What $1.4M For A One-Bedder at Emerald Of Katong Gets You: Here Are Some Surprising New Launch Comparisons

As we near December, Emerald of Katong (EOK) is the best-selling launch of 2024, and perhaps a few years to come. It’s been a while since a project as big as EOK sold out 99 per cent of its units at launch, especially given the higher prices after Covid. But even though many felt EOK was competitively priced, the same can’t be said for some of the smaller 1/2 bedder units that went for surprisingly high prices. That has led some people to wonder: what could you buy for the same price as a one-bedder at EOK in today’s new launch market? You may be surprised at the contrast:

Notable one-bedders that are comparable in price to EOK

The typical quantum for a one-bedder at EOK was $1.38 million. The same amount could buy you a one-bedder at some fairly new and notable projects (as of 2024). The following all have an average transaction of $1.38 million or below:

1. The Collective at One Sophia

The Collective is a redevelopment of the former Peace Centre/Peace Mansion, which for a long time was alleged to be one of the cheapest ways to live near Orchard. The Collective is a leasehold, 367-unit project that’s selling now, and is expected to reach TOP in 2029 (it sold about 10 per cent at launch at an average of $2,750 psf).

The Collective is at a nexus: roughly on the boundary between Dhoby Ghaut, Bugis, and Little India. It’s possible to walk to the venerable Plaza Singapura from here (but be warned, the walk is mostly unsheltered, and uphill part of the way). You can also walk to Bugis or into Little India, so amenities are abundant; and you have access to Bencoolen MRT station (DTL) as well as Dhoby Ghaut MRT station (NEL, NSL, CCL). 

The neighbouring mall, ParkLane, isn’t what we’d call a huge amenity – it’s an ageing mall mostly visited for its McDonald’s, and some may dislike the presence of some KTVs here. Next door to it, however, PoMo is a developing youth hangout; and the nearby Prinsep Street has a lot of nightlife spots. 

This is a very urban area surrounded by traffic, and there are almost no green spaces. Coupled with the small unit sizes (about 431 sq. ft for one-bedders), it’s better suited to young singles, or being purely a rental asset. 

Due to its relative proximity to the Beach Road/Bugis area, this could be viewed as an alternative to projects like Midtown Modern or The M. Landlords who are okay with new launches should give it a look. 

This is a very accessible and convenient area overall, but we’d still call it the tail-end of District 9. The quality of the malls here drops sharply compared to nearby Orchard and Somerset, despite the proximity.

The Collective is still in developer sales at this point, with one-bedders averaging $2,750 psf. Recent transactions show an average of $1.224 million, with transacted one-bedders mostly being around 431 sq. ft.

Available Units

Past Transacted Prices

2. Pinetree Hill

Pinetree Hill is a leasehold, 520-unit condo that will TOP in 2027. While the Ulu Pandan location is not the most accessible (there’s no MRT station within walking distance), this is one of the “greenest” new launch locations to date. It’s also worth noting that, despite being less accessible by public transport, this is still a city fringe (District 21) project; and it’s still convenient for those who drive or cab to the city centre often.

Pinetree Hill is also literally on a hill, so the site is about 8.5 metres above the nearest roads. This maximises the view for all the units, even those on lower floors; and it also allows for less road noise for ground floor units. 

Pinetree Hill overlooks Clementi and Dover Forest, so it has great views for nature lovers (although it must be noted that this isn’t forever). The developer was also willing to trade off more units for more generous common areas – about 88 per cent of the land area is given over to common use. 

This project will appeal to those who work in the Jurong areas, but don’t like the noise and pollution, or the glass-and-concrete jungle of places like Orchard. 

Still in developer sales, Pinetree Hill started at an average price of $2,360 psf, but this had climbed to $2,541 psf by October. The average quantum is $1,368,273 for most of its one-bedders. These one-bedders are all 538 sq. ft., and are quite limited; there’s a total of just 22 one-bedders in Pinetree Hill. 

There is another new launch just next door (Nava Grove), but it differs by only having 2 bedders and up.

Available Units

Past Transacted Prices

3. Norwood Grand

Norwood Grand is Woodlands’ first new launch in around 12 years. This small (348-unit) leasehold condo is just a short walk from Woodlands South MRT station, on the new TEL line. This is just one stop from Woodlands MRT proper (NSL, TEL), so there’s easy access to Causeway Point Mall. 

Due to its location, some buyers may look at this project as a rental asset for Malaysian foreign workers. Its one-bedder units are well suited for this, as the quantum is low (see below), and most tenants will appreciate the MRT access.

A positive trait of Norwood is that, despite the smaller land area and unit count, it has a level of facilities that can match bigger projects. It has a 50-metre lap pool, tennis court, and childcare facilities, along with the usual gym, BBQ pits, etc. Facilities-wise, this is one of the better small project launches we’ve seen over the past years. 

The surrounding HDB enclave is also reasonably well-developed. We don’t think anyone will feel the “ulu” aspect of Woodlands here: besides the usual slew of coffee shops and minimarts, the HDB-run Vista Point is within walking distance, and this can cover most daily needs. 

Norwood Grand sold out very fast (84 per cent sold at launch), likely due to 12 years of pent-up demand. The one-bedders were among the most competitively priced of 2024, at $2,133 psf on average. This means an average quantum of just $1,055,968, falling within comfortable reach of a “sell one, buy two” approach.

Available Units

Past Transacted Prices

4. Union Square Residences

Can you get a one-bedder in the CBD area for the same price as EOK? The answer is, surprisingly, yes. Union Square Residences (formerly Central Square) in District 1 is a leasehold project with 366 units. 

This project is within walking distance to both Clarke Quay MRT station (NEL), and Chinatown MRT station (DTL, NEL). That’s both within the CBD and close to the heart of Singapore’s nightlife. The location makes it an obvious rental asset: young single professionals, or single expats, will find this one of the accessible and convenient locations to live. 

The amenities that are lacking will only matter to bigger family units (e.g., parks and schools), who are unlikely to stay here. This being the heart of the city, there are malls, restaurants, and entertainment in almost every direction; along with crowded roads, noise, and looming buildings (but the Singapore River provides a bit of a break). 

Given how much of a prime area this is, you might think it’s entirely unaffordable. But surprisingly, the cheaper one-bedders here start from a quantum of $1.38 million. One-bedders here are 463 to 506 sq. ft., so opting for the smaller ones might cost no more than a one-bedder at EOK.

Mind you, this isn’t to say that Emerald of Katong is bad, but it does show how many alternatives are out there for one-bedders, and how far $1.38 million can actually get you. 

Available Units

Past Transacted Prices