The public preview of Pinery Residences drew a strong crowd of over 8,500 visitors to its sales gallery over the March 14-15 weekend. This 588-unit mixed-use development is located along Bedok Reservoir Road in Tampines West in District 18.
In our view, Pinery Residences and the wide range of retail and lifestyle options it offers introduces much needed amenities into this residential neighbourhood in Tampines West.
The development comprises a retail podium with a FairPrice supermarket, a Kopitiam food court, a childcare centre, and a public community plaza. The development will also feature a direct link to Tampines West MRT station on the Downtown Line (DTL).
What makes this development interesting is its proximity to Rivelle Tampines, a new EC project on Tampines St 95. The two projects sit on neighbouring plots and will launch within a week of each other – with the sales booking of Rivelle Tampines on March 21, and Pinery Residences on March 28.
However, it is important note that Rivelle is an EC which comes with eligibility restrictions and a five-year Minimum Occupation Period (MOP). But like most ECs, it enjoys a much lower entry price. Pinery Residences, on the other hand, is a fully private mixed-use development.
So how does the price of units at Pinery Residences stack up against nearby alternatives in this area? Let’s take a closer look.
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Starting prices for Pinery Residences
| Unit type | Estimated size (sqft) | Starting price | Starting $PSF |
| 2 Bedroom | 624 – 700 | $1,486,000 | $2,340 |
| 3 Bedroom | 807 – 1055 | $1,930,000 | $2,392 |
| 4 Bedroom | 1141 – 1389 | $2,722,000 | $2,386 |
| 5 Bedroom | 1475 | $3,508,000 | $2,378 |
Note that the three-bedders at Pinery start from below $2 million. For some buyers, this is psychologically significant, as many three-bedroom units offered in some new launch projects in recent years have been usually priced at, or exceed, a $2 million price quantum.
Who do we think Pinery Residences best suited for?
| Likely buyer profiles | Less suitable for |
| Buyers who like integrated projects, and enjoy the idea of a mall and connected MRT station below the residence | Buyers who prefer purely residential projects (e.g., those who worry about noise and crowds from the mall and MRT) |
| Buyers who cannot meet EC eligibility requirements, or do not want to be stuck with the MOP | Buyers who are eligible for an EC and just want the lowest possible quantum; Rivelle is right next door |
| Buyers with a longer holding horizon, as this part of Tampines is still being developed | Buyers expecting strong short-term price appreciation |
| Buyers who are okay with, or even prefer, living some distance away from the more congested centre of Tampines | Buyers who expect the same degree of convenience and development as Tampines central |
Let’s begin with an overview of D18
This will set the tone for the overall price performance we can expect for condos in D18. The performance of 99-year leasehold condos is the most relevant to Pinery Residences – but we’ll also look at the freehold and overall price performance of the condo market here for completeness.
All tenures
| Year | D18 | All non-landed private properties |
| 2015 | $897 | $1,180 |
| 2016 | $976 | $1,232 |
| 2017 | $952 | $1,304 |
| 2018 | $1,122 | $1,435 |
| 2019 | $1,197 | $1,560 |
| 2020 | $1,172 | $1,513 |
| 2021 | $1,192 | $1,600 |
| 2022 | $1,223 | $1,712 |
| 2023 | $1,344 | $1,869 |
| 2024 | $1,416 | $1,886 |
| 2025 | $1,866 | $2,092 |
| Annualised | 7.60% | 5.90% |
99-year leasehold
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