Why I Bought A $1.45 Million 2-Bedder At ELTA: A Buyer’s Case Study

A First-Time Buyer Navigating a Crowded New Launch Market

T, a first-time buyer with a budget of around $1.2 million, entered the market between Q3 2024 and Q1 2025. This was during a surge in new launches like Nava Grove, The Orie, Emerald of Katong, etc. T had been actively tracking the wave of new launches, but with each release, his decision matrix only grew more complex.

His objective wasn’t purely owner-occupation. This first property was meant to serve as a stepping stone; one that could ideally generate sufficient capital appreciation to support an eventual upgrade into the Core Central Region (CCR).

After following our editorial content, he reached out for a consultation. During our first session, we mapped out both near- and longer-term goals. Ideally, he was hoping to exit around three years after TOP. But if the market didn’t play along, he was open to holding longer, so liveability became just as important as gains.

Evaluating the Options: Resale vs. New Launch

Two viable options were immediately identified based on his budget and goals:

Option 1: Resale unit (2- or 3-bedder)

Entry prices were more favourable, but resale stock in this segment was often limited to older developments, with less efficient layouts and fewer facilities. Price movements in such projects have been relatively flat over the past five years, and many are already near their projected ceiling unless there is a collective sale opportunity.

Option 2: New launch unit (1- or 2-bedder)

This means higher price psf and longer wait time before occupation. However, early-phase buyers in selected launches have historically benefited from price appreciation at later stages of sale. 

Exit liquidity is also generally stronger, especially for units with efficient layouts in well-located, mid-sized developments. In the post-GFA harmonisation era, layout quality and liveable efficiency have become even more crucial in influencing resale value.

T preferred the new launch option, but we knew that maximising potential upside required strategic choices around both location and development size.

When discussing location preferences, T expressed that he was open to CCR, RCR, and Tampines areas. He mentioned he could commit long-term if needed, but ruled out Woodlands and Jurong due to unfamiliarity with those regions.

Before coming to us, T had The Collective at One Sophia on his shortlist, mainly for its CCR location. He was familiar with the area’s connectivity and central access, having rented nearby in the past.

However, historical data showed that capital appreciation in this micro-market has been relatively muted, particularly for compact units. Projects in the vicinity, especially those with high density or predominantly investor-type layouts, have struggled to achieve meaningful price growth, even over longer holding periods.

Drawing on our knowledge of the neighbourhood, we were able to share these insights with T, helping him make a more balanced and informed decision. To illustrate the point, here are the average percentage gains for 1- and 2-bedroom units in close proximity to One Sophia:

The average annualised gains ranged from just 0.71 per cent to a 25.4 per cent outlier in 2023, with most of these unit types held for around seven to eight years.

Additionally, exit competition was identified as a key concern. Investor-heavy projects often see a flood of listings during market slowdowns, reducing the chances of a high-margin sale. Given the current volatile market sentiment, the exit strategy for One Sophia became a significant sticking point for T.

Reframing the Objective 

We returned to the core question: What would offer flexibility, downside protection, and appeal to future buyers within the same price range?

Together, we concluded that it was best to pass on T’s initial choice of One Sophia, and instead explored other options that better suited his profile and goals.

This led us to shift the search towards RCR and OCR projects with more attractive entry prices, stronger appreciation potential, and better resale fundamentals.

Taking into account T’s earlier location preferences, we proposed a shortlist that included Nava Grove, The Orie, Emerald of Katong, Chuan Park Residences, ELTA, and Parktown Residence. 

Anchoring the search to modern lifestyle preferences and his budget

At this stage, we narrowed the search to a 2-bedroom, 2-bathroom unit; a layout that continues to see steady demand among smaller households. It’s a practical choice: efficient, liveable, and broad enough in appeal to remain accessible to a wider pool of future buyers.

For T, it struck the right balance. It offered strong resale potential, while still being a viable own-stay option if market conditions made a quick exit less favourable.

T had initially set a budget of around $1.2 million. But as we evaluated the available options, particularly in the more established RCR locations he preferred, it became clear that most new launch 2-bedders were priced above that range.

After a detailed review of his financial position, we concluded that increasing the budget to $1.5 million was manageable without overleveraging.This adjustment meaningfully expanded his choices, giving him access to higher floor units and stronger projects with better upside potential.

​From there, we began tracking a series of upcoming launches: Chuan Park, Emerald of Katong, The Orie, Norwood Grand, ELTA, and Parktown Residence. For projects where floor plans and unit details were already available, we also shortlisted the most efficient and investment-sound layouts, focusing on configurations that balanced liveability with exit potential.

