Today, lets look into some of the current undervalued properties that you can consider.
In the Outside Central Region (OCR), in the table at the bottom right, you can see the estimated land price per square feet for the respective current and upcoming projects that developers have bidded for in blue, the estimated breakeven price in orange and the estimated selling price in grey. The pricing for these projects would be a comparison for the undervalued projects shown in each of the district and indicates the current indicative psf pricing for the OCR.
We can see that Pasir Ris Central that is launched in 2020 and located in the far east of Singapore has a land bid price of $883psf, compared to Parc Clematis and Whistler Grand in Clementi with a land price of $800 to 850psf. The lesser land price means that the breakeven price for developers will be lower, and hence will be able to provide a better selling price. And these 2 projects are at a better location – Clementi vs Pasir Ris.
Parc Clematis is launched in August 2019 at an average price of $1,580psf. Developed by Sing-Haiyi, Parc Clematis is strategically located within the private landed enclave of the former Park West Condominium in Clementi, and close to many popular amenities. With an astounding 400,000sqft of facilities including a 100m by 38m lagoon and beach-like pool, 3x 5m lap pools and a variety of clubhouses for differing purposes.
Whistler Grand is launched in November 2018 at an average price of $1,380psf. Developed by City Development Limited (CDL), Whistler Grand is located within the West Coast neighborhood, and its iconic 36-storey twin towers provides amazing views of the Pandan Reservoir and Bukit Timah Nature Reserve, coupled with over 60 facilities within 6 clubs, catering to adults, kids and family fun.
Both projects are well situated to the upcoming High Speed Rail and Singapore most talked about; Singapore 2nd CBD, Jurong Lake District and Jurong Innovation District with will provide good traction for property appreciation and good rental potential.
If you prefer to stay in the east, you maybe better off buying The Tapestry which is in Tampines at a land price of $565psf, which will save you $318psf in paying for the land price, compared to Pasir Ris Central.
The Tapestry is launched in March 2018 at an average price of $1,310psf. Also developed by CDL, The Tapestry is located along Tampines Ave 10, a few minutes to the future Tampines West MRT Station, Tampines Hub and a variety of amenities. The Tapestry features a “home within a resort” concept with a pool-centric design. The central feature is a 100m infinity pool interlocked with a 50m lap pool to create an L-shaped central water body, backed with a central lawn. All units are assured of a view of the pool or the landscaped garden.
Other notable projects that are relatively undervalued includes Riverfront Residences and The Florence Residences in Hougang area.
Riverfront Residences is launched in July 2018 at an average price of $1,200psf. Developed by Oxley Holdings, Riverfront Residence is located along Hougang Avenue 7, 800 meters away from Hougang MRT station and Hougang Mall. Close proximity to the North Coast Innovation Corridor, Seletar Aerospace Park and the Punggol Creative Cluster and Learning Corridor – which would probably help with the price gain and rental for private properties in Hougang. With the Sungei Serangoon river fronting the condominium, residents will get to enjoy the rare river view in Singapore right at the comfort of the balcony.
The Florence Residences is launched in March 2019 at an average price of $1,450psf. Developed by Logan Property, Florence Residence is located along Hougang Avenue 2, also around 800m away from Hougang MRT station and Hougang Mall. The Florence Residences offers a magnificent 270 degrees unblocked views, overlooking the landed homes around it. Its designed around the “Club-Condo” concept with a whopping 128 facilities to meet the lifestyle needs of the residents.
In Bukit Batok, there is the Le Quest project. It’s the only project that has obtained its TOP recently in 2020, hence its ready to move in status. Launched in August 2017 at an average price of $1,280psf, developed by Qingjian Realty (South Pacific) Group. This mixed development is the first in the Bukit Batok region in over a decade, with close proximity to the upcoming developments in Tengah and Jurong Lake District. Currently there are only limited 3 and 4 bedroom units still available in Le Quest for grabs.
Next is the Essence in Upper Thomson, a 5-storey low-rise private development located along 1 Chong Kuo Road. Previewed at an average price of $1,327psf, developed by OKP Land Lian Soon Holdings. Situated in the serene and calm Springleaf neighbourhood within a low-rise private enclave and is surrounded by nature reserves and water bodies, its close of the upcoming Springleaf MRT station which is approximately 520m away. The Springleaf Nature Park, and both the Upper and Lower Seletar Reservoir Parks are of close proximity. The Essence is also surrounded by a lot of popular eating spots.
These projects in the OCR feature a relatively low land price in comparison of the current new launch pricing which is rising with every new project. This provides a better selling price for your consideration for projects in the OCR. Contact us to know more about the projects, which we can share the unique features of each in more detail.
Well if you have a higher budget or is looking at the Core Central Region of Singapore, here are the undervalued properties in the CCR. The land in the Core Central Region have always been priced in the higher of $2k psf. This makes the Martin Modern, RoyalGreen and Neu at Novena a great buy with land prices in the $1k psf range.
Martin Modern is launched in July 2017 at an average price of $2,300psf. Located at 8 Martin Place in the River Valley area, developed by luxury developer GuocoLand, Martin Modern is well situated next to the Singapore River, with the Boat Quay, Clarke Quay, and Robertson Quay at its backyard. Martin Modern features an exclusive botanic garden with a pasture of primitive trees and vegetation, with units residing in a vast woodland created within the project itself.
RoyalGreen is a freehold condo that is located in heart of the highly sought-after Bukit Timah neighbourhood. Developed by Allgreen, RoyalGreen previewed at $2,750psf in October 2019 and is just 260m from Sixth Avenue MRT station. Inspired by a garden-city concept, RoyalGreen features stunning architectural designs with smart usage of spaces, connected rooftop decks and bridges with various facilities and relaxation decks.
Neu at Novena is another freehold project within the CCR that’s a valued buy. Located in Moulmein Rise in the heart of Novena, Neu is developed by Roxy-Pacific and previewed in October 2019 at an average of $2,650psf. Neu sits besides a medical hub, opposite 2 shopping centres, and is 300m away from Novena MRT station. Neu At Novena features modern contemporary metropolitan design with clean vertical linear elements, an urban sanctuary where its lush greenery is embedded into its web design landscape.
Now you can own a unit in the prestigious CCR, at a cheaper price than its usual. Contact us for more information on any of the projects in mentioned, and we will be happy to share more.
Hope we have provided you some information on the undervalued projects that you can look into. Currently, properties is a good investment amidst the turmoil stocks market, and especially when developers are holding their prices in the current situation. You can check out the virtual showrooms at the comfort of your home and we can conduct online viewing for these showflats with you via zoom meetings. Take advantage of the soft market right now and don’t miss out on the undervalued projects before they get sold out. Contact us for a thorough assessment and introduction of the projects you are interested in.