Looking at the performance of newly launched condos in Singapore in Q3 2019, you might be prompted to ask: Cooling measures? What cooling measures?
Despite last year’s cooling measures and worsening global macroeconomic health, it looks as if it’s business as usual for the private residential home market.
In Q3 2019, private home prices in Singapore have increased for the second consecutive quarter, according to the latest URA flash estimates. Overall private property prices have increased by 1.7% in the first nine months of 2019.
Ahead of URA’s Q3 2019 data release next Friday (18 October), we also expect units of non-landed private residential properties sold to exceed the 4,212 units in the second quarter.
Let’s take a look at the five most in-demand condos in Q3 2019:
In-Demand New Launch Condo #1: Parc Clematis
Units sold in Q3 2019: 424
Total units: 1,468
Developer: SingHaiyi Group
Nearest MRT station: Clementi MRT
Average PSF selling price: $1,616
Coming up tops is SingHaiyi’s highly ambitious Parc Clematis. Located in an area that has seen no less than two other condos nearby — Twin Vew and The Clement Canopy — launched in recent years, this latest 99-year leasehold development offers 1,468 units of one- to five-bedrooms, as well as larger strata landed homes on the site of the formerly en bloc-ed Park West condominium.
Units at Parc Clematis range from 452 sq ft for a one-bedder to 2,669 sq ft for the biggest five-bedroom penthouse unit. The strata terrace units, meanwhile, start from 2,659 sq ft while the bungalow units measure 3,832 sq ft each.
While this development is nestled on a sprawling 633,000 sq ft site, it’s a pleasant surprise that the developer has decided to reserve 80 percent of the total area for landscaping and communal facilities (i.e. only 20 percent built up area). Impressively, this also means that most units enjoy an unblocked view. Notable facilities include a communal kitchen, jacuzzi, a communal play zone, and a beach-inspired swimming pool that measures nearly 100 metres across.
For motorists, Parc Clematis is also located within easy access to Ayer Rajah Expressway (AYE), the Pan-Island Expressway (PIE) and West Coast Highway, giving residents who drive fast access to business hubs in the West, from Jurong to one-north and Alexandra.
Families will also appreciate that this new launch condo is within touching distance of Nan Hua Primary School (1-minute walk), although this project might be just beyond walking distance of Clementi MRT Station (about 1.1km), Nan Hua High School and NUS High School of Math and Science.
SingHaiyi’s Parc Clematis bagged a host of awards at The 9th PropertyGuru Asia Property Awards, including “Best Strata Housing Interior Design”, “Best Mega Scale Condo Development”, and “Best Universal Design Development”.
In-Demand New Launch Condo #2: Avenue South Residence
Units sold in Q3 2019: 358
Total units: 1,074
Developer: A joint venture of UOL Group Limited (UOL), United Industrial Corporation (UIC), and Kheng Leong Company
Nearest MRT station: Outram MRT
Average PSF selling price: $1,950
And rightly so too, located at Silat Avenue, the 1,074-unit development comprises two 56-storey towers and five conserved four-storey apartment blocks. When completed, the tower blocks will be the tallest condominium outside the CBD.
Available units include one- to four-bedrooms, ranging from 474 sq ft to 1,668 sq ft. Apart from the spacious units, Avenue South Residence offers its residents premium facilities such as the infinity spa and themed function rooms.
More notably, the development is near the proposed Greater Southern Waterfront and Rail Corridor recreation trail. Agents will tout the Circle Line extension as a plus point, but it’s not that near and we feel it’s easier and faster to get to the CBD by bus along Jalan Bukit Merah, for future residents and tenants who aren’t inclined to travel by car.
Hottest New Launch Condo #3: The Florence Residences
Units sold in Q3 2019: 293
Total units: 1,410
Developer: Florence Development Pte Limited (Logan Property (Singapore) Company Pte. Limited)
Nearest MRT station: Kovan MRT
Average PSF selling price: $1,444
The Florence Residences is located in a quiet part of Hougang with the Kovan landed estate on its Westernly aspect. The new launch condo consists of 1,410 units spread across nine 18-storey blocks. Buyers can choose from one- to five-bedroom apartments from 474 sq ft to 1,679 sq ft.