But even with a clearer strategy in place, one major variable remained: the ballot. For buyers working within a fixed budget, securing a favourable queue number can be the difference between a viable unit and being priced out, especially in launches where floor-based pricing premiums can add up quickly. Despite all the planning, this part of the process still came down to timing and luck.

So for each launch, we established two key decision points in advance: based on the queue number received, which specific units and layouts were viable, and at what price it would make more sense to walk away.

T’s Balloting Journey and Queue Challenges

The first development T visited was Norwood Grand. As it was an unfamiliar location and the first project he physically toured, he was not yet confident enough to commit. Ultimately, the project was ruled out.

Chuan Park presented a stronger case. Its direct access to Lorong Chuan MRT, along with a prior purchase by a close acquaintance, made it a compelling option. 

Around the same time, Emerald of Katong launched. While T showed a marginal preference for Chuan Park, he remained open to both projects, recognising their comparable strengths in location and design.

Given the competitive nature of both launches, we advised T to submit cheques for both projects to increase selection chances. Despite this, he drew unfavourable queue numbers for each and was unable to secure a unit.

Launch performance reflected the intensity of demand:

• Chuan Park: 76 per cent sold on launch weekend
  
• Emerald of Katong: 99 per cent sold at launch
  

Following that, we turned our attention to the next launch: The Orie. 

Located in Toa Payoh, an established and mature estate, the project aligned with his preferences in terms of familiarity and long-term stability. However, the ballot results once again fell short, and he was unable to secure a unit. 

The Orie later reported that it moved 86 per cent of its units during its launch weekend. 

After three unsuccessful attempts, fatigue began to set in. T acknowledged that it was becoming harder to remain objective — a common challenge for buyers facing repeated ballot disappointments, especially within such a tightly compressed launch cycle.

The next two launches on the horizon were ELTA and Parktown Residence. Although ELTA was scheduled to launch first, project details for Parktown had already been released, giving us an opportunity to assess both options side by side.

Key distinctions between the two:

• ELTA: Lower density, elevated site, proximity to reputable schools (e.g. Nan Hua High, NUS High), positioned as a quieter, residential-oriented project
  
• Parktown Residence: Integrated development, with retail and commercial components on-site
  

Given these trade-offs and T’s preference for long-term exit flexibility, ELTA was shortlisted as the primary option. We maintained the same ballot strategy—submit for ELTA first, with Parktown as a contingency.

This time, T drew a queue number under ten—his first viable opportunity across the past launches. Based on the unit availability and alignment with earlier criteria, he proceeded with ELTA. No further ballot was submitted for Parktown Residences.

Exploring ELTA: An Investment Property with Own-Stay Potential 

ELTA is located in the mature estate of Clementi and launched as the final GLS site in the area. Positioned between two well-regarded developments, Clavon and The Clement Canopy, it offers residents the benefit of living in a well-established neighbourhood with a proven track record.

One of its core locational advantages lies in its proximity to educational institutions. It is within walking distance of Nan Hua High School and NUS High School of Math and Science, while tertiary institutions such as NUS, Ngee Ann Polytechnic, and Singapore Polytechnic are all located nearby.

For families, the project also falls within the one-kilometre enrolment zone of Pei Tong Primary and Clementi Primary. These attributes enhance its attractiveness for both own-stay buyers and investors targeting the student or education-linked rental segment. 

Clementi itself is a well-rounded neighbourhood known for its comprehensive amenities, mature infrastructure, and strong connectivity. However, one trade-off is the project’s distance from Clementi MRT on the East-West Line. While not within walking distance, the area is well served by public bus routes and has convenient access to the AYE. Some units also face the expressway, which may be a concern for noise-sensitive buyers.

Despite these considerations, ELTA’s location remains a strategic advantage. It offers direct access to key employment and lifestyle hubs such as Jurong, One-North, and Orchard, making it suitable for a broad tenant pool that includes both professionals and students.

T ultimately felt that ELTA stood out the most, not just from an investment perspective, but also because it was a location where he would be happy living if he were unable to exit the market at a good price upon TOP.

Price Benchmarking: Clementi and Surrounding Launches

To validate the decision and provide T with greater confidence, we conducted a comparative pricing analysis across both new launches and resale transactions within the Clementi region.

Pricing at ELTA appeared well-supported by activity in neighbouring projects. Developments such as Clavon and Parc Clematis have demonstrated consistent demand, underpinned by their tenure, location, and established resale performance. 

For reference, here are the transactions done in Clavon in the past six months alone: 

At the same time, transaction data from newer RCR launches (specifically PineTree Hill and Nava Grove) helped establish a clear pricing ceiling that supported ELTA’s value proposition.

