99 yrs from 02/01/2018	$4,714,000	1324
Klimt Cairnhill	Freehold	$4,920,000	1432
The Giverny Residences	Freehold	$5,497,000	1636

Norwood Grand again tops the list, the first two of which are Executive Condominiums and so aren’t in the same league to begin with. For now, it is the only 3-bedroom new launch you can get for $1.6x million.

Those looking to stay near the MRT and are on a budget could consider Lentoria. It’s about $300k more though, so at a 4% interest rate and a 30-year loan, you’ll need to earn about $11,054 to qualify under the TDSR – this maximises your loan repayment which comes up to $6,080 per month in mortgage payments. For a $1.988m home, you’ll need to earn $12,942 which is about $2,000 more in monthly income and your mortgage payments come to $7,118 – about $1,000 more in outlay every month.

Considering this, Norwood Grand is still the more attractive and prudent option here especially if location doesn’t matter much to you.

Now here’s what Lentoria’s cheapest 3 bedroom would offer you:

This unit is located on level 2 and is 958 sq ft. It’s got a long entryway and an unenclosed kitchen – not really the best for those who do heavy cooking. However, there is at least a window to provide for better airflow. The rest of the 3-bedroom is pretty standard for new launches. Both bathrooms also come with natural ventilation, and it’s nice that the master bedroom also has a window on the other side that adds to the cross-ventilation.

Now here’s what Norwood Grand’s cheapest 3-bedroom offers:

It’s got a sufficiently large foyer which isn’t necessarily a great thing for a compact 3-bedder, but its Z-shaped layout provides residents with privacy. The kitchen is enclosed and compact as expected with a window for ventilation. It’s got a narrow dining area and standard living area for this size. One thing notable is the study area it managed to carve out which is pretty decent for a compact 3-bedroom – not many compact 3-bedroom units come with that. The rest of the bedrooms are quite standard too, and both bathrooms come with natural ventilation.

There is not much competition here given it’s at $1.6xm+ for a development that comes with decent facilities and is close to an MRT. Even if prices inch up higher to $1.7m – $1.9m, there are just not many alternatives in the market below the $2 million mark.

For those seeking a 4-bedder

Project	Tenure	Lowest Price	Size (Sq Ft)
Lumina Grand	99 yrs	$1,641,000	1152
North Gaia	99 yrs from 15/02/2021	$1,677,000	1313
Altura	99 yrs	$1,722,000	1206
The Arden	99 yrs	$2,191,000	1206
Norwood Grand	99 yrs	$2,238,000	1173
Jansen House	999 yrs	$2,430,000	1259
Hillhaven	99 yrs	$2,481,253	1259
Straits at Joo Chiat	Freehold	$2,552,160	1227
Lentoria	99 yrs	$2,598,000	1206
Hillock Green	99 yrs	$2,608,000	1184
The LakeGarden Residences	99 years	$2,661,200	1270
Lentor Mansion	99 yrs	$2,671,000	1227
Sky Eden@Bedok	99 yrs	$2,698,000	1302
The Myst	99 yrs	$2,746,000	1453
Lentor Hills Residences	99 yrs	$2,767,000	1345
Koon Seng House	Freehold	$2,780,000	1216
The Shorefront	999 years	$2,797,000	1648
Sceneca Residence	99 yrs	$2,980,000	1518
Pinetree Hill	99 yrs	$3,180,000	1292
Tembusu Grand	99 yrs	$3,288,000	1432
The Continuum	Freehold	$3,306,000	1227
Grand Dunman	99 yrs	$3,311,000	1292
J’den	99 yrs	$3,312,000	1485
Terra Hill	Freehold	$3,434,000	1313
Blossoms By The Park	99 yrs	$3,436,000	1507
Enchante	Freehold	$3,748,300	1281
The Hillshore	Freehold	$3,808,000	1475
Watten House	Freehold	$4,956,000	1539
Claydence	Freehold	$4,977,200	2164
Canninghill Piers	99 yrs from 03/09/2021	$5,544,000	1959
AMO Residence	99 yrs	$5,588,000	2293
Midtown Modern	99 yrs from 10/12/2019	$6,208,000	1808
The Arcady at Boon Keng	Freehold	$7,387,000	2433
Irwell Hill Residences	99 yrs from 13/04/2020	$9,452,000	2228
The Giverny Residences	Freehold	$9,566,000	2551
32 Gilstead	Freehold	$13,016,000	3821

Norwood Grand is the 2nd most affordable private condo you can buy today if you’re in the market for a 4-bedroom new launch unit. The only cheaper alternative is at The Arden.

The Arden is a short walk to Phoenix LRT Station. Some people consider this to be as good as an MRT since it connects to the MRT, but others feel like that connection itself as well as the wait for the LRT train is a hassle on its own. Regardless of what you think, it’s the cheapest private condo you can get on the market now based on available data.

So what does the $2.191m 4-bedroom unit at The Arden get you?

This unit is 1,208 sq ft in size and is located on the 3rd floor. It has a z-shaped layout at the entryway for privacy, a small dry kitchen and a wet kitchen, a small yard, a WC as well as a household shelter. The household shelter could’ve been more useful if it faced the kitchen since it could be an expanded area to work in considering the lack of countertop space. Aside from this, there are 2 bathrooms which are both ventilated, and the master bedroom can fit a king-sized bed with side tables on both sides comfortably. All in all, this small 4-bedroom unit seems sufficient if you don’t mind the smaller countertop space in the wet kitchen.

Here’s what the cheapest 4 bedroom at Norwood Grand looks like:

First off, you’re paying for 1,173 sq ft of space which is slightly smaller than the 1,208 at The Arden. The unit similarly comes with a z-shaped entryway for privacy, a longer kitchen/yard, a WC and a household shelter that can be used as an extension from the kitchen. There’s also a dry kitchen outside.

This layout also manages to put an 8-seater which is impressive considering this is the size of some premium 3-bedroom units. The living area is pretty standard. What’s great is that the unit also comes with an impressive study area that’s wide enough for 2 people to use comfortably. The bedrooms are pretty standard, though bedroom 4 is quite tight and does not allow for a side table. This is not a big deal considering it is a compact 4-bedder to begin with as most compact 4-bedroom units come with 1 smaller bedroom.

Both bathrooms also come with natural ventilation. All in all, this is quite a good size so it’s affordable overall and has a layout very suitable for HDB upgraders. The study room can even be converted into a small bedroom that fits a single bed if need be since it comes with a window. This is great for those who have a helper.

With all this said, both are still located in vastly different areas and could really cater to very different groups. HDB upgraders tend to want to stay in the same region either due to familiarity or family ties. However, if we look purely at the price and layout, then Norwood Grand seems to have the advantage.

Conclusion

The North hasn’t seen a new condo in over a decade, and one that’s within walking distance to the MRT would certainly turn heads for those who want to live in Woodlands. In the new launch market, it’s also one of the most affordable options today for something quite decent given its facility offerings.

However, the high quantum relative to surrounding prices and competitive prices of resale condos in the area is still going to be the main issue. The positive aspect is its location close to the MRT and better privacy due to its lower density. This may be enough for the resale market to accept its high prices once it reaches its TOP, but in a region where its affordability saw homes appreciating the most compared to other regions, it seems more likely that price would be at the top of mind for residents here – and for that being able to exit well here would really depend on how much the other areas of Singapore appreciate in the next few years.

Of course, the benefits and upgrades to Woodlands are clear to see, but as said again, if you are looking for an own stay option now in the area the hard product is a compelling one.

If you’d like to get in touch for a more in-depth consultation, you can do so here.