Developed by Logan Property (the same developer behind another popular project, Stirling Residences), the development boasts 128 facilities and 12 clubs with different themes catering to different lifestyle groups.
The main highlight of the project is the 80-metre pool, which runs through the site like a river. This creates several idyllic hideaways that accentuate the feeling of being away from the bustle of Hougang.
Notably, the architect has decided that the first two floors will not have any units. This has been intentionally done to create a flow of air, as well as to maximise views. Additionally, because of the low-rise nature of the surrounding neighbourhood, the majority of units will enjoy unblocked views.
The Florence Residences is about 8 mins walk from the existing Kovan MRT station, which is one stop away from Hougang MRT station. Agents will be quick to point out that the station which will be an interchange along the highly-anticipated Cross Island Line (CRL). This would promise residents and tenants easy access to both the eastern and western reaches of Singapore, from Aviation Park in Changi to Jurong and Tuas. Here’s what we had to say about the development.
Hottest New Launch Condo #4: Treasure At Tampines
Units sold in Q3 2019: 277
Total units: 2,203
Developer: Sim Lian Group
Nearest MRT station: Simei MRT
Average PSF selling price: $1,339
At the time of this writing, Sim Lian Group’s Treasure At Tampines will be the largest condo development in Singapore. The development will have 2,203 units spanning across 29 towers upon completion in 2023.
The trade-off for spaciousness, as agents will tell you, is lower maintenance fees. Even though that’s the case, the architects have considerately scaled up the number and size of facilities to avoid overcrowding.
In fact, 60 percent of the 650,000 sq ft site will be reserved for landscaping and facilities including lap pools, children’s pools, gym, an aqua aerobic pool, an onsen spa pool, and ample BBQ pits. Alas, there’s only one tennis court.
Transport, connectivity and nearby amenities is the main draw for buyers, with the project being a short walk to Simei MRT, Eastpoint Mall, and the legendary Tampines Round Market and Hawker Centre. For motorists, the entrance to the Pan Island Expressway (PIE) is a minute away, offering easy access to the city as well as the airport.
In addition, a new 21km cycle path network will connect the entire Tampines town by the time the development is finished.
Hottest New Launch Condo #5: One Pearl Bank
Units sold in Q3 2019: 229
Total units: 1,468
Nearest MRT station: Outram MRT station
Average PSF selling price: $2,381
Last but not least is the iconic One Pearl Bank, which sold 80% of 200 units released during its very successful launch weekend. The development consists of a vast array of unit types from studio to penthouses, with sizes ranging from 430 sq ft to 2,800 sq ft.
In case you didn’t know, One Pearl Bank is a redevelopment of the iconic horseshoe-shaped Pearl Bank Apartments that was sold in a collective sale for $728 million in February last year.
The design comprises of two curved, 39-storey towers that are connected at the roof by sky bridges, a nod to the original apartment’s design.
At 178 metres, it will also be the tallest residential development within the Outram-Chinatown district, offering residents unblocked views that extend from the Central Business District to Sentosa.
In addition, there are ample community spaces and green features, which include the world’s first vertically arrayed allotment gardens in a residential development and seamless integration with the adjacent Pearl Hill’s City Park.
Location wise, it’s also smacked in a prime city-centre location with excellent connectivity to three MRT lines and three highways. The nearest Outram MRT Station is just a few minutes walk, and the excellent connectivity of the station (it’s a triple-line interchange station serving the East-West Line, North-East Line and upcoming Thomson-East Coast Line) means getting around won’t be a hassle.
For motorists, One Pearl Bank is also in close proximity to two highways, namely the CTE and AYE.
Victor Kang, Digital Content Specialist at PropertyGuru, wrote this story. To contact him about this or other stories, email email@example.com