In practical terms, T’s selected unit at ELTA was acquired at a lower quantum than several 2-bedroom units transacted in nearby projects. Two notable reference points: a 2-Bedroom, 1-Bath unit at PineTree Hill closed at approximately $1.77 million, while another transacted at $1.722 million. 

In comparison, T secured his unit at under $1.5 million. This pricing differential offered a safe buffer, which gave him more confidence in his exit strategy.

At one point, T considered stretching further to secure a 2-Bedroom, 2-Bath unit within ELTA. To come to a conclusion on this, we analysed recent resale data at Clavon. 

The average profit for 2-bed, 2-bath units stood at approximately $283,966, while 2-Bed, 1-Bath units saw average profits of around $238,600. In terms of annualised returns, both layouts were comparable.

Here are the past transactions for the 2-Bed, 1-Bath unit layouts in Clavon. 

Given this, we advised T to stay within his budget. The marginal profit uplift from upgrading wasn’t compelling enough to justify the financial stretch and risk of overleveraging.

A Deeper Dive into ELTA 

ELTA’s 2-Bedroom, 1-Bath Layout 

The unit features a dumbbell layout, which enhances space efficiency by minimising corridor wastage and offering better spatial separation between the bedrooms. In the new launch market, this configuration is commonly favoured by both homeowners and tenants for its functionality. 

The inclusion of an enclosed kitchen was another standout feature. That said, this layout isn’t new to the area; in fact, a similar configuration was seen at Clavon, and reception there had been healthy. 

Here are some of the recent sub-sale transactions for this particular unit type at Clavon: 

For families priced out of larger 2-bedders or traditional 3-bedroom units, this layout still makes sense. The bedrooms remain well-sized, there’s sufficient space for both living and dining, and the Jack-and-Jill bathroom configuration offers flexibility for shared use.

Here’s a look at Clavon’s 2-bedroom 1-bathroom layout, which shares several similarities with the unit T purchased.

A key differentiator for ELTA is that it is the only post-GFA harmonisation project among its immediate peers, namely Clavon and The Clement Canopy. Under the revised guidelines, non-liveable components such as AC ledges are excluded from a unit’s stated square footage. As a result, while the listed size may appear smaller, the internal efficiency and usable area remain comparable to pre-harmonisation projects.

For context, T’s selected 2-bedroom unit at ELTA measures 614 square feet, while a similar 2-bedroom unit at Clavon measures approximately 678 square feet. Despite the difference in size (at almost 10 per cent), both layouts offer similar liveability due to ELTA being subjected to the new GFA harmonisation guidelines and its layout efficiency.

For budget-conscious buyers, achieving comparable liveability at a smaller footprint can feel like better value. That said, ELTA’s $PSF is currently the highest in the immediate area. 

It’s also expected to TOP in 2029, while Clavon recently TOP-ed in 2024.

ELTA’s Site Plan and Picking his unit 

One consideration was orientation. The 2-Bedroom, 1-Bath layout that we picked out was available in the stacks facing either the quieter Clementi Avenue 1 or the AYE. 

The AYE-facing stacks were generally less favourable as highway-facing units might have more exposure to traffic noise and dust. However, this sticking point was not unique to ELTA, but common across the neighbouring Clavon and The Clement Canopy as well. 

Fortunately for T, his favourable queue number allowed him to select a low-floor unit facing Clementi Avenue 1. This aligned with his key priority of securing a quiet-facing home within budget.

He did briefly consider the highway-facing stacks, which, from level 20 and above, offer distant views of Pandan Reservoir and the sea. But in the end, T was comfortable passing on the premium. For him, avoiding the potential traffic noise and staying within budget were the greater priorities.

In the end, we guided T to secure his unit for under $1.45 million, within his $1.5 million cap.

T’s journey reflected many of the common challenges faced by buyers in 2024: compressed timelines between launches, emotionally charged balloting rounds, and the tension between making a profit and affordability.

However, by working with us and applying a structured decision-making framework grounded in data, he was able to arrive at a purchase that was both financially sound and aligned with his long-term objectives.

The challenge with Singapore property isn’t finding options – it’s filtering through the noise to identify genuine value in a market where pricing often seems detached from fundamentals.

While most buyers are overwhelmed with choices and conflicting advice, we hope our case studies give you a framework for evaluating properties based on what actually drives long-term appreciation, regardless of market cycles.

Our team has applied this exact evaluation method to help buyers find properties that have outperformed the market during the past five years.

Curious how these principles apply to your specific family situation and budget? Let’s chat.